LONDON--(BUSINESS WIRE)--Each year, hundreds of companies consider international expansion. As part of this process international payments become inevitable. While globalization offers huge potential for growth, looking for a provider to make fast and saving money transfers greatly affects your business.
To help you make a wise decision, DNBC Financial Group experts have created the top 5 tips to get the best business account for international payments.
Carefully compare among transfer service providers.
The common thought is that your current bank is the safest and the best to transfer your money overseas. The reality is that it is not always the case. To make sure you get the best deal when sending money abroad, you need to compare providers.
Investing a little more time to choose the most suitable provider will be quickly repaid in monetary savings and improvements in your business.
Make use of additional business account features
A lot of account holders don't fully take advantage of a digital banking app. This could be a waste. Besides the main function of transferring and receiving money, depending on each provider, there will be additional tools attached to support its users for the better.
The amount of money you are transferring
You should consider how much money you are transferring. If you are looking to transfer large sums of money, you should choose a provider that specializes in large transactions. For large volumes, you won’t want to use banks if possible, as they often implement heavy fees for transferring money around the world.
Financial institutions like DNBC would be an ideal option if you need to transfer large amounts as it offers a bigger quota than other providers in the space.
Select a provider that makes your life easier
Once you’ve made the decision to use a payment provider, make sure that it offers you the best tools which can relieve your daily stress and therefore enhance your life.
People usually only care about fees; but they often overlook supporting features as well as user experience. But if you have to use digital banking on a daily basis, the good platform will bring you comfort, otherwise it will become an annoyance.
Use your business account for all transactions
If you are a person who regularly transfers and receives money internationally. Using your account for all these transactions will make your financial management easy to track and convenient.
Have your invoices paid into this account, send and receive all business payments from this account, pay your employees, to make accounting easy. If any of these transactions are international, a DNBC business account can save on currency conversion fees.
Open multi-currency accounts
If you operate internationally, and frequently receive, or make payments in foreign currencies, it’s worth setting up multi-currency accounts with your provider.
Convenience is the most significant benefit to a global currency account. If you’re running a company, you’ll save time and avoid confusion with a single account for all of your clients.
Level up your international payments with DNBC
A good business account provider will make your professional life a breeze. Any business operating internationally should explore the benefits that a provider can bring, in both saving money and improving internal efficiencies.
DNBC is a financial institution that offers free account opening and fantastic customer service. It offers unparalleled convenience and transparency to its users: via their smartphones, customers can open an account whenever and wherever they want.