The Best Way to Pay Overseas Suppliers — Glenn Fryers from Tasman FX
Glenn Fryers from Tasman FX shares fifteen years of cross‑border payments expertise, helping Australian businesses find the best way to pay overseas suppliers with better FX rates and proactive service.
Fireside is excited to welcome Glenn Fryers to the community.
Glenn is a Brisbane‑based foreign exchange (FX) account manager for Tasman FX, and he brings more than fifteen years of cross‑border payments experience. Born in Northern Ireland, Glenn moved to Australia and has dedicated his career to helping small and mid‑sized businesses find the best way to pay overseas suppliers.
From the UK to Australia — Here's Glenn's Journey
Glenn began his FX career in London, working for Travelex where he helped families buy property and transfer pensions abroad. After moving to Australia he joined American Express's corporate FX desk and later moved into the SME space with Tasman FX. Tasman FX specialises in secure global payments across 150 currencies with competitive rates and no hidden fees. Glenn draws on this experience to guide importers, exporters and e‑commerce businesses through the complexities of international payments.
Why Cross‑Border Payment Expertise Matters
Businesses that pay suppliers overseas often use their bank by default. Glenn points out that banks charge wide FX margins and offer little proactive service. Specialist FX providers like Tasman FX can customise a solution and monitor the market for you. Glenn and his team look at upcoming invoices, deadlines and budgeted exchange rates; then they help you decide when to lock in a rate or place a limit order so that payments are executed automatically if a target rate is reached. This proactive approach helps importers avoid "bill shock" when a large payment is due and exchange rates have moved unexpectedly.
Methods for Paying Overseas Suppliers
The U.S. Export‑Import Bank's guide to export payments lists five common methods of payment for international transactions:
- Consignment – goods are shipped on trust and paid for only when sold.
- Open account – buyers receive goods and pay later; this is competitive but adds credit risk.
- Documentary collections – the seller's and buyer's banks handle documents; cheaper than letters of credit but with limited recourse.
- Letters of credit – the buyer's bank guarantees payment when conditions are met.
- Cash in advance – the buyer pays upfront; secure for the seller but risky for the buyer.
Glenn helps clients choose the best method for their situation and negotiates better FX rates than banks. For example, a freight forwarder referred a client who was paying Chinese suppliers. Glenn reviewed the invoice, ensured the beneficiary details were correct (important because a single incorrect character can cause a Chinese bank to reject a payment), locked in a favourable rate and saved the client enough to offset part of their shipping cost.
Success Stories and Who Glenn Helps
Glenn's clients range from e‑commerce startups making a handful of payments a year to ASX‑listed companies making multiple transfers per day. He recently helped a friend who was convinced his bank offered the best deal; Glenn arranged the same transfer through Tasman FX and saved him about AU$1,200 on a AU$100,000 payment. He also assisted a Brisbane freight forwarder by saving their customer money on FX while strengthening the forwarder's relationship with their client. Glenn emphasises that even if you're happy with your current provider, it's worth reviewing FX costs periodically.
Tasman FX handles deliverable foreign exchange — payments go directly to an overseas bank account. They don't deal in cash or crypto and require invoices to substantiate B2B payments. Glenn is happy to work with businesses of any size as well as individuals receiving inheritances or buying property abroad.
Watch the Conversation
For more insight into Glenn's approach to cross‑border payments, watch the full Fireside conversation above. In the video he discusses how geopolitical events, market volatility and forward contracts influence FX rates and how businesses can protect margins.
Learn More
For a deeper dive into export payment methods, the U.S. Export‑Import Bank's free guide explains the pros and cons of consignment, open accounts, documentary collections, letters of credit and cash in advance. Understanding these options will help your business choose the best way to pay overseas suppliers and manage risk.
Glenn can be contacted right here on his Fireside profile via LinkedIn or through Tasman FX's website. Fireside members can always reach out to discuss their cross‑border payment needs!
About the Author
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