Incoming International Payment Solutions

By accepting foreign currency payments, you gain a competitive edge in foreign markets and strengthen relations with local buyers. Allowing foreign associates to pay in their local currency also simplifies the payment process, making it more convenient for foreign associates to conduct business with you.

Travelex offers two instruments for receiving and converting foreign funds into USD: incoming electronic funds transfers (EFTs) and check conversion services.

Incoming Electronic Funds Transfers

To provide you with an efficient means for receiving foreign currency from abroad, Travelex will accept EFTs into our worldwide network of correspondent bank accounts. Whether the incoming funds are remitted from within your organization or from a third party, the procedures are simple and flexible. The service is available through your representative or online through GlobalPay.

With Travelex’s Incoming EFT service, you retain control over the rate at which to convert the funds. A rate of exchange may be locked in before the funds arrive or after confirmed receipt.

• If you secure a rate before the funds are received: Upon confirmed receipt, the order is processed and your USD payment is issued the next business day.

• If a rate is not locked in at the time of the order: A Travelex representative will contact you upon confirmed receipt of funds and provide you with the prevailing rate of exchange. You may choose to accept the rate or wait for a more favorable one. If you choose to wait, we will monitor the market on your behalf through MarketLink, our currency information service.

Once the rate is secured, your USD payment is issued by check or domestic wire transfer.

Know of a pending or upcoming invoice that will require the same foreign currency just received? Skip converting the funds back to your home currency and keep the foreign funds in a Foreign Currency Holding Balance for future use up to 90 days.

Incoming Foreign Currency Drafts

Travelex’s Incoming Foreign Currency Draft Service allows you to efficiently convert foreign denominated checks into USD. Travelex also accepts USD checks drawn on select foreign banks and USD checks without routing numbers (usually U.S. branches of foreign banks). Payment is conditional upon final clearance by the issuing bank.