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How to send USD payments?

Steps and guidelines for sending USD payments to your counterparty.

Updated over a week ago

XREX Pay allows you to send USD payments directly to your counterparty's USD bank account—the recipient does not need to hold an XREX Pay account. Simply verify the beneficiary’s bank account details and initiate the transfer securely and efficiently using your multi-currency account.

Before sending a payment, make sure you've completed identity verification, added your counterparty's USD bank account, and enabled two-factor authentication (2FA).

Steps to send a USD payment

  1. Log in to XREX Pay and go to Quick actions.

  2. Click Send payment and choose the counterparty's account.

  3. Select the nature of payment:

    • Pre-shipment advance

    • Post-shipment

  4. Select the purpose of your payment.

    • If you select “Others”, please provide a payment description.

  5. Enter the payment amount and choose the account to deduct funds from:

    • USD

    • USDT: for USDT payments, please review the conversion rate and agree to the conversion terms

  6. Select the service fee arrangement:

    • Paid by you: fee deducted directly from your account

    • Shared 50/50: fee shared equally between sender (you) and recipient (counterparty)

    • Paid by receiver: fee deducted from the transferred amount

  7. Upload supporting documents and decide if a memo is needed for the nature of the payment.

  8. Review the payment details and confirm. XREX Pay’s review and payout processing takes up to 5 business days. The bank’s processing time is not included.

Steps to download the receipt

  1. Go to your account's homepage and scroll down to Transactions.

  2. Click the Payment tab and click on the transaction to view the details.

  3. On the right side, click Download.

Note:

  1. There are two types of receipts, depending on the time you download the document.

    1. Submission receipt: Available when the payment is submitted.

    2. Transaction receipt: Available when the bank executes the payment.

  2. The submission receipt will no longer be available once the transaction receipt is generated.

  3. The recipient (counterparty) will also receive both receipts separately at the mentioned time.

Important notes:

  1. Transaction limits:

    1. Maximum: USD 3,000,000.

    2. Minimum: USD 100.

  2. The service fee is 0.5% of the transaction amount, with a minimum of USD 60.

  3. Additional information

    1. We may request additional information or documents during the payment review process.

    2. The final amount received by the beneficiary may vary due to bank or intermediary fees.

    3. Service fee calculation is shown in the Payment preview.

  4. Cancellation

    1. Direct cancellation is currently not available on the platform.

    2. To cancel a transaction, please contact your designated relationship manager for assistance.

    3. Kindly note that cancellation may not be guaranteed if the transaction has already passed review and/or entered the payment process.

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