Global payouts are payments that you make to counterparties in other countries. You may want to pay your counterparty via a wire transfer, a Global ACH payment, 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](🔗).