International bank account number.
Seamless Transfer at Lower Cost
Do you wish to lower the cost of international fund transfers?
For many of the cross border entrepreneurs, the prohibitively high fees for fund transfer has eroded the profit margin for years. Trying to make the process as affordable as possible, many have turned to Virtual IBAN as the solution.
Just like an normal IBAN (International Bank Account Number) in the conventional sense, a virtual IBAN is issued by a bank to accept payments. It works exactly the same way as any other bank account in receiving and even sending money. Only that, the funds will be rerouted to a physical bank account, and you will be able to pick up the amount from the physical account linked to the Virtual IBAN.
If your overseas buyers were to transfer the funds to your physical account in your home country, either they have to incur huge Telegraphic Transfer fees, or you would need to maintain a separate account in their country. But with Virtual IBAN, both processes are eliminated. When your customers can buy from you without paying extra, surely they will be happy to buy again and again. It surely facilitates your company to expand business on a global scale with ease.
A virtual IBAN is truly a multi-currency, multi-jurisdictional banking solution without the hassle for maintaining several different accounts across the world. For bigger organisations, such as forex brokerages, Virtual IBAN allows them to control a master IBAN account, and assign separate virtual IBAN accounts to each of the customers, thus lowering fund transfer fees while expediting the process.
The Benefits of Virtual IBAN
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