americanexpress.co.uk/fxip

GLOBAL PAYMENTS GETS EASIER

American Express
6th Floor, 230 Blackfriars Road, London SE1 8NW

Making payments to businesses overseas just got easier – thanks to the enhanced FX International Payments system by American Express. Five years ago the global foreign exchange specialist launched its internet-based system which combined competitive exchange rates and transaction fees with the convenience of a fast online service, available around the clock.

Now American Express has used the experience learned through its business relationships with hundreds of FX International Payments customers to redesign the system and launch a range of product enhancements, which mean that clients can spend less time on payment processing and achieve far more.

The timing couldn't be better as the world of business is, increasingly, being played out in the global arena. Many more SME businesses are joining large corporate organisations in buying from abroad in order to expand and maximise their growth potential. For these businesses American Express understands that whilst competitive cost might be the prime motivator, efficient time management is also a critical consideration.

"When we introduced our system five years ago, we knew that the option to initiate transactions online would put businesses in the driving seat 24/7 – instead of having to fit into a bank's working hours. Increasingly time had become a major issue, and paying for goods or services via our internet system provided a quick, reliable solution that was simple to use. Now the system has been redesigned to make transactions even easier and the range of services more flexible," said Rocco Magno, Director - FX International Payments from American Express.

Accessible from any PC, anywhere in the world, FX International Payments from American Express requires no additional hardware or software, which means that there are no set up costs or ongoing maintenance fees. In fact the cost could not be clearer, confirmed on screen at the time of the online transaction. And it's safe – with individually tailored password protection and advanced 128-bit encryption plus with the latest firewall technology.

MORE FUNCTIONS AT THE CLICK OF A MOUSE

Building on the original system, American Express has added a range of new functions to assist forward looking businesses to plan for greater profitability:

• Minimising risk is an important maxim for any business and one of the main dangers in the foreign exchange market is rate fluctuation. Purchasing a set amount of foreign currency in advance through Forward Contracts is one way to avoid getting caught out and this is now available online.
• Online quotes are now available in sterling for the value of incoming payments. By creating an incoming wire or draft online, American Express clients can gain faster access to funds as a result of the organisation's global relationships.
• Rate alert does away with the need to spend time watching exchange rates. Customers can simply input the rate they want and American Express will advise them when this is available.
• Businesses making regular, multiple payments can use the new file upload tool to upload transactions direct from their own accounting package, which saves time and helps to minimise potential keying errors.
• Automatic emails can be set up to advise beneficiaries that a payment is on its way and to inform an approver that payments are awaiting their approval.

FX International Payments from American Express brings a range of additional benefits for management. Standard online management tools have always included transaction histories. Now those payment histories can be sorted by date range, currency, status and product – exportable in an Excel format.

For further information call 0800 608028

or visit americanexpress.co.uk/fxip

 

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