Born from the idea that regional community banks, credit unions and other businesses, both small and large, deserve a fresh approach to international payments and collections, GreenShootsFX provides their clients (exporters and importers alike) with a range of solutions designed to support all of their cross-border FX needs, from global collection accounts to first-class bulk payment capabilities to forward contracts with flexible terms.
Averaging more than 25 years of experience each, this group of like-minded, client-centric FX specialists, understands that not all businesses have the volume needed to demand FX
payment services from, or negotiate better rates with their bank or credit union.
It should come as no surprise, therefore, that the services GreenShootsFX offers focus on improved pricing, access to more currencies and countries, a new level of transparency and control, enhanced risk management and robust client-account security.
Underpinned by an award-winning online platform designed by Currencycloud, GreenShootsFX is dedicated to helping its clients grow and strives to be the one-stop-shop for all their payment needs.
Mark began his career at NatWest Bank in London, England in 1991. Since then, he has held various transaction banking roles at a number of global financial institutions including Nordea, Wells Fargo, JPMorgan and Deutsche Bank. Most recently, Mark worked for BNY Mellon as North America Regional Head, Treasury Services.
Throughout his career, Mark has partnered with an array of clients, providing them with the global FX payment solutions that best met their needs. Clients have included corporates of varying sizes and in various industries, banks, credit unions, broker-dealers, asset managers and insurance companies.
Mark is a firm believer in the valuable role that community financial institutions and small to mid-cap businesses play in their local economies. He co-created GreenShootsFX specifically to offer these organizations a fresh approach to international payments – one that delivers competitive pricing, ease of use and greater transparency.
In 2015, Mark and his family moved permanently to the United States, settling south of Boston. He became a US citizen in 2018.
When he’s not responding to clients or obsessively checking FX rates or tinkering with spreadsheets, Mark can be found spending time with his family, playing golf, hitting the beach, walking the dogs or cutting the grass.
If you don’t have the volume needed to negotiate better FX rates with your bank or credit union, or if your financial institution is not able to offer you FX payments or at a great rate, GreenShootsFX can help.
Our FX flow ensures we receive near-market rates from multiple liquidity providers. We can then offer you tight pricing on your transactions, which equals substantial cost savings for your business. Our cutting-edge technology streamlines and shortens the payment chain, enhances risk management, improves transparency and keeps your funds safe and secure. Our dedication to first-rate client service ensures you get the solution you need and the attention you deserve.
Simply register for an account with GreenShootsFX to take advantage of all that we offer. Rest assured, you don’t have to move all of your business to do just some of your business.
Take 15 minutes to easily register for your free secure online multi-currency account with no obligation to trade.
Your account will typically be operational within 24 - 48 hours at which time we can provide a tutorial.
Select the currencies you will to sell and buy, and we'll provide you with a live competitive FX rate.
Receive real-time confirmations and send payments to your global vendors in minutes.
Global payments made the right way. You’re likely not aware your bank is sending payments in a convoluted fashion, via many intermediaries.
We have made it our mission to send your payments directly to the beneficiary bank, when possible, and without deductions so the beneficiary’s bank receives funds in full.
Simply log on to your secure GSFX Online platform using two-factor authentication. Select the currencies you wish to sell/buy and the specified amount, plus the value date you would like the trade to settle within the next 12-months. Either let the funds settle to your GreenShootsFX currency account or initiate a payment to your global beneficiary.
At this time you can either pull the funding amount from your house bank, push funds from your bank, or receive funds from an international client.
On the value date in most cases we will either send a SWIFT message to the beneficiary bank or if paying locally in GBP, EUR, or INR we have access to the real-time payment networks thus beneficiaries can be credited within minutes.
Your one-stop-shop for international payments with a secure authentication log-in feature.
Whether you want to manually input a single payment, or upload bulk payment files, or would rather choose seamless API integration with your ERP or TMS, our online system makes it easy.
We take our regulatory responsibilities very seriously. In line with our current anti-money laundering policy and sanction screening requirements, we cannot receive funds from, or send money to, the following countries listed below.
Aside from the these countries, there are others where we are not able to collect funds from and you can find the current list of permitted and restricted jurisdictions HERE.
Our payment services are provided by The Currencycloud which is owned by Visa Inc. Currencycloud is authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 for the issuing of electronic money and the provision of payment services with FCA registration number 900199.
Over $1bn per month is now being processed through the platform and all client funds are held in separate accounts with tier one banks. In the unlikely event of Currencycloud ceasing to exist, your money remains protected.
SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. For quite sometime it has been the industry ‘norm’ for when banks are communicating with each other.
GPI is the initiative to allow banks to show each other where a payment is along its journey and whether there have been any deductions along the way. For the first time you will be able to know whether your beneficiaries have been credited with certainty.
A SWIFT MT103 (MT stands for ‘message type’) is used for a customer transfer and informs the beneficiary bank of who to credit, with how much, on a specific value date, complete with details of the remitter and any references to help the beneficiary reconcile the payment.
Funds are safeguarded by our FCA-regulated e-money partners at a credit institution.
Yes. The accounts are in your company name and you can see all of your balances online in one easy-to-view location. You can then switch balances between accounts and remit payments to non-sanctioned destinations.
This also means that when paying you, your customers will address their payment to you, and not to GreenShootsFX.
As your business grows you might require more substantial international cash management services, which your existing bank or credit union may not be able to provide. Many of the larger financial institutions will insist you move all of your banking business for the privilege of accessing their FX services. More than likely, you have a long-term and successful relationship with your community bank or credit union that you don’t want to sacrifice. The solutions provided by GreenShootsFX enable you to stay with your current provider for all of your existing banking business.
Our sole interest lies in supporting your cross-border payments so we hope we can prevent you from having to move all of your banking business to an institution that you don’t want to move to.
Yes. We use an ACH Debit function in the USA.
Typically 24-48 hours after returning completed documents.
Your relationship banker is not well versed in FX currency movements, is not likely going to call you when a currency you are interested in moves in, or against, your favor, and is not likely keeping up with global economic conditions that affect current and future rates and therefore your net profit.
Other GreenShootsFX benefits include, but not limited to:
Better FX rates.
Education on why paying/receiving in currency is financially better than paying/receiving in USD.
Risk management tools such as window forwards, market orders, and more than 30 currency accounts.
Introduction to vetted supply chain professionals.
Beneficiary validation service.
Rate alerts via text and/or email.
We are able onboard clients based in the U.S.A, Canada, Mexico, U.K., EU and selected countries across the Middle East and Asia Pacific. We are able to send payments to more than 185 countries.
Yes. We require a 5% deposit on forward trades with a settlement date out to one year. Usually the deposit is required within 48 hours of the trade date.
The 5% deposit you submit will be used as part of the funding amount due on settlement date, which means you will only be required to fund the difference between the sell currency value and the deposit initially paid.
We can open accounts for you in 34 currencies. As an exporter you can collect these currencies, and as an importer you might want to buy and hold these in your account until due date for payment.
Usually they are sent in real-time. As a trade is booked, for example, an email will be sent to the account user and to senior management.
You’ll be able to see the date and time the beneficiary was credited, as well as which banks were involved in the payment chain and any deductions (if there are any) taken by the beneficiary bank.
FX trade
Payment input
Payment released
Amendments to a payment instruction
Amendments to a payment template
New templates input
CSV
We’re able to utilize the EU’s SEPA Instant payment rail which, if your payment qualifies, usually means funds will be in your beneficiary’s account within seconds of you approving the payment.
The same is said for British pounds, too, where we have access to the U.K’s Faster Payment Scheme which, like SEPA Instant, is a real-time payment network allowing payments to GBP accounts in the U.K. in seconds.
