Case Study from Deutsche Bank on Simplifying incoming payments

Case Study from Deutsche Bank on Simplifying incoming payments

Download: n/a

Format: n/a

Type: case study

Provided by: Deutsche Bank

Listed in: Finance, case studies, Multi-currency

This case study has been provided by Deutsche Bank.

Scenario

An international law firm receives incoming payments in from a range of overseas counterparties.

These receivables are paid either into local currency accounts or into their high street bank via a transfer from a local bank.

In the latter situation, the high street bank normally converts the foreign currencies received at their day rate, often without informing the law firm.

By switching to FX4Cash, the law firm only needs one account and simply instructs the sending party with a unique BIC code and reference I.D. to wire the funds into.

The funds received will then be automatically switched to a currency of their choice. FX4cash provides the ability to handle receipts in this way up to a total of 40 currencies.

FX4Cash

FX4Cash is a state-of-the-art platform for cross-currency payments launched by Deutsche Bank in 2008.

It executes foreign exchange payments for many of the world's leading organisations in Europe, North America, and Asia.

Clients can make payments in over 125 different currencies to more than 160 countries from a single account.

FX4Cash provides straight through processing for these transactions as well as extremely competitive FX rates.

Deutsche Bank is the world's No 1 FX bank, executing around one in five of all the world's FX trades according to industry polls *

* Euromoney FX Poll May 2009

Find out more about FX4Cash from Deutsche Bank.