Feature Overview
Spendesk now offers you the ability to pay your international invoices directly from the Spendesk product, allowing you to centralise your invoice payments (and expense claims on a later stage) in one single tool. To enable that, Spendesk has partnered with Wise, a worldwide payment service provider offering global payments infrastructure for banks and enterprises. This partnership with Wise allows Spendesk to natively embed the international wire transfer capability into the platform for a seamless and fully integrated invoice payment experience.
Key Benefits
Global Reach — Spendesk supports transfers to up to 71 countries and 31 currencies. Check out the list of supported currencies and countries.
Faster transfers — 65% are instant, 95% are completed within the day.
Cost-competitiveness — ****Exchange rates at mid-market price sourced from Reuters and competitive pricing.
Full transparency — up to date rate, no hidden fees, and visibility on processing time.
One central dashboard — to manage and track everything in one place.
Quick setup — just a few clicks to get started.
Efficiency — Save time with a payment experience that integrates seamlessly with your existing Spendesk invoice (and soon expense claim) payment workflows.
Differences for EEA and UK Customers
EEA Customers
Transparent Wise Partnership: For EEA customers, the Wise integration is seamless and does not require direct interaction with Wise.
Required Information: EEA customers must ensure they provide their UBOs and directors’ countries of residence.
Updating UBOs and Directors: If not already updated, EEA customers must ensure their UBOs and directors are up to date, and update them if necessary to access the feature.
UK Customers
KYC Process: UK customers need to undergo a KYC process before Wise enables the feature.
Wise's Terms and Conditions: UK customers must sign Wise's Terms and Conditions to activate the service.
When is the "Pay from Spendesk" option available for international invoices?
To pay your international invoice from Spendesk, there are a few pre-requisites:
For EEA:
UBOs and directors information need to be updated via Dotfile platform.
If the list of UBOs and Directors is up to date, you will only be requested to provide the country of residence of each registered UBO and director.
If the UBOs and Directors list is not up to date, you will be asked to provide the updated list and related information.
For UK:
the Wise KYC need to be completed and T&Cs agreed on.
For both EEA and UK customers:
You need to have the wiretransfers option enabled.
The target currency and country need to be supported. Check the list of supported countries and currencies.
The recipient and transfer details need to be provided.
In the schedule tab, eligible transfers will have the “Update” button to provide the required recipient and transfer information according to the target currency and country local requirements
Maximum amount of 100k€ per transfer.
Disclaimer: specific currencies have amount limits below this threshold (check the list of currencies and their limits). For instance:
EGP < 5,000,000 (equivalent of approx. 85,900€).
INR to UPI recipient < 200,000 (equivalent of approx. 2050€)
INR to IMPS recipient < 500,000 (equivalent of approx. 5140€)
KRW < 6,400,000 (equivalent of approx. 3,950€)
LKR < 980,000 (equivalent of approx. 2,880€)
Maximum cumulative amount of 500k€ per month.
Step-by-Step Setup and Usage Instructions
Setup
If wiretransfers are not already enabled, you need to go through these steps to activate the feature.
Log into your Spendesk account.
Navigate to Settings > Company rules > Payment methods
Activate Wiretransfers for invoices.
Activating wiretransfers will allow you to not only pay your domestic invoices but also your international ones within the platform.
Review an International Invoice
Navigate to Invoices > Review to review an international invoice.
Select an international invoice.
Select supplier bank country.
Create supplier (no need to fill in all supplier information if you pay from Spendesk, the recipient information will be required on a later stage).
Send to schedule.
Schedule an international invoice
Navigate to Invoices > Schedule.
Select an international invoice.
Update recipient and transfer information.
Disclaimers:
Recipient information is a pre-requisite to enable the “Pay from Spendesk” option. A dynamic form will display the required recipient and transfer information to provide according to each target currency and country local requirements.
Accurate beneficiary details are crucial for successful transfers.
Choose a recipient option (transfer type) according to the information available in the invoice or according to your supplier’s preference.
Confirm recipient and transfer information
Select the option Pay from Spendesk.
Send to confirm.
Confirm an International Wire Transfer
As an Account Owner, Navigate to Invoices > Confirm.
Select 1+ invoices with one or more international ones to confirm.
Review the transfer details: FX rate, Fees, converted amount, total outgoing amount and Delivery estimate.
Confirm transfer(s).
Strong Authentication.
Disclaimer: As the transfers are planned for a future date and the FX rate is updated each 30min, the final FX rate and thus outgoing amount might slightly vary.
Track your payment
Paid invoices move to the All expenses > All Payments tab.
To check the invoice payment details:
Navigate to Invoices > History tab
Select the international wiretransfer to review
Browse international wiretransfer details to track the payment information (payment status, FX rate and fees applied)
Generate a proof of transfer
Navigate to Invoices > History tab
Select the desired payment
Open and download “Proof of transfer”
Paying international invoices via Local schemes vs. SWIFT
Our partnership with Wise offers you the ability to pay your invoices via local banking schemes, in addition to the SWIFT scheme. Wise has built extensive partnerships with both local banking systems
Paying via local routes is a much faster and cheaper solution than paying via SWIFT. The main differences involve:
Local routes:
Use case: pay in the beneficiary’s country local currency
USD to the USA: select ACH or Wire
INR to India
AUD to Australia
DKK to Denmark
Lower fees: limited to no intervention of intermediary banks
Faster processing time: with 65% routes being instant and 95% within a day.
SWIFT
Use case: SWIFT option need to be selected if you need to pay for instance:
USD to India
GBP to France
EUR to Singapore
Higher fees: due to intermediary banks and exchange rate markups.
Potential for hidden fees: Fees can be unpredictable and vary based on the number of banks involved in the transaction.
Slower processing time: typically between 1 to 5 business days.
Supported countries and currencies
Spendesk supports up to 31 currencies and 71 countries
Country of destination | Local currency | SWIFT |
Aland Islands |
| USD |
Argentina | ARS | EUR |
Australia | AUD | EUR |
Austria |
| GBP |
Bahrain |
| EUR |
Belgium |
| GBP |
Bolivia |
| EUR |
Brazil | BRL (bientôt) |
|
Bulgaria | BGN | GBP |
Canada | CAD | USD |
Chile | CLP | EUR |
Colombia | COP (bientôt) |
|
Croatia |
| GBP |
Czech Republic | CZK (bientôt) |
|
Denmark | DKK | GBP |
Egypt | EGP | EUR |
Spain |
| GBP |
Estonia |
| GBP |
Finland |
| GBP |
France |
| GBP |
French Polynesia |
| EUR |
Georgia | GEL (bientôt) |
|
Germany |
| GBP |
Ghana |
| EUR |
Greece |
| GBP |
Hong Kong | HKD | EUR USD |
Hungary | HUF | GBP |
Iceland |
| GBP |
India | INR | EUR |
Indonesia | IDR | EUR |
Ireland |
| GBP |
Italy |
| GBP |
Japan | JPY | EUR |
Kazakhstan |
| EUR |
Kuwait |
| EUR |
Kyrgyzstan |
| USD |
Latvia |
| GBP |
Liechtenstein |
| GBP |
Lithuania |
| GBP |
Luxembourg |
| GBP |
Malta |
| GBP |
Mexico | MXN |
|
Mongolia |
| EUR |
Netherlands |
| GBP |
New Caledonia |
| EUR |
New Zealand | NZD | EUR |
Norway | NOK | GBP |
Oman |
| EUR |
Paraguay |
| EUR |
Peru |
| EUR |
Poland | PLN | GBP |
Portugal |
| GBP |
Romania | RON | GBP |
Saudi Arabia |
| EUR |
Singapore | SGD | EUR |
Slovakia |
| GBP |
Slovenia |
| GBP |
South Korea | KRW | EUR |
Sri Lanka | LKR |
|
Sweden | SEK | GBP |
Switzerland | CHF | GBP |
Taïwan |
| EUR |
United Arab Emirates | AED | EUR |
United-Kingdom | GBP | EUR |
United-States | USD | EUR |
Uruguay | UYU (bientôt) | EUR |
Uzbekistan |
| EUR |
Zambia |
| EUR |
Fees
The fees that will be applied for each transfer are described in the tables below. We distinguish between:
Major currencies: €, £, $, CHF, CAD, AUD, DKK, NOK, SEK
Other currencies: All other supported currencies not listed above fall under “Other Currencies”.
SWIFT SHA (meaning the fees are shared between the originator and the recipient)
SWIFT OUR (meaning only the originator supports the fees)
| Major Currencies (£/$/€ + CHF, CAD, AUD, DKK, NOK, SEK) | Other Currencies*** | SWIFT Payments SHA (Outside Home Region) | SWIFT Payments OUR (Outside Home Region) |
FX Fee | 1.2% | 1.8% | 1.8% | 1.8% |
Fixed fee | €2.50 | €5 | €7 | €20 |
Troubleshooting Common Issues
Transfer Delays: Payments that reach their due date will be in progress and executed upon reach and approval by the beneficiary’s bank, which depends on their cut-off time.
Rejection cases:
If the payment has been rejected before your account balance has been debited, the transfer will be rejected without any impact on your account balance.
Important note: given the FX rate variation:
If the total outgoing amount reaches the amount limit due to the FX variation, the payment will be rejected.
If the FX variation causes the account balance to not have sufficient funds to support the increased payment amount, the payment will also be rejected.
If your account balance has been debited and the payment got rejected:
the payment will bounce-back and you’ll be able to see in the history tab that the transfer is “rejected” with a reason code (beneficiary’s account closed, beneficiary details incorrect, etc).
Your balance will be credited back:
If you have selected a local transfer type (eg. for a transfer to USD, transfer type = ACH or wire), you will be reimbursed with the total amount
If you have selected SWIFT as a transfer type, you will be reimbursed with the total amount - SWIFT fees.
For returned transactions, please note that the transfer status could have initially been “executed”, which means it has reached the beneficiary’s bank, but once they receive the transfer, they can still reject it, turning the status into “bounce back”.
Contact Support: For unresolved issues, contact Spendesk support for assistance.
FAQ Section
Q: How secure are international wire transfers with Spendesk? A: Spendesk uses advanced encryption and is compliant with domestic and international financial regulations to ensure the security of your transactions through our regulated and worldwide partner Wise.
Q: What if I enter the wrong beneficiary details? A: Incorrect details can lead to failed transfers. Always double-check information. Contact support immediately if an error is noticed post-confirmation.
Q: Are there any hidden fees? A: No hidden fees except for SWIFT transfer type, even through not systematic as it depends on the number of intermediary banks involved.
Q: How can I track my transfer? A: You can track the status of your transfer in the Invoices > History or in All expenses section of your Spendesk dashboard.
By following these steps and guidelines, you can efficiently manage international wire transfers within Spendesk, ensuring your global financial operations are both secure and smooth.