The power of global accounts for global business success

A global account is a key financial tool for businesses, startups, and individuals in today’s interconnected economy. It simplifies international transactions, allowing customers to send, receive, and hold funds in multiple currencies.

Whether you’re running an e-commerce store, managing healthcare payments, or exploring international travel, a global account is designed to optimize financial operations worldwide.

But what are its specific applications, and how does it cater to unique industries? Let’s dive into details with supporting insights.

What is international global pay account?

An international global pay account refers to a multi-currency account that enables individuals or businesses to send and receive money globally with local bank details.

Unlike traditional accounts, it reduces barriers like excessive currency conversion fees and long processing times, providing users with access to real-time payments.

According to a 2023 survey by the World Bank, international payments reached $156 trillion. This demonstrates the growing reliance on tools like global accounts to facilitate seamless transactions.

Businesses, especially SMEs and startups, leverage international global pay accounts to:

• Accept payments in local currencies from international customers.
• Reduce hidden fees from intermediaries.
• Manage funds in multiple currencies within a wallet.

The benefits of a global account go beyond convenience. With features like multi-currency holding, real-time currency conversion, and fast international transfers, businesses can save up to 30% in fees compared to traditional banking systems.

What is global payment in healthcare?

The healthcare industry has witnessed rapid growth in cross-border payments, with global payment in healthcare playing a vital role in medical tourism and international patient care. Over 14 million people traveled for medical care globally in 2022 (Patients Beyond Borders).

A global account is a versatile financial solution that empowers businesses, healthcare providers, and even frequent travelers to manage cross-border transactions effortlessly.

A global account allows healthcare providers to accept payments from patients in various currencies without friction.

For example:

Patients traveling abroad for treatment can pay hospitals in their preferred local currency.

Healthcare providers can hold funds in multiple currencies to manage international supplies and partnerships.

A report by Deloitte estimates that medical tourism contributes nearly $100 billion annually to the global economy, with global accounts simplifying payment processes for both patients and providers.

Introduce DNBC Global Account: Your solution to global finance

Whether you’re a startup, SME, or established enterprise, DNBC global account ensures your financial operations remain smooth, secure, and cost-effective in the evolving global marketplace.

Global account creation with IBAN

A global account with a unique IBAN (International Bank Account Number) allows businesses to simplify and speed up payment reception worldwide. Opening international accounts with unique IBANs allows businesses to operate as local entities in multiple regions, ensuring smooth financial transactions.

Whether receiving payments from clients or partners, IBANs guarantee accuracy, security, and efficiency in the payment process, avoiding delays caused by traditional banking systems.

Manage 20+ currencies (USD Included)

Businesses can hold, transfer, and manage funds in over 20 currencies, including popular ones like USD, EUR, GBP, AUD, CAD, and JPY.

This feature provides flexibility in managing international finances without the need for frequent currency conversions.

Additionally, it’s free to transfer funds globally within the system, reducing hidden costs. Holding multiple currencies in a single wallet also minimizes exchange rate exposure, giving businesses control over their fund flow.

Multiple transfer methods supported

To facilitate secure and seamless global payments, DNBC global account integrates multiple transfer methods:

SWIFT network: Enables international transactions across 11,000+ banks globally, with delivery in 2-5 business days.

Domestic transfers: Supports local systems like ACH (Automated Clearing House), RTGS (Real-Time Gross Settlement), FPS (Faster Payment System), and others, processing payments within 0-1 business day.

This ensures businesses can choose the most efficient method for each transfer, whether international or domestic.

Competitive FX exchange rates

DNBC global account supports over 100 multi-currency pairs, enabling businesses to perform real-time currency exchanges at highly competitive interbank rates. This feature is ideal for managing foreign exchange risks in volatile markets.

Businesses can time conversions strategically, minimizing losses and improving cost efficiency. Competitive FX rates not only save money but also enhance transparency, ensuring no hidden fees or unfavorable rates impact international operations.

Avoid costly conversion fees

One of the standout features of DNBC global accounts is the ability to receive payments directly in your customers’ local currencies. This eliminates hidden conversion fees typically charged by traditional banks during international payments.

By holding funds in multiple currencies, businesses can bypass hidden conversions, retaining more revenue and improving overall financial efficiency.

5 FAQs about global accounts

1. What is a DNBC Global Account, and who can benefit from it?

A DNBC Global Account is a multi-currency financial tool designed to simplify international transactions for businesses, startups, and individuals.

It allows users to send, receive, and hold funds in over 20 currencies while offering features like competitive FX rates and IBANs for global operations.

It’s beneficial for SMEs, healthcare providers, and e-commerce businesses operating across borders.

2. How does a DNBC Global Account help reduce transaction costs?

DNBC Global Account avoids hidden conversion fees by enabling businesses to receive payments directly in customers’ local currencies.

It also offers competitive interbank FX rates, reducing the cost of currency exchanges. Businesses can save up to 30% in fees compared to traditional banking systems.

3. What are the key benefits of using IBANs with a DNBC Global Account?

Unique IBANs simplify payment reception worldwide by ensuring accuracy, security, and efficiency in financial transactions.

They allow businesses to operate like local entities in multiple regions, minimizing delays caused by traditional systems. This makes cross-border payments smooth and hassle-free.

4. How does DNBC Global Account support healthcare providers?

DNBC Global Account enables healthcare providers to accept payments in various currencies, ensuring frictionless transactions for international patients.

Providers can hold funds in multiple currencies to manage global partnerships and supplies effectively.

With medical tourism contributing $100 billion annually, this solution is vital for streamlining payment processes in the healthcare sector.

5. How does DNBC Global Account ensure fast and secure transactions?

DNBC Global Account supports multiple transfer methods, including the SWIFT network for international payments (2-5 business days) and domestic systems like ACH, RTGS, and FPS (0-1 business day).

These methods ensure secure, reliable, and quick transactions tailored to the needs of businesses and individuals.