Account registration in electronic payment system
The procedure for transferring funds from bank accounts to accounts located in another country is accompanied by bureaucratic difficulties. Such as:
• High transferring commission.
• Spending time (refers to the transfer of money in the bank branch, as in this case, the sender is required to provide the bank clerk with his passport data and the details of his own account and the recipient’s account)
• The need to sign forms compiled by an employee of the bank.
To simplify the procedure of international money transfer, we recommend to pay attention to electronic payment systems. Today, electronic payment systems are an effective and easy way to make money transfers from country to country.
What are the differences between electronic payment systems and banking institutions?
• Electronic payment systems do not trade in the purchase and sale of securities.
• In electronic payment systems do not issue credit funds.
• The functionality of electronic payment systems does not allow accepting deposits.
Based on the above information, the main difference is formed – the electronic payment systems do not perform financial transactions belonging to the category of procedures with a high degree of risk, therefore they are protected from bankruptcy and other similar situations.
Advantages of electronic payment systems
• A large number of these resources are members of the world famous electronic payment systems SEPA and SWIFT.
• Customers receive an IBAN account.
• Clients get the opportunity to register a merchant account for receiving electronic transfers by online stores.
• The procedure for registering an account in the electronic payment system does not require the personal presence of the client at the company’s office. Video communication with a resource representative is enough.
• Compared to registration in a banking payment system, opening an account in an electronic payment system takes less time.
• Customers can make financial transfers not only in Euros or US dollars. Financial transfers are also performed in cryptocurrency.
What gives the registration in the system of electronic payments?
• An account holder in an electronic payment system can transfer money in the chosen currency (euro and US dollars) to accounts of companies or individuals located in the territory of any state on the planet (as well as accept chargebacks from individuals and companies).
• The ability to withdraw funds to a plastic MasterCard card.
• Ability to control account status via the Internet.
• The ability to transfer funds in cryptocurrency.
• Obtain an IBAN identifier for your business.