Trading foreign currency can be highly profitable for those with a trusted broker and good trading strategies. For your investors to spend their profits, the withdrawal process traditionally means a transfer of fund from the forex brokerage account to the client’s personal bank account. In recent years, forex providers are finding that prepaid cards offer a far cheaper, quicker, and more efficient payout solution, with more and more switching over each day.
Here’s why prepaid cards offer a much better solution to payouts:
Payouts are Instant
Prepaid cards give forex provider instant money transfers, and investors can gain immediate access to their funds – using them in-store, online, or at ATMs worldwide. Providers can also offer clients the ability to load funds 24/7, which means high customer retention and satisfaction levels. Card loading is easily integrated into an existing FX platform through an API.
Load Limits are High
Prepaid cards ensure clients have the freedom to spend as much as they desire, with some providers even offering load limits as high as 50,000 USD. This, coupled with the ability to utilise forex profits instantly, gives clients unparalleled spending power.
The rollout of a White label prepaid card solution is an ideal way to streamline and standardise your payout system. White label prepaid cards offer forex providers a user-friendly, cost-effective way to provide payout solutions to their clients. Deliverables include cardholder and marketing websites, mobile applications, multi-lingual support, IVR/SMS systems and more, all customised to your brand look and feel.
Prepaid cards are an easier, more cost-effective alternative to traditional bank transfers, as card providers typically offer better rates than banks. Client-facing providers benefit the most from these rates, as the savings generated from prepaid cards can easily be passed down to clients – no cost or work involved. No matter the use, prepaid card savings quickly add up, especially for brokers with regular currency flows.
Easier Payment Reconciliation
When dealing with prepaid card payment activity, high accuracy is ensured. Payout management is streamlined, with reconciliation reports including all events that change the balance of the float account. Load history is detailed, with information reaching to the individual card level. Prepaid card payment reconciliation is a truly efficient and easy process.
Prepaid cards function in the same way as a traditional credit card, making them the perfect payment solution anywhere a credit card is accepted – online, in-store, and at ATMs. They also offer the ability to set up once-off and a recurring payment plan, making bill payment a breeze. Investor trading profits can be spent effortlessly and efficiently.
Please visit www.transact24.com to learn more about how prepaid cards are the perfect forex payout solution.