How to Make Fast Cross-Border Payments

When expanding your clientele abroad, one key consideration is setting up bank accounts in the countries where you plan to operate. Establishing traditional bank accounts worldwide can be challenging, with lengthy setup times and extensive paperwork. Also, transactions can take up to five days to complete, and the fees are often high. 

However, there’s a new approach to making cross-border payments fast, seamless, and affordable for freelancers, remote workers, professionals, and anyone needing quick and easy international transactions. This is all possible with one account: the Geegpay multi-currency bank account.

What is a Geegpay Multi-Currency Bank Account?

A Geegpay multi-currency bank account is your real online bank account, accessible wherever you are through the Geegpay app. You can instantly generate bank accounts in various currencies and provide these to your clients, employers, or loved ones to receive payments in their currency. It works globally, offering you access to international banking services wherever you may be. Whether you’re relocating, travelling, or working remotely, you’ll have instant access to your funds, and no longer need to rely on others to convert or receive funds.

Why Open a Geegpay Bank Account?

The Geegpay multi-currency account addresses the main challenges of speed and fees in global payments. It enables fast and affordable money transfers across borders, seamlessly connecting accounts managed by different banks.

One significant advantage of the Geegpay multi-currency bank account is that it operates under the regulations of the currency’s originating country. For instance, a Geegpay USD account is a US bank account controlled by US regulations, unaffected by changes in your local country’s policies.

If you’re looking to generate revenue in more stable currencies like the US dollar, the Geegpay account is ideal. Keeping funds in local currencies, which can be unstable, is less appealing.

Geegpay also tackles the issue of fluctuating exchange rates with transparent currency conversion. You can see the rates before initiating the conversion, and there are no charges for converting currencies.

Creating a Virtual Dollar Card on Geegpay

Geegpay also offers a virtual dollar card feature, allowing you to create up to two USD virtual cards. These cards work on all global platforms. You can use them to shop online and pay bills and subscriptions. Geegpay cards are 3D-secure to protect you against fraudulent transactions.

How to Open a USD, EUR, GBP or Local Bank Account Online with Geegpay

  1. Download the Geegpay app from your mobile app store. It’s available on the App Store and Google Play Store.
  2. Complete your verification by submitting the required documents, such as your ID card. This process can be completed in as little as two minutes.
  3. Access your dashboard and create your account once verified. Tap the accounts button, select ‘create new’, choose the currency you want, and your bank account will be generated instantly in your name.

How to Make Cross-Border Payments with Geegpay

Making cross-border payments with Geegpay is easy. Just follow these steps:

  1. Tap the ‘send money’ button.
  2. Tap ‘add a new recipient’ and select the transfer method (bank transfer or mobile money).
  3. Add the recipient’s details, choose the account to send money from, enter the amount, and view the conversion rate.
  4. Add the transaction purpose, click next, and then send money.
  5. Enter your password to complete the payment.

To receive money, go to ‘Accounts’, choose the currency account you want to receive funds in, and tap the share button to share the account number with the sender.

For a list of supported countries, click here.

The Geegpay multi-currency bank account addresses the major challenges of cross-border payments, including transfer speed, transaction costs, reconciliation, and convenience. It’s the perfect solution for your international payment needs. Get started today and enjoy fast and easy global payment solutions at your fingertips.