In this blog, let us see how wire transfers on Zil.US help you make vendor payments on time.
Jewelry stores are a prominent presence in shopping centers and along main streets throughout the United States. Behind every sparkling piece of jewelry in the display is a network of skilled artisans, suppliers, and vendors. These entities provide the precious materials and expertise needed to bring beautiful designs to life. If you own a jewelry store, you know how crucial it is to pay them on time.
Now, imagine a situation where you are preparing for a new collection launch in your jewelry store. To ensure that your collection meets the expectations of your customers, you need to source raw materials. For this, you may be relying on one vendor for high-quality gold and another for custom-cut diamonds. However, both of these vendors are abroad, and they require you to settle payments to start production or ship their goods. As these are high-value transactions, depending on traditional methods cannot be a good idea as it poses security issues and delays. So, how can you pay these vendors on time?
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Make Cross-Border Payments Easily Using Wire Transfers
As a jewelry owner, feel stress-free on your cross-border payments using wire transfers. These are electronic transfers of funds sent across a network of financial institutions or transfer agencies around the world. Using wire transfers, you can send money quickly and securely from one person’s financial account to another.
You may use Zil.US to make wire transfers and pay your suppliers abroad. With the cloud-based platform, you may initiate a wire transfer from anywhere at your convenience. The platform allows you to make wire transfers from your checking accounts or digital wallets. You may easily send international wire transfers on the platform. For this, all you need is a SWIFT or IBAN code, bank name, and bank identifier code. It will take only a few days to settle your payments.
How to Make Wire Transfers on the Cloud-Based Platform?
- Log into Zil.US and choose a business checking account.
- Click the Pay button on the side panel and select the International or Domestic wire option.
- Then, choose a payee and enter the amount you want to transfer and the other necessary details.
- Once you are done, click on Pay. You will get an OTP via email or SMS.
- Enter the OTP, and your transfer will be processed.
- You may check the payment status by just clicking on View Payment.
Make Domestic Payments Easily Using Wire Transfers
Imagine a situation where a customer of yours places a rush order for two customized diamond rings. However, to make these rings, you require a specific cut of diamond from a supplier who is in another state. The supplier agrees to deliver the diamond within two days but upon one condition. He requires full payment upfront due to the rarity and value of the stone. Here, making payments via traditional methods will not be a good idea to consider. So, you may go for a domestic wire transfer.
You can affordably and quickly send wire transfers to your supplier with a few clicks using Zil.US. To make domestic wire transfers on the platform, all you need is account and routing numbers. After you initiate a domestic wire transfer, it will be cleared within a few hours using the platform.
Alternative Payment Options
Besides wire transfers, Zil.US helps you send payments using ACH or virtual cards.
ACH Transfers
It is a kind of electronic payment made through the Automated Clearing House network. ACH payments are securely managed and monitored by NACHA. You may utilize Zil.US to make ACH payments from anywhere with a few clicks. It is one of the most convenient and cost-effective ways to make your employee and vendor payments.
Send your ACH payments securely and efficiently as the cloud-based platform is an official NACHA member. You may make one-time or recurring ACH payments on the platform. By setting up recurring ACH payments on the platform, you will not forget to make payments on time.
Virtual Cards
Jewelry stores with multiple staff members can issue virtual cards to employees for business expenses. This can include expenses such as purchasing supplies, attending trade shows, or paying for marketing purposes. You may get multiple virtual cards on a single account using Zil.US. Activate the cards instantly by funding them using your checking account or wallet on the platform. Share multiple virtual cards with your employees by setting spending limits on each of them. This way, you may easily reduce overspending and control your finances efficiently.
The Conclusion
When you run a jewelry store, you will have to make large payments to domestic and international vendors. You may utilize wire transfers on Zil.US and settle your payments on time. Domestic and international wire transfers are available on the cloud-based platform. Other than wire transfers, you may also send payments via ACH and virtual cards on the platform. You may choose the one you need and make payments with a few clicks.
