$€£¥
FX Cost Analysis: Monex vs. Traditional Banking
How a chemical company discovered nearly $1.7M in hidden FX charges over 3 months
Industry:Chemicals
Client:Large East Coast chemical company
Region:United States
$48.7M
Volume Analyzed
~$1.7M
Hidden FX Charges
315
Transactions
96.8%
Nuisance Payments
Background
A large East Coast chemical company partnered with Monex to evaluate their cross-border payment processing through a major bank. The company had limited visibility into the true cost of their FX transactions.
Challenge
- Limited to zero visibility into cross-border FX payment fees
- Could not determine if premium rates were being charged on currency conversions
- Most transactions below $1M USD classified as "nuisance payments"
- Concerns about pricing on smaller, routine transactions
Strategy
- Analyzed three months of transaction history totaling $48.7M USD
- Reviewed 315 transactions across multiple currency pairs
- Identified 305 "nuisance payments" averaging $32K each
- Benchmarked bank pricing against competitive market rates
Outcomes
- Uncovered nearly $1.7M in FX charges over a 3-month period
- 96.8% of transactions were "nuisance payments" receiving unfavorable pricing
- Identified significant cost and timing optimization opportunities
- Delivered substantial savings on future cross-border transaction processing
Ready to Write Your Success Story?
Talk to our team about how Monex can help your business save on FX, reduce risk, and simplify payments.
Get a Free Consultation