5 Reasons to Make International Business Payments Through a Business Account – DNBC Financial Group
LONDON–(BUSINESS WIRE)–To succeed in today’s global economy and win sales in the face of foreign competition, companies must offer their customers attractive terms of sale accompanied by appropriate international trade payment mechanisms. The most common way to pay bills for international companies is by bank transfer or credit unions, but the exchange rate is high.
Another option is considered one of the best international payment solutions for businesses via online payment providers. DNBC will now show you 5 reasons to make international business payments through a business account to avoid losing potential customers to the competition by failing to consider other payment options.
1. Be transparent
Businessmen are worried about having to pay high fees if they want to make international business payments. Making cross-border payments can be complicated and expensive due to hidden fees and confusing exchange rate calculations. Make sure you always know the exchange rates and the costs associated with money transfer services before making a transaction.
2. Worldwide transfer in multiple currencies
Cash is always preferred when shopping, but not everyone is ready to accept it, especially when making international business payments. Paying mortgages and other bills in a foreign country is a huge demand for any businessman.
At DNBC Financial Group, we enable SWIFT and SEPA transfers to 170 countries and territories worldwide, providing our customers with a range of transfer alternatives at the lowest possible rate and with the least amount of wait time.
3. Organizing your business records
Having a business checking account to make international business payments is a great idea for business people to run their business. The account can store both receipts and expense checks, helping you track costs, verify expenses, avoid overspending, and easily calculate profit margin.
With the DNBCnet mobile app, you can check your payment card balance anytime and from anywhere via DNBCnet, SMS Banking or any ATM. In addition, we also support the export of electronic statements of your transactions within a month or several months.
4. Transfer of Limits
The maximum amount per transaction is one of the main requirements for setting up a business checking account. Some providers require a minimum payment, while others have no restrictions. It is essential to find a source or supplier who can consistently meet the demands of your business.
At DNBC, the transaction limit can reach €500,000/day for business accounts.
5. Transfer Speed
Since international business payments by wire transfer require the person to go to the physical bank and fill out paperwork, it is considered extremely time-consuming. Or, when you need an instant transfer, credit unions may be the best bet. However, the fees for these services are higher than the other methods!
Online payment providers like DNBC offer lower transaction costs and the same benefits. Most currencies take 1-3 business days to process, but some currencies may take longer. Here is the average transaction speed of DNBC Financial Group:
– SWIFT services for international transfer: 02-05 working days
– SEPA for euro zone transfer: 01-02 working days
Make international payments through business accounts with DNBC
DNBC Financial Group strives to be the best business account for international payments. We offer a complete online banking experience, money transactions in over 170 countries with multiple currencies and are always ready to help you 24/7. Find out how DNBC can help you improve your international payments.