Cambridge, as one of the largest non-bank payment specialists, provides our clients the expertise and efficiencies of reliable and consistent payment delivery in over 140 currencies.
Cambridge maintains strong relations with global banking partners, which means your payments are delivered in a timely manner through our streamlined payment processes. We offer various payment and funding options based on the urgency of your payments, and to enable maximum costs savings.
One of our most reputed methods of making payments; it enables a client’s clients to receive funds promptly. Cambridge is also a non-bank member of SWIFT which will give clients the ability to receive wire confirmations through Instant MT103.
A company that is engaged in international trade may make hundreds of payments each month to overseas clients, suppliers, employees and shareholders. International ACH (automated clearinghouse), a service similar to domestic ACH, may provide substantial cost savings to such firms.
IACH is an electronic funds transfer network that enables participating financial institutions and their clients to send electronic payments. Domestically, there is one clearing system, with standardized settlement times and initiation formats. In addition to potential cost savings, international IACH can:
- Be a tool to negotiate better payment terms with vendors.
- Provide better cash flow projections.
- Eliminate the necessity of maintaining multiple country specific payment formats.
- Combine payment categories (payroll, accounts payable and royalties) into a single payment file,
- Integrate with an enterprise resource planning system or in-house treasury system, providing a single-point of data entry and a single vendor or payroll master database to maintain.
Foreign Bank Drafts
Alternatively, send your payment via a bank draft drawn on a financial institution in the country of the currency.