Always think of the future and manage your currency risk
Future Payments provide the convenience of billing clients a fixed U.S. dollar cost for invoices from foreign associates. This feature not only helps provide greater control, but also eliminates the need to re-bill clients due to exchange rate fluctuations.
Talk to a legal global payments expert on how Future Payments works!
REDUCED FEES ON YOUR RECEIVABLES
When law firms invoice foreign clients in USD, the process can be costly and time-consuming at both ends. A foreign client must factor in the daily exchange rate and bank fees when settling the bill in US dollars. While you’re charged a standard wire fee regardless of the amount received. These unnecessary costs add up over time, however Western Union Business Solutions can help you save on fees on selected incoming foreign invoices.
Current Process - A costly way to invoice
Your firm receives a UK client’s payment of $1,000 USD and pays a processing fee.
How writing paper checks can tie up a company’s cash flow
Sending a check be 10 times more expensive than other electronic methods like an ACH payment.
How does your business process invoices? Each month companies make countless payments to clients, vendors, suppliers and more groups all around the globe. Despite advancements in banking, including the use of ACH and wires, issuing paper checks is still a widespread practice. For some bills, the value of each payment is low, but the frequency is high. This means companies must produce a large volume of checks, some of which are valued at very small sums.
This practice persists across a number of industries, including music royalties, intellectual property law and more. Often these types of businesses must produce checks for global recipients who require payment at frequent intervals. Recently, artists took to social media to s...
More Information » business.westernunion.com/en-us/global-payment-sol...
VP – Legal Vertical Global Payments
Western Union Business Solutions
United States
