From the November 2010 issue of Treasury & Risk magazine

Gold AHA Winner in Cash Management

Saving with SEPA Credit Transfers: Google


When Single Euro Payments Area (SEPA) credit transfers were introduced, Google was quick to see their value and used them to convert 98% of its 15,000 monthly euro wires to ACH-like credit transfers, slashing its banking fees for the transfers by 98% and saving 50,000 euros ($69,237) a month.

"It's our goal to maximize standardization and efficiency in our cash management," says Ronni Horrillo, assistant treasurer, "and we could see that SEPA credit transfers would help us do this." With more than half its non-U.S. revenue coming from Europe, Google had the scale to capitalize in a big way.

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