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A Complete Guide to B2B International Transfer

Businessmen doing Money Transfer

A dedicated money transfer service makes it easier to incorporate online B2B global payments into your business model. When you leverage technology, you also leverage profits.

Modern technologies have birthed many proud achievements, including simpler international business-to-business transactions. This has dissolved the barriers once faced by traditional businesses since issues like complicated payment processes and slow transaction times no longer have to apply.

Companies in any industry or market can increase sales, reduce costs and remain competitive by taking advantage of faster and more transparent payment systems. This guide explains how to make the most of B2B international transfers to make your money go further.

What’s the Best Way to Send Money for a Business?

There are several international money transfer options for businesses to consider. At first glance, banks might seem like the obvious option. However, banks don’t offer B2B payments as a dedicated service.

Their primary focus is financial products like loans, credit, and online spending. They don’t handle international transfers in bulk, so they boost profits through expensive transfer fees and high exchange rate markups.

The better alternative is a money transfer service like MTFX. You can rely on foreign exchange specialists to provide a specifically tailored service that meets your business needs.

A dedicated money transfer provider is also the fastest and cheapest option for international business transfers. The competitive exchange rates and lower fees will help ease the pressure on your bottom line.

How to Receive Payment from International Clients?

Again, a money transfer service is the best way to accept international payments. Using an MTFX online account, you can now offer more payment options and ensure that your customers pay in a way they’re familiar with. MTFX’s suite of global payment options includes multi-currency functionality, so you accept payments in different currencies in one place.

It’s the cheapest way to receive international payments because you can simplify reconciliation and receive funds without needing multiple foreign bank accounts, which helps cut costs.

In addition, accepting local currency payments when engaging in international trade reduces charges for customers and improves customer conversion and loyalty rates.

What are the Benefits of Using a Dedicated Transfer Provider?

Using a dedicated international B2B transfer service makes sense for several reasons. When you’re running a business, every dollar expense counts. You also have to maximize time efficiency because time is money.

With a leading money transfer service like MTFX, you can enjoy the best of both worlds with bank-beating exchange rates, low transfer fees, and faster B2B payments. MTFX offers tailored services, meaning you’ll have currency specialists committed to securing the most favorable foreign exchange deals for your business. You also get more value with each transaction with features like currency updates, rate alerts, and currency options.

How Foreign Risk Management can Protect your Business?

Foreign exchange deals carry risks because the market is volatile. Exchange rates don’t stay the same, and your payments could be affected by poor currency conversion rates and high exchange rate markups.

The first thing you can do to shield your profit margins is to use a B2B international money transfer specialist like MTFX. You need a business-friendly service that can help you capitalize on the best rates for current market conditions while warning you about any risks.

You can use forward contracts and market orders to hedge currency risk and protect against currency fluctuations. A forward contract lets you lock in a desirable rate for future scheduled payments.

With a market order, you can target a specific rate and make the exchange once it’s reached. You can also control downside risk by choosing a lower acceptable rate to trigger an exchange and protect against significant losses if there’s a downswing.

How to Ensure a Low-Fee International Money Transfer?

A low-fee international money transfer is ideal when choosing a B2B international global payment solution, whether you’re making once-off or mass payments. Sending large sums of money overseas is the norm in the B2B sector, and the frequency of these high-value transactions is also high.

Therefore, it’s worth seeking an international business payment provider that matches the mid-market rate and has a more competitive fee structure without compromising on speed. In addition, transparency is key, so you always know whether the cost matches the amount transacted.

Pay your partners in minutes, not days

Make an International Business Transfer Today

If your company is looking to optimize international payments and maximize profits from global commerce, MTFX can help.

  • Can I set up regular payments for my business? – Yes, MTFX’s best-in-class technology makes it easier to set up and automate regular payments.
  • How long does a B2B money transfer take? – International money transfers typically take 24-48 hours, or they can be instant.
  • Can I track my transfers? – Yes. You can check rates, view balances, transfer money, and track your transfer quickly and efficiently via our secure 24/7 online platform.
  • What is the limit to send money overseas? – The limits depend on the amounts, currencies and countries involved, but they’re usually flexible.
  • How can I better manage my business money transfers? – Get expert guidance from currency specialists to find the right international business payment solution that matches your different needs.

Open a business account with MTFX and benefit from simple and convenient B2B international transfers.

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FAQs

Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into. Personal clients usually use our services to transfer money between their own accounts in two different countries. Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands. We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world. Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.