JPMorgan International Money Transfer? Banks providing International payments- JPMorgan Chase & Co. JPMorgan Chase & Co is one of the leading banks in the US. With revenue almost closer to $100 billion, JPMorgan Chase & Co is dependable as ever. JPMorgan Chase & Co is also the second biggest bank in the world according to its market capitalization. It has over $2.5 trillion assets under their management.
The company had seen a meteoric rise in the last 17 years. Since its inception after the merger of JP Morgan and Chase Manhattan Corp. It is one of the big four of the US banks. JPMorgan Chase & Co has solid credit ratings according to FITCH, S&P and Moody's. JPMorgan Chase & Co also adheres to the Basel-III accords that ensure credibility over the money of their customers.
The currency exchange market is one of the biggest regulated markets in the world today. More than $5.3 trillion is converted on a daily basis for business transactions and other services. That is almost 1/3rd of Yearly GDP of the US. The currency exchange services provided by the JPMorgan Chase & Co are considered as one of the finest in the market. The money transfers department of JPMorgan Chase & Co provides a simple and a fast transaction of currency.
They also offer currency transaction services like exchange and transfer for more than 250 different currencies. They have a wide spread of branches all over the world as they also offer conveyance to convert your currency with ease. The best part is that they have a department to support the currency conversion on most of their branches. The help desk will provide a 24*7 currency conversion support for big firms. (A yearly revenue of $20 million or above).
Currency Services offered by JPMorgan Chase & Co.
Every year, The firms normally face millions of dollar loss in the process of currency conversion. This puts in a desperate need to manage currency on a daily basis. Along with the Forex accounts services JP Morgan & Chase also provides the currency risk management services for their corporate customers usually advice. JPMorgan Chase & Co make sure the currency conversion does not incur too much loss for the firm in question.
They do it by efficiently using currency derivatives as hedging tools. The electronic solution platform provided by JPMorgan Chase & Co is operative 24*7[iii]. The bank also offers the legal and tax advice on FX transactions. And finally, JPMorgan Chase & Co also offers the regulatory services such as compliance and reporting. In overall, the bank provides accounts, transnational and strategic execution services.
Services offered -Comparison?
JPMorgan Chase & Co Money Transfers introduced new service charge % from April the year 2017. They cancelled out all the charges for TCs - Selling, TCs. Encashing and TCs - Foreign Currency just in like the previous financial year. If you receive a different currency on your corporate account, the corporate has 10 days to make a decision[iv]. If they did not take any decisions, after 10 days, the currency will be converted automatically.
The corporate will be contacted by the bank on the day the currency is received. JP Morgan Chase Money Transfer provides the transaction services for free for their corporate customer with a value of over $20 million a year[v]. The bank also offers one of the highest exchange rates on the market against some of the top traded currencies. JPMorgan Chase & Co Money Transfer a stand out in this regard because of the efficient foreign exchange management system they follow.
If we compare their services to the remaining three of the top four banks, we can see that JPMorgan Chase & Co is the clear winner here. The services and the transaction charges are its biggest strength. However, JPMorgan Chase & Co International Money Transfer does charge a price for yearly maintenance of accounts for big corporate firms just like other banks/ financial institutions that offer similar services.
How do JPMorgan Chase Exchange rates compare to other banks?
Comparison of USD to EURO conversion for $1000 dollars and a fee charged?
Bank of America you would get 0.887 and they will charge you $7.50.
Citigroup you would get 0.886 and they will charge you $5.
Wells Fargo & Co you would get 0.885 and they will charge you $7.
JP Morgan Chase & Co offers treasury services at one of the lowest cost in the market compared to other banks. All the Forex transactions with the help of a single platform. The Access foreign exchange software provided by JP Morgan one of the finest foreign exchange platforms on the market right now. Compared to other three of the big four banks. Consequently, JPMorgan Chase & Co International Money Transfer Payments a stand out in terms of currency exchange services for corporate firms.
Company Contact Details
Free Currency Transfers Over £5000
JPMorgan Chase & Co
141 Bothwell Street,