International Payments Guides
Everything you need to know about choosing the right payment provider, understanding fees, and optimising your international money transfers.
Essential Guides
Learn from experts and make informed decisions about your international payment needs.
How to Choose the Right International Payment Provider
A comprehensive guide to evaluating and selecting the best financial provider for your cross-border payment needs.
Understanding FX Rates and Markups
Learn how foreign exchange rates work, what markup means, and how to calculate the true cost of international transfers.
Understanding Financial Regulation & Compliance
What FCA, DNB, and DFSA regulation means for your business and why it matters when choosing a payment provider.
Multi-Currency Accounts Explained
Discover the benefits of multi-currency accounts and how they can save your business time and money.
API Integration for International Payments
Technical guide for developers on integrating international payment APIs into your platform.
Comparing Transfer Fees: What to Look For
Hidden fees, transparent pricing, and how to calculate the total cost of international money transfers.
Quick Tips for Saving Money
- Compare rates: Shop around before making large transfers - rates can vary by 3-5%
- Avoid weekends: Exchange rates are often less favorable on weekends
- Use limit orders: Set your target rate and execute automatically when reached
- Consider timing: Major economic announcements can cause rate fluctuations
Common Mistakes to Avoid
- ✕Using your regular bank for international transfers (usually 3-5x more expensive)
- ✕Not checking for hidden fees in the exchange rate markup
- ✕Choosing providers without proper regulation and safeguarding
- ✕Ignoring transfer speed requirements (urgent transfers often cost more)
Frequently Asked Questions
Quick answers to common questions about international payments.
What is the difference between SWIFT and local transfers?
SWIFT transfers are international bank-to-bank transfers that can take 3-5 business days and typically cost £15-40. Local transfers use domestic payment rails in each country, are much faster (often same-day), and significantly cheaper, usually costing just a few pounds or being completely free.
How do I know if a payment provider is trustworthy?
Check for regulation by reputable authorities (FCA in UK, DNB in Netherlands, DFSA in UAE). Look for transparency in pricing, clear terms of service, established track record, positive reviews, and proper safeguarding of client funds. Regulated providers are required to keep client money separate from company funds.
What is FX markup and how much should I expect to pay?
FX markup is the difference between the mid-market exchange rate and the rate you receive. Traditional banks typically charge 3-5% markup, while specialist providers offer 0.2-1.5%. For a £10,000 transfer, this difference can mean £200-500 in savings.
Can I hold multiple currencies in one account?
Yes, many modern payment providers offer multi-currency accounts where you can hold, receive, and send money in 20-50+ currencies. This eliminates the need for multiple bank accounts and reduces conversion fees when you receive payments in foreign currencies.
How long do international transfers typically take?
Transfer speed varies by provider and payment method. Traditional bank transfers (SWIFT) take 3-5 days. Modern providers using local payment networks can deliver transfers in minutes to 24 hours. Factors affecting speed include currencies involved, destination country, and compliance checks.
Ready to Find Your Perfect Provider?
Use our comparison tool to find the best international payment provider for your specific needs.