Global payouts are payments that you make to counterparties in other countries. You may want to pay your counterparty via a wire transfer or their local payment rail. Modern Treasury supports sending global payouts through both bank and non-bank providers.
Global payouts can take longer to settle than domestic payments. There are a variety of factors that can impact settlement timing, such as the number of intermediaries involved, banking hours and holidays, errors in bank details, or compliance reviews. There may be a mismatch between when the funds are debited from your account and when your counterparty receives them.
Most of our bank partners enable you to send dollar-denominated wires to counterparties overseas. Additionally, many support sending wires in another currency. The timelines at each bank may vary.
In addition to banks, we currently support Currencycloud as a non-bank provider for global payouts. We can help you onboard to Currencycloud or, if you have a preexisting relationship, connect to your existing account. If you are using our Currencycloud integration, you can see the timelines that they advertise for both SWIFT wires and local payment rails here.
Updated almost 2 years ago