Opening an offshore bank account used to be a difficult and expensive process. But thanks to exciting payments technology, it's now possible to open an offshore bank account online for free in just a few minutes.

So if you're looking for a more secure way to store your money, or you want to take advantage of some of the benefits of having an offshore bank account, read on to discover the PingPong solution to offshore bank accounts.

Why Should You Consider Offshore Banking?

Whether you're an eCommerce startup or an established corporation, there are many reasons to consider opening an offshore bank account. Here are just a few:

1. Offshore banking can provide greater security for your money.

One of the main reasons to consider free virtual banking is for security purposes. When you keep your money in a foreign bank, it's much less likely to be seized by creditors or stolen by thieves. It is also shielded from any potential economic or political instability in your home country.

2. You can pay your suppliers and employees more easily (and cheaply).

PingPong is strategically positioned in China, with offices across the US, Europe, and more. We’re able to facilitate same-day payments to suppliers and employees, with no limit on the amount you can send. This is a major advantage for businesses that need to make frequent or large payments to China and beyond.

3. Remain GST/VAT compliant

Foreign VAT/GST can be reclaimable, but only if you have a local bank account in the country of refund. This requirement is for all countries, not just China. PingPong can help you meet this requirement quickly and easily, helping you stay compliant without any hassle.

How to Open an Offshore Bank Account Online for Free with PingPong

Now that you know some of the benefits of offshore banking online, let's look at how you can open a free offshore bank account online with PingPong. It is quick, easy, and best of all, it's free. Just follow these simple steps:

Go to the PingPong website and create a free account.

First, you'll need to create a free account with PingPong. Visit our website and click on the "Register" button. You'll be prompted to choose between 'Receiving payments' and 'sending payment' as your account type. Fill in your personal details and contact information, and you'll be taken to your account dashboard.

Access your virtual wallet

Once you're logged into your account, you'll be able to access your virtual wallet. This is where you'll store the money you send and receive in 11 currencies, including GBP, USD, EUR, and CAD.

You can also create multiple user wallets to track your finances efficiently if you're a business. And if you need to convert your money into another currency, PingPong offers competitive rates with no hidden fees.

Link bank account

The next step is to link your bank account to PingPong so that you can start sending and receiving payments. You'll be prompted to enter your bank account details, including your account number, routing number, and SWIFT code. Once you've linked your bank account, you'll be able to fund your PingPong wallet and withdraw money to and from your bank account at any time.

Set up your payroll

You can also use PingPong to pay your employees. To set up your payroll, simply click on the "Payroll" tab and enter your employee's information, including their name, email address, and currency. This feature is beneficial if you have employees located in different countries.

You can also specify the frequency of their payments (weekly, bi-weekly, monthly, etc.) and choose whether you want to pay them in their local currency or USD. We'll also take care of all the legal and compliance issues for you, so you can rest assured that your employees are being paid correctly and on time.

API Integration

If you're a business, you can also integrate PingPong's API into your existing accounting or invoicing software. APIs will allow you to automate your payments and save time on manual data entry.

Our APIs revolve around security, trust, and transparency. We have created an environment that is both secure and efficient. With features like tokenized authentication and sandbox environments, your data is safe with us.

Take Advantage Of Our Dedicated Customer Service

At PingPong, we're here to help every step of the way. If you have any questions about how to open your account, our team of experts is always available to help. You can reach us by phone, email, or live chat. We're here to answer any questions you may have about our services.

Open an Offshore Bank Account Online for Free Today

Globalization has made it easier than ever to do business internationally. Faster shipping times, improved communication, and online marketplaces have made it possible for companies of all sizes to expand their reach.

But as your business grows, you'll need to start thinking about managing your finances more efficiently. That's where offshore banking comes in. An offshore bank account can help you save on taxes, diversify your risk, and take advantage of foreign currency exchange rates.

Create your free PingPong account today, and you'll be on your way to opening your new account in no time.