Summary of the payment rail options and their fees
Our platform offers an automated, end-to-end payment process. You can send funds to customers in 37 currencies across 180+ countries using local payment rails or SWIFT.
International payments can pose complexities, occasionally concealing undisclosed fees. Below we breakdown the 3 core areas on how Crezco manages the landscape of fees associated with international transactions:
Exchange rate - the value of one country's money compared to another country's money. It tells you how much one unit of money from one country is worth when converted to the currency of another country.
Crezco ensures that you get the best exchange rate on the market as we pull exchange rates from multiple different providers when helping you process your international payment.
Variable fee - To support the smooth operation of our international payment services, a nominal processing fee of 0.30% applies for larger pairs and 0.35% for all others. This calculated fee ensures the efficiency and reliability of our global financial solutions, contributing to a secure and streamlined experience for our valued clients.
Fixed payment fee - The fixed payment can vary depending if you use local payment rails or SWIFT. See below for more details.
Local payment rails
Local payments are either domestic or SEPA for EU payments.
Fees are about £0.3 - £0.5 per bill, but please note that there are some local rails that can be more expensive (e.g Fedwire)
The cost to make a SWIFT payment with Crezco is £6 per bill. There can be SWIFT correspondent fees for transactions processed on SWIFT payment rails, this can vary depending on the destination and receiving bank.
If you would like to read more about SWIFT correspondent fees - click here