Elver eCommerce Accountants power clients' global expansion with Airwallex
Elver eCommerce Accountants help businesses expand globally. Find out why they recommend Airwallex to their clients.
"If you want to sell on Amazon in the US, you need a solution like Airwallex to support you. Otherwise it’s just not going to be possible.”
Elver eCommerce Accountants specialise in helping businesses sell across multiple marketplaces and regions whilst remaining tax compliant.
The firm was founded by Steve Blackmore, a Chartered Accountant with over 30 years experience in practice and commerce. Steve’s son, Oliver Blackmore, joined the family business in 2019.
Steve and Oliver understand that eCommerce companies require specialised financial services, which is one of the reasons they partnered with Airwallex.
“Airwallex offer foreign domicile bank accounts,” says Oliver. “A lot of high street banks or even some of the FinTech banks like Revolut just don’t have that option. So if you want to sell on Amazon in the US, you need a solution like Airwallex to support you. Otherwise it’s just not going to be possible.”
How are Elver’s clients using Airwallex?
The firm recommends Airwallex to clients that sell on marketplaces such as Amazon and eBay. Particularly those that sell globally, or have ambitions to do so.
“You’re far more likely to trade internationally as an eCommerce business,” says Steve. “You could be a one-man-band working from your bedroom using 3PLs or selling on Amazon, and run a five million turnover business. That wouldn’t happen in any other sector.”
With an Airwallex Global Account, Elver’s clients can now collect customer payments in multiple currencies—including USD, Euros, Pound Sterling and Chinese Yuan—with no transfer fees or forced conversions, saving them up to 4% on each international sale.
The firm also recommends clients use Airwallex to transfer funds to international suppliers. Airwallex’s FX rates are 80% cheaper than high street banks, and our local payment routes ensure that funds reach their destination in as little as one day, with no hidden fees.
“The vast majority of our clients are buying most if not all of their stock from China, so are always needing to pay foreign currency suppliers. Airwallex is useful in that respect,” says Oliver.
Elver has the infrastructure in place to ensure eCommerce transactions are accounted for accurately, no matter how many marketplaces or regions their clients sell from. They use tools like A2X and Xero to efficiently reconcile payouts from platforms like Amazon, Shopify and eBay, and can provide international VAT and GST returns to most countries in the world.
Airwallex syncs with the tools that Elver and their clients use, making it an easy solution to plug into their existing workflows.
“The Xero integration is good in that you’ve got timely and accurate bank feeds directing to Xero, which saves a lot of time and means that accounts can be kept up to date more easily.”
How does Elver use Airwallex internally?
As well as recommending Airwallex to clients, Elver use Airwallex internally to collect international payments.
Switching to Airwallex has allowed the firm to settle in multiple currencies without forced conversions or unnecessary fees. Our Borderless Cards also save them money on everyday business expenses.
“The cards are particularly useful for online subscriptions. When you unexpectedly have to pay in a foreign currency, it saves on the fees,” says Oliver.
Helping eCommerce businesses improve their margins
Marketplaces such as Amazon and eBay charge eCommerce businesses up to 6.7% per transaction when collecting funds into a UK bank account.
High street banks charge up to 4.5% for international transfers, so clients were losing money when paying suppliers.
The firm needed a solution that would save clients money, integrate with their existing tools, and allow for multi-currency reconciliation from a single business account.
The firm also wanted to cut the cost of their own international transfers, foreign currency collections and payments.
The Airwallex solution
Clients can now collect multi-currency payments from eCommerce marketplaces into an Airwallex Global Account with no transaction fees or forced currency conversions, saving them up to 4% per transaction.
Clients can make high-speed transfers to 150 countries with no international fees and bank-beating FX rates.
Airwallex integrates with Xero ensuring accounts are kept up to date automatically.
The firm uses an Airwallex Global Account to save money on their own international transfers, collections and payments.
Empowering eCommerce businesses to grow globally
“If you don’t have a solution like Airwallex, you’re missing an opportunity to open up selling to international marketplaces, especially where it’s required to have a foreign domicile bank.”
Elver are committed to helping their clients scale internationally. Key to that is equipping them with the tools that facilitate global expansion.
By partnering with Airwallex, Elver can offer their clients a solution that allows them to push into new markets without the associated fees or admin burdens.
“If you’re solely using a high street bank, you’re probably throwing a lot of money away, and you need to speak to someone like Airwallex as soon as possible to start making those savings,” say Oliver. “If you don’t have a solution like Airwallex, you’re missing an opportunity to open up selling to international marketplaces, especially where it’s required to have a foreign domicile bank.”
James Scobie, Channel Partnerships Manager at Airwallex says: “Elver is a firm that understands the complexities of the eCommerce market, and is able to deliver a specialised accounting service to clients. We are delighted to partner with them, and empower their clients to grow internationally.”
To apply for an Airwallex account using Elver’s exclusive offer please click here.
See how our customers are finding Airwallex
"Airwallex have been a fantastic partner for Olsam Group as we grow our eCommerce brands to new channels and new markets. Their easy to use interface and integrations have been a joy for our finance team to use as we scale."
"For ME + EM, expanding into international markets such as the US has been our focus - and with Airwallex, we were able to use their local USD Global Account to collect from our Paypal US account, thereby allowing us to save 3% on each transaction. The process of working with Airwallex has been seamless - our suppliers get paid quickly, we have a dedicated Relationship Manager who has been really patient, helpful and quick to respond. I am keen to use their cards to pay for our ad spend in the near future to save further on our USD invoices."
Finance Manager, ME + EM
“We used to pay Stripe between $5,000 and $10,000 a month in conversion fees because most of our customers pay in dollars. Now we funnel that money into our Airwallex US dollar account, we don’t have to pay commission. We’ve saved more than $100,000 so far this year”
Founder and CEO, Brandbassador
"We love Airwallex! It has considerably eased our invoicing and payments to contractors around the world. Sending and receiving money is much faster and cheaper than before."
Co-Founder, Mobile Transaction
“We are so glad that we have found Airwallex! There are no hidden charges, they are quick to respond to any queries and we had the smoothest transaction with amazing support from the team continually.”
Supply Chain Executive, Miss Patisserie