How to save money on cross-border payments

Cross-border payments can support business growth by expanding access to international customers, suppliers, and employees, but their costs may include exchange-rate markups, transaction and intermediary-bank fees, and potential taxes. Businesses can reduce these expenses by comparing providers against the interbank FX rate, monitoring currency movements, locking in favorable rates where available, and using multi-currency accounts to delay conversions or avoid them when receiving and paying in the same currency. When selecting a provider, companies should assess security, transparent pricing, transfer speed, geographic and payment-method coverage, and operational features such as accounting integrations and batch payments. Banks and traditional transfer services may offer familiarity or cash-access networks but can involve higher fees and slower processing, while fintech platforms such as Airwallex position themselves as faster, lower-cost alternatives offering multi-currency accounts, local payment networks, anti-fraud controls, and payment automation tools.

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