Remitr Global Business Account – Everything You Need To Know

Remitr Global Business Account – Everything You Need To Know

With Remitr, you can make painless payments to anywhere in the world…but did you know we also take the pain out of getting paid? Introducing the Remitr Global Business Account (GBA).

When you sign up for Remitr, you get a FREE GBA which gives  your business access to unique USD, GBP and EUR accounts and routing numbers. It’s like having a local checking account wherever you do business!

So why is that a big deal? Think of it this way – having a local bank account reduces the friction and cost of doing business. It also means you can receive online sales payouts from platforms like Shopify and Stripe without the delays or high currency conversion costs. You get to operate internationally with the ease of a local business.

Here are some of the main benefits:

– Receive from Amazon / PayPal / Shopify / Stripe without delays.
– Receiving payments against an invoice? Have your customers pay via ACH directly into your Remitr GBA.
– Receive and hold payments in USD, GBP and EUR.
– Transfer funds from Remitr GBA to your own bank account in 1 day.
– Save up to 2% on currency conversion costs.
– Save on wire transfer receiving fees every time.
– Avoid incorporating as a US corp and opening a US bank account (when all you want to do is receive payments in the USA).

The GBA Difference

Here’s a quick breakdown of the main ways in which the Remitr GBA differs from a standard foreign currency account typically offered by banks:

Global Business Account Difference

Who is GBA Built For And How Does It Work?

GBA is ideal for eCommerce stores, Exporters and SaaS companies that are frequently making or receiving payments abroad.

For eCommerce Stores

If you run an eCommerce Store that gets paid for online sales via Amazon, PayPal, Shopify or Stripe, you can route payouts directly to your Remitr GBA. These funds can then be withdrawn to your bank account at conversion costs that are up to 2% lower than bank rates.

You also control when you convert currencies. You can pay suppliers using the funds in your Remitr GBA, or convert payouts to CAD exactly when you need to. No more forced conversions!

For Exporters

If you’re exporting and have a Remitr GBA, you can receive payments from US, UK and European customers directly into your local virtual bank account. You will be notified via email every time a deposit is received.

Funds received into your Remitr GBA can be used to make supplier payments in USD, or converted to CAD and withdrawn to your bank as needed. Alternatively, these funds can be used to make supplier payments or converted between EUR, GBP or USD.

Say goodbye to high currency conversion fees – receiving funds into your Remitr GBA saves you up to 2% on foreign exchange costs.

For SaaS Companies

By giving you access to virtual bank accounts unique to you, the Remitr GBA eliminates the need to set up a foreign corporation just to streamline your international client billing.

If you’re a SaaS company that gets paid for software sales and subscription billing via Stripe, 2Checkout or another gateway, you can simply route payouts directly to your Remitr GBA to withdraw funds. You can also withdraw to your bank account at any time and save up to 2% in currency conversion costs.

Users also have the option to hold payouts in USD to pay employees and contractors. The Remitr GBA puts an end to the pain of double conversion fees when paying your foreign subsidiary company or overseas employees.

Learn More About Remitr GBA

You can check out the GBA section of our website here, or checkout our explainer video below!

If you have any other questions about how we can best serve your company’s payment needs, send us a message or arrange a call with our Business Payments Specialist today! 

Remitr is the better alternative to cheques, bank visits and wire transfers (they all suck). The Remitr Global Network allows fast, often 1-day, business payments worldwide. Remitr also offers businesses a free Global Business Account for receiving online sales payouts in USD, GBP and EUR – all without the bank fees or the delays.

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