Remitr launches Global Business Accounts for international banking

Source: IBS Intelligence 2020-06-18

Kanchan Kumar, Co-founder and CEO of Remitr

Remitr, a business payments platform provider has announced the launch of Global Business Accounts (GBA), a Canadian FinTech solution for international banking.

Through GBA, Remitr intends to replace the hassle of cheques and wire transfers or the need to set up a foreign account. The solution enables Canadian businesses to pay and get paid internationally like a local business.

Remitr GBA offers:

Open instant accounts to pay and get paid like a local business in the US, the UK and Europe
Faster payment without incurring bank fees
Hold currencies to avoid unnecessary currency conversion costs
No setup or maintenance fees
Streamline billing without managing an international entity
offers exchange rate with a flat transfer fee of $5

“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. At a time where cash flow is king and more and more businesses are moving to digital payments, we’re dedicated to providing a more seamless banking experience where multi-provider friction is a thing of the past,” said Kanchan Kumar, Co-founder and CEO of Remitr.

Remitr Global Business Account (GBA) offers Canadian businesses unique, instant USD, GBP, and EUR accounts and routing numbers to seamless do business internationally.

The company says the solution to be ideal for Commerce stores, exporters, and SaaS companies that frequently make or receive international payments. 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.

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“Representing almost 98 per cent of all businesses, small businesses are the backbone of the economy – from eCommerce, the developing technology ecosystem to importers and exporters. With the effects of COVID-19, liquidity, savings, and the ease of doing business are more important than ever. Losing up to six per cent in bank fees is something most small businesses cannot afford. We are committed to championing small businesses, giving them more freedom and control over their finances,” said Sandeep Todi, Co-founder and CBO of Remitr.

Founded in 2015, Toronto-based FinTech startup Remitr co-founded by Kanchan Kumar and Sandeep Todi, offers business payments an alternative to wire transfers, cheque payments and bank visits. The platform also offers free-of-cost deposit accounts in USD, GBP and EUR removing banking fees of receiving international payments.

Remitr

Remitr launches Global Business Accounts for international banking

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