Foreign Exchange Costs Money Transfer

How Smart Online Sellers Save on Foreign Exchange Costs

Information verified correct on February 23rd, 2017

Online sellers now have a cost-effective and secure way to save on foreign exchange costs with an international transfer provider.

As an American business selling your goods and services all over the world you will eventually need to transfer your profits back to U.S. dollars. A common problem when doing this, however, is finding an affordable way to repatriate the funds you earn without getting hit with huge fees and poor exchange rates. An international online seller account might be a way you can keep more of your profits when you make the money transfer each month.

Rates last updated February 23rd, 2017

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Ofx Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Currencies Direct International Money Transfers
$0 transfer fees with rates ... $0 transfer fees with rates at never more than a 2% markup.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More

Have we missed anything in the comparison table? Tell us

  • If the provider quotes a different rate to the one above please let us know
Rates last updated February 23rd, 2017

Enter your details to speak to a foreign exchange expert

By submitting this form, you agree to finder.com privacy policy
Ofx Logo

Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
  • Emigrating
  • Regular overseas payments
  • Risk management
  • Forecasting

Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Use promo code FREE to ... Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
Payoneer International Money Transfers
Ideal for worldwide business payments ... Ideal for worldwide business payments to more than 200 countries and 150 currencies.
USD 20
Online
Rates are always
changing, click to check
your price today
Go to site More
RIA Money Transfer
No fees for bank account ... No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries.
3 - 5 days
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Moneycorp Exchange Experts
Full-service specialist offering competitive exchange ... Full-service specialist offering competitive exchange rates on personal international money transfers.
USD 50 1 day
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
More

Have we missed anything in the comparison table? Tell us

  • If the provider quotes a different rate to the one above please let us know

What are international payments for online sellers?

International payments for online sellers allow you to transfer and repatriate the money you earn from selling products to overseas buyers. For example, if you’re selling books on an eCommerce website or marketplace and the buyer is in another country, you’ll need to find a way to transfer those funds back to the U.S., and to do it in the way that gives you the best value for your money.

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How do international payments for online sellers work?

Setting up an effective international payment method allows online sellers to repatriate their earnings back to America. Although some eCommerce sites will send payments to the U.S., they typically charge high fees for doing so and often don’t provide you with access to the best available exchange rate.

The solution to this is to find a specialist money transfer company to help you manage your international payments. These companies, such as World First, specialize in securely and cheaply moving funds around the world. They allow you to set up an account in the country where you are doing business, so you can receive payments from around the world via international marketplaces.

Then, when you want to transfer your money to America, these companies offer lower fees than eCommerce sites to help you to repatriate your funds much more cost-effectively. They also provide transfer options such as limit orders and forward contracts, allowing you to get the exchange rate you want for your transfer, when you want to transfer the funds.

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What are the types of international payments for online sellers?

Depending on your circumstances, there are several international payment options that may offer a range of advantages for you and your business. These options include:

  • One-off spot transfers. When you need to make a fast payment at the best available exchange rate, this is the option you would choose.
  • Recurring transfers. Many transfer providers allow you to set up a recurring payment plan for extra convenience.
  • Forward contracts. You can protect yourself against exchange rate fluctuations by locking in an exchange rate now for a transfer that will be sent up to two or even three years into the future.
  • Limit orders. This option allows you to specify a target exchange rate for your international transfer. Your transfer company can then monitor foreign exchange markets, and when the desired rate becomes available, automatically transfer your funds.

Making regular business purchases overseas? Learn about how to make a wire transfer

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How do I compare international payment methods?

You’ll need to consider the following features when comparing transfer companies and the options they offer:

  • Exchange rates. Getting the right exchange rate is critical to ensure that your international payments are cost-effective. Compare the rates offered by money transfer providers to see which one comes out on top.
  • Transfer fees. Check the fee that will apply every time you repatriate funds to America and whether it is reasonable. Even fees that seem minimal can add up over time, so shop around for the best deal.
  • Foreign account fees. Make sure you’re aware of any fees that apply to the foreign account you have to receive payments. Are there any ongoing fees or transaction fees to contend with?
  • Countries and currencies. In which countries can you open an account and in which currencies can you receive payments? The ability to access a wide range of international markets could be critical for online sales growth.
  • Flexible options. Does the provider only offer one-off transfers, or can you save time by scheduling regular payments? Are limit orders and forward contracts also available to help you get a better exchange rate?
  • Processing times. Time very often means money in business, so consider how long it will take each company to transfer the funds to your account from overseas.
  • Customer support. If you ever have a question or a problem with a transaction, knowing that prompt and friendly customer support is just a phone call away can provide peace of mind. See how you can get in touch with customer support and during which hours it is available.
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What should I look for?

Pros

  • Worldwide sales. Finding a cost-effective international payment option allows you to connect with customers all around the globe.
  • Save money. International money transfer providers can provide much better value for your business.
  • Get the best exchange rate. You can use transfer options such as forward contracts or simply choose when to repatriate your funds to the United States in order to take advantage of the highest exchange rate.

Cons

  • Fees apply. You’ll likely need to contend with transfer fees when repatriating funds to America.
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Things to avoid

One key problem that online sellers face is setting up an account to automatically transfer funds back to the United States on a set schedule — for example, every two weeks. While this can be convenient, it fails to take exchange rate fluctuations into account and often may not offer the best deal. Finding an account that allows you to pick and choose when to send money to America is recommended.

Another thing to avoid is simply opting for the default international payment option offered by an international eCommerce site. This usually involves settling for a lower exchange rate and paying higher fees than is necessary, so compare your options and shop around for a better value.

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Frequently asked questions

How long do transfers take?

Transfer times vary substantially depending on the transfer company and where you are sending funds from; however, transactions can be processed within 24 hours in many cases.

How do I track a transfer?

Specialist online money transfer companies will provide you with a tracking or reference number for each transaction. You can use this number to track your transfer online.

Should I use a bank to send international money transfers?

While banks can send secure international money transfers, they usually offer poor exchange rates and high fees. Online money transfer companies can often save you a significant amount of money.

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US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Use promo code FREE to send your first transfer for no fee, to over 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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