Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is sending U.S. Dollars the best way to send payment to an overseas beneficiary?

April 26, 2017Beneficiary best Dollars overseas payment send

0

Posted

Is sending U.S. Dollars the best way to send payment to an overseas beneficiary?

1 Answer

0

Posted

Generally, it may be beneficial to send your payment in the local currency of the beneficiary (e.g., Pounds Sterling for the United Kingdom). U.S. Dollars sent to an account in a foreign currency will take longer and incur higher bank charges than if you send the local currency. Also, your overseas vendors may be adding those charges to the bills they are sending to you.