Make Payments to European Suppliers

Whether your business is just starting out or has established a reputation in Europe, making payments on time is essential to strengthen relationships and build your business.

You can reassure suppliers that they will be paid by using one of the following payment methods:

• Provide a wire transfer in the requested currency to ensure the payment is received quickly and cannot be disputed
• Pay upon receipt of shipping documents sent from their bank to RBC Royal Bank via documentary collection—with this method, you can be sure the goods have been shipped before you pay
• Pay with a draft or money order in the currency your suppliers request (it’s important to note that cheques are used less often in Europe)

Control Cash Flow, Reduce Expenses and Help Prevent Fraud

If your RBC Account Manager has helped you open a bank account in Europe, you can also benefit from the low cost and convenience of electronic payments.

You can use your account to make domestic and cross-border electronic payments in Euros, Pounds Sterling or Swiss Francs.

This will enable you to:

• Predict your cash flow more accurately
• Mitigate fraud
• Increase convenience for employees and suppliers

You can also use electronic payments to pay employees and reimburse them for expense claims in their local currencies.

You can use your business credit card to pay for smaller purchases and for business expenses such as travel and entertainment.

Foreign exchange
RBC Express