NARRATOR: You’re a U.S.-based company, but your customers are global. You sell from Arizona to Austria… New York to Norway. Selling internationally is easy. Collecting international payments… not so easy.
GAIL: Easy. Are you kidding? This is heavy lifting!
NARRATOR: You basically have two options. One, you can open bank accounts in countries where you have customers. Or, two: you can accept international wire payments. Unfortunately … neither of these options is as simple as it sounds.
GAIL: There’s nothing simple about it! I had to fly over and show my passport just to open one in-country account.
NARRATOR: And with set-up fees and transaction fees and maintenance fees … in-country accounts are expensive.
GAIL: International wire payments can be just as complex and expensive!
NARRATOR: To invoice your customers in their local currencies, you need to calculate the foreign exchange conversion, factor in the fees foreign banks charge, and decide who will pay the fees – you or your customer. U.S. dollar accounts don’t accept foreign currency. It has to be converted to U.S. dollars first. So, U.S. banks charge foreign exchange conversion fees and international wire fees. With all the conversions and deductions, the amount you receive is almost always less than the invoice amount
GAIL: So, the payments are nearly impossible to reconcile … And you have to bill the customer again for the shortage! Customers don’t like that.
NARRATOR: But what if you didn’t need to open in-country accounts or receive international wires? And there were no foreign bank fees or international wire fees? So, the amount you receive is the amount you bill … in US dollars.
GAIL: Really? You can do that? Where do I sign?
NARRATOR: Just sign up for Global Invoice Connect with TransferMate from Wells Fargo. Then – whether you send five or five thousand international invoices a month – you simply create the invoices, upload them in a single file, and you’re done.
GAIL: How can we be done? We haven’t done anything yet.
NARRATOR: The Global Invoice Connect service does the rest. It sends the invoices to your customers around the world. Your customers pay in their local currencies and lock in real-time exchange rates. Global Invoice Connect deposits the full amount you billed into your Wells Fargo bank account in US dollars. And payments received through Global Invoice Connect are irrevocable – just like wires.
GAIL: You mean we can sell to Belgium as easily as to Boston?
GAIL: Reconciling the payments could be easier for our Accounts Receivable department?
GAIL: Absolutely amazing!
NARRATOR: Global Invoice Connect lets you sell globally and bill globally … but collect locally.
GAIL: It makes the world seem a whole lot smaller. And collecting international payments a whole lot easier.
Music up and out