Here's everything you need to know about cross border transfers

International transfers, or also known as cross border transactions, have become a fundamental part of the global business economy. These transactions involve the exchange of money between different countries, they can present different challenges and unique considerations.

In this blog, we'll explore everything you need to know about global transactions, including the key factors you need to consider for your company.

Key Factors in Cross Borders Transactions

1. Regulations: each country has its own regulations and laws related to international transactions. It is essential to understand and comply with the customs, tax and legal requirements of the countries involved in the transactions.

2. Exchange rate: International transfers involve the exchange of currencies from different countries around the world. Exchange rates can fluctuate and affect the value of transactions. It is important to monitor exchange rates and also consider hedging strategies to mitigate currency risk.

3. Costs and Fees: money transfers involve additional costs, customs fees, taxes and bank fees. Remember that these costs must be taken into account, in order to calculate the final price of the transfer and also evaluate its profitability.

Banks often charge additional costs and high fees for international transactions. These costs may vary depending on the country of origin and destination, the amount of money to be transferred and the additional services requested. On average, the main costs associated with these money table transfers can be:

• Money desk fees can range from 1% to 5% of the total amount of the transaction. Direct rates also apply additional charges for items such as currency exchange, the use of financial intermediaries or urgent transfers.
  
  
• Intermediaries and additional costs: money desks often use intermediaries and financial agents to facilitate international transactions. These intermediaries can add additional costs to the transaction, resulting in higher fees for customers.
  
  
• Slow transfers: Cross-Border transactions through banks can take several business days to process, which can be inconvenient in urgent situations.

Zulu is a company that seeks to make it easier for companies to make international transfers, payments to suppliers and collections to customers around the world, with the lowest rate in the market and without commissions. Below you can learn about the costs associated with international transactions between Zulu and traditional banking.

Through digital tools such as Zulu, you can save money on your transactions, since your shipments are carried out quickly and efficiently, and they also guarantee your security, since they use encrypted technology to guarantee the security of transactions, and they also have appropriate regulations and licenses to support their operation

International transactions are definitely an important part of business and corporate finance. However, traditional banks often have limitations in terms of cost, speed and convenience. That's why digital alternatives like Zulu have become increasingly popular.

With this company, companies can enjoy cheaper, faster and easier transactions, making it easier to make international payments, collect from customers and send money around the world. Considering new digital options can be the key to optimizing financial processes and saving resources in international transactions.