There are various ways to export money to Germany. When you are in trading business you have to face situations like having an issue in getting a bank account in foreign land, approving of other party’s default condition and opponent’s reliability. Banks have their subsidiaries in different countries and have smooth relations with foreign banks to facilitate a trader and businessman with money transfer, and global b2b payments.
Ways to transfer
Open account: in this type of money export, goods and services are delivered before the payment is made. Export working capital financing, government guaranteed export working capital programs, export credit insurance and export factoring are few techniques of trade financing. These techniques are helpful in mitigating the non-payment risk.
Documentary collection: sender and receiver’s banks are involved in authorizing the money transfer. To export money to Germany, remitting bank that is exporter’s bank allows payment collection and sends all the necessary documents to collecting bank that is importer’s bank. So money exports through banks in this funds transfer technique. Documents are involved in it like document against payment, document against acceptance specifying the amount and time of payments. The drafts of such kind are reasonable as compared to get letter of credits.
Cash in advance: to avoid credit risk, being an exporter of money you must opt for cash in advance. In this payment is received before the goods are delivered or services are rendered. Wire transfer, credit card and payment by check are the three basic methods of cash in advance. Wire transfers is a trustworthy method of exporting money to Germany.
All the above types of money export to Germany are reliable and good, and equally good for Export to Europe. People exercise different techniques of each method to make sure that they get what they want. However, cash in advance is the type that attracts least buyers. Paying in advance invoke various questions about the credibility and reputation of the exporter.
Choose a wise method and technique of money export to Germany to make sure you don’t have to suffer a loss. Money matters are crucial and require great thoughts, skills, intelligence, experience and instincts to make a right decision.