Monty – COMPANY SERVICES

Service for Companies

Our specialty: payments in local currency without commission

Monty provides companies with international payment and collection solutions, and currency trading, in cash or with deferred payment.

Our specialty is payment in local currency throughout most Latam countries, although we can also arrange to collect and pay in any currency traded on the international money markets. Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, Paraguay, Peru, Uruguay… The majority of these currencies are not traded by the financial institutions and therefore a double exchanges rate (through the US dollar) is usually applied in addition to the transaction commissions, which considerably increase the financial costs. However, Monty can make direct exchanges of these currencies with no account opening or maintenance commissions.

You will also have access to the B2C Money Transfer platform in the vast majority of these countries, which enables direct bank account deposit and over-the-counter payment, in less than 24 hours for employees posted abroad, business partners and other parties.

You will minimize your company’s costs

We will obtain very competitive exchange rates for you and provide a transparent, high quality service that will enable you to minimize and contain the costs since you will always know what the exchange rate is before making the transaction.

Monty is a member of SWIFT. Security is guaranteed for all international payment transactions.

Monty is a member of SWIFT, therefore guaranteeing security in all international payment transactions.

Solutions for all of the company’s departments

Human Resources: we help companies pay out salaries and expenses of personnel posted outside their country of origin. We can manage payment of your expatriate payroll, both for employees posted temporarily (engineering projects, consultancy, tendering processes, etc.) and permanently.

In the latter case we can take care of paying local suppliers in all matters related to expatriation: schools, rentals, moving house…

Procurement: we can manage your foreign currency payments to suppliers abroad, either in cash or with deferred payment. We ensure the exchange rate and eliminate the risk of currency price fluctuation. We have accounts in euros and in foreign currency, without high costs or maintenance.

Foreign trade: with respect to attendance at trade fairs, missions, business meetings or promotional trips, we manage payment of hotels, internal flights, car rental expenses, etc. in local currency. We enable cash withdrawal in the country of destination allowing you to cut the fees associated to the use of credit cards on international networks, and eliminate the cost of buying and selling currencies.

Sales force: we pay employees and/or agents in less than 24 hours in local currency. This enables you to avoid the high fees for small payments abroad which can account for more than 10% of the total amount paid. We pay in less than 24 hours and collection is performed locally, either over-the-counter or by deposit in a current account.

Thanks to our agreements with correspondents, companies can grant their customers the option of paying in local currency and receiving euros in Spain. This represents a significant savings for both since it avoids the local currency/dollar/euro double exchange.

Another advantage of working with Monty: increase or repatriate capital from abroad within 48 hours with the confidence of knowing the exact amount to be paid at destination before making the transaction. Whether the purpose is to set up a subsidiary in the country of destination as the first step in an internationalization project or to send funds to branches in foreign countries, we prevent the amount issued at origin from being eroded by the fees of intermediaries. The same applies to repatriation of funds: the money will be credited to your account in Spain within 48 hours.