Currency specialist Moneycorp has launched a global online payment request service, PayCollect. The service is aimed at a wide range of corporate entities, from business associations, auction houses and estate agents to overseas property developers and golf clubs, who need to request and collect money from clients based overseas.
Recognising that consumers and businesses alike are often hit by extortionate bank charges, poor exchange rates and an unnecessarily complicated payment process, Moneycorp has designed a seamless and secure service that enables corporate entities and individuals to access commercial rates of exchange and significantly lower transaction fees than those offered by the majority of alternative systems. An individual or company completing an overseas payment through a bank could face a transaction fee of up to £40 in addition to poor rates for foreign exchange (FX). However, the PayCollect service limits any charges and provides competitive FX rates.
Additionally with the online reporting tools, the payee can view transactional history in real time, seeing exactly when a client has made a payment to them.
Commenting on the implementation of the PayCollect service within her company, Money Mais director, Anne Grogan, said: “PayCollect has allowed a greater transparency of payments with our customers. The simplicity of paying by debit card speeds up the process and removes the need to follow up on overdue payments that would inevitably occur when using banks.”
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