Bulk Payments - International and Same Day                                                                                                                          

Bulk Foreign Exchange Payment

Axia Fx have launched a new 'Bulk Payments' Service whereby we offer you a method of sending these international payments quickly, securely and in a cost effective manner.

Same day payments from the UK which cannot be made by Faster Payment transfer will need to be made either by CHAPS if the funds are in Sterling or by International payment if it is any other currency. These payment may be overseas salaries or supplier payments either regular or one off. The likelihood is that you will have to instruct and authorise these payments individually using what ever on-line offering provided by your bank. They will then need to be counter authorised in the normal way using personal log–ins depending on the security protocols in place in your own company. The charges for this service vary enormously and in our research range from £15 to £35 depending on which of the retail banks you are associated with.  Axia Fx will be able to significantly reduce these costs. 

Why use Axia Fx for your bulk payments?

We provide

• No set up costs
• No management fees
• Reduced Overhead
• Bottom line cost reduction
• Lower administration costs
• Simplicity of operation                                    
• Secure funds transfer

We provide this service for many of our customers and an example of one of them can be found below.

LWF*** are a management company dealing with commission payments to agents all over the world. These payments range from $50.00 to $15,000.00 and are done on a daily basis depending on the terms with each agent. The volume of transactions ranges from 20 to 400 and although mostly in USD there are some Euro and Canadian Dollar payments also. This was a time consuming process for the company and they were being charged £22 for the service, including the receiving charges in the destination country. They sought to reduce their charges but found the banks a little intransigent and looked for an alternate solution. LWF*** were already successfully using Axia Fx for some foreign exchange transactions but found that Axia could offer a cost effective and convenient solution to their Bulk Payment issues.

Axia Fx were able to accept the beneficiary data in a simple format from LWF***. This information, once formatted, is available for future instructions each time a payment to that individual, or institution is required. Axia Fx then process the payments through their Secure Client Accounts using the well established security protocols, required by the FSA as an authorised and regulated company for Money Transfer. Because of the volume enjoyed by Axia Fx in their capacity as a Foreign Exchange company, they are able to offer much lower transfer costs than the standard retail bank charges. Using Bulk Payment Services from Axia Fx, LWF*** were able to reduce their costs by more than 55% and in addition, streamline their internal workload by passing the necessity for input to Axia Fx. .

If the funds are required in a different currency, then this too can be accommodated prior to distribution but still same day, and once again at much improved rates to those generally offered by the retail banks.

The funds for the transfers were sent in a single payment to Axia Fx and on the same day they were then distributed accordingly to the information provided in the instruction data. 

For more information on our Bulk Payment Services and to see how it could benefit you, please contact Mark Chambers on 0207 093 7857 or to email, click here 


*** the company name has been modified for this case study.