Apparel startups are all about turning creative ideas into stylish clothing and delivering these unique products to customers. To make this happen, these startups usually work with suppliers, factories, and partners from all over the world. This is to meet the demands of sourcing fabrics, producing garments, or shipping products in this competitive world. To manage these international relationships, you will need a reliable financial solution to send money easily. This is where an international wire transfer comes into play.
Before getting into international wire transfers, let us see what a wire transfer is.
What Is a Wire Transfer?
Wire transfers, also known as wire payments, are electronic money transfers. These payments are sent across a network of financial institutions around the world. It is a fast and secure method for sending money domestically as well as internationally. Also, when it comes to the quick transfer of large payments, wire transfer is one of the most preferred methods.
Easy International Money Transfer with the Cloud-Based Platform
As an apparel startup, you may have to source fabrics, threads, buttons, and other raw materials from countries where they are uniquely available and affordable. For example, importing silks from China, denim from Japan, hand-embroidered garments from India, or wool from Italy. These suppliers should be paid on time, or else your supply chain will be disrupted. Also, payments to international shipping and logistics companies for transporting raw materials or finished goods should be made on time.
However, using the traditional methods to pay these suppliers and service providers can delay payments. Moreover, these delays in payments can worsen your business relationship with suppliers as you may have to make recurring payments to them. Also, traditional methods may lack transparency and tracking features, leaving your startup uncertain about the status of your payments. This can cause disputes and miscommunication with your international partners, further worsening the situation.
To overcome these hassles, you can utilize Zil.US for easy and affordable international wire transfers. The platform helps you send wire transfers across borders with a few clicks. You may easily initiate them from anywhere at your convenience. The platform helps you make wire transfers effortlessly from your checking accounts, credit cards, and digital wallets. All you need to provide is a SWIFT/IBAN code, bank name, and bank identifier code, and then payment will be processed.
How to Make Wire Transfers on the Cloud-Based Platform?
- To send a wire transfer, log into the platform and choose a business checking account.
- Then, click the Pay button on the side panel and select the International or Domestic Wire option.
- After selecting the option you need, choose a payee and enter the amount you want to transfer and the necessary details.
- Then, click on Pay, and you will receive an OTP via email or SMS. The transfer will be processed after you enter the OTP.
- You may check the payment status by clicking on View Payment.
Quick and Easy Domestic Wire Transfer
Imagine you just placed a large order for fabric from a local supplier to produce custom t-shirts for a big event. When you use the traditional method to send these payments, it can cause delays. During this delay, your supplier cannot start production, which can ultimately make you miss the delivery deadline for the big event. This can seriously affect your business operations and can cause significant financial loss. Therefore, to eliminate these hassles, apparel startups can send money quickly and securely within the country using domestic wire transfers.
With Zil.US, you can affordably send domestic wire transfers with a few clicks at your convenience. You may make large payments within the same business day using a wire transfer on the platform. All you need is account and routing numbers to make domestic wire transfers on the cloud-based platform.
Manage Finances with Fee-Free Checking Accounts
You can easily manage finances by opening a fee-free online checking account on Zil.US. With these efficient business checking accounts, you can avoid the hassles of traditional checking accounts. The platform’s business checking accounts do not have any maintenance fees or initial deposits. Also, there are no minimum deposit or balance requirements for opening an account on the cloud-based platform.
For an apparel startup with a tight budget or inconsistent cash flow, a fee-free checking account can be a savior. You can also open multiple checking accounts on the platform and manage your finances efficiently. With this, you can easily allocate funds for different purposes like daily expenses, payroll, and taxes. Moreover, separating accounts for various purposes helps in minimizing mistakes and fraud. This is because when there is an unauthorized payment or withdrawal, you can easily find out the irregularities. Therefore, manage all your accounts in a single place and make payments easily using the cloud-based platform.
Conclusion
With Zil.US, apparel startups can easily make quick and easy payments to their suppliers and service providers abroad. For this, the platform provides efficient international wire transfers, which can be made with a few clicks. Other than international transfers, the platform also provides domestic wire transfer options. You can open a fee-free checking account on the platform and manage your business finances easily.
