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marketing - Essay Example
Pages 8 (2008 words)
Topic: Marketing Name Professor Institution Course Date Why Expats Might Be Of Interest to a Global Bank Expatriates, being those who are not resident in their own country, need a lot of flexibility concerning the transfer of money between accounts held in their home country and wherever they may be staying currently…
It thus makes sense to have a bank with a global reach that makes it easy for the expats to access their money in the right currency and amount whenever need arises. Such banks include Barclays, HSBC, City Bank among others (Czinkota and Ronkainen, 2007, p. 119). One of the main reasons expats would be interested in a global bank is that one can have all the information concerning their accounts at all times. Most global banks offer international accounts accessible from any part of the world. This easiness of information access is one reason expats need to consider global banks. They get to know all the charges incurred in all the transactions they make on their accounts. Another reason a global bank is the right choice for expats is that they have the added advantage of not only accessing their money whenever they need it, they also get it in whatever currency they desire. Due to the bank’s global reach, exchange rates are also deemed to be reasonable as they are normalized all across its branches (Czinkota Ronkainen, 2007, p. 77). It also occurs that due to their large sizes, these banks have the luxury of offering the best exchange rates on the market since they enjoy economies of scale. Thus, they make profits depending on volume in spite of exorbitant rates. ...