With viable presence around the world, BNP Paribas has one of the strongest retail banking network in the world. The banks primary mission is to change the world with a complete revolution of its banking services.
For instance, the banks impressive and efficient international payment systems has increased its global status in the banking industry.
A review of the banks currency exchange service
Banks have always had a problem when it comes to international payments. Mostly, because there, almost, always has to be a currency exchange service. With that said, BNP Paribas tries to overcome this obstacle by informing their clients of what to expect, and by using the cash management website.
Here, you can find all kinds of solutions to your questions. There is a special segment where you can read all about international payment and currently exchange systems. For example, there are relevant information on: Five easy tips and trick you can use to secure international payment.
When it comes to paying charges, BNP Paribas has you covered. There is a strict set of rules that dictate which route you can take when paying charges.
Shared, (SHA), is the option most often chosen and is also used by Single Euro Payment Area, (SEPA). When transferring money to a European Economic Area, (EEA) country and while using a Payment Services Directive, (PSD), currency the costs of the transaction are always shared. Each party pays their own bank's charges.
Costs paid by the beneficiary, (BEN), in which case the bank deducts the charges from the total amount of money the beneficiary received. Costs paid by the payer, (OUR), when the payer has to add the charges to the sum of money when completing the transfer.
Here are a few ways to make an international payment at BNP Paribas:
Normal transfer: takes three working days after the placement date.
Urgent transfer: takes place on the same day, as the placement.
Payment by bank cheque, which can be either sending the amount to the employer or sending it directly to the beneficiary. Cost, â‚¬7,50.
Confirmation of the international transfer, in which the receiver gets notified that the transfer took place, either by phone, fax or e-mail. The whole process will cost you just â‚¬10.
Transfer with memo date: where the payer sets a specific date for execution of the payment (up to 180 days in advance).
Moreover, BNP Paribas has something called a letter of credit, in short, this is a way to secure your international payments. It is a guarantee that the beneficiary receives the right amount of money, at the given time. When the payer cannot pay the sum of money, the letter of credit ensures that the bank will pay the money. This comes in handy when dealing with international payment.
Furthermore, Connexis Cash and Connexis Trade are the online branches of BNP Paribas. Connexis Cash is way to see, and control, your every account, all over the world, with a full range of international services. Connexis Trade is the management of your international trade transactions, which allows users to watch their payments live, and 24/7. Thanks to data encryption, Connexis Trade and Connexis Cash are a secure, simple, low-cost, flexible and efficient way of online banking.
So, why BNP Paribas?
The big question we ask here, is why? Why should you choose BNP Paribas? But to answer that question, we have to ask another. Why not? BNP Paribas is the world's leading bank, with more than 75 countries under their belt, and winning the title of world's best bank in 2016.
Moreover, BNP Paribas works with something called a gpi, or global payment innovation. A network thought of by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), to bring more transparency to international transactions, together with increased speed and the ability to track your international payments.
Others in the market
Of course, there are other related service providers in the banking industry, and they might even be cheaper, but those businesses are for sending small amounts of money to family and friends around the globe.
If you want a large international transaction, you need the reliability of a bank like BNP Paribas. The services they offer, cash management, a letter of credit, Conexxis Cash and Conexxis Trade, gpi, etc. are a necessity when talking about large amounts.
Choose real business and efficiency in banking. Choose BNP Paribas Bank.
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