B2B Cross-Border Payments

Posted by Olympia CGP on 3/2/21 9:32 AM

With the growth of globalization, the need for effective and secure payment facilitators to provide seamless cross-border payments at a large scale has never been greater.

What is a Cross-Border Payment?

A cross-border payment is a transaction in which funds are sent from an account in one country to a recipient in another country. As most senders and receivers do not share common banks or ledgers, these transactions involve a series of intermediary transactions which are often slow, expensive and time consuming.

The Olympia Advantage

Olympia strives to provide our partners with custom solutions to make your corporate global payment process faster and more efficient while reducing risk.

Benefits of Using a Trust Company VS Your Bank

  1. 100% Secure
  2. Personalized one-on-one service
  3. Easier payment process
  4. Cross-border convenience
  5. Access to 100+ currencies
  6. Risk management
  7. Transaction transparency
  8. Fast and/or no fee payment options
  9. Custom solutions with a variety of FX products

Which Payment Method is Right for Me?

With so many payments types available, it may be challenging to decide which one is the right one for your business. Our Account Managers look at your time frame, the country you are looking to send or receive your funds from as well as the currencies in play. Some payment types can be processed the same day while others may take a few business days but are free of charge.

Compare Olympia’s payment & settlement types

 

Cross-Border Payment & Settlement Methods

Method Description Processing Time Fees Applicable Currencies
PAD-ACH PAD-ACH payments are an efficient and cost-effective method to electronically transfer funds to a US-based USD account. 1-3 business days No applicable fees USD
PAD-EFT A PAD-EFT is a convenient way to move funds between accounts or to send quick payments to your beneficiary's account within Canada. 1-2 business days No applicable fees CAD & USD
Wire Payments

Wires are a quick and secure global payment method, typically sent via the SWIFT network.

1-4 business days $15 per wire

All currencies offered by Olympia.

See full list

Bank Transfer A bank transfer is a reliable method to transfer funds from your Canadian based account to one of ours. Within 1 hour No applicable fees CAD & USD
Bill Payment Bill payments are a quick and secure method to pay for your transactions via online banking. Next business day No applicable fees CAD
Wire Settlement Wires are a quick, secure and reliable way to settle a transaction from anywhere in the world, either at a branch or via your online banking.

Within Canada and the US - Same day

International  1-4 business days

Wire fees are charged at the banking level.

Learn more

AUD, CAD, CHF, CNH, DKK, EUR, GBP, HKD, JPY, MXN, NOK, NZD, SEK, SGD, TRY, USD & ZAR
Pre-Authorized Payment PAPs allow automatic payments to be debited from your CAD or USD bank account on a transactional or one-time basis.

1-3 business days

No applicable fees CAD & USD

 

*Note - information in this table is subject to change. See the full list of payments & settlement methods and the corresponding details.


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Speak with an Account Manager today to get a consultation and/or a quote.
Local: 403.770-6350 | Toll Free: 1.866.752.7135 | Email: cgpinfo@olympiatrust.com

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