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B2B Payments: How to Pay International Suppliers in USD, CNH, and EUR

Last update: August 27, 2025

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Paying international suppliers can be a balancing act between managing foreign exchange, minimising costs, and maintaining smooth business relationships. Whether you’re importing raw materials from China or sourcing products from Europe, having a solid system for making scheduled payments to suppliers is essential, especially if you’re involved with import trade services.

In this guide, we’ll explore popular B2B payment methods for suppliers dealing in USD, CNH (offshore Chinese Yuan), and EUR, and how you can use tools like multi-currency accounts and automated billing to simplify the process.

1. Telegraphic Transfers (TT)

A Telegraphic Transfer (TT), also known as a wire transfer, is a bank-to-bank electronic transfer of funds using the SWIFT network.

How it works:

Funds are transferred electronically from your business bank account to your supplier’s overseas bank account.
Transfers typically take 1–5 business days depending on intermediary banks, time zones, compliance checks, and currency conversion delays.

Best for:

One-off or high-value supplier payments in major currencies like USD, CNH, and EUR.
Suppliers who require upfront payment or deposits to their bank account

Costs to consider:

Transfer fee (RM20–RM100 or more per transaction)
Intermediary bank charges
Currency conversion fees and exchange rate markups

Benefits:

Secure, with SWIFT code confirmation
Widely accepted for global trade
Clear documentation of entire payment

Risks:

Errors in supplier details can cause delays or fund losses
Costly for frequent or smaller payments

2. Multi-currency business accounts

A multi-currency business account that lets you hold and pay in multiple currencies — such as USD, CNH, and EUR — from one account. This removes the hassle of frequent currency conversions and additional fees, making supplier payments faster and more efficient.

How it works:

Open a multi-currency account g. WorldFirst Account
Receive, hold, and pay in multiple currencies without conversion costs
Send payments directly to suppliers at lower cost
In some cases, transfers are done within local network rather than SWIFT network depending on the provider

Best for:

Regular international transactions
SMEs looking to minimise FX risk and fees
Batch payments

Costs to consider:

Annual maintenance fees
Minimum deposit or balance requirements Currency conversion charges if converting between currencies

Benefits:

Better control over exchange rate management
Streamlined Payment Processes
Better accuracy and speed of transfers
Manage payments, collections and FX in one platform

Risks:

Complex account requirements or documentation
Limited currency options

Open a WorldFirst Account to pay in USD, CNH, and EUR with no annual fees, no minimum balance, no hidden costs and highly competitive rates. Enjoy instant, free transfers to other WorldFirst users — saving you time and money with every payment.

Explore WorldFirst’s business payment solutions today.

3. Letters of Credit (LC)

A Letter of Credit is a financial guarantee provided by a bank on behalf of the buyer, ensuring that the seller receives payment once conditions are met.

How it works:

Apply for an LC from your bank
The LC outlines terms of delivery and payment
The bank releases payment to the supplier after documents are verified

Best for:

Large transactions (e.g. >USD50,000)
Working with new or unverified suppliers

Costs to consider:

Bank processing fees (can range from 0.75%–1.5% of invoice value)
Legal or document vetting fees

Benefits:

Reduces risk for both buyer and seller
Payment is only made when delivery terms are fulfilled

Risks:

Complex documentation
Expensive for smaller businesses

4. Escrow Services

Escrow holds the buyer’s payment until goods are delivered and confirmed, then releases the funds to the seller.

How it works:

You pay into a third-party escrow account
Funds are released to the supplier once goods are received or conditions are met

Best used for:

Buying from online platforms
First-time transactions with new suppliers

Costs to consider:

3%–5% transaction fee (often paid by supplier but passed on to buyer)

Benefits:

Adds a layer of security
Good for small transactions or trial orders

Risks:

Limited dispute resolution options
Not commonly used for high-volume trade

5. Automated debits and billing solutions

For regular purchases or retainer-style agreements, automated billing or debit authorisations can be arranged with select suppliers.

How it works:

Set up recurring payments through your payment provider
Automate invoice processing and reconciliation

Best used for:

Recurring monthly orders
Subscription-style business relationships

Costs to consider:

Varies depending on your bank or platform

Benefits:

Saves time on manual transfers
Reduces late payments

Risks:

Requires strong supplier trust
Less flexibility once scheduled

Tips and tools to manage supplier payments effectively

Efficient supplier payment management isn’t just about selecting the cheapest method — it also involves tools and strategies to streamline the process and reduce operational risk.

1. Use payment automation platforms

WorldFirst allows integration with Xero , Oracle Netsuite and other accounting software, allowing businesses to schedule payments, track invoices, and budget.

2. Monitor currency volatility

Use FX tools or rate alerts to take advantage when the exchange rate is in your favour.

3. Set clear payment terms

Establish payment schedules, penalties for late payments, and preferred methods upfront with each supplier. This avoids confusion and builds trust.

4. Segment suppliers by payment priority

Group suppliers based on urgency, payment frequency, and risk profile. Use faster or more secure methods (like TT or LC) for high-risk suppliers.

5. Track all payments in one dashboard

Centralise all cross-border payments using a platform that lets you visualise cash flow and reconcile with your books.

Choosing the right payment method

When evaluating how to pay international suppliers, consider:

Currency preferences
Trust level with the supplier
Payment frequency and invoice volume
Risk appetite and contract size
FX exposure and rate volatility

At WorldFirst, we make it simple to pay suppliers and receive business payments. Create a multi-currency business account to track shared expenses, automate payments, , and more. Access a comprehensive list of features and tools from our user-friendly dashboard.

Why consider WorldFirst?

Easy onboarding – 100% online account opening
Low cost – $0 set-up fees, $0 minimum account balance, $0 receiving fees, $0 annual fees
Fast payments – Same-day supplier payments to China, Hong Kong (USD, CNH, HKD), US (USD), Europe (GBP, EUR) through our local network
Seamless payments to 1688.com using World Pay (跨境宝）- Instant payment to Chinese suppliers on com, one of the largest B2B wholesale sourcing online platforms

Ready to take control of your international payments? Register for a WorldFirst Account today.

WorldFirst is a leading global financial platform that provides international payment solutions to help businesses overcome trade barriers and high fees. We support over 1.2 million

customers, enabling payments in 100+ currencies across more than 210 countries and region. We are licensed and regulated in Malaysia as a MSB Class A licensee, allowing us to provide more efficient and secure payment solutions for Malaysia businesses.

Open a World Account for free

Get local currency accounts, fast payments and competitive FX – all in one place.

The simpler way to pay and get paid

Save money, time, and have peace of mind when expanding your global business.

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Multi-currency accounts, competitive FX, and global transfers — Everything you need to pay and get paid internationally

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B2B Payments: How to Pay International Suppliers in USD, CNH, and EUR

1. Telegraphic Transfers (TT)

2. Multi-currency business accounts

3. Letters of Credit (LC)

4. Escrow Services

5. Automated debits and billing solutions

Tips and tools to manage supplier payments effectively

1. Use payment automation platforms

2. Monitor currency volatility

3. Set clear payment terms

4. Segment suppliers by payment priority

5. Track all payments in one dashboard

Choosing the right payment method

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