How to Pay Overseas Suppliers Securely

A secure, easy-to-use payment method to pay international invoices can make a huge difference to the efficiency of your company’s processes and to its bottom line. Given the many different options available, such as banks and third-party money transfer services, knowing how to pay overseas suppliers securely, quickly, and reliably can be tricky.

Bank vs Money Transfer Services

Your bank undoubtedly does a fine job of protecting and managing your funds, but is it the best option for paying overseas suppliers? While banks and international payment providers such as NewbridgeFX both can send money to overseas bank accounts in different currencies and do this using similar methods, clients will find they incur different levels of charges and different paces of transfer.

The traditional way to transfer money abroad is to use a wire transfer (also known as a telegraphic transfer). These transfers take place over an international network that connects banks in most of the world’s countries, known as SWIFT. SWIFT transfers are secure and allow real-time payment tracking which helps provide all parties involved in the transfer peace of mind and enables better planning for when the funds will be received. However, as a client if you utilise a SWIFT transfer via a bank, you often have to pay the expensive charges that come alongside this secure network which can be steep. If you complete a SWIFT transfer using NewbridgeFX, as a specialist foreign exchange provider, we do not pass on any of the fees to our clients enabling you to just enjoy the benefits of this secure, trackable method of international money transfer at no extra cost.

As well as making international payments via the SWIFT network, NewbridgeFX can also settle international payments via Local Payment methods with no additional fees.  Local Payments are where we hold bank accounts in the country which we are making payments to, the payment is sent from our local bank to the beneficiaries bank located in the same country, therefore potentially making the payment more efficient. Local payment routes include ACH (in the US), Faster Payments (in the UK), and SEPA (across the EU).

Choosing the right international payment provider

Knowing the important differences between banks and international payment providers is only one step to learning how to pay overseas suppliers securely. You also need to know how to choose the right provider. When choosing an international business payments provider, look for the following:

  • Consistent service: The provider you choose should offer superior customer service bespoke to your business’ unique needs. NewbridgeFX offers focused personalised service, competitive pricing, and tailored solutions, along with access to a market leading foreign exchange and international payment management online platform.
  • Options: Alongside risk management, your chosen provider should offer a range of services that enable you to participate in global money transfers with limited restrictions. For example, with a NewbridgeFX business account you can create a single business or individual account and receive payments in multiple currencies within one place. This allows full international transfers to take place without the hassle of holding multiple accounts for each currency you utilise. This reduces the administration time for you and allows simple management of all your funds, enabling you to spend time driving your business forwards and doing the things that matter.
  • Rates: As exchange rate margins and transaction fees when paying overseas suppliers and staff can affect your business’ bottom line, your chosen provider should offer good rates and low fees. NewbridgeFX offers competitive rates and pricing.
  • Reliability: High-demand trading events can lead to instability in peer-to-peer transfer models, so you should choose a provider with a proven stability record, such as NewbridgeFX. We offer real-time reporting and tracking of payments, conversions, and incoming funds.
  • Speed: Choosing a provider that offers fast international payments and currency conversions means you do not need to worry about when your overseas supplier will receive the funds. With NewbridgeFX, real time Swift and local payments are settled on the same day.

Effective managing risk

Knowing how to manage risk effectively is the third step to paying international vendors securely. Effective risk management can help to mitigate currency risk to protect your business and your funds against foreign exchange volatility. NewbridgeFX offers three essential risk management solutions for paying overseas suppliers:

  • Forward Contracts: Lock in exchange rates for specified future dates with forward contracts. These can be helpful if you need to pay international suppliers regularly.
  • Market Orders: Choose a specific rate above the current exchange rate with a limit order. If the rate is reached, the transaction is secure, and the payment is processed at that rate. These can be helpful if you need to pay various suppliers in the same currency. Market orders are also helpful if you have flexibility regarding when you pay suppliers.
  • Spot Contracts: Settle one-off invoices by paying overseas suppliers immediately with spot contracts. The exchange rate used is the live market rate between two currencies, and payment is settled on the same day.

The best way to pay overseas suppliers

Offering fast, secure payments, easy-to-use online platforms, competitive rates and fees, efficient and reliable service, and effective risk management solutions, NewbridgeFX is the best way to pay overseas suppliers. Register for a business account with us.



NewbridgeFX offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients. A lot of these products are ways for businesses, and individuals, to manage and mitigate currency risk, and are used frequently during times of increased volatility. Alongside up to date foreign exchange related market news, which works in tandem with our range of products. 

Spot Contract

Lock in an exchange rate for immediate onward settlement. Funds can be received the same day.

Forward Contract

Lock in an exchange rate today, but for settlement at a later date that suits you, up to 12 months in the future.

Market Order

We monitor the markets real time and take action to trade between currencies when your desired rate is achieved.

Rate Alerts

Set an alert for phone or email notification when an exchange rate has be achieved to take advantage at the best time.