fx paymaster is on a mission to bring fair and transparent pricing to the South African payment market. Most SME’s still use the bank to transfer funds abroad and pay foreign suppliers, despite the hefty fees and poor exchange rates. But its not the only option!
fx paymaster outperforms local banks, see how they do it.
If you’re looking for a simple, transparent service with great rates and low transfer fees then you might want to look at fx paymaster. When you open a business account with fx paymaster you’ll get access to their smart online payment system where you can view live rates, book deals and pay foreign suppliers quickly & easily.
fx paymaster’s online system is designed for SME’s. In that respect, it’s different to most bank systems. It’s not clunky, complicated or confusing, in fact it’s quite the opposite.
It’s no surprise really. Take a look under the hood and you’ll quickly realise; fx paster’s bespoke online system is supported by a slick bit of fintech which has taken years to develop. Using sophisticated API’s, fx paymaster plugs directly into major banks giving the client a seamless payment experience. It’s this kind of processing power which allows them to deal with thousands of customers and make payments faster and cheaper than anyone else.
How do the fees compare to banks?
Most SME’s don’t have the volume needed to negotiate better exchange rates and fees with the bank. They’re not big enough. This is where fx paymaster shines! When you send money using fx paymaster, the transaction is made using a fixed margin of 6 cents from market and you’ll only pay R 250 for the transfer.
Great fixed rates, Great savings !
By comparison, fx paymaster rates are about 10 – 15 cents better than most local banks, which on a $ 50,000 payment, equates to a difference of around R 7,500.
Additionally, at R250 per payment, they’re a good R 500 cheaper than most banks on the transfer fees too.
How does it work?
You don’t need to switch banks in order to use fx paymaster. When you sign up online, they’ll open a free business account in your name at their partner bank. When settling deals, you will only ever fund your own account – fx paymaster will never handle your funds directly.
