Trading in the foreign currency exchange can prove to be a challenging task that can be highly profitable for those with a trusted broker and good trading strategies. In the past – for clients to spend their profits, they must withdraw them from their foreign exchange brokerage account and transfer the funds to their personal bank account. Many foreign exchange providers are now switching over to using prepaid cards as payout solution primarily due to the fact that it is a much quicker, cheaper and hassle-free option.
Here are some of the examples why a prepaid card is a more efficient solution for payouts:
- Instant Payouts
Prepaid cards offer foreign exchange providers the ability to instantly send money to their investors, giving them access to their funds immediately for use online, in-store or at ATM machines worldwide. Transferring funds to a prepaid card can be integrated into an existing FX platform through an API. In addition, fund transfers can be made round the clock giving you a truly competitive edge when it comes to customer retention and satisfaction.
- High Load Limits
Not only does prepaid cards enable your clients to utilize their foreign exchange profits instantly, there is also a high load limit for the card itself. Some prepaid card providers allow load limits as high as USD 50,000 giving your client a truly enhanced spending power when needed.
- Branded Solutions
If you are looking for a solution to streamline your payouts management, a prepaid card could be an ideal payout solution that suits your needs. With deliverables that include mobile applications, multi-lingual support, IVR/SMS systems as well as cardholder and marketing websites. Prepaid cards can be a user friendly, cost effective payout solution for foreign exchange providers.
- Competitive Rates
Prepaid card providers usually offer better rates compared to banks when it comes to payouts, offering an easy, cost effective alternative to traditional bank transfers. These savings add up fast, especially for brokers with regular currency flow. For client facing providers, the savings generated from prepaid cards can be passed on to the clients, offering them added value with no additional cost.
- Easier Payment Reconciliation
Payout management can be done with ease with prepaid cards. Prepaid card providers ensure a high degree of accuracy when it comes to reconciling payment activity. Reconciliation reports record all related events that change the balance of the float account. Load history will also be indicated all the way down to individual card level, making prepaid cards the truly streamlined payout solution for foreign exchange providers.
- Global Acceptance
In most cases, prepaid card accounts can have accessed and used as a form of payment method for; online, in-store or at ATM machines that accepts credit cards. Prepaid cards function just like a traditional credit card and also support bill payment function that enables the cardholder to set up either a one-off or recurring payment. This would allow your investors to spend trading profits in an effortless and efficient manner.
Please visit www.transact24.com to learn more about prepaid cards as your foreign exchange payout solution.