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American Express money transfer business

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American Express is decommissioning its FX offering by the end of 2023.

In May 2023, Amex decided to discontinue its foreign exchange services for business customers outside the US by the end of 2023. This decision will impact Amex's Australian workforce and the businesses that rely on Amex for their operations.

The primary reason for Amex's exit from Australia is attributed to the "significant foreign exchange volatility" resulting from aggressive monetary policy tightening by global central banks. In 2022, a mere 22% of Amex's total revenue came from business activities outside the US. However, businesses that require international money transfers still have a range of other providers to choose from, some of which might offer more competitive rates and lower fees.

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Product details

Product Name American Express money transfer business
Customer Service Phone, Email
Maximum Transfer Amount Unlimited

What are the fees for sending money with American Express?

Though you won’t pay fees for opening or maintaining an account, or for receiving incoming currency payments, you’ll see fees on your outgoing foreign and same-currency payments – and it won't be clear what they are until you start a transfer.

The fees depend on your recipient's country and the amount of money you’re sending. Any fees are deducted from your connected bank account.

What services does Amex offer for international payments?

Make one-off outgoing and incoming transfers, as well as:

  • Forward contracts. Lock in today's exchange rate for up to to 12 months.
  • Foreign currency drafts. A quick solution to getting a cheque overseas that's much faster than sending one by mail.
  • Rewards. If your business has an American Express card, you could earn reward points for every $30 you transfer. Use the points for things like shopping, travel and dining.


  • Easy to use. You can lodge your invoice online or over the phone.
  • Variety of transfer options. Choose from bank transfers, foreign currency drafts, cross-currency transactions and forward contracts.
  • Extensive currencies worldwide. You can make payments in more than 80 currencies.
  • Rewards. If you’re a cardholder, you can earn rewards for every $30 that you transfer.
  • Low fees. There are no set-up or maintenance fees, and no fees for incoming currency payments.
  • Keep records of payments. American Express keeps a record of all of your transfers.


  • Limited customer service. Customer support is only available Monday through Friday.
  • Transfer fees. Fees for outgoing foreign and same-currency payments are only made available after you initiate a transfer.
  • Foreign exchange rates. While you receive real-time access to foreign exchange rates, these may not be available outside of business hours.

How do I make international payments through American Express?

  1. Sign up. Provide your name and the name, address and phone number of your business, then American Express will confirm your info to verify your account.
  2. Contact FX International Business Payments. Once you place an order overseas, log into your account or call and provide the supplier with your information.
  3. Lock in your rates. Once you provide the details of your transfer, your rate is locked in.
  4. Make your payment. Initiate the payment over the phone or online.

Next steps

  • Manage your international payments. Keep track of your transfers, upload files to save time and reduce errors and link your account to any Australian business bank all through your account.
  • Get support. Customer support is available for you Monday through Friday by calling 1300 885 749, though you can access the online system 24/7.

What are some alternatives for business transfers?

Use our comparison calculator to assess the transfer fees and exchange rates of our money transfer partners when sending money overseas.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Qantas Business Money
Within minutes
Limited time offer: Earn up to 125,000 bonus Qantas Points as a first-time converter. Ends 30 April 2024. Conversion limits and T&Cs apply.
Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
Within minutes
Streamline global payments in 60+ currencies. Send & receive securely in 150+ countries, with fast settlements & competitive rates. Simplify book-keeping & manage everything in one place.
TorFX Business Transfers
24 hours
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
OFX Business Transfers
24 hours
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
24 hours
From $0
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
Send business
24 hours

Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.

Bottom line

With over a century of experience, American Express offers an easy way to settle up with suppliers overseas in almost any country you do business with. The company claims to have competitive exchange rates and fees, but those aren't clear until you register your business and start a transfer.

Compare other overseas fund transfer companies for businesses before deciding what's best for your business.

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