Stay Connected

Our News Centre and Blog is your link to a dynamic network of information, people, and ideas curated by our FX and payments experts.

Top 3 challenges NGOs and charities face with international payments

Cambridge Global Payments October 18, 2018

How NGOs and legally registered charities can minimise three common international payment challenges…

Non-governmental organisations (NGOs) and charities may have a tougher task making international payments than many other companies. The nature of these payments, the currencies used and the destination countries can raise compliance red flags, such as anti-money laundering and financial crimes. If your charity or NGO is finding it a struggle to send international payments speedily and successfully, here are some suggestions for overcoming common stumbling blocks.

Challenge 1: Payments held or delayed due to compliance checks

Like all organisations, legally registered charities and NGOs can be subject to stringent compliance review, which  can lead to payments being held or delayed, impacting on service levels.

What can you do?

Challenge 2: Some currencies are volatile or not widely available

Due to the nature of their work, some NGOs and charities require currencies that are not widely available or are more volatile. Due to the lack of liquidity these currencies can also be very volatile when it comes to foreign exchange (FX) and this can negatively impact the project budget.

Some international payment providers may be stronger in specific countries and regions based on their banking and financial relationships. If your provider has relationships with in-country banks and other partners, they are more likely to be able to provide competitive pricing and timely delivery of the funds to the beneficiary account(s).

What can you do?

Challenge 3: Time-consuming processes with high risk of payment errors

Depending on the frequency of payments, ascertain if your provider processes frequent payments manually or is automated. With out-dated and non-automated processes there may be a higher risk of human error.

What can you do?

If you’d like to talk more about overcoming the challenges for NGOs and charities, speak with one of our international payments specialists today

For further information on managing international payments, check out our free guide, The Complete Guide to International Payments

Popular Tags

cambridge Market Wire