EQGlobal offers extensive reach through our partnership with major global banking partners.
The use of Automated Clearing House (ACH) channels (like UK BACS and US ACH) means that EQGlobal's solution minimises both costs and delivery times.
Error rates are drastically reduced by leveraging direct clearing systems in as many markets as possible, which also reduces wire fees and intermediary bank charges. EQGlobal supports local currency ACH payments to 42 countries in 24 different currencies.
EQGlobal uses SEPA standards for Single Euro Payments Area (SEPA) channels to further minimise costs and delivery times for payments in the Eurozone. Whether making cross-border euro payments or converting to or from euros, organisations will benefit from less expensive, more efficient and faster payment transfers from one SEPA country to another.
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Find out more by contacting us.
Wire transfers are the traditional method of sending money abroad.
In many cases, a wire transfer will still be the fastest way of moving money internationally. It is an ideal option for one off payments or when you need to make payments with limited notice.
Secure, transparent and fully traceable, standard wire transfers take two days and are currently available to 180 countries in 133 currencies.
Urgent wires, or urgent funds transfers, can speed up the wire transfer process to more than 45 countries in 27 currencies. Urgent wires are available on either a same-day or next day basis, subject to a number of factors.
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Find out where we can pay standard and urgent wires to by downloading our services list.
We offer same-day and next-day funds transfers on a commercially reasonable basis. The ability to provide credit to the beneficiary bank on value date is subject to a variety of factors, including but not limited to, receipt of instructions by applicable cut-off time, proper funding, sufficient credit, ability of beneficiary bank to receive electronic funds transfers, and intervening holidays and non-business days in country of currency. Funds transfer instructions requiring repair may be delayed.
If you operate across borders and need to reduce the risks associated with currency fluctuations, then forward contracts are the way to do just that.
A forward contract is an opportunity to secure a long term preferential rate; it is an agreement to buy or sell a set amount of foreign currency at an agreed rate in the future.
Forward contracts allow you to lock in exchange rates, ensuring that you can make business payments at a pre-agreed rate of exchange in the future. This therefore can protect your profit margin your profit margins against market movements, avoiding currency losses. We offer both fixed and open forward contracts in 26 currencies.
A fixed contract specifies an exact date on which the contract must be settled. This is known as the maturity date.
Fixed forward contracts allow you to purchase your selected currencies and take delivery of your forward currency on a specific date in the future.
An open contract enables you to have a window of time during which the contract must be completed. This enables you to draw down individual amounts as and when required throughout the length of the forward agreement.
Open forward contracts enable the flexibility to draw down the forward currency in a number of instalments over the lifespan of the forward contract; as and when you need it. This is particularly useful when your payment schedule and/or currency requirement is not repeatable on the same date each month.
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Find out what currencies we can provide forwards in by downloading our services list.
Tap into new markets by pricing your goods or services in local currencies.
EQGlobal's platform, PayFac, also incorporates a Multi-Currency Pricing with Guaranteed Rates (MCP) service. This solution allows retailers to not only offer the consumer an efficient and easy way to pay in their local currency but also ensures that the value of the retailer’s product is secured, without creating undue exposure to currency fluctuations and risk.
Key features of MCP:
- Expand into new countries by offering prices displayed in local currency
- Eliminate FX risk
- Increase profits and customer loyalty
- Lock in a profit margin on every customer purchase
Virtual Bank Accounts
Open up your business to the world
EQGlobal enables businesses to transfer money across a market leading 26 currencies with a Virtual Bank Account service. Powered directly by Citi’s Payer ID product, the Virtual Bank Account service is accessed via our smart technology platform, PayFac, helping medium to large sized businesses and institutions navigate their complex international payment networks.
Businesses are provided with an International Bank Account Number (IBAN), which allows them to instantly pay and receive money to their Virtual Bank Account. Additional benefits include automated payment reconciliation that increases the speed at which we can process payments in delivery to the ultimate beneficiary.
- Client and currency-specific IBANs in your business’s name
- Access payment details for each Virtual Bank Account using our proprietary PayFac platform
- Automated payment reconciliation provides improved timeliness rates
- Add Virtual Bank Accounts as and when you require them
- Smart technology and simplified process for efficiency and ease
Sometimes, when paying out multiple smaller amounts of money, a remote cheque is the most practical option.
EQGlobal can print and mail remote cheques to 45 countries and in 30 currencies. Remote cheques are a hassle-free way to make payments when beneficiaries do not have bank accounts or just when no bank information has been provided.
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Find out where remote cheques can be sent to here.