BNP Paribas offers Guidance to Corporates on International Payments

Corporates faced with the challenges of making international payments are offered a free-to-download operational Currency Guide by BNP Paribas.

The guide “unveils the whys, whats and hows of making payments in over 130 currencies,” adds the bank. “The release of an operational Currency Guide providing both practical guidelines and currency knowledge demonstrates yet again our commitment to cash,” says BNP Paribas’ global head of cash management Pierre Fersztand.

The bank notes that in a globalised economy, the international payment scenarios are multiple. “Yet the common denominator between a German-based chemical group with integrated research and development [R&D] facilities in India, a US based chemical group having subsidiaries all around the world and a Belgian chocolate producer with suppliers in Brazil is that sooner or later, they will make international payments.

“All corporates, whatever their size and wherever they operate, will face the challenge of dealing with foreign currencies,” adds head of product management international payments, Wim Grosemans. “And the world of international payments is far from being homogeneous, with complexity as a corollary”.

Indeed, the lack of consistency between local requirements, processes and practices is a major risk factor for organisations and the guide provides corporates with the support they need to best manage such complexity and uncertainty.

Among its contents are the guidelines that must be respected to secure international payments, as well as exhaustive data on more than 130 currencies to meet the needs of both treasurers and those in charge of making international payments.

In addition, the Currency Guide includes a mail contact in case further information is required. BNP Paribas’ cash management officers are also available to provide any extra data and guidelines. Further details on the guide may be accessed
here
.

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