Ready to simplify your international payments? With Melio, you can effortlessly pay your vendors around the world in their own currencies.
The payments are deducted from your account in US Dollars, and your vendor gets paid in their own currency.
Important note: An international vendor can’t receive payments in both foreign currency and USD
You can set a saved international vendor to receive payments in either USD or foreign currency. To pay a vendor who requested payment in their local currency, you’ll need to have two separate vendors saved - one for payments in USD and one for payments in foreign currency.
Important note: Can I make a future international payment with a foreign currency?
The day you schedule the payment will be the day it gets deducted. It will be pushed to the next business day in case it’s scheduled after processing hours. Read more about our payments timeline. We recommend making this payment on the day you want it deducted from your account.
This article will cover:
- Add an international vendor that accepts payments in foreign currency.
- Make an international payment with a foreign currency.
We recommend adding the vendor first and then scheduling them payments.
How to add an international vendor that accepts payments with foreign currency
1. Sign in to your Melio account.
2. Click Pay in the left sidebar.
3. Go to the Vendors tab.
4. Click Add vendor.
5. In Add vendor, enter the vendor’s details:
- Vendor business name
- Vendor’s contact name
- Email address
- Phone number
Click Continue.
6. When asked to choose the vendor’s delivery method, click Transfer foreign currency, under INTERNATIONAL.
7. Add the vendor’s account details. When you’re done, click Continue.
In VENDOR BANK DETAILS:
- Select the vendor’s country
- The currency will be automatically set to the country’s national currency
- Enter the account holder’s full name
- Enter the vendor’s IBAN or SWIFT number
In VENDOR LEGAL DETAILS:
- Enter the legal business name of your vendor
- Enter the vendor’s company address
Note: What currencies are available for international payment?
At the moment 16 currencies are available for international payment with a foreign currency. We’ll add more currencies to this list from time to time offering more possibilities.
- AUD- Australian Dollar
- BRL- Brazilian real
- CAD- Canadian Dollar
- CNY- Chinese Yuan
- EUR- Euro
- GBP- United Kingdom Pound
- GEL- Georgian Lari
- HKD- Hong Kong Dollar
- ILS- Israeli New Shekel
- INR- Indian Rupee
- KRW- South Korean Won
- MXN- Mexican Peso
- PHP- Philippine peso
- PLN- Polish złoty
- SEK- Swedish krona
- SGD- Singapore Dollar
8. Click Continue to finish.
That’s it, you successfully added an international vendor that accepts payments in their currency. The Open Balance section shows the currency in which the vendor receives payments.
To pay this vendor, enter an amount and click New payment to make a payment without a bill.
Or Click the three dots and select Create a bill from the dropdown list.
How to make an international payment with a foreign currency
1. Sign in to your Melio account.
2. Click Pay in the left sidebar.
3. Go to the Bills tab.
4. Click + New payment, Create a bill or select an international bill to pay.
5. In Vendor business name, confirm or start typing the vendor’s name.
6. In Bill amount, enter the amount you want to pay in the foreign currency.
7. Select the currency.
Note: What currencies are available for international payment?
At the moment 16 currencies are available for international payment with a foreign currency. We’ll add more currencies to this list from time to time offering more possibilities.
- AUD- Australian Dollar
- BRL- Brazilian real
- CAD- Canadian Dollar
- CNY- Chinese Yuan
- EUR- Euro
- GBP- United Kingdom Pound
- GEL- Georgian Lari
- HKD- Hong Kong Dollar
- ILS- Israeli New Shekel
- INR- Indian Rupee
- KRW- South Korean Won
- MXN- Mexican Peso
- PHP- Philippine peso
- PLN- Polish złoty
- SEK- Swedish krona
- SGD- Singapore Dollar
You get the amount in USD and the current rate for this payment.
Note: Adding the bill's details.
Adding the bill’s details isn’t mandatory. But if you have the invoice number and due date it can be useful for reconciliation purposes. You can also add a note to self and line items to break down the invoice total into various items. To add further details click +Advance bill details and follow directions here.
8. Click Continue to pay.
9. Select a payment method. You’re presented only with the methods that are available for international payments- bank account, Mastercard or Visa credit card.
10. Click Continue.
11. If this is the first time you’re making a payment with Melio, we’ll need more information about:
Business details:
Confirm and/or add the following details. Click Save and continue.
- Your company Name
- Your legal business name
- Legal business address
- The owner’s phone number
- Select the industry your business operates in
- Business Type
- Tax Id type
- Tax Id number. Learn more about the different tax ID number types.
Note: Business type is not supported
Currently, there may be business types and industries that are not supported for international payments with foreign currency. However, we are working on enabling more types in the future.
Account holder:
Complete the following and click Save and continue.
1. Enter the details for the owner of the Melio account:
- Date of birth
- Tax ID
- Home address
2. Check the box to confirm that the account owner holds at least 20% of the business.
Ownership details:
Fill in details for every owner of 25% or more of the company.
Use +Add another to enter the details of another owner.
Click Save and continue when you’re done entering the details of all owners.
For every owner enter:
- First name
- Last name
- Date of birth
- Ownership percentage
- Tax ID
- The owner’s address
Control person:
1. Select from the dropdown list a person who has responsibilities to control, manage or direct the business.
- Select a control person
- Select their role
2. Check the box to agree to Wise’s terms and conditions.
9. Click Done to continue.
Note: Is this a new vendor?
If it is, you need to add their account details.
In VENDOR BANK DETAILS:
- Select the vendor’s country
- The currency will be automatically set to the country’s national currency.
- Enter the account holder’s full name
- Enter the vendor's bank details including the account number. It might be the vendor’s IBAN number , SWIFT number or any other international transfers code their bank uses.
In VENDOR LEGAL DETAILS:
- Enter the legal business name of your vendor
- Enter the vendor’s company address
10. (Optional) You can leave a memo for your vendor. We recommend entering the invoice number. It’ll make it easier for your vendor to register the payment.
11. In Purpose of payment, select the purpose of your payment from the dropdown list.
Note: Need to attach an invoice?
Sometimes there’s a need to attach the invoice for a payment for compliance reasons.
1. Click the add icon.
2. Select the invoice from your device.
12. Review the details of the payment. Click Confirm and schedule.
Note: Will the rate change after I schedule the payment?
We're displaying the current rate, which is guaranteed for 30 minutes.
Once you click Confirm and schedule within the 30 minutes time frame, the rate becomes secured, and we ensure that your payment won't be impacted by any changes.
However, after 30 minutes the rate might change. This might happen due to rates fluctuating all the time.
That’s it! Your payment is scheduled. You can see a summary of its details.