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5-SLN NetworkPay Payment Facilities

During 2018, 5-SLN "partnered" with 5-SLN NetworkPay and TransferWise.  5-SLN highly recommends and endorses the use of 5-SLN NetworkPay as it offers far better exchange rates than those available through traditional banking; with no minimum transfer amounts and, best of all, no bank fees or other hidden charges.

5-SLN NetworkPay allow users to hold monies in a basket of multiple currencies and to transfer funds in this basket between different currencies. 

Members can deposit or withdraw funds into/from their existing bank accounts with 5-SLN NetworkPay in local currency.  As it is 5-SLN NetworkPay that makes the conversion and overseas remittances, this legally by-passes a lot of the burden placed on 5-SLN Members in dealing with their local bank restrictions on foreign currency transactions.

5-SLN NetworkPay allocates 5-SLN Members with "virtual accounts" with the funds therein belonging to individual Members.  Some other networks operate (or operated) systems whereby the network themselves were the owners of fund and not the members.  5-SLN NetworkPay is FCA Regulated and is backed by some of the largest global banking organizations.

A brief introduction to 5-SLN NetworkPay and TransferWise follows:

5-SLN NetworkPay is the payment portion of the  BuyTasker suite of products.  Completely free for 5-SLN Members.  By participating in 5-SLN NetworkPay, users will have access to the RFQ portion of BuyTasker allowing 5-SLN Members to quote - on-line - on the freight associated with the digital trading operations of BuyTasker.  Full details of the BuyTasker suite of digital forwarding products are scheduled to be released by 5-SLN over the coming weeks and at the upcoming 5-SLN Annual Conference.  5-SLN strongly endorses the BuyTasker suite.

Even as a stand-alone product, 5-SLN NetworkPay offers on-line banking facilities at vastly better rates than offer by traditional banks combined with a basket of currencies and no minimums and no banking transaction fees.  Payment beneficiaries receive funds instantly with no 1-3 day delays involved with traditional banking and no hidden costs.

Once registered for 5-SLN Network Pay™ an unique "Network Pay ID Number" is allocated to your Company.  All you then have to do is advise the paying party of this "Network Pay ID Number" so that they can effect payment via 5-SLN Network Pay™.  Payment can be made in any of 140 currencies from either existing funds held in the payer's 5-SLN Network Pay™ account (regardless of the currency it is held in) or by uploading funds to your 5-SLN Network Pay™ account from your local bank account.

Once registered, Members will be able to view incoming remittances instantaneously - whether they have been current or post-dated.  Once funds have been received, they can be held in 5-SLN Network Pay™ (in up to 25 currencies); transferred into different currencies; used to make outbound payments and/or withdrawn in local currency into a local bank account.  Again, all without any fees!

It is recommended that 5-SLN Members show their "Network Pay ID Number" on their invoices, statements and even their email signatures in order to receive funds without excessive inbound wire transfer fees.  In order to facilitate this, 5-SLN Network Pay Number is: XXXXX">please click her to advise 5-SLN of your "Network Pay ID Number" so that we can display it in the protected version of your Member Profile.  Members will also see a 5-SLN Network Pay™ icon next to their listing in the Members Directory.

All future 5-SLN Invoices will have a link to 5-SLN Network Pay™ and our "Incoming Wire Transfer Fee" of USD 25 will be waived if payment made via 5-SLN Network Pay™.

Click here to register (completely free of charge) for 5-SLN Network Pay™

This link will require the input of your Access Code and then you can create a BuyTasker Account or Login.  BuyTasker provides tutorials and even the scheduling of a demo (button on right bottom).

 
 

TransferWise is an on-line facility that has over 4 million users and can be used for international payments in 27 currencies.  To establish a TransferWise Account, simply request an invitation to join by emailing [email protected] or open a TransferWise Account direct at:  https://transferwise.com/register