BNY Mellon today announced the global expansion of iDeal Forex, its Web-based application for cross-border payments involving foreign exchange (FX) transactions. iDeal Forex is now also available to clients in Europe, the Middle East, Africa, and Asia-Pacific .
iDeal Forex combines the electronic payment processing capabilities of BNY Mellon Treasury Services with the FX trading capabilities of BNY Mellon Global Markets to deliver a fully integrated solution for clients making cross-border payments. Features include the ability to manage the FX-related aspects of commercial payments and receipt processing on-line; web-based initiation and authorization of cross-border payments; currency conversion based on real-time FX rates supporting more than 70 currencies; and maintenance of payment instructions used for ad hoc or repetitive payments. Clients can make payments via wire transfer or drafts, initiated via either iDeal Forex's web interface or file upload. iDeal Forex also provides a wide array of informational and reporting services, including beneficiary e-mail notification.
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