Wire Cost Savings
Virtually every crew member sends some or all of their pay home. Sending money home can be expensive and time-consuming for both maritime companies and their crew members. ShipMoney offers an inexpensive yet powerful solution for crew wire payments that provides significant cost savings.
|EST. CLIENT WIRE COSTS||SHIPMONEY WIRE COSTS|
|2,000||Total number of onboard crew||2,000||Total number of onboard crew|
|x $20||Cost of wire payment||x $7||Cost of wire payment|
|= $40,000||Est. monthly wire payment costs||= $14,000||Est. monthly wire payment costs|
|= $480,000||Est. annual wire payment costs||= $168,000||Est. annual wire payment costs|
|= $312,000||Est. annual gross cost savings|
ShipMoney has partnered with AFEX to provide a cost-effective crew wire payment solution to bank accounts worldwide in over 150 currencies. Crew members access the wire service directly from their ShipMoney cardholder login, saving them time and money compared with visiting money transfer agents in port. Companies can also access the wire service via the ShipMoney Client Portal.
ShipMoney has also partnered with Western Union to provide money transfer service to over 500,000 agent locations worldwide at very competitive prices compared to retail locations. Crew members access this service directly from their ShipMoney cardholder login, eliminating the need to visit Western Union agent locations while in port.