In today’s global economy, businesses regularly need to pay bills and invoices to international vendors and suppliers. However, managing international payments can be complex with currency conversions, fees, and delays. This guide covers tips and best practices for efficiently paying international bills.
Benefits of Paying International Bills Digitally
Paying international invoices online provides many advantages over traditional paper checks and bank wires
- Convenient 24/7 access from any device.
- Payment tracking and status notifications.
- Lower fees by paying in local currencies.
- Faster delivery with options like local bank transfers.
- Automatic syncing with accounting systems.
- Enhanced efficiency and control.
Key Steps for Paying International Invoices
Follow these key steps when paying international bills digitally:
1. Review Invoice Details
Carefully review the vendor’s bill for amount due, currency, bank details, due date, and invoice number. Clarify any questions before submitting payment.
2. Select Optimal Payment Method
Choose the best option based on factors like speed, cost and currency needs. Top choices are bank/wire transfers local clearing networks, cards, and mobile wallets.
3. Enter Required Information
Submit the vendor’s account details, amount in correct currency, any reference codes, and your payment source information as prompted.
4. Double Check before Submitting
Carefully verify all entered details to avoid delays or misdirected payments. Check for any bank/transaction fees disclosed.
5. Save Confirmation and Notify Vendor
Download and save the payment confirmation for your records. Alert the vendor that payment is on the way.
Tips for Paying International Invoices Smoothly
Keep these tips in mind when paying international bills:
- Pay in local currency whenever possible to avoid extra conversion fees.
- For fast delivery, leverage local bank transfers and clearing networks specific to the vendor’s country.
- If paying by card, notify the vendor first in case they block international transactions.
- Save payment information for frequently used international vendors for faster future payments.
- Confirm with vendors their preferred payment methods and details to prevent errors.
- For large payments, check if bank wires offer better exchange rates and lower fees.
- Set payment reminders and confirm delivery to avoid late payments.
Top Digital Payment Methods for International Invoices
Here are some top options for paying international supplier and vendor bills digitally:
- Local Bank Transfers – Fast settlement using local bank networks and recipient accounts. No incoming wire fees.
- SWIFT Bank Wires – Secure global standard for international wire transfers.
- Debit/Credit Cards – Simple but may have higher foreign transaction fees.
- Mobile Wallets – Low-cost option in some countries like Paytm in India.
- Payment Services – Solutions like PayPal facilitate easy international money transfers.
Evaluate the best fit for your specific vendor, location, currency, and amount when selecting a payment method.
Key Platform for Managing International Payments
A dedicated international payment platform makes it easy to pay bills from anywhere, in one unified system. Core features include:
- Payment processing in 130+ currencies and countries.
- Local bank transfers for fast international delivery.
- Competitive foreign exchange rates.
- Automatic syncing with accounting systems.
- Vendor invoicing and bill management.
- Robust reporting and reconciliation.
- Approval workflows and payment controls.
- APIs for easy integration and automation.
Look for an intuitive, user-friendly platform that provides complete control over international payments, invoicing, accounting, and reporting.
##Conclusion – Pay International Bills Digitally with Ease
Paying international supplier and vendor invoices is simple and efficient using modern digital payment methods. Follow best practices like paying in local currencies, leveraging local bank networks, and using dedicated international payment platforms. This enables businesses to easily manage global payments, avoid errors, save on fees, and get invoices paid quickly. Integrating international payment automation with accounting systems further streamlines the entire process.
Quick and easy international payments
Available in 17 currencies to more than 40 different countries, our International Bill Pay services allow you to schedule payments for things like rent or utilities easily no matter where you are in the world.*
Use International Bill Pay to make recurring and/or one-time payments in the Australian Dollar, Bulgarian Lev, Canadian Dollar, Czech Republic Koruna, Danish Krone, Euro, Great Britain Pounds, Hong Kong Dollar, Israeli Shekel, New Zealand Dollar, Norwegian Krone, Polish Zloty, Romanian Leu, Singapore Dollar, South African Rand, Swedish Krona, and the Swiss Franc.
- One-time or recurring payments available.
- Payments go directly to your payee or creditor.
- Low fees of $1.00 online and $2.00 in-branch.
- International Bill Pay is available through Online Banking and the Service Credit Union mobile app.
- Automatically add payee info with photo capture (available for German bills only).
- Euro payments should reach the beneficiary within 1 – 2 business days. Processing of non-Euro payments may take 3-5 business days.
Compare the American dollar against currency elsewhere in the world. We update foreign currency exchange rates daily after 4 pm CET, at the end of the European Union trading day, so you always know the value of your American dollar.
Utilizing the Single Euro Payments Area (SEPA), makes transactions between European countries quick and easy. Simply present your International Bank Account Number (IBAN) and the Service Credit Union Bank Identifier Code (BIC) to authorize a debit on your account.
Since many European merchants don’t accept major credit and debit cards, V PAY offers a smart and secure way to shop. V PAY is accepted throughout much of the European Union and works just like a debit card.
*Recurring International Bill Pay payments are available only from a Service CU checking account. One-time International Bill Pay payments are available from any share or share draft account with an available balance that is eligible to make transfers. If the account selected for payment does not have sufficient available funds at the time the transaction is processed an overdraft charge will be debited from the account and the associated payment may not be executed. Automatic debits are available only to merchants in Europe. Select any day of the week to make recurring payments weekly, biweekly, monthly, or quarterly. International Bill Pay incurs a $1.00 fee per online or mobile transaction and for recurring payments. One-time International Bill Pay transactions initiated in a branch, over the phone or through chat incur a $2.00 fee per transaction. Service CU is not liable for, and has no influence over the conversion rate applied to the conversion of the funds. All payments are transferred in the selected currency. If the beneficiary accounts to which the funds are ultimately credited is not denominated in the selected currency, the amount will be converted to the appropriate currency (i.e. British Sterling, Swiss Franc, Swedish Kroner, etc.) or returned by the receiving financial institution. Any funds returned to SCU will be converted using the reconversion rate in effect on the date of credit.
International Bill Pay
FAQ
Can you pay bills internationally?
Quick and easy international payments Payments go directly to your payee or creditor. Low fees of $1. 00 online and $2. 00 in-branch. International Bill Pay is available through Online Banking and the Service Credit Union mobile app.
Can Bill.com pay internationally?
Bill. com offers support for international payments, enabling businesses to easily pay vendors globally. Here are some key capabilities: Multi-currency payments: You can use Bill. com to deliver the payment in your vendor’s local currency.
How much does International Bill Pay cost?
Select any day of the week to make recurring payments weekly, biweekly, monthly, or quarterly. International Bill Pay incurs a $1. 00 fee per online or mobile transaction and for recurring payments. One-time International Bill Pay transactions initiated in a branch, over the phone or through chat incur a $2. 00 fee per transaction.
How do I send international payments?
Select the international vendor from the drop down. Bills in local currency will show the currency and the current estimated exchange rate on BILL. To send money to another country, choose the bill you want to pay and click “Pay.” For added convenience, opt to make bulk payments Hit submit when ready to pay.
Does Bill accept international payments?
BILL also allows international card payments with Visa, Mastercard and Discover, which have a 2. 9% transaction fee and are subject to the exchange rates and other fees detailed above. How long do international payments take?.
How do I pay a bill?
When you select a bill to pay, BILL will show you the currency and an estimate of the current exchange rate for that bill in your own currency. To send money to another country, just select the bill you For added convenience, opt to make bulk payments Hit submit when ready to pay. The bill will appear in scheduled payments along with all domestic and international payments.
How do I pay international contractors?
When you have a lot of international contractors to pay, Wise Business makes it easy to send everyone their money at once. It will be about the same as what you see on Google. This will save you and your foreign workers a lot of money. You aren’t likely to get that from a bank.
How much does it cost to pay a German Bill?
One-time or recurring payments available. Payments go directly to your payee or creditor. Low fees of $1. 00 online and $2. 00 in-branch. Automatically add payee info with photo capture (available for German bills only). Euro payments should reach the beneficiary within 1 – 2 business days.
