There is a long list of international banks that provide international payment services.
International payments are made online and are available only in Internet Banking for Business (IB4B).The whole process ensures transparency, security, and efficiency to win the trust of clients. The entire cobweb of banking system revolves this philosophy.
The article mainly focuses on currency exchange service the banks provide to their clients. Currency exchange is a business that allows customers to exchange their currencies in hand for other currencies they need. A bank or any other currency exchange company charges a certain amount of fee for providing this service either by taking a fixed commission or adjusting the exchange rate. Currency exchange rates can be either fixed or floating.
The article also takes into consideration the larger payments only rather than small ones for international payments. Such payments are generally exchanged between big players in financial markets or banks.
Globally, a number of banks have been providing their services for international payments. Following is a brief review of Credit Agricole Group which is engaged in facilitating the process of global payments through a network of its banking system:
Credit Agricole Group
CreditAgricole Cards & Payments has been providing quality services to its clients in terms of international payments. They are well equipped to to meet the new challenges in the payment market. The platform fully meets the large remittors' and banks' needs.
They ensures transparency, professionalism, and simplicity. Its services are quite secure and available 24/7. It uses the system regarding the smooth flow of acquisition of Payment and reporting system to ensure their strength and security.
Their latest and innovative system makes large volumes of transactions accurately and swiftly. It processes 1000 transactions a second. It uses its SWIFTNET system to instantly transmit their messages of settlement with other banks.Its banks fully meet the SEPA standards.The service charges are comparatively low.
The time required for transfer of payments takes a reasonable time and their service is comparatively more efficient than other banks. If we use some exchange company for transfer of payments, their would be a slight difference of charges as compared to the service charges which otherwise Credit Agricole Cards & Payments would received. The client has to send, in writing, a request for payment.Their representative contacts and then the other processing begins.
They process a variety of payment modes (cheques, drafts,bank cards, direct debits, and European transfers). They intervene directly in the three stages of the process of inter-bank transactions, which are settlement, clearing, and exchange.
Their Payment Services provide a number of banks for account settlement with clients. The service basically manages flow of payment and monitors the liquidity both on the basis of future prospects and in real time, in the EBA and TARGET2 systems.
Their Payment Services fully assists their valuable customers in their switching to SEPA. Their platform fully meets the legal and technical requirements of new standards.
They also provide more complementary value-added services such as:
Management under mandate: Recording and dematerialization, data issuance, and legal archiving.
Transaction management: They convert account IDs of national bank into BIC-IBAN codes, bank issuance,initialization of SDDs, and so on.
Moreover, they furnish with the best infrastructure required to process flow of payment via access to SWIFTNET and SWIFT.
They provide the most sophisticated and state-of-the-art platforms to instantly access the market. They keep distinction to be the sole financial group in France to offer three production services simultaneously.
Their amazing service offers a 24/7 instant access for transmitting messaging between different banks and exchanging a host of files daily among various banks and their corporate clients through a SWIFTNET system.
They also offer a unique electronic system of managing cash for companies based in several locations of Europe, France, or worldwide.
Their service centralizes financial information on different accounts of their clients to a single centralizing point. It helps them a lot to manage their accounts and cash.
They claim to have processed and centralized the round about fifty six thousand accounts of their clients in 2012, that means they had centralized 2,400 accounts per day. That was really a big achievement, of course.
Their platform has won another distinction that they process more than one-third of retail transactions in France now. They are in a position now to handle more and more transactions together with ensuring security of their clients' accounts and round the clock availability to solve their customers issues. Robustness of their service guarantees their clients an extremely trusted industrial tool at affordable prices.
Credit Agricole Group
50 avenue Jean Jaurès,
92 120 Montrouge,