- What does TuringDock Payments actually do?
- Pays your international suppliers at interbank FX rates from inside the purchase order. The FX rate locks at PO issuance (not at payment time), so the margin you quoted on survives the 30 to 60 day gap between quote and payment. Same-day settlement for major corridors (USD, EUR, GBP, JPY). No $30 wire fees. The PO record updates automatically when the payment completes.
- How much do typical Canadian manufacturers save?
- Big Five Canadian banks mark up FX 2.5 to 3% on small-business outbound wires and charge $30 to $50 per wire on top. On a $50,000 USD supplier payment, that's $1,250 to $1,500 of margin returned. A shop placing 30 international POs a year at $25,000 average ticket size saves roughly $18,000 in FX markup alone, plus $900 to $1,500 in wire fees. The standalone calculator at /payments-savings gives you a per-supplier estimate with your own spend numbers.
- Is TuringDock Payments live?
- Public beta. The rail is functional with the first cohort of customers; pricing for the platform fee component is being co-developed with them. Enroll via the Enroll-in-beta button on any supplier modal inside the TuringDock app and the founder will reach out within 24 hours.
- What currencies are supported?
- USD, EUR, GBP, JPY, AUD, MXN, CHF, HKD, SGD, with CAD as the base. If your supplier is paid in a currency outside that list, talk to us — corridor additions typically take two weeks.
- Do I have to switch banks?
- No. TuringDock Payments doesn't replace your operating account; it sits alongside as the international-payments rail. Your CAD operating banking (payroll, GST/HST remittance, day-to-day) stays at RBC/TD/BMO/CIBC/Scotiabank/wherever. International supplier payments route through TuringDock at PO issuance.
- Is TuringDock a bank?
- No. The payment rail runs on a licensed fintech infrastructure partner with the necessary banking relationships and regulatory licenses in Canada, the US, and supplier-side jurisdictions. TuringDock owns the MRP layer + the rate-lock UX + the per-PO integration; the actual money movement is provided by partners. The same structural model as Wise, Stripe, etc.