Making trades on the foreign currency exchange market is a perplexing endeavor to some, but with a trusted broker and armed with sound trading strategies, it can prove highly profitable.
Traditionally, if a customer wishes to withdraw their returns for personal use, they are required to first move the assets from their forex brokerage account into an individual account. This procedure has been found to be superfluously complex for some or expensive.
To simplify payout process for investors, many forex providers are now embracing alternative disbursement schemes such as using prepaid cards.
T24 Prepaid cards are an improved FX payout option for both investors and brokers. Some of the reasons are listed here:
1.) Payouts are Immediate
If prepaid cards are incorporated into the process, forex providers are able to instantly send cash to their investors and clients, an option that may not be provided by traditional payout methods. Clients can immediately gain access to and use their cash instore, online and even withdraw it at ATM machines around the world. This benefit allows forex providers to experience superior client retention and satisfaction. As for the technical end, an API from the existing FX platform can be used to painlessly load a client’s prepaid cards.
2.) High Load Limits
Prepaid cards as a FX payout answer doesn’t only offer your customers the luxury of instant access to their forex earnings, but also in large amounts. Loading limits are as high as 50000 USD with the leading prepaid card providers. This amount of access to cash flow permits your customers more enjoyment opportunities and increased spending power.
3.) Branded Results
White label prepaid cards are ideal and completely customizable as a payout answer for all forex needs. The fact that they are user-friendly in design and cost-effective allows forex providers to make their payout management process a breeze.
In addition, T24 Prepaid white label prepaid card schemes boast deliverables such as smartphone applications, support for multiple languages, IVR/SMS systems and marketing and cardholder websites. Prepaid card providers are willing and happy to customize various aspects to your brand’s particular look and feel for the sake of marketing.
4.) Better Rates
Usually, prepaid cards are able to grant forex providers inexpensive payout rates, which can be cheaper than conventional bank transfers. These savings add up quickly, particularly for forex brokers that work with enormous amounts of capital and currency flows.
5.) Accurate Payment Reconciliation
Prepaid cards let forex providers relish in a painless, easy and trouble-free payout experience because these providers assure a great deal of precision and accuracy where payment activity reconciliation is concerned. They are able to provide a clear layout, which includes reconciliation reports that outline all occurrences that affected the balance of the load history and the float account. A portion of these reports even contain detail that can be viewed down to the individual card level. These updated, well-chronicled statements help make your payout process as easy, effective and hassle-free as it can be.
6.) User Benefits
In addition to being a great FX payout solution, prepaid cards are also an ideal disbursement method for the customers. The cards can be used for online and instore purchases, or even cash-withdrawals at various ATM machines around the globe. A chip and PIN security system protect the prepaid cards; therefore, protection is not an issue. With no line of credit tied to a prepaid card, in the instance a card is stolen or lost, potential financial loss is limited. In such evets, patrons can tell the prepaid card provider to freeze their card instantaneously and have a new card expedited to them.
Adding up all these great benefits, prepaid cards truly are perfect choice not only for FX disbursements, but also works great as a personal financial device on the client’s end. To learn more about prepaid cards, please visit www.t24blackcard.com today.