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- baby it's just two minutes your two minutes active starts now I just found a great way to save you a ton of money when it comes to paying other people like subcontractors or third-party vendors oh you don't believe me huh you think I'm here to trick you no I'm here to tell you how to save a bunch of money when it comes to trying to send other people money through ACH yeah that's right I'm not here to trick you if you're a business owner have you ever tried to pay some other subcontractor or a third party vendor via ACH and your bank like Bank of America charges you ten dollars to send that wire transfer or like TD Bank seven dollars to send that wire transfer and you have to wait one two three business days order for that person to get the money listen I know you're trying to find deductions you like those Bank fees but I'm trying to help you save some money I'm trying to help your bottom line increase and be more profitable when it comes to owning the business yes that's right welcome to the promised land I'm about to show you one of the greatest apps out there when it comes to paying subcontractors or third party vendors via ACH and paying nothing on the transfer fee but we only have two minutes so let's dive right in okay so here's the basics paying third party vendors or subcontractors has always been a difficult process for business owners and it's always been an expensive business oppy in order to pay that subcontractor or that third party vendor you generally have to trigger an ACH payment through your bank and many banks charge ACH fee in order for you to send that money to them so for decades now bank institutions have been hurting small business owners with excessive fees when it comes to wire transfer fees or ACH payments sometimes unnecessary delays and the inability of track payments you don't even know if the person that received the payment actually received the payment okay well so tell me what you have going on tell me what this amazing tech is so how does beam work this is how beam works it's really easy they don't charge you anything for sending an ACH payment that's right zero dollars so zero dollars charge to you as the sender zero dollars charged to the person that's receiving the money the receiver unless the person who's receiving the money is living in a foreign country and wants to receive the money in USD and not their native currency at that point being discharged defeat but if they're receiving it in their native currency if you're sending payments international there's no charge for it or if you're sending it here within the United States there's no ACH fee whatsoever for sending an ACH or bank transfer number two the process is pretty simple through Fein you initiate your payment through Veen the person you're sending the money to receives an email saying hey mr. and mrs. small business owner wants to pay you some money they claim that receipt and then veem transferred the money the moment they verify all the details that's pretty much it it's pretty straightforward okay so why should I use Veen come on guys let's do this okay number one sending ACH payments domestically to vendors is free number two beam allows your business to transact globally at a low cost and number three one of my favorite parts about beam is beam integrates with Xero accounting for easy vendor paying management so if you're using Xero comm for your bookkeeping and you're keeping track of all your vendor payments in their beam integrates with Xero and helps automate and initiate that payment quickly through Veen okay that's it thank you guys for watching hopefully that helped you answer some of the questions about how to save money in ACH payments or wire transfer fees when it comes to transacting or doing business with third-party vendors or subcontractors which can be a very expensive hobby for your business when you're trying to pay third-party vendors to do business with them on a regular basis so if you've never heard of beam comm before be sure to click in the description below I'm gonna tag a link in there so that way you guys can figure out how to sign up for beam comm and check out how advisor Phi comm has teamed up with beam for fee free global payments all right well thank you guys for watching don't forget to subscribe and we'll see you guys at the next video wow that was the best two minutes of your life hey thanks for watching hopefully we were able to answer all your questions with our 2 minute tip be sure to subscribe by clicking the button below and check out this video over here for our latest release and that playlists down there for our best playlist and we'll see you guys at the next video you [Music]