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Sending international payments 🌏

Learn how to send payments in foreign currencies, which currencies Settle supports, and more.

Becca Campbell avatar
Written by Becca Campbell
Updated over 3 weeks ago

You can easily pay vendors from around the world via no or low-cost wire transfer in either USD or a foreign currency*.

Paying an international vendor

  1. Add bill. If you're new to Settle or need a refresher on adding bills, check out this article.

  2. The Bill details should auto-populate based on the details in the bill. Double check the Invoice amount currency is accurate, and if needed, select a different currency from the dropdown menu.

  3. Click Proceed to payment

Please note: Bill pay transactions over $200,000 will include a 2-day processing delay across all payment methods. This update helps protect against high-value payment risks and aligns with common industry practices—ETAs have been adjusted to reflect the change.


International wire fees

Fees for international wires are based on your organization's Settle subscription tier:

  • Launch: $10 for domestic wire and $15 for international wire transfer

  • Accelerate: $9 for domestic wire and $13 for international wire transfer

  • Elevate: $9 for domestic wire and $13 for international wire transfer. If you process a high volume of domestic or international wires, reach out to your sales or customer success representative for a custom plan that includes custom wire pricing

Learn more about our current pricing here.

*Note: As with all international wire payment transfers in foreign currencies, vendors may incur fees based on their bank. These fees aren't set by Settle and, unfortunately, are outside our ability to set the fees or costs associated with the transfers.


Requirements for international payments

For countries outside the US, the following details are required:

  • BIC/Swift Code: 8-11 characters

  • IBAN Code: Up to 34 characters, prefaced by a two-character country code

  • Recipient's Name and Address

Some countries may require additional fields:

China:

  • CNAPS: 12-digit clearing code

Australia:

  • BSB Number: Bank State Branch (BSB) in the format "XXY-ZZZ", where XX represents the bank, Y represents the state, and ZZZ represents the branch address.

Canada:

  • Canadian Routing Number: In the format "0YYYXXXXX", where YYY is the 3-digit institution number and XXXXXX is the 5-digit transit number (branch number).

Countries Requiring Purpose Codes:

  • Bahrain

  • China (for payments in CNY)

  • United Arab Emirates

  • Hong Kong (for payments in CNY)

  • India (for payments in INR)

  • Malaysia (for payments in MYR)


Supported currencies

We currently support international payments sent as

  • AED

  • AUD

  • BDT

  • BMD

  • BWP

  • CAD

  • CHF

  • CNY

  • COP

  • CZK

  • DKK

  • DZD

  • EGP

  • EUR

  • FJD

  • GBP

  • GHS

  • HKD

  • HNL

  • HUF

  • IDR

  • ILS

  • INR

  • ISK

  • JPY

  • KWD

  • KYD

  • LKR

  • MAD

  • MXN

  • MYR

  • NOK

  • NZD

  • PHP

  • PLN

  • RON

  • SEK

  • SGD

  • THB

  • TND

  • TRY

  • TTD

  • USD

  • VND

  • XCD

  • ZAR

  • ZMW

Payments sent in certain currencies have maximum limits, as follows:

  • INR — 1,500,000 per day to any particular beneficiary

  • IDR — 350,000,000 per transaction

  • MYR — 100,000 per transaction

  • PHP — 1,300,000 per transaction


FAQs

I need to send a payment to an international vendor, and they’ve requested a two-account wire transfer—one for the intermediary bank and one for the beneficiary bank. Does Settle support multi-part wire transfers like this?

No, Settle does not support intermediary bank details. For international payments, please use the beneficiary bank details directly.

How often does Settle update foreign exchange (FX) rates?

FX rates are updated daily, typically multiple times throughout the day. However, there is no fixed or published time when these updates occur.

Does Settle add a markup to the FX rate?

Yes, the exchange rate shown in Settle includes a small transaction fee. This is standard practice across most AP platforms. While Settle’s markup is minimal, platforms like Bill.com tend to include significantly higher markups.

Where can I view the FX details for a transaction?

You can find the exchange rate details by navigating to the bill and selecting:

Details > Invoice Details

This will show you the FX rate applied and any applicable fees.

If I schedule a payment today for a future date, when is the FX rate locked in?

The FX rate is fixed at the moment the payment is scheduled. During the payment creation process, Settle displays the fixed rate and any exchange fee as a separate line item for full transparency.

What happens if I make a split payment in a different currency?

Split payments involving foreign currencies can sometimes lead to rounding or FX differences that cause the total amount paid to exceed the bill amount. This may result in a sync failure with your accounting software.

Recommended solutions:

  • Reach out to your Customer Support Rep to:

    • Create the necessary journal entries manually, or

    • Configure a “Foreign Exchange Gain/Loss” account and have Settle attempt to export the journal entry for the FX difference.

  • Another option is to sync the bill in the correct currency.

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