Remitr Global Business Account - Free, virtual $, €, £ bank accounts for small businesses

Hi Product Hunters 👋, I'm Kanchan, CoFounder and CEO of Remitr. I'm a big Product Hunt fan and excited to be part of the community. Thank you for checking out the Remitr Global Business Account (GBA)! I'd like to give a huge thank you to @Kevin for your support and for helping us to get in the 'Hunt'! 💡The idea for Remitr Global Business Account (GBA) came after several Remitr customers expressed their frustrations over hefty bank fees and being forced to make expensive currency conversions while doing business abroad. Setting up an overseas bank account is a lot of hassle. Multi-currency accounts are hard to get and have expensive maintenance fees. 💰 This is a struggle that a small business or startup shouldn’t have to go through. We knew we could build a better banking experience and give businesses more control over their money - so, we did! 🏗️ Businesses can use Remitr GBA to: * Instantly open accounts in the US, UK and Europe * Pay and get paid like a local business * Receive payments without incurring wire transfer receiving fees * Get paid faster - Remitr payments arrive in 1 business day (compared to 3-7 days with banks) * Hold multiple currencies and avoid unnecessary currency conversion costs * Save up to 2% when converting funds * Simplify global billing without the overhead of a foreign subsidiary company  Here’s an example: When billing your clients in USD and receiving US funds, you likely receive a wire into your primary bank account in Canada. The following week, when you need to make a payment in US dollars, you would need to convert currencies again. You're getting dinged by bank and fx fees TWICE for no good reason. 💸💸💸 One of our customers, who was among the first to start using our GBA, has already saved more than $1400! 👀 🎉 Finally, thank you all for checking out GBA. Feel free to let us know if you have any questions/comments. ❤️

Hello Product Hunt 👋, I'm Sandeep, Remitr CoFounder and Chief Business Officer. We’re thrilled to share our Global Business Account (GBA) with you: a new solution for better international banking. The Remitr GBA allows businesses to have predictability over cash flow 💵 and control over bank fees at a time when it’s most vital to their success. Enabling online sales and accepting payments via credit cards is a solved problem. However, efficiently receiving payments for your invoices, has been ignored and is extremely costly. The vast majority of businesses are not fans of incurring credit card processing costs or exposing themselves to chargeback risks. The fees can become especially large when dealing with invoice payments of $5k or more. Paying international suppliers and/or contract employees means another set of currency conversion costs since they need to be paid out of a local bank account, or an expensive US bank account. This is why we designed Remitr GBA for online sellers 🛒, SaaS companies 💻 and exporters 🚚. We want to help keep sales revenue with the seller. GBA helps businesses focus on their sales 📈, instead of worrying about how much is being carved out on bank fees and currency costs. We’re excited to launch with the Product Hunt community. I’m happy to answer any questions and welcome candid feedback. Do not hesitate to reach out here or DM me on Twitter - https://twitter.com/sandeeptodi FYI - We have an exclusive promotion of $100 off all payments (both local and international) for the Product Hunt community! Sign up using the Website link on Producthunt. *P.S: This offer is not redeemable for cash and cannot be transferred. The offer is the discretion of Remitr and can be withdrawn at any time.

This looks amazing, Kanchan and team. Curious to know what you think of use cases involving freelancers who aren’t registered a business entity. Is this an alternative to using PayPal or a similar service to get money wired in?

So I can actually HOLD in currency of my choice? Is that what you are saying? If yes, this is awesome!

So I can use a US Stripe a/c to transfer to my Remitr GBA a/c and then to my local a/c in my country? Quite neat. What are the docs that you require for me to signup?

I have been using Remitr for a couple of months now and I'm super impressed by the service - easy to use for dealing with international customers and vendors. Great product and also very importantly amazing customer support.

Super stuff Kanchan, Sandeep. This looks amazing. This has wide applications and would love to seed this in our D2C community as well.

Solid execution on user centric value proposition congrats

This is going to bring revolution in the remittance industry.

Excellent initiative team. International banking is extremely cumbersome and bureaucratic. All the best 👍