Global66 enables service to receive dollars and euros with local account numbers
The users of the fintech Global66, individuals and businesses, will have the possibility of receiving transfers in euros (Europe), dollars (USA) and pounds (UK) while having an account number that functions as a local one in these countries to carry out transactions.
The Chilean fintech Global66 launched a new pioneering service in Latin America: its users can have a global account in dollars and euros that will include account data such as a routing number and IBAN respectively. This will allow customers to receive and send money directly from the United States, Europe, and the United Kingdom.
This is due to the fact that international transfers have experienced exceptional growth since 2014, increasing annually at a rate of 25%, according to the most recent study by Mastercard and Payments and Commerce Market Intelligence. Last year, these global transfers exceeded 50% of the total volume for the first time, reaching a global market of approximately US$439 billion.
"Five years ago, we set out to solve a fundamental problem: the difficulty of moving money internationally in a simple and efficient way. Until now, we had managed to simplify transfers from Latin America to the rest of the world, but we were missing a crucial step: making the process just as easy from the United States and Europe to Latin America," comments Tomás Bercovich, CEO and CoFounder of Global66.
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On the other hand, the Chilean fintech has made available on its website an exclusive access list to request access to the product, where all the information to know its characteristics and functionality can also be found.
An Alternative and Complement to Other Platforms Like Paypal
This new feature is aimed at freelancers, students, investors, and businesses, as it will allow them to receive money from any bank in Europe, the United Kingdom, and the United States; transfer dollars via ACH or domestic wires from the Global Account and receive euros quickly. Additionally, it facilitates the withdrawal of funds from platforms such as PayPal, Airbnb, and Deel.
Companies with a Global66 Business Account can also access this functionality, allowing them to manage international payments more efficiently. "Companies can decide whether to hold dollars, buy other currencies, or send them. Using these efficient processes for sending and receiving money that are secure, instant, and accessible, we contribute to the growth and economic development of Latin American entrepreneurs", added Bercovich.