According to the U.S. Census Bureau, the top 15 U.S. trading partners are Mexico, China, Canada, Japan, Germany, South Korea, United Kingdom, India, France, Taiwan, Netherlands, Italy, Vietnam, Brazil, and Ireland. Bill.com supports international payments to the majority of these countries and now we are adding three more.
We’re excited to share that Bill.com is launching international wire transfers to Mexico, South Korea, and Taiwan, enabling U.S. businesses to send global payments in over 45 countries and 27 currencies. Click here to see the full list.
Now you can easily send and track payments in Mexican pesos, Korean won, Taiwanese dollars, and other supported currencies with no wire transfer fees and at competitive exchange rates. Furthermore, in contrast to some banks, we do not charge any fees to track payments from sender to recipient.
To help provide transparency on exchange rates, we've built a currency converter so that you can easily input your bill amount and see how much it translates into a local currency. For customers, login to your account and click the vendors tab to access the currency converter and let us do the math for you.
Below are simple steps for making international payments in local currencies with Bill.com:
Vendor: Sends you an invoice in U.S. dollars or their local currency.
You: Initiate payment in your vendor’s local currency through Bill.com, which is debited in U.S. dollars.
Upload vendor’s invoice, add recipient and bank account information.
Select payment amount and type of currency.
Receive email notification once payment is scheduled.
Vendor’s bank: Receives payment in local currency and credits to your vendor’s account.
For U.S. businesses sending ongoing payments to global vendors, suppliers, or other entities, it is essential to select an efficient and cost-effective digital payments process.
Key factors to consider are the ability to send payments in your country and currency of choice, track payments throughout the entire process, and make domestic and global payments in one place.
Are you ready to streamline your business payments process and consolidate domestic and global payments into one automated workflow?