International Business Transfers with MTFX

MTFX helps businesses move money across borders quickly and securely with transparent pricing and competitive exchange rates. From supplier payments and contractor payouts to client refunds and inter-company transfers, you can create a payment, lock a live rate, and track delivery from your dashboard. This article shows you how the process works and how to keep transfers running smoothly.

How international transfers work

• Create a transfer in your MTFX dashboard and enter the amount and currency pair.
• Get a quote, then confirm your transfer.
• Add or select a beneficiary with complete bank details.
• Fund the transfer using the instructions provided.
• Compliance checks are applied where required.
• Funds are delivered to the recipient through local rails or SWIFT.

What is involved behind the scenes

• Our payment networks route the funds
• Currency conversion is applied where relevant
• Intermediary banks may be used for some corridors
• Delivery timelines depend on cut-offs, holidays, and verification

Transfer timelines

Most MTFX business transfers settle within 1 to 2 business days. Some domestic-style corridors can complete the same day, especially CAD to USD during North American business hours.

What affects speed

• Sending and receiving countries and currencies
• Bank cut-off times and public holidays
• Beneficiary bank type and local clearing rules
• Accuracy of beneficiary details
• Additional checks for high-value or first-time payments

Tip: If timing is critical, initiate transfers earlier in the business day and avoid local bank holidays on either side.

Costs and how to reduce them

Banks often charge fixed wire fees and add a markup to the exchange rate. MTFX uses transparent pricing with competitive FX so you know the true cost upfront.

Typical items that influence total cost

• Exchange rate margin
• Intermediary or receiving bank deductions in some corridors

Ways to save

• Compare the live rate in your dashboard before confirming
• Use saved beneficiaries to avoid rejections and resends
• Consider a Multi-Currency Account to hold funds and convert when rates are favourable

Key features for business users

• Competitive exchange rates that help protect margins
• Low, transparent fees with no hidden deductions from MTFX
• Fast processing with most transfers delivered in 1 to 2 business days
• Wide coverage across 50+ currencies and 190+ countries
• Real-time tracking and status updates in your dashboard
• Rate tools including live rates, rate alerts, and historical charts
• Business support from specialists who understand cross-border payments

Common business use cases

• Pay overseas suppliers

Send funds in a supplier’s currency to improve delivery times and reduce back-and-forth on amounts received.

• Pay international contractors

Set up recurring payouts with competitive FX and clear delivery timelines.

• Client refunds and settlements

Return funds in the original or agreed currency and track delivery end to end.

Multi-Currency Account

Hold, send, and receive in multiple currencies from one place. For example, fund a USD balance and pay US partners without converting every time. Convert when it suits your cash flow.

Benefits

• Hold multiple currencies in one account
• Reduce unnecessary conversions
• Choose the timing of FX based on market moves

Tracking and notifications

Know where your money is at every step.

• See live statuses in your dashboard
• Get email updates
• Use payment references for reconciliation and support queries

Best practices

• Enter exact beneficiary names and bank identifiers to avoid returns
• Initiate time-sensitive payments before cut-off in the sender and receiver time zones
• Save frequent beneficiaries and use templates
• Keep your profile and banking details up to date
• Respond quickly to any compliance follow-ups for first-time or high-value payments

Now that you understand the process, create a business account and set up your first transfer.