Payment system - an alternative to a foreign bank

Payment system - an alternative to a foreign bank

Often entrepreneurs need new methods to make payments. Regardless of the area in which the firm operates, it may be necessary to create an account in the payment system. It may be a beneficial alternative to a bank account. To learn more about registering an account in a payment system, please contact our specialists at IT-OFFSHORE.

The advantages of creating an account in the payment system

The availability of an alternative account minimizes the limits for business activity. The tool in the form of an account in the payment system can be used in case of emerging problems with the bank.

The main advantages of an account in the payment system are the following:

  • Favorable currency exchange rate - you can open a multi-currency account and save funds in different currencies, exchange them at advantageous offers;
  • Contactless card - making purchases remotely, money is safe and payments are made quickly. With the help of an account on the card, you can control your expenses and manage your funds using the application;
  • Opportunity to create a corporate account - you can open a business account remotely in a few days;
  • Prompt execution of international transfers - using the European IBAN account, non-resident companies can perform operations that will be quite secure;
  • The use of accounts is secure as well, and maintenance of protection prevents card fraud. In this regard, many businessmen create an account in the payment system.

Payment system as an alternative to the bank

Now the use of systems of payments is especially relevant among experts in IT. Both an individual and a company may create an account. The most advantageous use of this financial instrument is applicable for self-employed people, IT specialists, consulting companies, logistics firms, as well as those who have permission in the direction of activities related to crypt currency, gambling, etc.

Using an account in a payment system is safe enough to deposit money for goods and services. According to the practice, it may take about a month or more to register an account in a foreign bank; in the payment system it takes about 3 days.

Most often users and partners want to make a transfer easier. When planning to expand activities in a new territory, the payment system is a beneficial alternative to an account with a foreign bank.

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