Case Study: a large East Coast chemical company uncovers nearly $1.7M in hidden FX charges with Monex Global

a large East Coast chemical company uncovers nearly $1.7M in FX charges with Monex Global

A large East Coast chemical company turned to Monex Global to analyze its foreign exchange costs due to a lack of visibility into the true fees it was paying through its traditional bank. The customer had concerns about being charged premium rates, particularly on its high volume of smaller, routine cross-border transactions, which it classified as nuisance payments.

Monex Global implemented a cost analysis solution, reviewing three months of transaction history totaling $48.7 million across 315 transactions. By benchmarking the bank's pricing against competitive market rates, Monex Global uncovered that the chemical company was paying nearly $1.7 million in hidden FX charges over that period, with 96.8% of its transactions receiving unfavorable nuisance payment pricing. This analysis identified major opportunities for optimization and delivered substantial savings potential on the company's future international payment processing through Monex.