ZilBank Streamlines Opening US Accounts for Mexican Companies

B2B banking platform ZilBank has launched a new feature that makes it easier for Mexican businesses, entrepreneurs and freelancers to pay U.S. vendors, affiliates, employees and others.

The software-as-a-service (SaaS) platform now allows Mexican users to open U.S. payment accounts online with passports, a statement of purpose and necessary documents, ZilBank said in a Thursday (Dec. 7) press release.

“This enables Mexican entrepreneurs to set up U.S. payment accounts without being physically present, allowing business growth in the United States,” the company said in the release. “Also, this simplifies transactions and promotes efficient and cost-effective business operations.”

ZilBank’s all-in-one financial platform lets users create and use multiple business accounts and make money transfers through ACH, mailed checks and wire transfers, according to the release. It facilitates instant fund transfers between ZilBank accounts.

By allowing businesses to open multiple specialized payment or business accounts, the platform streamlines financial tracking and management, the release said.

The platform also enables virtual cards, international payments, bulk payments and getting paid early, per the release.

“ZilBank is dedicated to fostering global business expansion and financial empowerment, which aligns with its main goal of offering accessible and efficient financial solutions for businesses of all sizes,” the company said in the release. “The platform’s ability to overcome geographical limitations and support entrepreneurs globally establishes it as a leader in the changing world of international business transactions.”

PYMNTS Intelligence has found that some small and medium-sized businesses (SMBs) are meeting the challenges of cross-border payments by adopting third-party solutions that can streamline payments through a single tool, while ensuring regulatory compliance when sending and receiving funds across borders.

By using a single third-party digital platform that manages transaction monitoring and payments processing, SMBs may find international transactions as easy as domestic sales, according to “International B2B Payments: A Guide for Entrepreneurs and Digital Businesses,” a PYMNTS and Payoneer collaboration.

In other recent news, Zil Money, the parent company of ZilBank, said in September that it has integrated with cloud-based financial management software firm Sage Intacct.

This integration automates tasks such as invoice imports to save time and reduce manual entry, allowing Sage Intacct users to import invoices and payee lists effortlessly.