S1E97: How multi-currency wallets can save your business money: BT Money Hacks Ep 97

Jun 20, 2021

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Synopsis: Every first and third Monday of the month, The Business Times breaks down useful financial tips.

This week's episode looks at how fees can quickly multiply and hurt the bottom-line when businesses deal in multiple currencies via traditional payment rails. Find out why and how multi-currency wallets - for businesses - are one way around it, in this episode brought to you by HSBC: https://www.business.hsbc.com.sg/

BT's digital editor Chris Lim hosts Winnie Yap, managing director and head of Global Liquidity and Cash Management Singapore at HSBC. She explains the following:

What are the costs that SMEs face when making cross-border payments by transacting in multiple currencies through traditional payment rails? (1:00)
What is a multi-currency wallet for businesses, such as the HSBC Global Wallet, and how can it save time and money? (1:29)
Addressing SMEs' concerns about foreign exchange rates (3:05)
Does the HSBC Global Wallet work like virtual consumer wallets such as GrabPay? (3:52)
What are the risks to businesses that don't embrace new payment options such as multi-currency wallets? (5:52)
A step-by-step guide for SME businesses to get started with multi-currency wallets if they want to save time and money (9:05)

HSBC Global Wallet: https://www.business.hsbc.com.sg/globalwallet

HSBC Business Banking for SMEs: https://www.business.hsbc.com.sg/hsbc-sme-business-banking

HSBC Commercial Banking for Singapore: https://www.business.hsbc.com.sg

Produced by: Chris Lim and Ernest Luis

Edited by: Adam Azlee

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