What is a multi-currency account and what are the benefits over a traditional bank account?

A multi-currency account allows you to hold multiple currencies in one account and transfer funds to a bank or other Payset client with low foreign exchange anywhere in the world.

A Payset multi-currency account is a single account with which you can hold, send, and receive funds in up to 38 currencies. This allows business or personal account holders to save significant time and money on foreign exchange and money transfers, which from a traditional bank account would often be more expensive and slower.

Depending on the currency and sub-account setup, your account may include an IBAN, Sort Code, or local Account Number to facilitate easier and faster local and international payments.

From your personal IBAN account, you can transfer money to bank accounts around the world, as well as send and receive free and instant transfers to and from other Payset clients. You can use a wide range of global and local payment networks such as SWIFT, SEPA, Target2, Faster Payments, CHAPS, and more.

When exchanging funds between currencies, our low-margin FX rates and transparent fees are displayed upfront before you complete the transaction.

If you work with multiple currencies, pay staff internationally, purchase goods or services abroad, receive payments from different countries, or travel and invest globally, a multi-currency account provides a modern, cost-efficient alternative to traditional banking.

Do I need a Multi-Currency Account?

Whether for personal or business use, there is much more you can do with a multi-currency account than with a traditional bank account. If your financial activities involve multiple currencies, frequent FX exchanges, international staff, or global transactions, this solution is ideal for you.

What can you do with a multi-currency account?

• Make payments in 38 currencies
• Accept payments in 34 currencies
• Pay staff globally with low or no fees
• Withdraw funds easily to external bank accounts
• Send instant and free transfers between Payset accounts
• Use both global and local payment methods
• Manage transactions from one dashboard
• Access advanced reporting and analytics
• Pay in local currencies to partners or vendors
• Receive international payments in your preferred currency
• Expand your reach to new regions and clients

What types of companies benefit from a multi-currency account?

• Global Payroll Providers
• E-commerce Businesses
• Freelancers and Contractors
• Affiliate Networks
• Startups and Tech Companies
• Online Marketplaces
• Import/Export Operations

The benefits of a multi-currency account over a traditional bank account

• Lower fees on international transactions
• Competitive foreign exchange rates
• Fast and efficient cross-border payments
• Increased convenience and flexibility
• Better control over multiple currency balances
• Modern tools and features for global financial management

Open a multi-currency account today!
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