European companies expanding to the United States often struggle to source a local USD bank account. Monex USA solves this problem with its digital multicurrency account accessible 24 x 7 via Monex Online. Accounts are approved hassle-free in one day and clients do not need to be physically present to be approved. There are also no setup or monthly maintenance charges for Monex’s multicurrency account. Monex USA is a FinTech leader that processes over $1 billion per business day of corporate client transactions worldwide and has a 30 year operating history.
The Monex platform supports 34 currencies and enables your US subsidiary to manage the following key financial tasks securely and conveniently on the Monex Online platform:
Fund US Operation:
European Parent Company delivers EUR – Monex converts to USD – to provide operating funds for the US subsidiary.
Day-to-Day Operating Activity:
US subsidiary uses USD to make local US payments for accounts payable.
US subsidiary uses Monex to receive USD for accounts receivable.
US subsidiary sells USD and buys EUR to send European Parent company when Parent acts as a supplier to US subsidiary.
Dividends to European Parent:
US subsidiary sells USD and buys EUR to repatriate US profits back to Parent Company in Europe.
Click here to learn more and to start the process to open up your complementary multi-currency account with Monex USA.
24 x 7 Monex Online platform supporting:
Cross border payments in 100+ currencies
Foreign currency holding accounts in 34 currencies
End-to-end Payment Tracking
Food & Wine
And many more…..