International Business Transfers

Whatever type of global remittance your business primarily deals with – be it one-off transfers or mass international payments – being penalised for sending funds overseas is not something any company wants to pay for. As well as potential penalties, business owners should keep a watchful eye on the mounting costs that come with business transfers: from high interest rates to transfer and commission fees. At MoneyTransfers we strive to help our customers get the most out of every international transfer and make their money go further.

Money transfers for business

Personal transfers vs Business transfers: What is the difference?

The first thing to consider when making an international business transfer is “how does this type of overseas payment differ from a personal money transfer?”

Generally speaking, the main difference between a personal and business remittance is looking at where the funds originated and who they are being sent to. There are numerous ways to move funds from A to B, and both personal and business customers can arrange international payments over the phone, online or in-person, regardless of the method.

The term “personal money transfer” generally applies to an individual customer who endeavours to send money to another individual. Anyone setting up a personal money transfer would register as a private client when signing up with a money transfer company. 

On the flip side, customers conducting money transfers on behalf of a business, should sign up for a corporate account, in the interest of financial compliance. 

Whether you are a small business or a larger operation, companies of all shapes and sizes can benefit from the bespoke services of a B2B payment platform. This is due to the specialist approach these companies take when moving money overseas on behalf of corporate clients. B2B service providers are in a better position to offer competitive commercial exchange rates and faster processing times, as well as being able to support large international transfers.

How can money transfer companies help your business?

Many of the leading money transfer providers currently operating in the remittance space offer tailored international B2B transfer services which are safer, faster and cheaper than the cost of a traditional bank transfer. 

Leading money transfer companies such as TorFX, Wise and Key Currency specialise in helping businesses move money around the world, offering plenty of flexible options such as spot and forward contracts, market orders, business funding and multilingual customer support.

Due to the nature of their business, money transfer companies commit 100% of their time and effort to securing the most desirable foreign currency exchange deals for their customers; as opposed to banks who primarily focus on other financial services such as loans, credit and online spending.

There are countless providers to choose from, but to make it easier for our customers, we have reviewed the biggest and best in the industry. Head over to our Companies page to check out our full reviews.