Corporate bank account with Australian payment service provider
If you operate internationally, maybe now it is the right time to expand to more markets by opening a brand new international business account with a payment service licensed in Australia.
Why is it worth opening a corporate bank account with the Australian payment service?
A single account to help modern businesses operate without borders is here.
Many companies, registered in various world jurisdictions can now have an account made to ease operations with the rest of the world. The account can be open from the comfort of your home or office and various benefits will make your life easier, unlike domestic banks.
First and most important, banking fees are surprisingly low. You will be able to send payments to countries in their local currency (eg USD to US) for free with the proprietary, local payment technology. Australian payment service charges a small margin on FX conversions. Also – there are no monthly fees.
Currencies available are: EUR, USD, AUD, GBP, CAD, JPY, HKD, CNY, SGD and other major currencies.
You can now Skip the bank queues and excessive paperwork traditionally involved in setting up international bank accounts, and not only that: Seamlessly integrate with global platforms like eBay, Shopify and Paypal and start collecting in local currencies.
Are debit and virtual cards available?
For now, only virtual cards are available. You can now give your team a card in seconds to take anywhere with Apple Pay and Google Pay™. Stay in control of employee expenses in a single place, in real-time. A team is set with dedicated logins and cards in a few clicks, with no branch visits needed. Virtual cards are activated instantly so you can make necessary purchases right away with Apple Pay or Google Pay™. Employee cards can be frozen and monitored at any point in time, so the funds of your company are controlled and protected.
It is worth mentioning that The key difference between traditional and virtual card is that virtual ones can be used to make payments in multiple foreign currencies without any unexpected international transaction fees.
What country does my business have to be registered in for opening a corporate account with Australian payment service?
The list of countries acceptable by this payment service provider is long. Please contact us for more information and preliminary check. Although not all offshore companies are accepted, like Nevis, some others, like Seychelles and SVG are accepted. It is also worth mentioning that US companies are more than welcome to apply.