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 endless time and money on foreign exchange, and money transfers, which from a traditional bank account would be far more expensive and slow.

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 send funds using a diverse network of payment networks, including SWIFT, SEPA, Target2, Faster Payments, CHAPS, and more.

When you exchange funds from one currency to another, there are low margins added to our exchange rates, and the fees are clearly displayed before you click send.

If you, for example, work with multiple currencies, make purchases in other countries, travel frequently, invest in foreign currencies, pay staff in other countries, or receive payments in other currencies, a multi-currency account can save you time, money, and work compared to a traditional bank account.

Do I need a Multi-Currency Account?

Whether for personal or business use, there is so much more that you can do with a multi-currency account than a traditional bank account. If you make sales or purchases in foreign currencies, work freelance or pay overseas staff, make frequent currency exchanges, or hold funds in more than one currency then a multi-currency account is definitely for you. The era of being restricted by a traditional bank account is over. Modern business and life is international. A multi-currency account allows you to swiftly and cheaply move your money across borders and currencies.

• What can you do with a multi-currency account?
• Make payments in 38 currencies
• Accept payments in 34 currencies
• Pay staff around the world with low to no fees
• Easily withdraw funds to your bank account
• Send free transfers to/from Payset accounts
• Use both international and local payment networks
• Manage all payments from one dashboard
• Enjoy excellent reporting features
• Pay partners and staff in their chosen currency
• Collect global payments in your own currency
• Reach more clients, staff, and partners in more regions

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

• Global Payroll
• E-commerce
• Freelancers
• Affiliate Programs
• Start-ups
• Marketplaces
• Import/Export‍

The Benefits of a Multi-Currency Account Over a Traditional Bank Account

The benefits of a multi-currency account from Payset over a traditional bank account are numerous and include:

• Lower transaction fees
• Simpler, cheaper foreign exchange
• Speed of transaction
• Convenience for your customers
• Convenience for your suppliers
• Convenience for you, the administrator

Learn more about the benefits here.

Open a multi-currency account today!

‍Payset makes cross-border banking easy, affordable, and secure. We are among the world’s premiere online payments solutions. Based in London, England, we make payments easier for clients around the world every day. Choosing Payset for your multi-currency account means choosing personal service, advanced security, and modern convenience.

Sign up to see for yourself.