5 Factors to Consider About International Business Money Transfers
1. Exchange rates
Thousands of foreign exchange providers and banks are offering their services. Yet, not all of them offer acceptable exchange rates. Make sure to check on the rates, fees, and hidden costs beforehand sending the money with a specific provider.
2. The speed of processing payments
You already know time is money in the business world. Processing overseas payments depend on the provider you are using as well as the country you are transferring the money to. At best, 2 working days would be enough to process the money.
However, if you need a large amount of money transferred - £1 million or more, it will take more time to process the payment. We would advise you to transfer a couple of smaller amounts instead of sending it all at once.
3. Choose your provider wisely
When knowing the process of business money transfers includes many details, you want to go for a provider who can process your money efficiently.
Ace-FX is a provider offering tailored services to companies sending international payments. With no foreign exchange risk, you will get your money delivered to where it should be.
4. Online banking platforms
Transferring a large amount of money overseas is complex. It is always a good idea to have a provider that offers an easy-to-use online banking platform where you can get all the details about the transfer.
5. Make sure your money is safe
How can you know with certainty your transfer would reach the other end? It’s easy. Again, when working with a reliable exchange provider, you can rest assured your money is safe.
Summary
Once upon a time, people believed banks offered the best and the safest methods for transferring money overseas. Online business money transfer services available now ensure people are getting the best deal by taking advantage of the lower fees. That’s exactly what working with ACE-FX looks like.
