It seems Brexit has caused a number of EU banks to increase their fees for receipt of SEPA local payments in EUR from GB IBANs. Banking Circle believes that this is unhelpful for the financial institutions supporting businesses trying to continue to trade cross border. Banking Circle can cut out the ‘Brexit-premium’ because it offers a solution that enables transparent, local payments and collections across borders, without the need for a physical presence or a relationship with a correspondent bank in that region.
This means there is no need for financial institutions’ customers to accept increased fees because of Brexit. This is an important added-value for Banks and Payments businesses to give their customers, according to the official press release.
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