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Frequently asked Questions

Enrolment


Transactions & Customer Service


Internet Transactions


Enrolment

How do I sign up to use International Payments from American Express?
To apply, click here to download an application form. Alternatively, you can email fes.ip.singapore@aexp.com or phone 6880 1255 with application related questions.

Do I need an American Express Card to sign up for the International Payments service?
No, the American Express Card is not needed to open an International Payments account, nor is it required for making a transaction.

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Products & Services

What foreign exchange products do you offer?
Currently, we offer Telegraphic Transfers, Bank Drafts and Forward Exchange Contracts in various international currencies.

What type of rate information can you give me so I know when it might be a good time to buy?
With our Rate Alert functionality, you can choose to receive notification by SMS, email or to your Inbox (set up within the FX International Payments website) on specified currency fluctuations over a period of time.

What type of historical data can I have on my payments?
Our Payment History and Reporting tool, allows you the ability to view payments input by Payment Reference, Date Range, Payee, Status, User ID, Product Type, Currency, Amount and Local Currency Equivalent. These details can be printed or saved to an Excel format.

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Transactions & Customer Service

What are the hours of operation?
We are available at 6880 1221/6880 1333 from 9am to 5pm Singapore time, Monday to Friday. Transactions may be initiated online 24 hours a day, 7 days a week.

What type of support do I get?
Your account is overseen by a team of dedicated dealers, specialised in overseas payments, who is on hand to discuss your individual foreign exchange requirements as well as keeping you informed of service enhancements.

How do I pay American Express for the International Payments I request?
During account set-up, you are given the option to go on a direct debit set up where American Express will debit your nominated SGD Bank account. There is also a direct credit option, where you can pay SGD clear funds into an American Express nominated bank account.

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Do I need to set up a separate bank account just to be used for International Payments services?
No, there is no need to set up a separate bank account.

Is there a minimum/maximum limit per transaction?
No, American Express does not impose any minimum or maximum restrictions on transactions. You are however able to set up a maximum transaction size limit for your company based on user privileges.

What if I submit a transaction request and then want to cancel it?
If we have not already completed your transaction, we will make every effort to accommodate your cancellation request. Should the transaction have been executed, American Express will make every effort to work with the International Bank to gain the best possible customer outcome. Exchange differences and bank charges may apply.

How can I validate beneficiary details online?
You are able to validate your beneficiary bank details via our online payment Bank Identifier Code (BIC) Tool. In addition, our operations team verify and complete all beneficiary bank details.

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Internet Transactions

I have submitted a transaction via the Internet. How do I know you have received it?
You are able to check the status of any transaction via the online functionality.

Will I be able to see my transactions made by phone and fax on the Internet?
If you have requested access to our online service you are able to view all the transactions that you have initiated.

I have lost my password. What do I do?
Provided you have answered your security questions correctly, a new password will be issued immediately by our system.

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