$€£¥

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.

FX Cost Analysis: Monex vs. Traditional Banking

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

Receiving Foreign FundsPrevious All Case Studies Optimistic OutlookNext

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