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Travelex GlobalPay

Streamlined payment processing

With GlobalPay, all payments - urgent and non-urgent, incoming and outgoing, domestic and international - are processed via a single platform, eliminating the need for multiple logins as well as the difficulties associated with handling multiple foreign bank accounts. It's a true one-stop shop, eliminating the need for multiple payment sources and log-ins.

GlobalPay can also speak directly to your ERP system. Now you can upload payment instructions from your accounting package directly into our payment platform, altogether eliminating the process of logging in and entering line-by-line spot transactions. This integration also sends reconciliation information, including your unique reference numbers and other pertinent details, right back into your ERP system, eliminating manual entry and ensuring all payment information is readily available for inquiries, reconciliation and reporting needs.

Reduced payment costs and errors

Payments are often misrouted or returned due to incomplete or incorrect payment instructions. As a Travelex client you will have access to "Find a Bank" a comprehensive database of bank routing information for 130 countries, helping you avoid time consuming and costly errors associated with incorrect banking instructions.

Don't spend your time keying in long strings of routing digits. Travelex GlobalPay enables you to search for your beneficiary's bank, providing just one or two pieces of information, and Find a Bank will provide complete and up-to-date payment instructions for that bank. By auto-populating the correct figures into your orders, you'll not only save time upfront, but also ensure that time-consuming, confusing and expensive errors are avoided later. In addition, we enable your vendors to log into certain GlobalPay functions to maintain their own banking instructions, further minimizing errors as well as time spent maintaining vendor information.

Travelex offers alternative payment delivery methods for your international payments as well as upfront pricing on all services. By utilizing our correspondent banking network to send your international payments as in-country low-value electronic payments, you avoid intermediary banks and the high fees associated with sending an international wire. This means you spend less to send your payment, it costs less for your payee to receive the funds, and your beneficiary receives the full amount that is sent. Payment tracking is also much easier thanks to the removal of intermediary banks.

If a faulty payment is returned, our foreign currency holding balances enable you to hold those funds in the sent currency, ready to be resent once correct payment instructions are obtained*. Travelex's foreign currency holding balances speed up the payment process and offer a number of cost saving advantages.

Improved cash and risk management tools

GlobalPay helps you identify currency risk within your payment process and determine a suitable hedging strategy that you can implement to cover risk and protect your bottom line. From a single screen you can view all scheduled incoming and outgoing payments as uploaded from your accounting system and identify opportunity for "natural hedging" and where shortfalls in funds exist. Next, determine the best hedging strategy to cover these shortfalls by taking advantage of our market reporting services or by consulting with our dedicated relationship management team. Finally, cover your shortfalls by locking into today's rate for up to a year with a forward contract, or purchase the funds today and keep them in your GlobalPay foreign currency holding balance* within where they can be available when needed.

*Funds may be held for a maximum of 90 days

In the United States, services will be provided by Ruesch International, Inc. or Travelex Currency Services Inc. In Canada, services will be provided by Travelex Canada Limited or Ruesch International, Inc., Travelex Currency Services Inc. and Travelex Canada Limited are all Travelex Group companies, and may be collectively referenced on this website as "Travelex".