| Situation
An independent record label was beginning to use a leading online
merchant for direct sales of its product line internationally.
The record label was required to open numerous international bank
accounts to accept incoming payments from the online merchant
in each country where there were sales. Opening and managing the
international bank accounts was costly and inefficient. Furthermore,
most of the banks provided little control over the exchange rates
the record label received. Ultimately the international bank accounts
significantly eroded the profits gained from exposure to these
new global markets and took valuable time away from the business.
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Solution
Ruesch accepts incoming electronic funds transfers (EFTs) directly
into our worldwide network of correspondent bank accounts. Whether
the incoming funds are sent directly from a Ruesch client or a
third party, the procedures are simple and flexible. Rates of
exchange can be locked in before the funds arrive or after confirmed
receipt. Best of all, if the market conditions are not favorable
when the incoming funds are received, Ruesch can monitor the market
to help companies make the conversion with a more profitable rate
of exchange. |
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Outcome
The record label began using Ruesch's correspondent bank accounts
to accept its foreign currency payments. It has also used an array
of Ruesch market monitoring services to secure favorable rates
of exchange and enhance its profit margin on these foreign transactions.
The convenience and flexibility of these services has enabled
the record label to expand its client base to Canada, Europe,
and Asia. |
