To streamline cross-border transactions and provide a clearer, more consistent approach to international bank payments, Payhawk has introduced global payments.
With global payments, you can send funds in over 60 currencies to more than 70 countries worldwide using the global FX payments or the global same-currency payments.
The rollout of the global payments feature will be gradual, with availability initially for new UK and EU customers and expanding to existing customers over time. If you're interested in using this feature or have any questions, you can contact your Payhawk representative for more information.
Types of global bank payments in Payhawk
In Payhawk, you can execute the following types of global bank payments:
Supported currencies
You can transfer money globally in over 60 currencies. If you don’t see your desired country or currency listed in the Payhawk web portal, contact Payhawk Support. The Product team will explore potential options to support it.
Timeframes
Global payments typically take 1-5 business days to process, though this may vary depending on the destination country, local bank holidays, intermediary banking relationships, and regulatory requirements. For more information, browse the J.P. Morgan Official Website.
How global payments work
Expenses in Payhawk are processed either through local payment networks or via the global payment infrastructure. You will be able to make global payments only when local or regional rails, such as FPS or SEPA, cannot be used.
You cannot transfer funds between a company's Payhawk accounts that are in different currencies.
The currency of the supplier's bank account receiving the payment must match the currency stated on the invoice.