Irrespective of the kind of job or business you own, the ability to make transfers across international borders cannot over empathize. Either by the exchange of goods or services, money transfer makes business easy and smooth. To choose the best service provider for business transactions, below are factors to consider:
Why you need a business money transfer provider and not your bank
A provider may be expensive at the beginning of set up neither is your bank any different in charges rate. No matter the amount you’re exchanging, a wrong transfer provider can make a vast difference of hundreds or thousands in your currency exchange rate. You must be an expert in fund transfer for your business or company.
Companies online have used technology to make an international transfer of funds quick, affordable, and stress-free. Choosing a virtual provider over traditional ones like Western Union is worth it, as it is a long term solution.
How to select a perfect money transfer for your business
Selecting a good one can be difficult. Comparators are ways to help streamline your pick; on comparing their services and propose they let you choose one that best serves your business or company. Factors to consider are:
Currencies: Before initiating any form of transactions, be sure that the transfer service supports the money you are about to transact. Go for someone that helps your immediate need, but also the territories you’re likely to expand your business or company has it grows.
Swiftness: Time is of the essence. How fast it takes to execute an international business transfer between your company and supplier is very important. Depending on the country, currency, transaction method, day of the week (works days or weekend), the business transaction can be instant, take a few days, weeks, or more.
When choosing a money transfer service provider, see their service records and their performance. They should have the fastest service. For example, Azimo offers instant or an hour delivery to over 80 countries.
It is necessary to compare the cost differences between providers. Comparators help you add up little differences that seem negligible most when you’re sending money in thousands. With all fund transfer, the final cost depends on;
- Exchange rate
- Transfer fees
- Additional transaction fees, usually from intermediary banks on SWIFT transfer
Another thing to note about exchanges rates is to always check the mid- exchange rate before making any transactions. Some companies hide the real cost of transfer by offering a low exchange rate and keeping the difference.
Azimo charges a single, cost-effective exchange rate. Looking at the combined cost of the exchange rate and fee, it is typically the best value money transfer provider on the market.
Clarity: International business transactions are not complicated. Go for the best way to explain the process of making and selling business payments.
Details from a smooth registration to uninterrupted service update to clear messaging across their communications. Azimo’s website has won multiple awards for usability, and the Azimo apps have a close-perfect score on both the App Store and Google Play.
Extra services: Ensure not to leave out little details such as limit orders to forward contracts, find out added benefits or features the transfer providers are offering. If they don’t have the products, find out little information like how much money you can send per transfer and the countries you can transact too.
The least features can turn your business around; it’s valuable to know their offer beforehand.
Customer service: With the high rate of small transfer service providers on the market with occasional mouth-watering offers, most businesses usually opt for them. However, when the deal goes wrong, getting in touch with them can be hard or impossible. Make sure they have the right customer support because things can go wrong at any time.
Before making a decision, research and read online reviews on trusted websites, and find out how the money transfer services charge in terms of customer service.
Azimo business customer service assistance is available in 8 languages and dedicated account managers to help businesses with all areas of money transfers.
Security: Choose a professional service provider with the newest encryption and fraud-detection technology and make sure they are regulated by the right authorities.
Making a transaction with peace of mind is very important; choose a transfer provider where you are confident that you’re safe.
Azimo is a cheaper, safer, and reliable way to make international business transactions. Download the latest version of the app on iOS or Android and start dealing with suppliers & contractors globally. Get your first five transfers free at the best exchange rate.
Register today to start forwarding funds to your business contacts.