Remitr, a Canada-based business payments platform, announced earlier this week the launch of its global business accounts. Remitr claims that its Remitr GBA replaces the “hassle” of cheques and wire transfers or the need to set up a foreign account.
“Remitr Global Business Account (GBA) offers Canadian businesses unique, instant USD, GBP, and EUR accounts and routing numbers to reduce the friction and costs of doing business internationally. GBA is ideal for eCommerce stores, exporters, and SaaS companies that frequently make or receive payments abroad. Remitr customers can receive and hold funds in three currencies until they need to deposit to their Canadian bank account or transfer to one of the 150+ countries Remitr serves.”
Features of the Remitr GBA include:
- Open instant accounts to pay and get paid like a local business in the US, the UK and Europe
- Receive payments without incurring bank fees
- Get paid faster: Remitr payments arrive in 1 day compared to 3-7 days with banks
- Hold currencies to avoid unnecessary currency conversion costs
- Save money with no setup or maintenance fees
- Streamline billing without managing an international entity
- Avoid poor exchange rates when you decide to convert funds
- Use Remitr’s exchange rate with a flat transfer fee of $5
Kanchan Kumar, Co-Founder and CEO of Remitr, then added:
“GBA provides an end-to-end solution to the payment problems small businesses face, starting with their ability to pay and get paid. Not only does GBA replace untimely and inconvenient cheques, it also cuts out the fragmentation of using one provider to collect payments and another to convert it back to the business’s Canadian account.”
