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January 2016

How Can An Indian Company Open A Bank Account In Europe?

By | Banking

India is a pretty progressive country that inhabits a billion people. The pace at which India is developing, both technologically and economically is brisk. This success, development and progress are a result of its performance in the international market.

The major rule of expanding to other countries is to have a base set up in the destination country. For instance, if somebody is trying to expand his horizon with a move to a different country, then he must first set up a Headquarter or a base of operations for his firm. The amalgamation of different European countries in a single union is named as European Union. The laws and regulations in the countries that are part of the EU are pretty similar, with only minute differences here and there. The intercontinental transactions has been made easier in Europe since the creation of the European Union, but what about the millions of Indians trying to expand the borders of their business to the vast greenery of Europe? In order to buy property or to buy anything else for that matter in an entirely different country, you need to have a bank account in the country.

Here is a detailed explanation of how to do exactly that;

Choosing a Bank

Banks in Europe are allowed the courtesy of deciding their own customers. No laws within the European Union can prevent or force a bank to open a bank account for a particular customer. Therefore, it is essential to choose a bank beforehand that has a history of granting permission for the opening of a bank account for people who are not exactly residents of the European Union.

Filling the form

An online form can be submitted from the comfort of your home that expresses your desire to the bank about getting an account opened in your name. After the form is filled, the bank will inform you about the ways you can identify yourself as a proper candidate who is viable to receive the bounties of a bank account.

Proving your Identity

For an Indian national, an important step in opening a bank account in a European country is providing the required documents to proof your identity. Identifying yourself is a process that gives the bank a go-ahead to process the opening of your bank account. There are two methods through which you can identify yourself in any European country;

  • By Lawyer or Notary
  • By Bank

By lawyer

It means to identify yourself in a European country with the help of a lawyer; the lawyer takes responsibility on your behalf. The lawyer that takes the responsibility must be a resident of the EU.

By Bank

It is a very simple process, it involves the bank that you use in any state of India to share details with the bank where you are trying to open an account. The bank back home in India and the bank in your destination country collaborate together and settle the case.

This is all it takes to open a bank account in any country in Europe. Apart from opening an account in a bank in Europe, some other questions also wander in the minds of many Indians who decide to expand their business to Europe.

Virtual bank account for exporters

If you export into Europe you can also consider signing up with B2B Pay. With B2B Pay an you can get your own virtual bank account inside the European SEPA zone, combined with vastly cheaper fees for currency exchange and transfer to your local bank account.

Paying Taxes

The regulations for paying taxes on a bank account in Europe are particular to the country you have chosen to open a bank account. Overall, most countries do collect some service charges or taxes, while some such as “Germany” do not compel you to pay taxes to the government unless you make use of the money in the country.

B2B Pay – Exports to Europe Made Easy

By | Banking, Money transfer

B2B payment simply refers to the business transaction between 2 businesses for the completion of a task. For instance, a company A makes shoes, but to make shoes, it needs leather. Conversely, a company B specialises in the accumulation of leather. In order to fulfil its purpose, company A needs leather from company B so that they can create shoes. The relocation of money in this whole scenario is referred to as B2B pay, or Business to Business pay.

b2bpay-logo is a joint venture of innovators and entrepreneurs from Finland, New Zealand, India, Holland and Brazil. The basic idea of the site is to help exporters receive money. We provide exporters with a virtual bank account inside the European Union and then transfer the incoming money to the exporter’s local bank account in for example India or Brazil.

When an investor wants to relocate money between European countries and India, he or she is required to pay 3 to 6% in terms of charges for the relocation. That does not seem to be the problem for B2B Pay, since B2B Pay transfers money to and from these countries at the rate that is below 1%, which means you save almost 80%.

Transparency about fees

In its entirety, Europe has a cumulative sum of nearly 200,000 banks; all of these banks have variable fee plans, structure and processing times for transactions. Exchange rate plays a vital role in this whole situation, for instance if you receive an amount from Europe, they will only initiate the transaction by using a payment order in their bank. Usually a fixed charge is deducted for the services, but the big trade-off is the exchange rate. The bigger the difference in exchange rate, the bigger the difference in the total amount sent and total amount received. This is a reason in potentially losing hundreds of euros. On the other hand, B2Bpay believes in transparency about charges. They claim to provide the best business in town with the best rates in the market. This can be proved by the fact that their rate for India is only 0.8%. Which means, your costs are reduced by up to 80%.

Annually, more than 100,000 small exporters and businessmen, send goods and provide services to their clients in different parts of Europe. These transactions and deals are carried about in a similar manner, the two parties meet, agree on a deal, sign documents that make the transaction official. The exporter then exports the product or the service to the importer, while the importer returns the favour with money. As expressed earlier, all the payments that the importer makes, are made with his or her local bank, while the exporter bears all the cost related to the transaction.

No more overpaying

The real question is, how does B2B Pay help you in avoiding such circumstances where you have to overpay on transactions to receive your money?

To take care of all the hullaballoo, B2B Pay conducts all necessary checks when it registers you as a customer if you sign-up. Additionally, it also adds information about your bank account number into its database system.

B2B Pay IBAN number in Europe

To receive money in any country associated with the European Union, B2B Pay also provides you with a European IBAN bank account number. An IBAN number is your key to keep track of your transactions and your money. Thanks to SEPA the very IBAN number can be used in all 34 states under the banner of European Union for absolutely free.

When the money arrives in your European bank account, B2B Pay sends it to your local bank, since they already have your local bank account number. Additionally, their fee for this transaction is 80% less than the lowest fee offered by any other service provider of the same genre. This guarantees a saving of 2-5% on the value of transaction. Of-course, this will directly impact on your profit by 10 to 20%.

In conclusion, when you sign up for B2B Pay, you get to take a compliance test only once. It also supports profitable currency conversion and payment to your original bank is so much simpler. Furthermore, it provides you with a European IBAN account number that sets up your European transactions pretty neatly.

b2bpay logo

Exports from Brazil

By | Money transfer

Exports from Brazil: Whenever anyone mentions Brazil, our mind immediately thinks about beautiful beaches, scintillating girls and football, lots of football. But there is actually more to Brazil then just beaches, girls and football. Believe it or not, Brazil is the mainstay of South America, with the 5th highest population in the world; it is also the hub of trade and commerce in the continent.  

Exports play an important part in the incomes of a nation. The relationship between imports and exports determine how stable a country’s economy is. Brazil, being the 9th highest economy in the world, and it did not achieve that feat without doing much. In the international trade market, Brazil exports most of its products to countries like China, United States of America, Argentina and the Netherlands. In terms of imports, Brazil’s main partners in the ally are again countries like, China, United States of America, Argentina, Germany and South Korea. Below is a list of 10 items that Brazil exports more than anything else.

Refined Petroleum

Refined Petroleum is the 10th largest trade that Brazil makes. On its own, refined petroleum that Brazil provides, is sufficient enough for the whole of South America.

Aircrafts, Helicopters and Spacecraft

Contrary to popular belief, USA is not the largest supplier of aircrafts, helicopters and spacecraft. It is true that USA manufactures and sells the most amounts of arms and ammunition throughout the entire universe, but aircrafts, helicopters and spacecraft are a completely different thing. Brazil provides all, the spare parts, resources and the built crafts.


Being one of the biggest countries in the world that is famous for its agricultural setup, it is no surprise that so many of Brazil’s agricultural products make it in the international market. Corn is one of the substance that Brazil exports more than any other agricultural product.


The world’s fuel. It is a universal fact that over 80% of adults in the world, run on 2 things, either coffee or tea. Well, Brazil makes plenty of coffee, even so much that they export the leftovers to other countries and make millions off it.

Soybean Meal

Soybean meal is not just a major source of nourishment for humans, but it is also a significant source of food for animals. Brazil provides a lot of Soybean meal for everyone’s needs.

Poultry Meat

Poultry includes animals from farms, like Chicken, Ducks, Quail, Turkeys and all the by-product that comes from them, like eggs. Brazil is a major exporter of Poultry Meat.


Sugar is the main source of carbohydrates. It can be found in almost every edible substance that we consume. In the list of Brazil’s highest exports, Sugar ranks at 4th.


The Soybean is famous all around the world, in Europe it is known as Soya bean. It is plant that is grown in the forest, and the only edible part is, is its bean.

Crude Petroleum

Crude petroleum is the total opposite of refined petroleum. Refined petroleum is the fuel used in automobiles like car, bikes and trucks. On the other hand, Crude Petroleum is the more raw form of petroleum. Among all of Brazil’s exports, Crude petroleum ranks as number 2nd.

Iron Ore

Voila, Brazil’s most significant export is Iron ore. Iron ores are not exactly raw form of iron, but it is the mixture of rocks and mountainous parts out of which pure iron is extracted and then put to use.

There you have it folks, that was the top ten of Brazil’s biggest and the most significant exports. Other honorable mentions are;

  • Sulfate Chemicals
  • Wood pulp
  • Cars
  • Vehicle Parts
  • Semi-finished iron
  • Frozen bovine meat
  • Tobacco
  • Gold
  • Fruit Juice
  • Ferroalloys
  • Alcohol > 80% ABV

Banks in Brazil: an overview

By | Banking

This is an overview of banks in Brazil.  Banks in Brazil use the IBAN numbering system.

When we talk about trade and commerce, we think about banks and accountants, because the two things are inter-related. When it comes to Brazil, the banking sector in the country is booming like many other economic bases. There are many banks, both national and international, that are plying their trade in a rapidly developing country like Brazi.

List of banks in Brazil

  • Banco Bradesco Financiamentos
  • HSBC
  • Banco J Safra S/A
  • Banco do Estado do Rio Grande do Sul S/A
  • Caixa Econômica Federal
  • Banco PanAmericano S/A
  • Banco Itaú
  • Banco Santander
  • Banco do Brasil
  • CitiBank

Banco Bradesco Financiamentos

The Banco Bradesco Financiamentos was founded in the year 1943. Opened its first office in the city of Marilia, Sao Paulo. The bank is currently Brazil’s second largest when it comes to private banks in the country. The current headquarter of the bank is in Osasco, Sao Paulo at the building Companhia Cidade de Deus. Being in business in Brazil for almost 7 decades is no mean feat, and one cannot do that unless it has some merit. Similarly, the banco Bradesco Financiamentos has acquired several of the most significant institutions in Brazil, like Banco do Estado do Maranhao and Banco Morada, and several others. To add to that, the bank has also been successful in taking over the charge of operations for American Express Credit card in Brazil. The Banco Bradesco Financiamentos has also been good in the numbers game, with 1.4 million shareholders, 95248 employees countrywide, and 3235 offices throughout the nation.

Caixa Econômica Federal

The Caixa Econômica Federal initiated business way back in the year 1861. It is the bank owned by the government of Brazil and is the sole bank in the country with FGTS, PIS and the payment unemployment insurance. Apart from that, it also looks after the government’s interest in Programa Minha Casa and Minha Vida. As far as the numbers game is concerned, the bank has 2229 offices situated in the country, 10954 casas lotericas and 81500 employees throughout the nation.


HSBC is an international commercial cum investment bank that is organized within 4 factions, that are; Commercial banking, Global banking and markets, personal financial services and global private banking. Right now, HSBC has representation in around 87 countries and in Brazil, it is present since 1997. Its current headquarter is located in Curitiba. In the numbers game its performance are off the chart, with 933 offices throughout the country and 25122 employees.

Banco J Safra S/A

Banco J Safra is famous in Brazil for the fact that all its clients are elite. Operating in Brazil since 1955, it’s based in Sao Paulo with over 100 offices throughout the nation. The numbers support its ranking as a major banking firm in the country. As of now, it has a century of banks spread throughout the country, with 5605 employees working in them.

Banco Itaú

The Banco Itaú purchased Unibanco in the year 2008, since then its market value has skyrocketed 120%. This made it a valuable member of the top ten banks in Brazil. Banco Itaú is not just famous in Brazil, but it is also pretty well known in whole South America. It is based in Sao Paulo. Currently they have more than 4500 offices and 14.5 million clients. And being the conglomerate that it is, it employees more than 190000 employees.

Banco do Estado do Rio Grande do Sul S/A

Based in Porto Alegre, the bank has branches in 364 cities. Banco do Estado is a state owned bank and has 438 branches and 500 ATMs throughout the country. The bank also has 9762 employees working for it.

Banco PanAmericano S/A

Founded in the year 1969, the bank has taken its development to the next level gradually. Now it has 237 offices, 2425464 clients and 3Million credit cards.

Banco Santander

Initiated in 1991, the bank now has 1897 offices, 7119 ATMs and more than 6.7 million clients. Currently its total assets amount to more than $222 Billion.

Banco do Brasil

The largest bank in Brazil on the basis of total assets, the banco do Brazil has its headquarters in Brasilia. The bank was founded in 1808 and is owned by the Government of Brazil. The bank has more than 5000 offices, 40000 ATMs, and 110000 employees.


The world renowned Citibank is headquartered in Sao Paulo since 1915. Currently it is operating in 21 out of the 26 Brazilian states. Currently they have more than a 100 offices, 11500 ATMs and more than 2000 employees.

More information

B2B export from Malaysia to Europe

By | Money transfer

Malaysia as one of the top 20 Exporting nations worldwide (Source: WTO) has export earnings of around Malaysian Ringgit (MYR) 72.84 Billion in its trade with Europe for 2014. This was an increase of 11.6% from 2013. The main items exported by Malaysia to EU were Electronic and Electrical Equipment especially IC (Integrated Circuit) Boards. The top five major destinations for Malaysian exports to the EU were the Netherlands, Germany, the United Kingdom, France and Belgium. Other items which saw an increase in value were palm oil, chemicals, optical and scientific equipment, machinery, appliances and parts, transport equipment, textiles, clothing, and footwear (Source: MITI).

Legal Requirements to export goods into EU

The following procedures/regulations need to be complied with before a Malaysian exporter can start sending their goods into the European Union.

  • The first time a Malaysian company makes any customs declaration to export a product into the EU, the company will be given an EORI (Economic Operator Registration and Identification). This is a unique identifier for use by Customs Authorities in the EU for anyone wishing to export or import goods into the EU. The EORI must be used in all communications with any EU Customs Authority for the purpose of exporting or importing from and to the EU.
  • The next requirement is the Entry Summary Declaration (ENS). This will contain information about the consignments entering the EU. This must be done in advance (of the goods arriving) at the first port in the EU where the vessel transporting the goods crosses into EU territory.

There are different deadlines for submitting the ENS to Customs. The deadlines is based upon the type of vessel transporting the goods into the EU (source).

There are strict rules on the export of goods into the EU and Malaysian exporters need to be aware of these rules prior to shipment of their goods into the EU (see this document).

There are more tips on EU import requirements at the European Commission website.

When does an exporter of goods into the EU expect payment?

A Malaysian exporter can specify what the payment terms are upon signing of the contract for the supply of goods with the recipient EU based company. The EU has enacted legislation that specifies what the terms of payment are for B2B transactions. This was done to protect EU based business especially SME’s from having cash flow issues which affect their business. The directive also provides for protection for non EU based exporters provided the contract specifies that the payment terms are as per the Late Payment Directive. This is usually 60 days unless mutually agreed by both parties.

More information can be found at the European Commission website.

exchange risk b2b exporters

Exchange Risk for Exporters and Solutions

By | Banking, Money transfer

Importers and exporters have to keep in mind many issues while making transactions and making money exchange. Even if they want to deal with the transfer of goods internationally they make up their mind with the best strategy aligned with their budget and profit margins. The fluctuations in the exchange rate are a major concern for the person dealing internationally. For example the price you are willing to pay today may rise or fall in the coming next day and it may cause you loss as well. We can see that current economic condition is fluctuating on day to day basis. So it is very difficult to keep track of these changes.

The instability in political conditions may cause you loss in your earnings so it is considered one of the major risks. It can even cause problems in the completion of your contracts. On the other hand government policies may change. We have to carefully look over the factors such as civil disorder, natural disasters, war conditions and local laws as well. Political risk Insurance will help you to analyze and minimize these risks to the maximum level of certainty.

Legal Risk is the risk which you may face when there is a difference and contradiction between the rules and regulations of the two involved countries or companies. For example difference between legal law system and civil law system. The issue entailing the topic that which country law will be applied in case of any dispute. The parties have to reach at a comprisable answer to precede the dealings. Liability laws of products and warranties, these are of great concern. Taxation and misinterpretation of laws can drop down your projected revenues if strategy is not carefully developed. All mentioned concerns in this paragraph comes in legal risks. We can see that how important is to minimize it.

The risk of Quarantine Compliance occurs when you are not aware of Quarantine requirements. You must know that what is allowed and what is not allowed under the quarantine laws of the said destination. If not carefully handled it may lead to the restrictions, fines or damages of goods. So to maintain ongoing good relationship with the party you are dealing with you must take care.

Nonpayment risk often results due to unreliable sources. You are not paid even when you have fulfilled all the requirements of the other party you are in contract with. You must consider the risk and credit terms before getting into the contract. Keep track of the credit reports. Get protected with credit insurance to minimize such risks.

You must manage your risks by thinking critically about all the undesirable outcomes that you can face while dealings. It is the key to success and maintaining profit margins. Management of your risks will prepare you for every kind of situation. You can make your dealings fair and smooth. This will further make your relationship more friendly and reliable. And you will generate loyal customers as a result.

B2B Pay is the solution to some of your international trading problems or money transfers. With B2B Pay you will get you own IBAN number in Europe with which you can collect payments without any charges in thirty four European countries. You can save up to eighty percent on currency exchange. In this way you can increase your profit margins by ten to twenty percent. You can have payment account details on invoices or websites. Exporters face many challenges while trading or currency conversion. The two most common issues faced by the exporters include the time banks takes to deliver b2b payments and the charges of the bank while converting currencies. B2B Pay is lowering these costs to great extent.

By signing up with free B2B Pay services you get compliance checks, flat fee for currency conversion and paying your bank account in home country. IBAN account is provided for your ease, no complicated steps or procedure to follow. No delays in the payment, payments are reached timely meeting your expectations. B2B pay promotes fair dealings no hidden charges like others. Transparency of payments is what B2B pay delivers. Be aware of all the problems you may face in the future and choose a reliable and efficient means of transferring the payments.

Sending money to Malaysia

Sending Money to Malaysia

By | Banking, Money transfer

Remitting or sending money to Malaysia is a fairly easy process these days. The Malaysia currency is known as Ringgit (pronounced as Ring gait) Malaysian with its usually known symbol being RM or MYR.

Sending money to Malaysia

There are two methods to sending money to Malaysia. The first is the traditional method using conventional banks and financial institutions operating in Malaysia. These financial institutions are regulated by the Malaysian Central Bank or Bank Negara Malaysia. The remittance of funds is covered by the Exchange Control Act 1953 and the Payment Systems Act 2003. The other method which only recently has become more popular due to the convenience of the Internet is online transfers such as Western Union, PayPal which are the more popular remittance service providers.


There are various rules regulating the transfer of funds into Malaysia from overseas. The rules applies differently to residents and non-residents. The rules are also different for companies and individuals. Different rules also apply to remittance of foreign currency to Malaysia and the remittance of foreign currency to be converted into ringgit.

B2B transfers

Exporting companies which would receive payment for product or services rendered and to be paid by the foreign company in any foreign currency must show proof of that the product or services was purchased and invoiced to the foreign company. The funds sent must correspond to the value of the product and services invoiced by the Malaysian resident company. The company remitting the money would also have to provide correct details about the invoicing company and its bank account – ie Name of the account, Bank Name and address and SWIFT or BIC (Bank Identification Code) which is the bank’s unique identification code.

See also our article B2B money transfer

Individuals receiving money

Individuals (residents or non-residents) can receive funds from overseas via normal money transfers into their bank account. These funds will normally be converted from the foreign currency into Ringgit before being deposited into the local bank account. Individual residents or non-residents can also receive foreign currency in the specific foreign currency i.e. not converted into Ringgit if they have a Foreign Currency Account Bank Account. However, the currency being remitted must be the same as the type of currency the Foreign Currency Account was opened with – a remittance of USD$ can be deposited into a USD$ Foreign Currency Account but a remittance of Euro € may not be remitted into the USD$ Foreign Currency Account. The other issue with transfers via bank accounts is the time taken for the funds to be cleared and available to the recipient is based on the individual bank’s operating hours and clearance guidelines which can sometimes be up to five days.

For a faster more convenient method, online transfers are used to remit funds to residents and nonresidents. These transactions can be completed in minutes and to any location in Malaysia which is affiliated to the particular remittance company.

The overseas sender may be requested to provide information about the recipient who is based in Malaysia such as name, passport number or date of birth and other personal information. The recipient would only need to show some form of identification or some information corresponding to whatever condition set by the sender to receive the funds.

Further reading

Banks in India

By | Banking

Geographically, Asia is the largest continent of the world, with over 60% percent population of the entire planet. The continent has more than 50 countries, that are either very rich, like China, India or Indonesia, very poor and disturbed, like Iraq, Afghanistan and Pakistan etc. China and India are the two front runners from Asia, which are at competition on over everything. They have similar numbers in population, similar industrialization scopes, and similar level of education, in short the only visible difference is the fact that China is a socialist country, while India is a democracy.

India, with a population of over 1.2 billion people, serves as the ideological, geographical, industrial, and technological hub for South Asia. That being said, more and more companies from far off lands like Europe and America, want to come over here and invest in the market because they realize that India is booming economically. This outreach by firms from abroad has brought many opportunities with itself. This trend has also convinced many leading firms from the banking sector of the world, to set up shop in India. Nowadays, numerous banks from overseas can be seen operating in the country. These banks include, multimillion conglomerates and newly budding banks alike.

Banks in India

Banking in India has always been lucrative for the people of the country. Non-Indians believe in this weird myth which says that Indians are wonderful at Mathematics and great with numbers. This might not be true in its entirety, but there is no denying the fact that Banking is one of the high risk and high reward sector in India. Banks in India, range from million dollar franchises to government operated banks. A composed study of the biggest banks of India, is as follows;

State Bank of India

The State bank of India is the government controlled bank of India. It is responsible for all the state owned tasks of the country, like printing and distributing currency, submission of utility bills and etc. It currently has more than 9143 branches throughout the country.

ICICI bank

ICICI bank is not the largest in terms of number of employees or branches but its net profit at the end of the fiscal year is enough to get it ranked second in the list of the biggest banks of India. It currently has more than 557 branches throughout the nation.

Punjab National Bank

As the name suggests, the mainstay of banking sector in the state of Punjab. Punjab national bank has more than a whopping 4000 branches across the nation with over 58000 employees throughout.

Canara Bank

The bank is the 4th largest in the country when it comes to number of branches, number of employees and the amount they fork out for each high ranking employee. As of this moment, they have 2532 branches throughout all the states of India.

Bank of Baroda

The bank of Baroda is the country’s 5th largest bank, with over 2 and a half thousand branches inhabiting more than 38000 employees, the bank is rightly so, the mainstay of banking in the region of Baroda.

Bank of India

With a combined count of over 2000 branches and over 40000 employees throughout the country, the Bank of India occupies 6th spot in our list of the biggest banks in India.

Union Bank of India

2000 branches, 25000 employees, it is safe to say Union bank of India is the 7th largest bank in the whole country.

International banks present in India

In a country like India, which is rapidly progressing towards economic stability and financial prosperity, numerous firms from different countries try to seize this opportunity.   There are a few International banks that have gained a strong hold in India, namely;

  1. Standard Chartered Bank
  2. HSBC Bank
  3. CITI Bank
  4. The Royal bank of Scotland
  5. Deutsche bank
  6. DBS Bank
  7. Barclays Bank
  8. BNP Paribas
  9. Bank of America
  10. Credit agricole corporate

Export to Europe

By | Banking, Money transfer

Sending or Receiving money to/from your dear ones requires a great deal of concern. So you always evaluate the way you are using. The major issues found in money transfer are time issue, charges/processing fee issue and reliability. There are many ways to transfer money in Europe. Let’s have a closer look on the following ways of money transfer in Europe.

Cash to Cash Method

Walk in money transfer centers are built in order to use for money transfer. The example of such type of center includes Western Union and Money Gram. You just have to provide cash to the center and that cash will be converted into the currency of the destination country and then will be received by the recipient on the other hand.

Through Bank Accounts

For using this type of method for money transfer you just need to have a bank account. You draw out your money from your bank and transfer it into the recipient’s bank account, like Bank Account in Italy. This process can be done on phone by providing account numbers. Wire transfers are also in trend for money transfers but this type of method requires high transfer fee.

Through Credit and Debit Cards

Debit cards and Credit cards are also used for money transfers. If we make use of these in centers like Western Union and Money Gram, process of money transfer speeds up. However it’s not an economical approach because it is expensive as compared to the bank accounts, and for other b2b pay.

Using Prepaid Debit Cards

In this type of method funds are transferred to the destination through prepaid debit cards. The receiver can use easily and fulfil needs through it. But the processing fee in this case may cause you re think over this method for global b2b payments and Export to Germany. The processing fee varies from one prepaid card to another card.

Using Cell Phones

This is to facilitate you that using your cell phone’s browser you can access website of money transfer. There are different applications available for money transfer with the progress in technology sector. For example you can use Pay Pal account or you can use Western Union account for funds transfer according to your feasibility.


B2B Transfer Fees

By | Money transfer, Outsourcing: an original view

In the corporate world, there are two types of deals, namely B2C and B2B.


A B2C transaction, or simply, a business to customer transaction is exactly what it seems. It is the transaction that takes place when a certain business deals with a particular person or a group of persons. These “dealings” can be anything from selling and item, or buying rights to a book, providing services or requesting services. Simply put, these are the types of transactions that are conventional and comprehensive. B2C transaction does not necessitate any 3rd party involvement, because the main objective of the business is to deal with customers.


A B2B transaction, or in other words, a business to business transaction is a term that is used to describe the dealing between a firm with another business in times of procurement. As in, consider a firm, “A”, that manufactures shoes, needs the raw material to build the shoes from. In such times, they contact a third party (referred to as third party because they are not one of the pillar of basic business transaction, i.e. Businesses and Customers). The other business (that works to collect leather), “B”, deals with “A” and supplies them the necessary materials. Of course, B2B transfer fee is involved.

Now these business might be far and wide throughout the world, so b2b transfer fees vary, hence the concept of monetary exchange plays its hand.

FX spread

FX spread, or, “Foreign Exchange Spread”, is the difference between the prices a trader receives when he sells a currency to the market, with the price he has to pay to buy currency from the market. This spread, assists massively in determining the value of one currency in a country that it is not native to.

SEPA Payments

SEPA payments are a great way to settle B2B payments throughout Europe, since it is free. All it takes is the creation of a European account with B2B pay, this gives you the facility of sending euro payments in and out of Europe for not even a single dime.