When you pay an international invoice through Accounts Payable, Weel shows an estimated FX rate, fee, and total amount, then confirms the final figures once Nium processes the payment. International bill payments carry a 0.95% FX fee based on the transaction amount, plus a fixed USD $25 SWIFT fee where it applies. Knowing these costs lets you plan with confidence.
How It Works
- Estimated upfront: When you set up the payment, Weel shows an estimated FX rate, converted amount, FX fee, and total based on current market rates.
- Confirmed at processing: Nium confirms the final rate, fee, and amount at processing: immediately for same-day payments, or on the scheduled date for future-dated ones.
- Market movement: FX rates can move between setup and processing, so the final amount may differ slightly from the original estimate.
- FX fee: International bill payments carry a 0.95% FX fee based on the transaction amount, so it scales with the size of your payment.
- SWIFT fee: A fixed USD $25 fee applies when your supplier is paid via SWIFT, converted to your account currency at the prevailing exchange rate.
- What you need: You'll need enough Weel balance and budget to cover the converted amount, the FX fee, and any SWIFT fee.
Good to know
- The SWIFT fee doesn't apply to domestic remittances or to currencies where SWIFT is used as the local payment rail.
- If your budget doesn't have enough allocation, Weel notifies the budget owner so it can be topped up before the payment fails.
- For more on the risks of currency conversion, see Weel's Product Disclosure Statement (PDS).