Plastiq launched ‘Plastiq Global Pay’ for payments to international vendors in local currency. There is a flat $60 payment wire fee (regardless of payment amount), plus you’ll pay the regular 2.85% Plastiq fee when you pay with a credit card.
Plastiq Global Pay (this link contains my referral)
You can choose for the vendor to receive the payment in US dollars or in local currency. Either way, your card will be charged in USD which helps avoid any foreign transaction fees for cards that come with those fees. Even cards which don’t have zero foreign transaction fees might sometimes give you a less favorable rate, whereas with Plastiq you should get the exact exchange rate from the time of the payment.
They promise 40+ countries will eventually be supported, but here are the countries currently supported: Cananda, United Kingdom, all of the European countries. As well as: United Arab Emirates, Australia, Switzerland, China, Czech Republic, Denmark, Hungary, Israel, Japan, Mexico, Norway, New Zealand, Poland, Romania, Russia, Sweden, Singapore, Thailand, Turkey, South Africa.
Foreign currencies available to pay in: Arab Emirates Dirham; Australian Dollar; British Pound; Canadian Dollar; Chinese Yuan Renminbi; Czech Koruna; Danish Krone; European Union Euro; Hong Kong Dollar; Hungarian Forint; Israeli Shekel; Japanese Yen; Mexican Peso; New Zealand Dollar; Norwegian Krone; Polish Zloty; Romanian Leu; Singapore Dollar; South African Rand; Swedish Krona; Swiss Franc; Thai Baht; Turkish Lira.
Payments are initiated through the regular payment system in your Plastiq account, you’ll see an option there for payments in foreign currencies. Same-day payments are available to the UK and Europe (probably comes with additional fee).
I image there are quite a few readers who are Amazon sellers with suppliers overseas, and this might be an interesting way of racking up points on those business purchases.
Check out our Plastiq review here. You’ll get a small bonus when you sign up to Plastiq with a referral link (mine is found above) – more details on the referral program can be found here.
No longer looking at Plastiq after they raised their fee to 2.85%.
Service Credit Union (yes, the one with the $100 referral program that just died) also offers international bill pay at a 1% fee.
Or one could just use Transferwise for a fraction of the cost.
What are their fees? Do they allow credit card?