They can include any kind of trade, retail, or individual financial transactions, such as purchasing goods or services, paying wages or royalties, or making investments. Almost all international business payments involve more than one currency, which makes them require a foreign exchange to mediate the transfer.
What are the most common international business payment methods?
We outline the most common international business payment methods below, including the pros and cons of each. An international wire transfer is a type of Electronic Funds Transfer (EFT) payment that allows you to send money directly from your business bank account to another business’s account overseas.
Can I make international business payments with Wise?
Make international business payments and save up to 3x with Wise. Choose from 70+ countries and pay overseas staff or suppliers, with no hidden fees or exchange rate markups. Is Wise safe? The information above applies when you pay in via bank transfer or ACH payments.
