If you have a business that needs to make a lot of money transfers, a money transfer service may be exactly what you need. Money transfer services simply allow you to transfer money from one business (yours) to another. Most business owners are not overly-familiar with how the money transfer process works, so using a company to do it for them means everything runs a lot more smoothly and they get the best deal possible from the transaction.
Most of the time, a wire transfer will be used to transfer money from one business to another. This is both the fastest and most secure method of payment. The company will let your bank know how much you want to transfer and will provide them with the details of the company you are sending to.
Your bank will then contact the other company’s bank in order to bring the payment into action. This will be done in a highly secure manner. Generally, the receiver will receive the money within no more than 3-4 business days.
You should note that how much this process costs you will depend on which country you are sending to and how much you are sending, but your money transfer company will advise you on the best ways to reduce the costs. This is one of the main reasons businesses choose to use specialist companies for money exchange.
At Pure FX, we provide a money transfer and currency exchange service for large businesses, giving you the ability to easily make money transfers to other companies without the hassle of doing it on your own.