Opening a corporate banking account with a digital bank like Jetonbank allows businesses to smoothly send and receive money globally. In this article, we'll explore the international banking transactions that are possible with a corporate banking account and how to maximize this functionality.
What International Banking Transactions Can Be Made with a Corporate Banking Account?
There are a few key international money transactions that a corporate bank account enables:
Send and receive international payments
With account details in multiple currencies, Jetonbank allows businesses to easily transfer funds between countries for things like supplier invoices, payroll, or sales. Recipients receive the money in their local currency.
Process international invoices
Link a corporate account to accounting software for streamlined payment of overseas vendors and clients. Set up automatic wire transfers on invoice due dates to avoid late fees.
Facilitate global trade
Corporations involved in import/export can use a multi-currency account to purchase goods abroad and receive payment from international customers. Proceeds are automatically converted to the home currency.
Pay global payroll
Issuing salaries abroad is simplified with country-specific bank details like IBAN and SWIFT codes. Funds are delivered on schedule in the employee's currency to boost productivity and satisfaction.
Bank overseas subsidiaries
Corporate groups can centrally manage accounts for branches around the world through a single online banking dashboard. Tight budget control and streamlined reporting are enabled.
The main international financial capabilities unlocked by a corporate banking account are cross-border payments, worldwide invoicing, payroll distribution, and management of global subsidiaries - all key needs for any business with international operations.
Can a Business Make an International Payment with a Corporate Banking Account?
Absolutely, initiating international payments is one of the primary purposes of a corporate banking account. Let's explore the process:
To send money abroad, log in to the online banking portal and navigate to the "Payments" section. Enter the recipient's details including country, bank name, IBAN or SWIFT/BIC code, and currency. Review the exchange rate and transfer fee disclosure before submitting.
Provided all information is accurate, the transfer is processed instantly and the funds are delivered directly to the recipient's bank account within 1-3 business days, depending on bank holidays and weekends. No need for wiring through third parties.
It's also possible to set up automatic recurring international payments like payroll or regular supplier invoices.
Simply schedule the transfers and the corporate account will process them autonomously on the designated dates, saving time and avoiding late penalties.
Businesses absolutely can make secure, regulated international payments right from their corporate banking account. It's a convenient, streamlined way to transact globally.
Is It Possible to Make an International Payment with a Corporate Banking Account?
The short answer is yes - making international payments is one of the core functions of a corporate banking account. Let's explore this capability in more detail:
With most traditional banks, wiring money abroad often requires visiting a physical branch during banking hours. But digital banks like Jetonbank allow businesses to initiate international transactions 24/7 completely online.
All that's needed is the recipient's name, bank details, and currency. Major digital currencies supported for transfers include USD, EUR, GBP, CHF, CAD, AUD, and more. Minor currencies can also usually be received by converting to a major one first.
Delivery speed depends on bank holidays but on average international wires arrive within 1-3 business days. Funds are deducted from the sender's account and deposited directly into the recipient's bank, eliminating fees from third parties.
Advanced features let businesses schedule automatic recurring payments, attach customized remittance details, and track transfers in real time. Multi- approval workflows ensure compliance for large sums.
Businesses can quickly, reliably and cost-effectively send money globally directly from their corporate banking account whenever needed. It streamlines financial operations internationally.
Make and Receive International Payments with a Corporate Banking Account
Opening a corporate banking account with the right digital bank not only allows sending money internationally, but also enables easy receipt of cross-border funds. Let's explore the key benefits:
- Receive supplier and client payments: Provide international bank details to trade partners so invoices can be paid directly into the corporate account. Funds arrive within 1-3 days in the relevant currency.
- Accept payments worldwide: Corporations doing e-commerce or with foreign clients can provide bank links on invoices and quotes accepting deposits from over 150 countries.
- Streamline global invoicing: Integrate accounting tools to automatically generate customized invoices with embedded payment links in various currencies.
- Boost cash flow transparency: All international deposit details conveniently appear with local currency balances in a single online banking portal for comprehensive cash flow oversight no matter where revenue originates from.
So whether receiving regular supplier refunds from Europe or one-off client credits from Asia, a versatile corporate banking account from Jetonbank facilitates easy receipt and management of inbound international monies alongside outbound payment capabilities. It's a one-stop solution for global corporate banking needs.
The Most Advantageous Digital Bank to Open a Corporate Banking Account
When it comes to facilitating international finances for businesses, not all banks are created equal. Jetonbank stands out as a premier choice for corporate banking due to powerful benefits like:
- Multi-currency accounts in over 50 world currencies with fast transfers between balances
- Online banking platform designed for businesses with team sub-user access and approval workflows
- No hidden fees - transactions, wires, currency exchanges performed at interbank exchange rates
- Dedicated relationship managers and support team accessible via phone, email and live chat
- Advanced security with bank-level encrypted connections, two-factor authentication and anti-fraud monitoring
- Integrations with accounting software for import/export of transactions
- Insured up to €100,000 per depositor under European Deposit Insurance Scheme
By opening a corporate banking account with Jetonbank, businesses gain a tailored digital solution for all international financial needs in a cost-effective, user-friendly package. Reliable global payment and treasury tools optimize cash flow all in one place.
Leveraging the powerful international banking capabilities of a well-rounded corporate banking account can streamline financial operations for companies doing business globally.
Whether sending or receiving funds across borders, digital platforms like Jetonbank modernize cross-border business banking.
