Automate Your US Supplier Payments with MTFX

For your US supplier payments, the MTFX platform not only streamlines your entire accounts-payable process but also automates your US supplier payments. Based on the recipient details you provide, MTFX automatically routes payments using the most efficient payment rail, SWIFT, ABA wire, or low-cost ACH, to minimize fees, eliminate correspondent deductions, and ensure suppliers receive the full expected amount.

Intelligent rail routing (ACH, ABA, SWIFT)

MTFX’s intelligent rail-routing engine eliminates the guesswork traditionally associated with cross-border supplier and vendor payments. Once you add a new vendor by entering their banking details, uploading their invoice, and choosing a payment date, the system instantly evaluates how the payment should be sent. It checks whether the supplier qualifies for low-cost ACH transfers, if an ABA domestic wire is available, or if a SWIFT transfer is required based on the bank’s location and routing details.

This ensures every transaction moves through the most cost-efficient and reliable rail, leveraging payment automation to optimize the process. By automatically selecting the optimal payment method, businesses reduce unnecessary fees, avoid intermediary deductions, and prevent short payments that often frustrate US suppliers, while also ensuring efficient vendor payments. Intelligent routing also standardises AP operations and improves processing speed, helping teams protect margins, implement AP automation, and strengthen vendor relationships.

Massive savings on FX conversions (up to 4 percent vs. banks)

Foreign exchange costs can erode margins for Canadian businesses paying US suppliers, especially when converting CAD to USD frequently. MTFX offers wholesale FX rates, tight spreads, and transparent pricing that can help companies reduce costs significantly. In many cases, specialist FX providers offer rates that may be several percentage points more competitive than standard bank spreads, depending on market conditions and transfer volume.

For example, a business sending $100,000 per month to American suppliers might face bank spreads in the range of approximately 2 to 4 percent. This could translate to an estimated $2,000 to $4,000 in FX costs each month. By comparison, working with MTFX typically results in much tighter spreads; for illustration, around 0.30 to 0.60 percent, or roughly $300 to $600 per transfer.

Across a full year, this illustrative scenario suggests potential savings of approximately $20,000 to $40,000, depending on market rates, bank pricing, and business transaction volumes. These savings can be reinvested into inventory, staffing, cash flow, or operational growth. Access to live rates and transparent pricing further empowers companies to time their conversions more strategically.

Built-in AP automation for US supplier payments

The MTFX platform includes advanced automation features that streamline the entire invoice-to-pay process for supplier payments. Businesses can upload payment batches via CSV or ERP integration, schedule recurring transfers, and automate invoice matching to eliminate manual reconciliation. Permission-based roles and dual approvals reinforce internal controls and enhance security while ensuring compliance, allowing teams to work quickly and confidently.

A multilevel audit trail captures all activity, supporting compliance and transparency. Real-time reconciliation syncs with your accounting system, reducing errors and minimising manual work at month-end. The reporting dashboard provides full visibility into payment status, FX costs, transaction history, and vendor summaries. These efficiencies reduce admin workload, increase accuracy, and allow finance teams to focus on strategic tasks instead of repetitive manual entry.

Faster, more reliable supplier payments

US suppliers favour working with companies that pay accurately and predictably. MTFX’s payment rails help businesses send full-value payments with no unexpected deductions or SWIFT correspondent fees. This creates predictable transfers that reduce delays caused by manual errors, missing routing details, or intermediary bank holdbacks.

Suppliers receive automated notifications, complete remittance data, and clear timelines, resulting in fewer disputes and better communication. Faster payments support stronger production schedules and more consistent supply-chain flow. When suppliers trust that payments arrive on time, businesses often benefit from better pricing, priority fulfilment, and more flexible terms. Reliable payment delivery ultimately strengthens your supply network and enhances your brand’s reputation.

Real-time payment tracking and notifications

MTFX gives AP teams full visibility from payment initiation to final settlement. Real-time tracking allows teams to monitor when funds are processing, completed, or awaiting confirmation. Receipts are available instantly, enabling teams to respond quickly to vendor queries and internal audits.

Automated supplier notifications reduce back-and-forth communication and prevent unnecessary follow-ups. With clearer visibility, businesses minimize delays, avoid lengthy bank investigations, and maintain reliable payment records. This transparency also improves cash flow planning, internal reporting accuracy, and vendor confidence, helping both sides stay in sync throughout the payment cycle.

ERP and accounting integrations

MTFX integrates seamlessly with major accounting and ERP systems, including QuickBooks, Xero, Netsuite, Sage, and custom enterprise setups. This ensures payment data flows automatically between systems, reducing reconciliation errors and eliminating the need for manual entry.

Integrated workflows create consistent financial reporting, cleaner vendor records, and greater operational accuracy. Finance teams save time at month-end and maintain stronger internal controls. These integrations support scaling businesses by providing centralised data, automated ledger updates, and streamlined approval processes, making cross-border supplier payments smoother and more efficient.

Dedicated support for corporate clients

MTFX provides access to experienced fintech FX specialists and corporate support teams who understand cross-border supplier payments. These experts help businesses choose the right rail for each transaction, optimise FX timing, and configure internal approval workflows. They also support large or urgent transfers and provide ongoing rate alerts and market insights.

This personalised guidance adds strategic value well beyond basic payment processing by ensuring compliance with international financial regulations. Whether you’re focusing on supplier management, onboarding new suppliers, integrating your ERP system, selecting the best payment methods, managing vendor payments and high-volume payments, or seeking a business payment solution, the MTFX corporate team ensures your operations remain efficient and cost-effective. For Canadian companies scaling their US supply chain, this level of support provides long-term stability, confidence, and improved financial performance.

How much can your business actually save?

Most Canadian businesses know they’re overpaying on cross-border payments, but very few realise just how much those costs add up over a full year. When you break down the true cost of paying US suppliers through traditional banks, wires, correspondent deductions, and wide FX spreads, the total impact on margins becomes impossible to ignore. Below is a realistic scenario that shows what a typical mid-size importer actually spends and how MTFX transforms those costs into measurable annual savings.

Monthly payment profile

Consider a Canadian importer working with around 15–20 US suppliers each month. If the average invoice is about $10,000 to $15,000, the company may be sending roughly $200,000 to $300,000 USD in monthly payments. On the surface, the process seems routine, pay suppliers and keep operations running. But the underlying costs can add up quickly.

Through a traditional bank, the business might pay around $30–$40 for each outgoing wire. With multiple payments every month, this can easily reach a few hundred dollars in fixed fees. Suppliers may also receive slightly short payments due to intermediary bank deductions; often an extra $10–$20 per transfer, creating reconciliation delays and potential friction.

The largest expense is usually the FX spread. For example, converting $200,000–$300,000 USD at a typical bank spread of around 2 to 3 percent could cost the business several thousand dollars per month in FX alone. When all these costs are combined, it’s not unusual for a company to spend well over $50,000 annually just to send funds across the border; much of which may be reduced with more competitive FX pricing and streamlined payment solutions.

Understanding MTFX's payment solutions

Now consider the same type of monthly payment profile processed through MTFX. With intelligent payment-rail routing, a large portion of suppliers, for example, around 10 to 15, can often be paid through ACH at no cost per payment. Any remaining suppliers who need faster settlement may be routed through lower-cost domestic US payment options, which are still significantly cheaper than standard bank wires.

Because transactions move through the US banking network, there are no intermediary bank deductions, meaning suppliers receive the full amount with fewer reconciliation issues and improved overall payment satisfaction.

The biggest efficiencies come from MTFX’s competitive FX pricing. In an illustrative scenario where a business converts roughly $200,000 to $300,000 USD per month, savings can reach several thousand dollars monthly compared to typical bank spreads. Over a full year, this can amount to tens of thousands of dollars in potential savings, achieved simply by using smarter payment rails and more favourable FX rates.

The impact most businesses overlook

The truth is simple: the majority of overpayment comes from FX spread, not wire fees. Businesses often underestimate how much they lose through inflated bank markups. By using MTFX, companies not only reduce operational costs but also protect margins, strengthen supplier relationships, and unlock capital that can be reinvested directly into growth.

The smarter way forward for US supplier payments

Paying US suppliers doesn’t need to be expensive, slow, or difficult. Most of the costs businesses face, wire fees, correspondent deductions, manual errors, and inflated FX spreads, are the result of outdated banking processes, not necessity. With improved efficiency, MTFX helps eliminate these unnecessary costs and streamlines the entire payment process. With intelligent rail routing, wholesale FX pricing, payment automation, accounts payable automation tools, deep workflow visibility, and efficient invoice processing, MTFX gives Canadian businesses a far more efficient and predictable way to manage cross-border AP. The result is lower operating costs, stronger supplier relationships, and payments that work as fast as your business needs them to.

If your AP team is ready to streamline US supplier payments and reduce costs from day one, MTFX is built to help you scale with confidence. Create your MTFX business account today and start sending smarter, faster, lower-cost payments with improved efficiency.

FAQs

1. How can Canadian businesses reduce the cost of paying US suppliers?

Canadian businesses can significantly reduce payment costs by using low-cost domestic rails like ACH and ABA instead of SWIFT transfers. SWIFT often triggers intermediary bank deductions, higher wire fees, and unpredictable settlement timelines. MTFX eliminates these issues by automatically selecting the cheapest available rail for every supplier based on their banking details. This reduces payment fees, removes correspondent deductions, and improves accuracy. When paired with better FX rates, businesses save thousands annually on cross-border AP.

2. What information is needed to send money to a US supplier?

To pay a US supplier, you typically need the supplier’s account number and the appropriate routing number. ACH payments require an ACH routing number, while ABA payments need an ABA wire routing number. Once these details are entered, MTFX automatically detects which rail the supplier qualifies for and routes the payment accordingly. This ensures faster settlement, fewer errors, and no unexpected deductions. Adding the invoice in the platform also helps streamline reconciliation and record keeping.

3. Why do US wire transfers sometimes arrive short?

US wire transfers, especially those sent via SWIFT, may pass through one or more correspondent banks before reaching the supplier’s account. Each intermediary can deduct a small fee, resulting in short payments that suppliers must chase down. These deductions disrupt AP workflows and strain vendor relationships. Using ACH or ABA rails avoids this issue because payments move through the domestic US banking system without intermediaries. MTFX automatically chooses the rail that delivers the full, clean amount to the supplier.

4. What’s the cheapest way to send money to US suppliers?

The most cost-efficient method is ACH, which is typically free or close to free when processed through a cross-border payments platform like MTFX. ACH avoids SWIFT fees, correspondent deductions, and high wire charges. When a supplier’s details qualify for ACH, the MTFX system routes the payment automatically to minimise costs. Even for urgent payments that require ABA wires, fees are far lower than traditional banks. This combination makes ACH-first routing the cheapest overall option.

5. Can I automate recurring supplier payments?

Yes. MTFX enables businesses to automate recurring vendor payments with tools like scheduled transfers, batch uploads, and recurring workflows. You can upload multiple invoices at once, assign approval roles, and set fixed payment frequencies so the system handles the execution automatically. Automation significantly reduces manual data entry, eliminates repetitive tasks, and prevents late payments. This is especially valuable for Canadian importers managing dozens of US suppliers every month, as invoice payment automation standardises AP processes and boosts operational efficiency.

6. Do suppliers prefer ACH, ABA, or SWIFT?

Most US suppliers prefer ACH or ABA payment methods because they receive the full invoice value without unexpected deductions. ACH is ideal for routine payments because it’s low-cost and predictable. ABA wires are preferred for urgent or same-day transfers. Suppliers generally dislike SWIFT because it may involve correspondent deductions and unclear tracking. By using ACH and ABA through MTFX, businesses improve supplier satisfaction, ensure compliance, reduce disputes, and create more reliable cash-flow expectations on both sides of the border.

7. How long do US supplier payments take?

ACH payments typically take one to three business days and are ideal for predictable, recurring invoices. ABA wires settle the same day when sent within banking cut-off times, making them appropriate for urgent payments. SWIFT transfers can take one to three days depending on intermediary banks. MTFX automatically selects the right rail based on priority, supplier details, and cost. This helps businesses match payment timelines with operational needs while reducing delays and settlement uncertainty.

8. Why does MTFX save money compared to banks?

MTFX saves businesses money through a combination of wholesale FX rates, intelligent rail routing, and zero correspondent deductions on domestic US rails. Banks often charge high wire fees and mark up FX spreads by 2 to 4 percent. MTFX offers tight spreads, transparent pricing, and automated routing to ACH or ABA whenever possible. This reduces total transaction costs dramatically. The platform also streamlines workflows, which cuts administrative workload and eliminates costly manual errors.

9. Can I pay suppliers in USD from a Canadian company?

Yes. MTFX allows Canadian businesses to send USD payments domestically within the United States or internationally. You can pay American suppliers via ACH, ABA, or SWIFT depending on their banking details, without needing a US bank account. This flexibility removes banking barriers and ensures suppliers receive funds faster and with fewer deductions. Combined with competitive FX pricing, businesses gain a more efficient, lower-cost way to manage regular USD obligations from Canada.

10. How does MTFX improve AP workflow?

MTFX enhances AP workflow by centralising payments, approvals, invoice attachments, FX conversions, and reconciliation in a single platform. Businesses can send bulk payments, automate recurring transfers, assign multi-level approvals, and sync data with accounting or ERP systems. This eliminates manual entry, reduces payment errors, and accelerates month-end closing. With real-time tracking and clear audit trails, teams gain better visibility and control across their entire US supplier payment process.

If your AP team is ready to streamline US supplier payments and reduce costs from day one, MTFX is built to help you scale with confidence. Create your MTFX business account today and start sending smarter, faster, lower-cost payments with improved efficiency.