B2B International Payments
The world has changed and instantaneous is the new fast. With banking, things have clearly lagged behind.
Technology and transparency were placed second to a multi-departmental bureaucratic nightmare.
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Realisto offers international payments that take full advantage of FinTech.
and the latest regulations with virtual bank accounts fit for modern businesses secure, fast and reliable.
PROBLEM:
International payments are complicated and expensive. Banks are slow, frustrating, and offer little to no support. Once money is sent, there is little way to track where it is in the transaction process
WITHOUT REALISTO, YOUR COMPANY:
- Cannot open a bank account in Europe
- Cannot collect or send domestic wire transfers (SEPA Payments)
- Pays SWIFT fee of €30
- Pays currency conversion cost of 3-6%
- Cannot access local payment gateways
- Suffers the Frustration of bureaucratic banking processes
- Cannot collect payments from marketplaces like Amazon
- Takes 2-5 days per transfer
SOLUTION:
A virtual bank account with unique IBAN number for non-resident companies. The account is linked to your home bank account in your home country. You get a faster, 80% cheaper and transparent B2B transfer.
WITH REALISTO, YOUR COMPANY:
- Receives SEPA payments from 35 EU countries for free in 2-12 hours
- Makes SEPA payments to 35 EU countries
- Saves €30 SWIFT charges and +80% on FX
- Takes advantage of FX conversion automation
- Uses its IBAN to integrate with marketplaces and payment gateways
- Accesses premium brokers to make global payments in 138 currencies
- Gets Instant notifications of incoming payments
- Takes advantage of online onboarding
BENEFITS:
Good customer service
Cost savings
Agility
Less complexity
EXAMPLE:
Sending money to Brazil from Europe can take 3 or 4 days and the conversion fees are 5% or more. FinTechs use automatic processes and bulk transfers to lower that fee to 1-2%. But just lowering the fee isn’t enough: using blockchain technology, sending money to Brazil takes hours.
B2B International payments
When it comes to B2B international payments, there are not many options. In almost all cases, the European company will simply initiate a payment with their local bank, which will then send the money to the non-resident partner’s bank, possibly through some intermediary banks.
Each bank makes money on the transaction. Consequently, the incurred fees are at least 3% and can – at times – even exceed 6%. For a transaction of 50,000€, this can mean fees between 1,500€ and 4,000€.
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Save 80% on cross-border payments & B2B supplier payments
Realisto provides a payment solution to any company outside of the Europe that saves time spent muddling through bureaucracy and 80% of the fees. The exporter gets their own IBAN number inside the EU, which can be used to receive payments from 34 countries. When the money comes in (through a simple SEPA payment), we send it to the local bank of the exporter for a fee of 1%.