Recently, companies need more and more services to transfer funds to their customers. Some want to transfer money using the SWIFT system, some need SEPA to transfer money, while others prefer to accept cryptocurrency. But what if you need to find the one and only bank that will have everything?

Choosing one among hundreds of offers is not an easy task. When you see advertisements of banks, there are profitable commissions, a wide range of services, and guarantees of a quick account opening. At the same time, it is completely incomprehensible which of this is true and which is an advertising trick. In order to choose a really good bank and not become a victim of marketing, we talk about three main criteria that every business should pay attention to.

Criterion 1. Reliability

Reliability is the first thing you should pay attention to while choosing a bank. Therefore, before opening an account, it is worth checking different banks for reliability. How to do it? First, look at the license of the bank, study the website: what services and opportunities are there, then read reviews on the forums and check social pages.

Banks that opened recently (up to 1 year) also do not inspire confidence, since the reliability of the company cannot be assessed in such a short period.

Also, pay attention to the bank partners. More partners – more reliability.

Criterion 2.  A set of solutions.

Today, banks are ready to become for an entrepreneur both an accountant, an IT consultant, and even a security service that will check counterparties.

But don’t agree to everything at once. It is important to carefully evaluate what services you really need and under what conditions they are provided.

Criterion 3. Reviews and Service.

It is worth looking at reviews about the work of the bank in advance and independently testing different communication channels. For example, check how quickly they will respond to your question by calling the hotline, in the chat on the website and by email. If you do business in multiple regions with different time zones, you will need 24/7 business support.

There are not so many subtleties in choosing a bank for all occasions. It is much easier to get confused in the search for a specific banking product. If you have chosen a really good and convenient bank, you will have all the products you need at your fingertips. A lot of fintech companies are providing banking services that may help your business with cash flow and services that simplify your payment process.

Collect & Pay LTD is a licensed FinTech company that provides cross-border payments for your business. Accept payments from international clients and global marketplaces. Transfer funds to your partners or suppliers anywhere in the world.

Contact us to get information about our services and how to open an account – [email protected]

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Disclaimer : This financial promotion is intended for retail clients. Please note that this information is of a general nature only and is not intended to address the specific circumstances of any particular entity. Also please be aware that this information is not necessarily comprehensive, complete, accurate or up to date. Collect & Pay is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information published by Collect & Pay relates to your unique circumstances. License #AFSA-G-LA-2020-0005 with expiry date of 23.04.2022. Please learn more about the regulatory status of Collect & Pay : www.collectnpay.com.

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