5 Reasons to Make International Business Payments via Business Account - DNBC Financial Group
To make a big achievement in today's global economy and win sales against overseas competition, businesses must provide their clients with appealing sales conditions accompanied by proper international business payments mechanisms. The most common way to pay international business invoices is via bank wire transfer or credit unions, yet the currency exchange rate is high.
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Manage your payment cards in just a few taps (Photo: Business Wire)
Another option is believed to be one of the best international payment solutions for business is via online payment providers. DNBC now will show you 5 reasons to make international business payments via business account to avoid losing potential customers to competition by failing to consider other payment choices.
1. Being Transparent
Businessmen are concerned they would be charged high fees if they want to make international business payments. Making cross-border payments may be complicated and costly due to hidden fees and confusing exchange rate calculations. Make sure you always know the exchange rates and costs associated with money transfer services prior to making a transaction.
2. Transferring around the world in multiple currencies
Cash is still preferred when making purchases, but not everyone is willing to accept it, especially when making international business payments. Paying mortgages and other invoices in a foreign nation is a tremendous demand for any businessman.
At DNBC Financial Group, we enable SWIFT and SEPA transfers to 170 countries and territories worldwide, providing our clients 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 businessmen to manage their firm. The account may store both receipts and expenditure checks, which helps you keep track of costs, check up on spending, avoid overspending and calculate profit margin in an easy way.
With DNBCnet Mobile App, you may check the balance on your payment card at any time and from any location through DNBCnet, SMS Banking, or any ATM. Moreover, we also support exporting e-statements of your transactions over the course of a month or many months.
4. Transferring Limits
The maximum amount per transaction is one of the top requirements for creating a business checking account. Some suppliers need a minimum payment, while others have no restrictions at all. Finding a source or provider that can consistently meet your company's demands is critical.
Here at DNBC, the transaction limit can come up to 500 000 EUR/ day for business accounts.
5. Transferring Speed
Since making international business payments via bank transfer requires the person to visit the physical bank and fill out paperwork, it is considered to be extremely time-consuming. Or, when you need an instant transfer, credit unions can be the best bet. However, fees for these services are charged higher than other methods!
Online payment providers like DNBC provide lower transaction costs and the same advantages. It takes one to three business days to process most currencies, but some currencies may take longer. Here is DNBC Financial Group's average transaction speed:
- SWIFT services for international transfer: 02-05 business days
- SEPA for Eurozone transfer: 01-02 business days
Make International Payments Via Business Accounts With DNBC
DNBC Financial Group strives to become the best business account for international payments. We offer full online banking experience, money transactions in over 170 countries with multiple currencies, and are always ready to support you 24/7. Find out how DNBC can help you make international payments better.
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Name: Oliver Nguyen
Title: Vice Director
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