Businesses that move money across borders
Many of our customers are Australian businesses paying suppliers, agents and partners in Asia. The amounts, the deadlines and the record keeping differ by industry. What stays the same is that the payment sits on the critical path of something else: an order, a shipment, an enrolment, a lodgement.
You see the rate and all fees before you confirm. Your rate is set when we receive your funds, unless we have agreed a rate with you in writing.
Funds are usually available to your recipient within two business days of your instruction.
01 Import and distribution
Australian businesses buying goods from suppliers in China and across Asia for resale here.
Payment is usually required before goods are released for shipping, so the transfer sits directly on the critical path of the order. The amount owed is set in the supplier's currency while the selling price is set in Australian dollars, so the landed cost of the order is not settled until the conversion is done.
Before you confirm a transfer you see the rate and the fees that apply to it.
You see the rate and all fees before you confirm. Your rate is set when we receive your funds, unless we have agreed a rate with you in writing.
02 Freight forwarding and customs brokerage
Forwarders and customs brokers settling with overseas agents, carriers and warehouses.
Payments are frequent, individually small, and each one belongs to a shipment reference. The record of the payment matters as much as the payment, because it has to be matched back to a job and to an invoice.
Every completed transfer carries a confirmation and a transaction record that can be matched to a shipment or an invoice.
LexPro does not take deposits. Money you send is held only for as long as it takes to complete your transfer.
03 Education agencies
Agencies handling tuition and living expense payments for students coming to Australia.
Institutions set the deadline and an enrolment can be at risk if the payment is late. Payments arrive from families overseas and go out to an institution here, often in the opposite direction to the main business.
Rates and fees are shown before you confirm, and support is available in English and Chinese by phone and email.
04 Migration agencies
Agencies moving application fees and settlement funds for clients.
Lodgement deadlines are fixed and a missed payment can cost an application rather than just delay it. Funds frequently come from more than one source and have to be accounted for separately.
Each transfer produces its own record.