Everimpact manages most of its payments in foreign currencies, with 90% of its revenue coming from international sources, particularly outside the Eurozone, including Japan, the UK, and Norway. The company also sources components globally to manufacture its sensors.
Mathieu Carlier, co-founder and CEO, faced significant issues with international transfers at his traditional bank:
- Transaction fees for SWIFT transfers
- Time lost and focus diverted in adding new beneficiaries
- Lengthy 48-hour wait to add new beneficiaries
- Telephone validation required for beneficiaries outside a short list of 6 countries
These issues are now resolved with Memo Bank.
(1) No transaction fees at Memo Bank for SWIFT or SEPA transfers
Memo Bank’s pricing for international wire transfers is straightforward:
- Issued SWIFT transfers: €0 fixed fees + 0.40% to 0.85% currency exchange fees, depending on the currency.
- Received SWIFT transfers: €5 fixed fees + 0.40% to 0.85% currency exchange fees, depending on the currency.
(2) Instant addition of beneficiaries globally
Thanks to double two-factor authentication (2FA) on a smartphone, Everimpact can instantly and securely add beneficiaries anywhere in the world, enhancing autonomy and security.
Mathieu Carlier also values the ability to streamline and secure payment authorizations with customizable validation rules: “It’s a game-changer for coordination between decision-makers. One partner can immediatly see if the other partner has validated the wire transfer.”
