The Incoming Forward Contracts feature in American Express® FX International Payments lets you sell a set amount of foreign currency to be recieved at a fixed rate.
To access Incoming Forward Contracts, go to Create & Manage Payments > Incoming Forward Contracts, then:
1Choose Fixed or Window from the Incoming Forward Type drop-down menu.
2Select the Currency of Contract and enter the Contract Amount.
3Enter the Maturity Date by which the full contract must be settled in the pop-up calendar.
4Once you have entered all the mandatory information, click Quote.
5The Summary box will then show details including the Currency of Contract, Product, Payment Amount, Rate, Total Cost, and Maturity Date.
You have two options to complete your transaction:
1If you have the required authorization, click Accept to execute the transaction immediately. As an additional security measure, you must re-submit your Username and Password. Then click Approve Payments. If successful, you will see 'Your Payment is Complete' followed by the Payment Reference Number.
2If you do not have the required authorization level, click Send for approval and check the box to alert an approver by email. The transaction will be sent to Approve a Payment. For more details, view the Approve a Payment tutorial.
With both options, you will be able to Print Details of the transaction. To start the process again, click Create Another Contract.
Any open contracts will be displayed in the lower portion of the Incoming Forward Contract section. Here you can view the details of each open contract, such as the Creation Date, Amount and Total Cost, and make drawdowns. To make a drawdown on an open contract, click the Drawdown button.
1Choose Outgoing Wire or Outgoing Draft from the Product drop-down menu. The amount Available for Drawdown will be indicated.
2Choose how much you wish to drawdown from the available amount by completing the Incoming Currency field.
3Select the appropriate Credit Account from the drop-down menu.
4Enter the Value Date you expect the funds to be received.
5Once you have entered all the mandatory information, click Continue. The Summary box will then show details, including the Amount, Rate, Sub Total, Fee, and Total Cost.
Note: If the incoming drawdown is pending more than five business days before the payment is received, it may be cancelled.
You must enter the information for the customer sending the payment. To do so, either Select from Your Existing Originating Payer List or Create New.
To select from the existing list, simply search or scroll through and click the appropriate one; the information fields on the right will be automatically populated.
To create a new ordering customer, manually enter the information in the fields on the right. For more details, view the Originating Payer tutorial.
For outgoing wire transfers, the payee section will display the Search for Bank option. Here you can search for payee bank details either by IBAN or country. After entering your search criteria, click Search and select the appropriate bank from the results displayed below; the information fields will be automatically populated.
You have two options to complete your transaction:
1If you have the required authorization, click Accept to execute the transaction immediately. As an additional security measure, you must re-submit your Username and Password. Then click Approve Payments. If successful, you will see 'Your Payment is Complete' followed by the Payment Reference Number.
2If you do not have the required authorization level, click Send for approval and check the box to alert an approver by email. The transaction will be sent to Approve a Payment. For more details, view the Approving a Payment tutorial.
With both options, you will be able to Print Details of the transaction.
Existing members
Our Customer Service team is available 24 hours a day, Monday through Friday.
1 888 391 9971.
New members
New to American Express? Give us a call on 1 833 319 7265. Our Customer Service team is available 24 hours a day, Monday through Friday.
1 833 319 7265
Existing FX International Payments customers log in here
FX International Payments is a service of American Express Travel Related Services Company, Inc. ("American Express"). This service is not available to consumers. To enroll in this service, your business will be required to complete an application, which is subject to review and approval by American Express.
1. FX International Payments incorporates encryption, both for stored data (such as account information) and for payments created and transmitted in real-time. The FX International Payments platform is deployed within American Express’ state of the art data center that features advanced online and offline security and monitoring against internet attacks. FX International Payments implements American Express standards relating to information integrity, transaction security and information security.
2. American Express makes money from currency exchange.
3. Transfer times for Outgoing Wire Transfers, typically 1-4 business days (delivery times depend on currency and country).
4. Forward contracts are not suitable for every business. American Express is not providing you with legal, tax or financial advice. We recommend that you consult your own advisers to determine whether Forward Contracts are suitable for you. Eligibility requirements apply.
5. One (1) Membership Rewards® point will be awarded for every USD $30 your business wires internationally using the FX International Payments (“FXIP”) service. The maximum award per transaction is 4,000 points. Not valid for same currency wire transactions (e.g. US Dollar to US Dollar). For a designated Card Member to be eligible to receive Membership Rewards points, your business must first enroll in the FXIP service. Your business must also complete and submit to us a form designating an American Express Card Member who is already enrolled in the individual Membership Rewards program to whom points will be credited. With respect to a company enrolled in the Corporate Membership Rewards program, any earned points will be credited to the relevant Program Administrator Corporate Card linked to the company’s Membership Rewards program. If you select a basic personal American Express Card Member or a basic small business American Express Card Member (e.g., OPEN from American Express) to receive the award of Membership Rewards points, please note that the designated Card Member for that personal or small business account is authorized to determine how and when to redeem those points. You agree not to make any claims against American Express with regard to the manner in which the basic Card Member redeems such points. The American Express Card Member you select to receive the award of points, or in the case of Corporate Membership Rewards, the company, must be current and enrolled in the Membership Rewards program at the time the transaction is initiated. FXIP must have a completed registration on file for the Card Member’s Card account or company’s Program Administrator Card Corporate Card account, and there must be no unpaid FXIP obligations of your business or other violation of or defaults under the FXIP Terms and Conditions at the time of point fulfillment. No points will be awarded retroactively for transactions processed prior to the enrollment of the business in the FXIP service and the processing of the Membership Rewards program registration form. In the event a registered Card is lost, stolen or renewed, you must register the new Card by submitting an updated form to FXIP with the new Card information. Processing of the registration form takes approximately 2-4 weeks. To obtain a registration form, call 1-833-319-7265. Points will be credited to the Card Member’s Membership Rewards program account or Corporate Membership Rewards account, if applicable, within 10-12 weeks after the eligible transaction is completed. Membership Rewards points that are awarded for transactions with FXIP are subject to the terms and conditions of the Membership Rewards program, including rules regarding forfeiture of Membership Rewards points. Note that the rewards available in the Membership Rewards program vary depending on the type of American Express Card enrolled in Membership Rewards. The value of Membership Rewards points varies according to how you choose to use them. To learn more, go to Membership Rewards. Participating partners and available rewards are subject to change without notice. See Membership Rewards Terms or call 1-800-AXP-EARN (297-3276) for more information. A company that is enrolled in Corporate Membership Rewards, and points earned under that program, are subject to the terms of the Corporate Membership Rewards program (see Membership Rewards – Corporate TnC). Transactions by university or financial institution clients are not eligible for this offer. FXIP reserves the right to change, limit, modify or cancel this offer at any time.
Bonus ID A9PE
It is your responsibility to find out if you are liable for any federal, state or local taxes as a result of earning or using points.
FX International Payments is a service of American Express Travel Related Services Company, Inc. ("American Express"). This service is not available to consumers. To enroll in this service, your business will be required to complete an application, which is subject to review and approval by American Express.
Click here for information about addressing complaints regarding our money services business, lists of our money services business licenses and other disclosures.
NMLS ID # 913828