For UK businesses working with suppliers or clients in other countries, international payments can be costly. You may
come across hidden fees, poor exchange rates, and additional platform fees. Because of this, the amount of
money you send may not match what is actually received.
This guide shows how businesses can send
international money more easily. It can save them time and money. It also helps them keep control
over their own money.
Use a Business Account for
International Payments
A dedicated business account helps you see and manage your company transactions better. Many
platforms today offer features like:
Good rates for changing currency
Fast withdrawal of funds
Connects with accounting tools
Options for unlimited account growth for growing companies
These accounts are usually safe because of the Financial Services Compensation Scheme. They
are also supervised by the Financial Conduct Authority (FCA). This ensures a safe and
secure environment.
Leverage Competitive Exchange Rates
The exchange rate you receive can change how
much money your recipient gets. A change of only 1–2% on a large amount of money can make a
significant impact.
Tips:
Look at the rates from different providers.
Consider fixed or forward contracts for stable payments.
Monitor FX trends using tools from top forex brokers.
Consider Forex Trading
Platforms for Better Value
Some forex trading platforms now provide business accounts. These accounts allow for large transfers, offer
real-time rates, and include tools to help manage risks. Although they are designed for forex traders, many
companies are starting to use them. This gives companies more control.
New traders and beginner traders should aim to keep things simple. Companies with experience or support from
a successful trader can get several benefits from this method.
Choices for funded account size
A trading environment that is less stressful
Tools to assist with bigger trades
Automate Your International Payments
Automating your payments can prevent errors and ensure that they arrive on time. Tools that help with this
process can reduce stress when trading. They also make it easier to manage monthly invoices or payroll in
GBP, EUR, or other currencies.
Many platforms also work with systems like Starling, Xero, or QuickBooks.
Avoid Scams and Protect Your Own Money
With many people doing business in different countries, scams are becoming more clever. You can protect your
funded account and own money by:
Only use financial services providers that are regulated.
Make sure to double-check the recipient’s details.
Stay away from offers from brokers that you did not ask for.
Check platforms with the Financial Conduct Authority or the Financial Services Authority if they are
not based in the UK.
Correct as of 24 March 2025
FAQs About Business
International Payments
How do I find the best exchange rate
for business transfers?
Compare offers from various providers. Check platforms with real-time FX tools. Consider locking
in rates for consistent payments abroad. Rates change every day, so it is important to stay
informed.
Can forex trading platforms be used for
business payments?
Yes, some platforms created for forex traders now offer features that businesses can use. These
options are helpful for companies that handle large sums of money. They also want improved forex
choices.
What’s the benefit of using a dedicated
business account?
A business account makes sure your company money is separate. It helps you
follow rules and gives you useful tools. You can exchange money more easily, move it faster, and
several users can access it.
Are there risks with automation in
international payments?
Automation can help you save time. However, it’s wise to check your setup rules and account
activity regularly. This practice can help prevent mistakes. It also ensures that your
withdrawal of funds is secure and occurs when it should.
How
can I make this process less stressful?
Use platforms designed for traders and businesses. Look for simple dashboards, useful customer
support, and tools for UK businesses that can work around the globe. A less stressful trading
environment allows you to focus more on growth.
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