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If your company is selling
to buyers in the countries listed in the schedule displayed on this page, your sales and
service departments may now offer this alternative payment option.
For non-cash transactions, bank transfer is how 58% of European consumers pay for products and
services.
How does the process
flow?
Once you provide us the
details of the sales transaction (e.g. buyer name, amount and reference
ID) our systems store that information and provide back to you the
unique bank transfer
details; the local bank name, location, account number and
unique reference
number.
You provide this to the buyer who then initiates this domestic
transaction; either via his computer or the method by which his local bank
receives bank transfer requests.
Your system then flags this
transaction as "pending payment."
Every night, our systems
match all incoming transfers with the
unique reference
number
and we notify you of your
collected transactions through daily reporting.
You are then ready to
fulfill the sales order.
What about currency
exchange?
The schedule on this page
lists the countries and the local currencies in which the bank transfer
service is available.
When your company is selling
into these many countries, you could be receiving payment in many local
currencies.
We manage this for you by
converting all collected transactions into US Dollar each day; based on
the exchange rates as posted by
Reuters.
When do collected funds
get transferred to the merchant?
Weekly.
As mentioned above, we
provide you with daily reporting of the collected transactions. Each
Monday morning, we prepare a summary report of the prior week's daily
activity (Monday-Friday)
Funds are released to
Atlantic on Wednesday and transferred to your local bank account on
Friday.
How does the risk compare to
credit card or direct debit transactions?
Because the buyer initiates
or "pushes"
the funds from his account to you, the seller, there is NO RISK OF
CHARGEBACK. This differs from credit card and direct debit
transactions where buyers can dispute whether they authorized to seller
to "pull"
funds from their account.
Next Step?
Call us today at
1-800-503-1972 ext 14 to get started
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