A cross-border payment provider moves money between a US business and its customers, suppliers and staff abroad, usually with currency conversion in between. The best provider for a US business is the one that fits the company's actual money flow, not the one with the longest currency list. Exporters care most about collecting from customers; importers care most about paying suppliers accurately and on time; wholesalers often need both, plus working capital and help when a payment is delayed.
The US market is crowded, and providers differ in regulatory structure as well as product. Most non-bank providers operate as state-licensed money transmitters, each with its own NMLS number (the identifier on the Nationwide Multistate Licensing System). The useful comparison covers final cost, currencies, local collection and payout, tracking, currency risk, support and what happens when a payment is held. This guide compares seven providers against those tests.
| Provider | Best for | Main strength |
|---|---|---|
| Airwallex | Digital-first, multi-market businesses | Global accounts, FX, transfers and spend tools |
| Wise Business | Simple international transfers and FX | Transparent pricing and local account details in 22 currencies |
| OFX | FX-heavy international businesses | Multi-currency payments with 24/7 human support |
| Convera | Mid-market firms managing payments and FX risk | Payments in 140+ currencies plus hedging tools |
| Corpay | Complex global payments and FX exposure | Mass payments, ERP import and currency-risk tools |
| Payoneer | Marketplaces and globally paid sellers | Receiving account details in 13 currencies |
| Helm | Importers, exporters and wholesalers | Collection and payout accounts with trade documents in one place |
| Provider | Main consideration | US structure |
|---|---|---|
| Airwallex | Breadth may exceed a simple trader's needs | Non-bank; see its US licence disclosures |
| Wise Business | Less focus on credit and relationship support | Non-bank; see its US licence disclosures |
| OFX | Not a bank account | Licensed money transmitter, NMLS #1021624 |
| Convera | A treasury relationship rather than a self-service app | Convera USA, LLC, NMLS #907333 |
| Corpay | Suits volume and complexity | Non-bank; see its US licence disclosures |
| Payoneer | Strongest where platform receiving is central | Non-bank; see its US licence disclosures |
| Helm | Corridors and onboarding depend on the business | Operating platform; licensed partners hold funds |
Airwallex is one of the broadest global finance platforms available to US businesses. It offers Global Accounts to collect and hold funds in more than 20 currencies, local transfers to more than 120 countries, SWIFT transfers to more than 200 countries, and cards and spend tools. Domestic USD and CAD transfers are free.
Conversion costs 0.5% above interbank rates for major currencies and 1.0% for all others, and SWIFT transfers cost $15 to $25. The Explore plan is free and the Grow plan is $12 per user a month plus a platform fee. Airwallex suits ecommerce, software and multi-entity businesses that collect in several markets and want one platform for payouts, cards and finance operations. A business that mainly pays three suppliers and finances stock may not need the full platform, so compare the features actually used and the rate on real corridors.
Wise Business is the benchmark for transparent international money movement. Pricing is the mid-market exchange rate plus a stated conversion fee that varies by currency and starts at 0.23%, instead of a margin built into the rate. US businesses pay a one-time $31 set-up fee, and Wise provides local account details in 22 currencies.
Exporters can receive foreign currency into local accounts, importers can pay suppliers, and a business can avoid converting twice when it receives and spends the same currency. Receiving a USD wire or SWIFT payment costs $6.11. Wise is less focused on trade finance, hedging or relationship support, so larger businesses often use it for selected transfers beside another provider.
OFX combines international payments, a multi-currency Global Business Account and 24/7 support from people. The account supports more than 30 currencies across more than 170 countries. OFX is a licensed money transmitter (NMLS #1021624) and states that the account is not a bank account, so it usually sits beside a primary bank as a specialist currency layer.
OFX states $0 FX fees on international payments made from held balances; the exchange rate carries the margin. It is most relevant where conversion moves gross margin, for example a US importer buying €5 million of goods a year or an exporter receiving substantial sterling revenue. The Standard plan is $0 per user a month; the Full Suite is $75 a month for five users plus $10 per additional user.
Convera is a specialist commercial payments provider serving small businesses through to large treasury teams, and states that it helps more than 26,000 businesses manage currency risk. Businesses can send single or batch payments in more than 140 currencies to more than 200 countries and territories, collect in more than 100 currencies and hold more than 60 currencies. In the US its services are provided by Convera USA, LLC (NMLS #907333).
Convera becomes relevant when currency exposure is a standing management issue, such as forecast euro supplier payments or sterling receivables. It offers forward contracts, which fix an exchange rate today for a payment due later, as well as FX options and swaps, with market insight and specialist dealers. A business making a few simple transfers a month will not need this depth; a mid-market importer or a multinational finance team often will.
Corpay combines cross-border payments, multi-currency accounts, currency-risk management and dedicated service. It states that it processes more than 4.1 million payments a year to more than 200 countries for more than 21,000 customers, and holds balances in nearly 40 currencies through its FXBalance account.
Mass payments can be uploaded as a file or imported directly from most ERP systems, which suits companies with large supplier runs, several entities or a complex accounts payable process. Corpay supports managing future currency exposure rather than converting only when an invoice falls due. It is a specialist service, so assess onboarding, pricing, treasury tools and implementation effort against the volume involved.
Payoneer is strongest where a US business is paid by international clients, marketplaces and digital commerce channels. It provides receiving account details in 13 currencies, supports more than 70 currencies and pays out to more than 190 countries and territories. Balances can be held in currencies including USD, EUR, GBP, CAD, AUD, SGD, HKD, JPY and CNY.
Payoneer charges an annual account fee of $29.95 only where the account receives less than $6,000 in any 12 consecutive months. Receiving and withdrawal fees vary by currency and corridor and are shown in its fee schedule. It suits ecommerce sellers, agencies and software companies whose revenue arrives through platforms or many small customers. A traditional importer making large factory payments will usually put supplier settlement, currency risk and trade finance first.
Helm, the firm's own business account and payments platform, is built for importers, exporters and wholesalers rather than consumer remittance. It brings collection accounts, payout accounts, currency conversion and trade documents into one place, with balances held by licensed partners in each region. Suppliers are paid on local rails, buyers pay locally, and each transaction carries its invoice, customs and tax documents.
Live corridors cover Latin America, Africa, the Gulf and South-East Asia to and from the United Kingdom, Europe and North America. Onboarding typically takes two to four weeks from documents, and pricing is a monthly platform fee plus the partners' transaction and conversion fees, set out in writing. It suits businesses with recurring, material international flows; occasional low-value transfers suit a simpler self-service provider. The Helm platform page sets out the corridors in detail.
Measure the final result, starting from the amount that leaves the US account. Add the exchange rate margin, the conversion fee, the transfer fee, any intermediary bank deductions, beneficiary bank charges and any top-up needed when a supplier is paid short. Then add the business cost of a late payment, such as halted production or a missed shipment.
For incoming payments, measure what the customer pays, what the US business receives and when the funds can be used. A customer who finds it hard to pay will pay later, which raises days sales outstanding (the average number of days it takes to collect an invoice). Test at real values and on real corridors: a provider that is excellent for a €5,000 transfer may not be the best for a $500,000 payment in Mexican pesos or for a weekly supplier batch.
| Cost item | Bank wire | Specialist provider |
|---|---|---|
| Stated fee | Set in the bank's fee schedule | Published per payment |
| Exchange rate | Bank rate including margin | Mid-market rate plus stated fee, or dealer rate |
| Intermediary deductions | Possible on SWIFT | Avoided on local payout routes |
| Supplier receives | Confirm with the supplier | Shown before sending on most platforms |
Cross-border providers increasingly combine local banking networks with international wires. A local payout pays the supplier through the domestic system in the supplier's country, which removes intermediary banks on supported routes. SWIFT remains essential for broad reach, high values and routes outside local networks, and the provider should explain which route each payment uses and what the beneficiary will receive.
At the US end, ACH moves dollars between the business's bank and the provider, and wires handle larger or urgent transfers. FedNow, the Federal Reserve's instant payment service launched on 20 July 2023, settles domestic payments around the clock, every day of the year, between participating US institutions. It speeds up funding a provider account but does not replace the international last mile. Choose the route per transaction rather than assuming one network is always better.
Some providers now settle cross-border payments in US dollar stablecoins, digital tokens backed one-for-one by dollar reserves, and convert to local currency at the other end. The GENIUS Act, the federal law for payment stablecoins, was enacted on 18 July 2025. It takes effect on the earlier of 18 January 2027, 18 months after enactment, or 120 days after the federal regulators issue final regulations; the OCC and other regulators have published their implementing rules as proposals.
For a US business, the practical test is the same as for any other route: who holds the money in transit, under which licence, what the supplier receives in local currency, and how the payment is documented for accounting and tax. Use stablecoin settlement through a licensed provider, on corridors where it improves speed or cost.
Importers should weigh supplier coverage, delivery to the beneficiary, conversion cost and working capital. Exporters should weigh customer collection, the currency they invoice in, receivables and how easy it is for customers to pay. Wholesalers may need both directions plus domestic business-to-business collections. A provider can excel at one side of the flow without being the best complete operating account.
For the account side, see our comparison of business bank accounts for importers and exporters and the guide to business bank accounts for wholesalers. For financing the gap between supplier payment and customer receipt, see how trade credit works for importers and exporters. Importers can compare payment methods in detail in the best ways for US importers to pay overseas suppliers.
Many businesses use several providers: a major US bank for core cash and lending, a trade platform for supplier and customer flows, and a specialist for a niche currency. Each relationship should have a defined role, with the finance team controlling balances, approvals and reconciliation. The goal is the smallest stack that delivers reliable collections, supplier payments, competitive conversion, financing where needed and accountable support. The firm's trade payments service arranges these accounts and corridors for trading businesses.
It depends on the business model. Airwallex suits multi-market operations, Wise suits transparent self-service transfers, OFX suits FX-intensive businesses, Convera and Corpay suit commercial FX and payments, and Payoneer suits globally paid sellers.
Supported countries and currencies, local collection and payout, the effective exchange rate, transfer and receiving fees, delivery to the beneficiary, tracking, approval controls, support, regulatory structure and any currency-risk tools.
No. Local rails are often faster and cheaper on supported corridors, while SWIFT provides broad bank-to-bank reach for high values and less common routes. Use the route that gives the best overall result for each payment.
Yes. Many use a primary bank plus specialist providers for resilience and better routes. Each added provider brings reconciliation and access controls to manage, so each needs a clear purpose.
Avoid unnecessary conversions, compare the exchange rate on realistic amounts, use local payout where it improves the route, agree who bears intermediary charges and consolidate recurring payments. Measure the cost of delays as well as fees.
No. FedNow is the Federal Reserve's domestic instant payment service between participating US institutions. It can fund a provider account quickly, but the international leg runs on SWIFT or the provider's local networks.
Some licensed providers settle cross-border payments in dollar stablecoins and convert to local currency for the supplier. The GENIUS Act sets the federal framework for payment stablecoins and takes effect by 18 January 2027 at the latest.
Buckingham Capital Consulting has obtained FCA payment institution licences for firms including Nexpay, Orbital and Global Send since 2013, and holds working relationships with the banks and payment providers that serve cross-border businesses. Its trade payments team arranges collection accounts, supplier payment routes and currency facilities for US and international importers, exporters and wholesalers.
Speak to an expert: WhatsApp +44 7563 115980, Telegram @buckinghamcapital or info@buckinghamcapitalconsulting.co.uk.
This article is general information, reviewed against the regulator’s published requirements on the date shown. It is not legal advice; the regulator’s current publications take precedence.