To carry out their financial operations, companies need a dedicated bank account, which allows them to send and receive payments related to the products or services they market. Among the different alternatives on the market, one of the most notable is IBAN accounts for companies. Next, we will learn about some benefits of having a dedicated IBAN account for businesses.
Expanding market reach
Dedicated IBAN accounts are an important financial tool for companies, as they allow them to make transactions in various countries and incorporate a series of codes that identify their bank account internationally. For example, multi-currency IBAN accounts allow us to carry out transactions in more than 30 currencies, and around 150 countries have adopted this innovative financial system, which translates into the possibility of expanding our market reach and reaching new customers.
Improve financial management
Dedicated IBAN accounts help improve the financial management of the company since it allows companies to have better control of cash flow because, through the use of this financial tool, companies have better access, monitoring, and maintenance of records or movements of their assets (income and expenses), thus offering the possibility of managing periodic projections of money flow, which will allow them to minimize or avoid the possibility of running out of capacity for payments.
Protect identity and responsibility
Dedicated IBAN accounts help protect identity and personal responsibility. With this type of account, companies can separate finances or movements from other accounts. Additionally, businesses can assign a dedicated IBAN account for some type of international transaction, make scheduled bill payments, or pay taxes.
Dedicated professional advice
Companies need financial services that adapt to their needs to continue their growth. At this point, Fintech companies that offer dedicated IBAN accounts stand out since they help companies by providing them with tailored professional advice, which allows them to develop and train on different aspects: regulatory compliance, platform management, permits, etc. In the case of Pilsenga, in addition to providing dedicated IBAN account service for medium-sized companies, it also provides its clients with dedicated managers 24/7.
High level of security
Dedicated IBAN accounts for businesses offer a higher level of security than traditional accounts as they allow businesses to separate their accounts by currency or segregate their funds, which is beneficial for businesses dealing with multiple currencies, FIAT money, or cryptocurrencies.
Another point to take into account is that having the IBAN code minimizes any type of error in transactions or reduces risks of fraudulent activity that generally affects traditional bank accounts, which increases the level of security of the company’s transactions.
Regulatory compliance
Dedicated IBAN accounts are financial tools that help with regulatory compliance. This type of account provides a transparent and auditable record of the company’s transactions. Dedicated IBAN accounts also help companies keep their systems updated periodically, especially in accordance with industry regulations, making them indispensable tools for companies to operate effectively in the regulatory environment.
Faster and more efficient payments
Dedicated IBAN accounts help significantly improve the speed and efficiency of domestic and international business transactions. Through their unique identifier, the system guides funds directly to the desired account without the need to set up and maintain bank accounts, which is common in other regions.
What do you think about this topic? Do you want to know more about the dedicated IBAN account service for companies?
If you are interested in Pilsenga products or services (including dedicated IBAN accounts), you can contact us by visiting the following link.
