And a Powerful Alternative Banking Solution for Global Transactions
In today's interconnected world, international transactions have become a common occurrence for businesses and family offices alike. To facilitate these transactions, banks have introduced several banking solutions, including dedicated IBANs and Multi-Currency Accounts, that cater to the specific needs of these entities.
What is a dedicated IBAN?
A dedicated IBAN is a unique identifier that helps in identifying the account holder's bank account details and facilitates cross-border transactions. It is a crucial tool for businesses that have clients or suppliers in different countries. By having a dedicated IBAN, businesses can receive payments from clients located in different countries and pay suppliers based in other countries, without having to worry about the complexities of international banking.
Similarly, family offices that have investments and assets located in different countries can also benefit from a dedicated IBAN. It enables them to receive dividends and other funds from their investments in different countries and pay their expenses and bills, without having to worry about currency conversions and other fees associated with international banking.
What is a Multi-Currency Account?
A Multi-Currency Account, on the other hand, allows the account holder to transact in multiple currencies. It is an essential tool for businesses and family offices that have clients, suppliers, and investments located in different countries. By having a Multi-Currency Account, they can hold and transact in multiple currencies, avoiding currency conversion fees and the risk of currency fluctuations.
The benefits of a Dedicated IBAN and Multi-Currency Account for businesses and family offices are as follows:
Simplified International Transactions: A dedicated IBAN and Multi-Currency Account simplify international transactions for businesses and family offices. They enable easy and quick transfer of funds between different bank accounts in different countries, without having to worry about currency conversions and other fees associated with international banking.
Cost-Effective: A dedicated IBAN and Multi-Currency Account are cost-effective solutions for businesses and family offices involved in international transactions. They help in saving on currency conversion fees and other charges associated with cross-border transactions.
Improved Cash Flow: A Dedicated IBAN and Multi-Currency Account improve cash flow for businesses and family offices involved in international transactions. They enable quick and easy transfer of funds between bank accounts in different countries, avoiding delays in payments and improving cash flow.
Reduced Risk: A Dedicated IBAN and Multi-Currency Account reduce the risk associated with international transactions for businesses and family offices. They enable easy tracking of transactions in different currencies, reducing the risk of errors and simplifying the process of reconciling accounts.
In conclusion, a dedicated IBAN and Multi-Currency Account are essential for transactional solutions for businesses and family offices involved in international transactions. They simplify international transactions, reduce costs, improve cash flow, and reduce risk. By using these solutions, businesses and family offices can streamline their international transactions and focus on their core operations.
Dedicated IBANs & Multi-Currency Accounts with Interpolitan Money
Interpolitan Money provides accounts with dedicated IBANs to businesses from start-ups to publicly-listed global brands around the world alongside our private client offering.
Our alternative banking solutions provide organisations with an enhanced alternative to their traditional banking partners, for the sending and receiving of large volumes of payments and the opening of local accounts globally.
We typically aim to open accounts within 7-10 days, including working with complex structures and non-residents from over 160+ countries providing more flexibility than traditional banks.
Open a unique named Interpolitan account in your or your company’s name to pay, collect and hold currency balances and get instant access to your funds, in 50+ currencies. Send and receive funds to 160+ countries.
As an Electronic Money Institute (EMI) we hold your funds in specially designated, safeguarded bank accounts, with our tier 1 banking partners, which keep your funds separate from our other assets, which means your funds are protected.
Interpolitan Money clients have access to a range of solutions to sit alongside their multicurrency account including Mass payments, Escrow and FX risk management to manage their foreign exchange exposure.
Interpolitan Money: a truly global alternative banking solution
Interpolitan offers a comprehensive alternative banking solution. We use cutting-edge technology to handle multi-currency accounts from beginning to end, allowing clients to pay, collect and hold funds in 55+ currencies from 160+ countries.
Accelerate your international growth with named local accounts, virtual IBANs and access to FX risk management solutions.
We can open client accounts within 7- 10 working days. Funds are held in designated, safeguarded bank accounts with tier one banking partners.
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