We'll select a payment method for goods or services abroad
Direct transfer, letter of credit, agent. Each method has its own cost, timing and weak points. We'll review your deal and select an agent from our pool for the beneficiary's country and bank. The terms are written down before debiting, and we add escrow on request.
- 3 business days
- execution period under the agency agreement
Estimate the minimum fee
The final fee and rate are fixed in the payment order
Minimum amount: 10,000 USD or equivalent
- Fee rate
- from 0.9%
- Fee
- from 225 USD
- Amount incl. fee
- from 25,225 USD
This is a minimum, not an offer or a rate lock. The final figure depends on the country, amount and the banks involved and is fixed in the payment order.
Request a quoteFour ways to pay a foreign company
The difference is where the money sits before delivery and what to do if a channel stops working.
Direct transfer from your bank
The shortest path and simple accounting. It works if your bank sends the required currency to that country and the beneficiary's bank accepts money from Russia. If one link refuses, the payment stops.
Letter of credit
The bank pays the supplier once the supplier presents shipping documents. It protects both sides, but you need a bank on the other side willing to work with such a letter of credit. It takes longer to arrange, and each bank has its own charges.
A single payment agent
You pay the agent in roubles, and the agent sends currency to the beneficiary under an agency agreement. Everything rests on that agent's channel. If the agent's bank stops accepting the currency you need, there may be no other way, and nothing to compare the price with.
A broker with its own network: escrow on request
We choose the agent for the specific payment: the one whose route to the beneficiary's country works on the payment date, and we compare the terms. If one agent's route closes, we look for another agent in the pool. With escrow, the roubles wait for execution in a special account at a Russian bank, for an additional fee.
Methods can be combined: a large advance to a new supplier by letter of credit, regular deliveries through an agent. The choice depends on the amount, the country and how much you trust the supplier.
How to choose a method for your deal
Six questions worth answering before the first payment.
When you pay
An advance before shipment carries more risk than payment after delivery. For a large advance to a new supplier, a letter of credit is worth considering.
Where the money goes
The beneficiary's country and bank matter more than the currency. A bank that accepted payments from Russia yesterday may stop today. That is why we check the route as of the payment date.
How much and how often
For a one-off purchase, paying against an invoice is enough. For a series of deliveries, one agency agreement with a payment order for each payment is more convenient.
The full price
Compare the total, not the fee percentage: the fee, the FX markup and bank charges. That is why we fix the rate and fee in the payment order and do not quote a single rate on the website.
Documents
A contract or invoice, shipping documents or a completion certificate. Without them, the payment will not go through, whether by direct transfer or through an agent.
If the route closes
A single agent may have no answer. A broker with a pool has other agents.
Services from abroad: software, licenses, maintenance
A service has no customs declaration. Its delivery is confirmed by other documents, and it is worth agreeing on them with the contractor before payment.
Software and subscriptions
An invoice or a public offer agreement describing the product, term and number of licenses. For currency control you need a document confirming the service: a completion certificate, a report or an activation confirmation.
Licenses and rights
A license agreement stating the subject, term and payment procedure. Royalties based on the licensor's reports are paid under separate payment orders.
Equipment service and maintenance
An agreement listing the work and an invoice for a site visit, repairs or parts. For the bank, parts on such an invoice are goods, so list them on a separate line.
Consulting, development, marketing
An agreement, an invoice and a completion certificate for each stage. We word the purpose of payment according to the agreement, without vague terms like “services”.
Taxes on services
For some services bought from foreign companies, the Russian buyer pays VAT as a tax agent. That is a question for your accountant, but check the amount payable to the contractor before the payment order.
What it costs
from 0.9%
minimum fee for paying for goods or services
The final fee depends on the beneficiary's country and bank, the amount, the subject of the payment and the route. We put it and the rate into the payment order before your roubles are debited. You don't pay us separately: the broker's fee is paid by the executing agent.
- from 10,000 USD
- minimum payment amount, or the equivalent in another currency
- Rate
- fixed in the payment order before debiting
- 3 business days
- execution period under the agency agreement
Compare with how you pay today
Send us the documents for a past payment made through a bank or an agent. We'll calculate the full cost with the FX markup and fixed charges and look for a lower rate in our pool. If we can't find one, we'll say so.
Paying abroad: how each method works
A Russian company can pay a foreign partner in several ways. All of them are lawful if there is a foreign trade basis and supporting documents. The difference is who sends the currency, where the money sits before delivery, and what to do if the route stops working.
Direct transfer
You send currency from your account to the beneficiary's bank. The documents are simple, and there are no intermediaries. The weak point is the chain of banks: your bank may not send the required currency to that country, a correspondent bank may hold the payment for review, and the beneficiary's bank may not accept money from Russia. The decision is not yours: it is made by each bank along the way.
Letter of credit and escrow
A letter of credit suits large deals and new suppliers: the bank pays the seller once the shipping documents are presented. But you need a bank on the other side willing to work with a Russian company, and it takes longer to arrange. Escrow solves the same problem more simply: the money waits until the conditions are met. We offer it on request, for an additional fee: the roubles wait in a special account at a Russian bank and do not pass to the agent until the currency has gone to the supplier.
Payment agent
You pay in roubles from your account at a Russian bank under an agency agreement, and the agent sends currency to the beneficiary. One bank's refusal does not stop the deal if the agent has another channel. But a single agent has few channels, and there is nothing to compare its price with.
A broker with its own network
Payments are executed by companies of our own network, not agents from the open market. For each payment we choose the one whose route to the beneficiary's country works on the payment date, and compare the terms. The agent, rate and fee are known before your roubles are debited. The client does not pay VEDmost separately: the broker's fee is paid by the agent.
Goods or services
For goods, the key document after payment is the customs declaration: it shows the bank what was imported. For services there is no declaration: a completion certificate, the contractor's report or another document confirming the service takes its place. Agree on it with the contractor before payment. The documents we prepare for a deal are listed on the deal documents page, and payments under an import contract are covered on the import payments page.
Documents for paying for goods and services
What we need from you
- A contract, public offer agreement or invoice stating the subject, amount and payment terms.
- The invoice for the current payment.
- For services: what will be delivered and when.
- The beneficiary's bank details and your company details.
What you keep
- The agency agreement and the payment order.
- Payment confirmation, with a SWIFT confirmation on request.
- The agent's report and completion certificate.
- A package for currency control and your accountants.
Questions about paying for goods and services
How do I know which method suits my deal?
Tell us the beneficiary's country and bank, the amount, the subject and when you need to pay. We'll review the options and tell you whether an agent structure makes sense. If it does, we'll select an agent from our pool for this payment.
Can I pay for a software subscription or a license?
Yes, if the payer is a company or sole proprietor and there is an agreement or invoice describing the product. After payment, currency control will need a document confirming the service.
Our bank refused the payment. What should we do?
Send us the deal documents and the text of the refusal. We'll check whether the payment can go through an agent from our pool and on what terms. You will see the agent and the terms before your roubles are debited.
Can we pay by letter of credit through you?
A letter of credit is opened at a bank. We work through agents from our pool: if a letter of credit is unavailable for your deal or takes too long to arrange, we'll quote a payment through an agent.
How much does it cost?
From 0.9%: that is the minimum fee. The final fee and the rate are written into the payment order before your roubles are debited. The minimum payment is 10,000 USD or the equivalent.
Do you take on payments for individuals or personal purchases?
No. We work with companies and sole proprietors, and only on foreign trade deals.
Request a quote
Describe the payment. We'll reply with a proposed route and terms. We name the agent in advance, and the rate and fee go into the payment order before your roubles are debited.