Amex debuts FX service

Credit card company American Express is launching its American Express FX International Payments service in New Zealand.

"There's no doubt that the banks dominate the FXIP market, but we feel there is room for a provider that can offer a personalised, round-the-clock and very competitive service to small and medium sized enterprises," said Barry Fletcher, American Express head of sales international payments, Australia and New Zealand.

Businesses can use the service for telegraphic transfers, drafts or cross currency payments.