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Remitr Global Business Account — Free, virtual $, €, £ bank accounts for small businesses
Remitr Global Business Account (GBA) offers USD, GBP, and EUR accounts, that slash the cost of international sales. GBA is designed for eCommerce stores, Exporters, and SaaS companies that get paid by customers abroad, or via platforms like Stripe or Amazon.
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Replies
@nikhilwason it is primarily to help you receive funds from US/UK/EU, avoiding expensive currency conversion with the receiving bank and eliminating wire transfer fees that are paid on both ends. You can also use Remitr GBA to pay suppliers and contractors in other countries - some limitations may apply. Happy to discuss your specific situation on a chat / phone call.
Awesome, congrats on the launch @sandeep_todi and team! Seems like a valuable offering for cross-border businesses.
@goodals Traditional banking tools and payment solutions are just not designed for today's faced paced payments needs. We're doing our best to solve these age old problems for modern businesses like saas and ecommerce. Thank you.
First of all, congratulations @kanchankumar & @sandeep_todi for the awesome product. We get paid in USD in our Indian Paypal account. Can Remitr GBA be useful to us?
@kanchankumar @sangoitejas you can set up Paypal to pay to a US account. If you come across any hurdle while doing this we can certainly help. The US account will be your Remitr GBA account.
@nischalshetty coming from a pioneer like yourself, your support and encouragement is truly amazing. Thank you!
Really amazing for Global teams. Will explore this for our use and also spread the word 😀
@rgupta29 thank you, looking forward to solving your international payments woes
This is my first ever comment on PH; and I’m glad that I’m doing it for a Product by you Kanchan.
Heard a lot of good about it already; you should keep putting it on PH once every 6 months, especially — when the new sessions start and folks go out to other countries for MS/BE; who knows who starts a start-up before they graduate.
Superproduct — Such a practical concept with an awesome execution!
Congratulations on the launch, Sandeep, Kanchan and Team! This can help so many entrepreneurs. 🙌
I have been using Remitr for some time to pay my contractors in India. The best service that I have found. I clearly remember having to deal with my bank earlier for sending international wires. With such a bad user experience, you also ended up paying some $30 for each transaction. God knows how they calculated their FX rates.
With Remitr my life has been so simple. Remitr’s customer support team has been very helpful during the onboarding and KYC verification process. For sending the payments, it gives me the option to select the desired currency. Total win win
I can see Remitr being even more useful in today’s remote work environment
@pseudo_jedi even more than me our customer teams would be so delighted to hear of your feedback. We feel quite passionate about championing business success for our customers and created Remitr for precisely this reason - keeping it fast, transparent and low-cost. Thank you.
So I can use a US Stripe a/c to transfer to my Remitr GBA a/c and then to my local a/c in my country? Quite neat. What are the docs that you require for me to signup?
@sahilk you got it! It's as simple as that. You need basic documentation about your company and ID proof. Do sign up using the link above to get a $100 benefit - this is exclusive to Producthunt. Once this is done our customer onboarding team will be in touch to get you started.
Congratulations on launching the solution for cross-border payment. Cross-border payment has been the biggest roadblock in the internet era of operating from anywhere and serving customers. Good to see Remitr's Global Business Account (GBA) solution for better international banking. 👍
@santoshpanda thank you, much appreciated. SaaS and Ecommerce businesses are global by nature. Unfortunately, payment systems are not and Remitr GBA is here to solve that.
@shalinjain27 thank you for your encouragement.
SaaS and SMBs are global by nature, but unfortunately payment systems are not and Remitr GBA is here to fill that gap.
@abhineetsays Please sign up, use and and tell us how we could make it better
Hi Product Hunters 👋, I'm Kanchan, CoFounder and CEO of Remitr. I'm a big Product Hunt fan and excited to be part of the community. Thank you for checking out the Remitr Global Business Account (GBA)!
I'd like to give a huge thank you to @Kevin for your support and for helping us to get in the 'Hunt'!
💡The idea for Remitr Global Business Account (GBA) came after several Remitr customers expressed their frustrations over hefty bank fees and being forced to make expensive currency conversions while doing business abroad.
Setting up an overseas bank account is a lot of hassle. Multi-currency accounts are hard to get and have expensive maintenance fees. 💰 This is a struggle that a small business or startup shouldn’t have to go through.
We knew we could build a better banking experience and give businesses more control over their money - so, we did! 🏗️
Businesses can use Remitr GBA to:
* Instantly open accounts in the US, UK and Europe
* Pay and get paid like a local business
* Receive payments without incurring wire transfer receiving fees
* Get paid faster - Remitr payments arrive in 1 business day (compared to 3-7 days with banks)
* Hold multiple currencies and avoid unnecessary currency conversion costs
* Save up to 2% when converting funds
* Simplify global billing without the overhead of a foreign subsidiary company
Here’s an example: When billing your clients in USD and receiving US funds, you likely receive a wire into your primary bank account in Canada. The following week, when you need to make a payment in US dollars, you would need to convert currencies again. You're getting dinged by bank and fx fees TWICE for no good reason. 💸💸💸
One of our customers, who was among the first to start using our GBA, has already saved more than $1400! 👀 🎉
Finally, thank you all for checking out GBA. Feel free to let us know if you have any questions/comments. ❤️
@kevin @kanchankumar Money saved is money earned. I already know a couple of friends who can benefit from this. All the best!
@saurabh Thank you so much! Int'l banking was never designed with SMBs in mind. RemitrGBA changes that!
@misbahspeaks True. Remittance industry has been focussed on consumer money transfer for a long time!
High time small businesses started reaping the benefits of technology for simplifying Int'l payments.
@misbahspeaks thank you for your kind words. With Remitr Global Business Account, startups and small business owners get access to fast and low cost payments without the needing negotiating power which is normally available only to large enterprise.
Good luck guys. Always been a believer in what you guys have built. you solve an incredibly big unaddressed pain point.
@vivekk Thank you! Any one who runs a business with customers, suppliers and staff overseas has long been hostage to archaic banking system. We are changing that!
Congratulations on the release, Kanchan, Sandeep and team!
It’s interesting how we often don’t think about such problems until after we have to deal with them. This will make lives of SMBs in eCommerce / DTC and related businesses, easy.
Does it also help freelancers around the work get paid and save time and money? I see that as another large set of people.
@praval yes indeed we address this specific problem of paying freelancers across the world. It's not only low-cost but also ensures they get paid within 1 day. Often times freelancers are paid smaller amounts (< $500) but need to be paid more frequently (several times a month).
Due to the cost of paying them, freelancer employers and platforms defer payments till it crosses a threshold. With Remitr the cost of paying them becomes so low that you can pay them several times a month instead of accumulating their payables. Win-win for everyone.
Stilt