Eurowag customers can pay invoices for fuel, tolls and other services in one of 13 currencies of their choice thanks to the Billing Currency Transfer service
Invoices issued in different currencies are a daily hassle for international carriers. While larger transport companies solve this problem by setting up foreign currency accounts, for smaller and medium-sized logistics companies this can mean significant extra costs. Keeping a foreign currency account is often subject to fees, as are payments or transfers.
To help ease the burden of these fees, Europe's leading provider of integrated road transport solutions now offers an interesting and simple solution for their customers – currency conversion on all Eurowag invoices, using just a few clicks, and at no extra cost.
The service, which is available via the Eurowag Client Portal, enables the conversion of invoicing currency for most accounting documents. Most often these are invoices issued for fuel, tolls and other additional services provided by Eurowag, such as truck washing.
"The client has a pre-set default invoice currency with Eurowag. However, if for some reason they need to pay an invoice in another currency, they can do so with a few clicks in the Client Portal," Martina Sedláčková, Eurowag Product Specialist.
Eurowag customers can change the currency on the invoice after logging into the Client Portal by clicking on the "Currency conversion" button in the invoice overview. The system offers a choice of 13 available currencies, including the current conversion rate, which is derived from the European Central Bank's midpoint. This makes it very easy to compare the advantage of converting through Eurowag with the conversion rates at other banking institutions.
Another advantage is that the client can choose to convert any proportional part of the invoiced amount - for example, to pay half of the amount in their own currency and half in a foreign currency. There is no limit to the number of transfers for invoices or the amounts to be converted.
"The service is used by around 600 customers per month, i.e. about one in thirty-five Eurowag customers. Most of them are customers from outside the euro area, i.e. from the Czech Republic, Poland, Hungary, Romania and Bulgaria. The service has no obligations, and does not need to be manually activated. It is automatically available for all invoices that have currency conversion enabled," adds Martina Sedláčková, adding that the invoice currency conversion service has gained popularity, especially among customers from smaller and medium-sized companies that do business abroad but who are also sensitive to the costs associated with bank fees for maintaining and using foreign currency accounts.
This service is the easiest way for these carriers to convert their billing currency. It offers transparency, speed, user-friendliness, and above all, savings on administration and fees for foreign exchange banking products.
"Although it is an additional service, it greatly simplifies the clients' operations. In the future, we plan to improve the user interface. Orientation in accounting documents and currency conversion will be even easier and clearer," Martina Sedláčková concludes.
The billing currency conversion service is available to all Eurowag customers on the Client Portal. Currency cannot be changed on invoices for EW Mastercard or tax refunds. For more information, please visit the Eurowag website.