How to accept Bank Wire Transfers (SWIFT / IBAN) on your website
I would like to start the present article telling about the difficulties of work with bank wire transfers in the Internet business. Each of us certainly have faced a problem at least once in our life when somebody wanted to send you a bank wire but failed since either the banks refused to make transfers to your country or you had no bank account to receive that transfer. You browsed throughout the Internet searching for such a service however each time you came across some difficulties or all the firms offering such services seemed to be doubtful. In my search for such a service I first of all was focused on reliability and comfort of the operation. Having found Perfect Money I realized that this system meets all the requirements of the modern businessman.
http://www.ecommerce-journal.com/files/images/logo3.jpgFirst of all I was attracted with an opportunity to fund the account with a wire transfer. I needn't buy Perfect Money to make a payment to somebody. First of all I was required to test how the system fit for my company activity and making settlements using only system accounts. I was a little bit surprised when I saw that the minimum amount for wire transfer was $1,000. Probably Perfect Money doesn't want to waste its time for processing of the smaller amounts: Ok, but on your head be it, and I have ordered a transfer to the minimum amount $1,000. First of all I have scanned my passport and uploaded it. "Probably, here is some fraud control," I though and that carried more conviction to my mind that Perfect Money makes only "pure" wire transfers. You should admit that client ID is a good thing in any payment system working with wire transfers. I put all the required data on the sender and the only difficulty I faced was identification of the account which will be user to send money from. However I was sly and provided the approximate data. I can't understand why does the system need that information though probably Perfect Money knows better what does it need.
After that they gave me the details of some bank in Cyprus where I was to send the money. I entered in my e-banking account and sent money directly to the bank account of Perfect Money. Being very busy I completely have forgotten about that transfer and just imagine my surprise when I have found that money in my Perfect Money account. Though, the amount was $8 less. I decided to send a ticket to the customer support to learn why they have written off that $8. The answer came something like within 15 minutes telling that it was a fee of an intermediary bank.
Having received $992 to my account in Perfect Money system I decided to make a payment for servers directly from my account in Perfect Money. I waited a little for the invoice of my hosting provider and clicked on withdrawal by wire transfer. Having received the withdrawal formed I put the details of my hosting provider and waited until my transfer processes. To my greatest surprise in 24 hours I have found that the transaction was completed. And in half a day after that the money was deposited in the account of the hosting company. It appeared that one can make transfers from and to that company very simply and quickly. One more pleasant thing for me was a special payee list allowing me to skip entering the account details of the people listed there.
So, I got only positive impressions of the system's work with wire transfers. The only nuance that embarrassed me was a minimum amount totaled $1,000 that was uncomfortable for the smaller wire transfers however one can use online exchangers, huh? When I was ordering the second wire transfer I was pleased to know that I needn't upload my passport for the second time.
I have transferred the larger part of my turnover to Perfect Money system. I have asked all my Internet partners and contractors to create an account with Perfect Money. And since some of them failed due to some reasons I started just creating the applications for wire transfers and sending my account details with the exact memo and those people sent me money to the account specified. Further I topped up my Perfect Money account. It became a real discovery for our accounting department. All my business activity became pretty easier after the introduction of this system. Moreover, more and more of my business partners find it convenient to work with Perfect Money. Later we decided to replace wire transfers with the Perfect Money transaction to cut time. I have completely forgotten what are such things as calls from bank, invoices, repayments, account closures and other "funs" granted us by the modern banks and the banking system as a whole. All those problems are now addressed by Perfect Money itself but they are true professionals and always successfully cope with the tasks set.
As I can see Perfect Money system can be used in the following business schemes:
You receive monthly payments for the goods/services you rendered on the Internet. You enter the site of Perfect Money and create an application for deposit by wire transfer. Then you send your account details and memo to the person who sends money. You should remind the sender that the description should be exactly the one provided by Perfect Money system. It is very important since that memo will be used to deposit the transfer to you account in Perfect Money system. Thus you may accumulate all the incoming payments in one account. You may not have your bank account and use the details of Perfect Money. The further withdrawals can be made through the partnering exchange services by any of the methods convenient to you.
Payments to any bank accounts
With Perfect Money you may make payments to any bank account. You just need to draw a
withdrawal and specify wire transfer as a withdrawal method. The payee will receive the money within 48 hours or less. You can also ask Perfect Money for a SWIFT via the internal mail that will be a proof to be provided to the receiver.
I recommend you to transfer all the financial streams to Perfect Money system and convince all your partners/contractors to create the accounts with Perfect Money to optimize the settlements in your business activity.
Bank system is too slow and conservative for the modern business. And for that reason many people need to have some system for instant payments. Perfect Money system perfectly fits this kind of payments. If you have a website and you need to receive wire transfers you may turn your capital to Perfect Money and simply explain all your clients how to make deposits in Perfect Money. It's unpleasant that Perfect Money does not offers direct payments via bank transfers in SCI though I believe that in future they will consider the addition of such an option.
Perfect Money works with 2 currencies: dollars and euros. The range is certainly not wide but I sincerely believe that in future their number will grow. A keen attention should be paid to account IBAN number. Also one shouldn't mix the currencies sent. Exchange services also receive huge privileges when working with wire transfers. First of all they obtain a splendid opportunity to work with wire transfers and then to convert that money in Perfect Money and reverse. This is a great alternative to bank system for small and medium exchange services.
Summing up all the main advantages of work with wire transfers via Perfect Money system we got the following:
Opportunity to sent wire transfers and a complete cycle of an economical activity without opening an account. Now you needn't go to bank and to fill a pile of papers in, submit references and certificates and other things linked to the bank activity. Now all this job is done by Perfect Money. It is very convenient and saves time which can be spent to develop the business or to have a rest.
Anonymity
It is very convenient to pay and to receive payments staying undisclosed. Now you needn't provide your personal data to the sender. The recipients will never find the source of the money they received. You run your activity and stay anonymous. The tax collectors will never come to you and ask anything in addition. Now you can always stay confident that your money is save and that the saying "Money likes silence" gets a special meaning here.
Usability
Internet banking is still a complicated thing. Perfect Money has a very convenient and simple organization that is clear to anyone. After a couple of transactions conducted in Perfect Money you will act automatically.
Opportunity for internet service
Internet services which want to accept on their websites bank wire transfers as a payment option for goods and services can provide clients with Perfect Money bank wire account details.
Many languages
I can work with my partners all around the world. They can use bank wire transfers options in Perfect Money on 16 languages interface.
What you think?
