It’s always a surprise to companies when they attempt to pay an international vendor and learn that their local bank isn’t prepared to do business across international borders. And if their bank does handle it, the transaction and currency exchange fees are significant. There are ways to reduce the cost of currency exchanges and set up bank accounts in multiple countries without having to create a business entity in each country.
This podcast is focused on international payments and currency risk management and features our guest Laura McLoughlin from AFEX, a global leader in international payments and currency risk management.
Some of the questions answered in this podcast include:
What are the biggest challenges companies run into when doing business abroad related to international payments and currency management?
How do you handle quick payments in emergency situations?
How do companies such as AFEX work and how are they different from banks?
What are the costs as compared to traditional banks?
Are you required to set up a business entity in a country in order to pay suppliers and partners?
How can companies manage currency fluctuations?