BCR Publishing
We are the leading provider of news, market intelligence, events and training for the global receivables finance industry.
Working with industry leading organisations, experts, governments and universities, BCR Publications delivers expertise in factoring, receivables and supply chain finance to a global audience.
BCR has long been a beacon of innovation and excellence in the realm of receivables finance, playing an instrumental role in shaping the industry’s international landscape. Through its comprehensive conferences, insightful publications, and thought leadership, BCR has facilitated crucial dialogues and connections among industry professionals, driving forward the development of receivables finance globally.
Follow BCR Publishing
Free passes
For corporate treasurer roles/functions!
Send to Receive: Money Transfer Timings Explained
07-05-2020 | treasuryXL | XE |
One of the most common questions XE receives is, “How long does a money transfer take?” As much as XE wish they could immediately come back with a definitive answer, there’s no one-size-fits-all answer for the length of time between you hitting “Confirm transaction now” and your money transfer arriving at its destination.
In general, your transfer will be completed within 1-4 business days. The reason for this range is because no two transfers are alike, and the details of your transfer—such as how you’re paying, where you’re sending your money, and the currencies you want to exchange—can all impact the length of your transfer.
Who is Transferring
XE requires you to provide additional documentation before you can make a money transfer. If they need this information from you, don’t worry: they will reach out to you by email to let you know what they need from you.
If you get this email: all you need to do is log into your account, click “Upload Documents”, and upload a copy of your passport, driver’s license, or national ID.
It should only take a few minutes, and we’ll let you know as soon as you’re good to go.
Where You’re Transferring
Where you’re sending your money could also have an impact. You won’t need to account for the physical distance your money is traveling (money transfer is a transfer of information), but there’s no guaranteeing how quickly your recipient’s bank can process the transfer, whether your transfer will need to travel through an additional intermediary institution, or what kind of payment method your destination might require. All of these could affect how long it takes to complete your transfer.
When You’re Transferring
You can initiate a money transfer online or in the app 24/7, 365 days a year. However, because money transfers typically run through banks and other financial institutions, they will be privy to these institutions’ working hours. So if you initiate your transfer late at night or on a bank holiday, you might see a small delay.
And it’s not just the banks: check the calendar for your destination as well. National holidays can affect your transfers in addition to bank limitations.
How You’re Paying For Your Transfer
There are three ways you can provide the money for your money transfer: credit or debit card, wire transfer, or ACH payment. The time to receive these payments will vary: both card payments and wire transfers are quick, and typically get your money to use within 24 hours. ACH payments can take a little longer to settle due to the number of parties involved in the payment.
What’s important to remember is that your payment and transfer date will not be kept secret. When you initiate a transfer, we’ll let you know the soonest possible date we can send your transfer.
Here’s what you’d see if you attempted to initiate a money transfer on April 29, at about 5:00 in the evening:
ACH Direct Debit
Wire Transfer
Credit or Debit Card Payment
Even after you’ve confirmed your transfer, XE will still be in touch. They will let you know by email when your transfer has been sent as well as when it’s arrived with its recipient. No matter what, when, where, and how you’re making your money transfer, XE provides you with the best simple, secure, and smooth experience.
Get in touch with XE.com
About XE.com
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multibillion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
Visit XE.com
Visit XE partner page
Source
E-learning Corporate Treasury Management
| 05-05-2020 | treasuryXL |
Pieter de Kiewit, owner of Treasurer Search shares his enthusiasm in an e-learning module about Corporate Treasury. You will learn how you can reduce costs, create opportunities and reduce risks.
Duration of the e-learning module: 35 minutes
Language: Dutch
Target Audience: Financials
Topics that will be discussed:
Start e-learning and login:
Go to e-learning module here.
You can follow 1 module without any cost and for only €995,- for a full year you will have unlimited access to all modules provided on FinanceHub.nl.
Enjoy the e-learning of Pieter de Kiewit and of course we are curious what you think about it.
Cheers,
Kendra Keydeniers
Community & Partner Manager treasuryXL
Corona Bridging Loans (COL) for start-ups and scale-ups
04-05-2020 | by Rowan Hermes | Symbid
Since Wednesday, April 29, startups, scale-ups and innovative SMEs can apply for a special bridging loan, the Corona Bridging Loan (COL). In this blog we briefly explain what the COL is and what criteria a company must meet in order to claim the COL.
Blog is in Dutch language:
Op verzoek van het kabinet zullen de Regionale Ontwikkelingsmaatschappijen (ROM’s) de COL-regeling uitvoeren. De regeling is opgezet omdat veel startups niet in aanmerking komen voor de Noodmaatregel Overbrugging Werkgelegenheid (NOW), bij banken nauwelijks terecht kunnen en weinig voordeel hebben van de verschillende fiscale maatregelen van het kabinet.
De specifieke doelgroep voor de COL zijn startups, scale-ups en innovatieve mkb’ers die overwegend met extern eigen vermogen gefinancierd zijn. De COL is ook beschikbaar voor ondernemers die de afgelopen jaren groei gefinancierd hebben met intern eigen vermogen, maar zij mogen geen bancaire financieringsrelatie hebben (met uitzondering van een beperkte bancaire rekening-courantverhouding).
De verstrekte leningen zijn een noodinstrument, bedoelt om een tijdelijke overbrugging naar ‘break-even’ of een vervolgronde te verzorgen. Het geld mag niet gebruikt worden om andere leningen af te lossen. De bedragen zullen variëren tussen de € 50.000,- en 2 miljoen euro. Bij bedragen groter dan Є 250.000,- wordt er een cofinanciering van 25 % verwacht van aandeelhouders of andere investeerders. Het rentetarief is uniform 3 %. Aangezien er vaak snelheid gepaard is bij overbruggingskrediet streven de ROM’s ernaar om aanvragen onder de € 500.000,- binnen vier tot negen werkdagen af te handelen. Het streven voor grotere aanvragen is drie werkweken.
De criteria
Je komt met je bedrijf naar alle waarschijnlijkheid in aanmerking voor de COL als je voldoet aan de volgende voorwaarden:
Je bedrijf is niet actief in retail, horeca, kleine zakelijke dienstverlening en je bent geen zelfstandig ondernemer.
Je kunt een twaalfmaands-liquiditeitsoverzicht voorleggen waaruit de financieringsbehoefte als gevolg van de coronacrisis blijkt en aangeven hoe je de overbruggingslening voor de komende negen maanden aanwendt.
Je bedrijf viel op peildatum 31/12/2019 niet in de categorie ‘bedrijven in moeilijkheden’.
De lening wordt ingezet voor investeringskosten of werkkapitaal en de financiering voldoet aan de vereisten van het Fresh Money-beginsel.
De jaarrekeningen van 2018 en 2019 moeten beschikbaar zijn, net als het budget voor 2020 voor zover mogelijk.
Je kunt onderbouwen hoe je geprognosticeerde omzet terugvalt door de coronacrisis. De ROM’s kunnen hier een due diligence onderzoek naar doen.
Je moet aangeven welke maatregelen getroffen zijn om kosten te reduceren, waarbij ook het gebruik van andere overheidsmaatregelen meegenomen moeten worden.
Er moet redelijke comfort verschaft worden dat na het eerste jaar aflossing plaats kan vinden en de lening binnen drie jaar afgelost kan worden.
Kijk voor meer informatie, een uitgebreide Q&A en specifieke aanleverspecificaties op de website van ROM Nederland.
Source