As an international business, managing overseas payments can be a time consuming and sometimes costly task. Enlisting a dedicated money transfer broker for business payments and transfers is a smart way to obtain the most value for your company.
The ability to send quick and affordable international money transfers is a crucial requirement for many modern businesses. Whether you’re buying stock, paying overseas employees or just settling outstanding invoices, finding a cost-effective and convenient solution to moving money around the globe is essential.
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Many businesses need to send money, or receive payments from abroad. International business money transfers offer a fast, easy and cost-effective way to do this. With TorFX sending monthly business payments overseas to pay for employees, stock, services, overheads or other business costs is cheaper, quicker and generally less hassle than using a high street bank service.
For businesses who transfer regular amounts overseas to make payments in euros, US dollars or many other popular international currencies, using a currency broker like TorFX can be a money saving decision. Find out more
Whether you’re importing, exporting or moving money between international offices, TorFX offer very competitive exchange rates for businesses, with services which can help you make important overseas business transfers at the very best rates.
When you work with TorFX you are allocated a personal dedicated dealer who gets to know you and your business, which is handy when you need someone that understands your requirements. Making overseas transfers and payments through TorFX is very straightforward, you should open an account with them first – it’s free and easy to do, and you’re under no obligation to trade.
Using your bank to send money overseas can result in high commission and administration charges. Most high street banks charge a fee per transaction. Together with the poor exchange rates many banks offer, these fees can push the cost of a large international transfer into hundreds of pounds.
Also, if you are worried about the exchange rate moving against you, with a dedicated broker it’s possible to fix a future payment at the current rate – thereby removing the risk of the cost of the payment going up due to your target currency falling.
And for those keen to make the most of rising exchange rates, many companies including TorFX offer rate alert services and the opportunity to set the exchange rate for a transfer to be made. Find out more about TorFX
SEPA payments have a low cost, which has been a major boost for international trade in Europe. As a company, you can transfer and receive euros to and from all countries within the SEPA zone if the recipient bank is SEPA compliant. The system allows you to make transfers easy, secure and fast from day to day. Read more: SEPA Business Money Transfers
SEPA does not cover payments in currencies other than the euro. This means that domestic payments in SEPA countries not using the euro will continue to use local schemes, but cross border payments will use SEPA and euro against euro-zone countries.
If you sell your products on Amazon via its Marketplace, you’ll be selling to people all over the world, opening up a much larger customer base. Selling products via Amazon can be a great way to make extra revenue for your business, and platforms like Amazon help make this possible. Read more: Amazon Money Transfer Solutions
On Amazon, because you can sell products to customers in many different countries, you’ll need a way to manage the international payments for both outgoing business payments and the settlement of earning income from overseas sales. This includes foreign transaction costs and currency conversion exchange rates.