In this episode, I sit down with Dan Goodwin an International Payments solutions specialist. We discuss the basics of international money transfer, the impact of exchange rates, and the negotiation of cost-effective transfers with MSPs.
The conversation covers a range of topics related to international money transfers for non-profits, including negotiating with payment partners, navigating banking regulations and understanding KYC processes. The discussion also emphasizes the importance of finding a partner, not just a provider, for international payments.
Dan Goodwin shares valuable insights and tips amassed over more than a decade of experience in the non-profit international payments sphere. This is for all International NGOs and Charities, and any non-profit that makes payments globally.
KEY TAKEAWAYS
Negotiating with payment partners is essential for non-profits to find win-win solutions.
Navigating banking regulations requires leaning on partners or banks for guidance.
Understanding KYC processes and compliance is crucial for successful international money transfers.
Finding a partner, not just a provider, is key for effective international payments for non-profits.
BEST MOMENTS
"… people just assume that because they can send money to each other on an app, that it's actually dead easy to move money, regardless of where you are around the world."
"Don't be afraid to negotiate. If you need a partner and, you know, if you've got a money service business, you're prepared to be a partner rather than a provider."
EPISODE RESOURCES
Connect with Dan https://www.linkedin.com/in/daniel-goodwin-3248a6103/
BOND: https://www.bond.org.uk/
Charity Finance Group: https://www.cfg.org.uk/about
ABOUT YOUR HOST
Aishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.
With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit’s mission.
Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.
Work with Aishat: www.bancservices.co.uk
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