Multicurrency Account
A multi-currency account is a financial feature that allows you to hold and manage multiple currencies within a single account. Those who frequently travel internationally, work in different countries, or have financial obligations in different currencies may find this type of account particularly useful.
With Revolut you can hold balances in numerous major currencies, such as British Pounds (GBP), Euros (EUR), US Dollars (USD), Japanese Yen (JPY), and 20+ more. It is easy to convert money from one currency to another with the app, often with just a few taps. Before confirming the conversion, the app shows you the current exchange rate and any associated fees.
With Currensea, you can link your bank account directly to your debit card. It is designed exclusively to cover foreign expenses of all kinds. In addition to offering a competitive 0.5% foreign exchange rate on card spend and ATM withdrawals, if you upgrade to Premium (£25/year), you won’t have to pay fees in all 180 currencies.
N26 is a mobile bank with multicurrency account functionality. Thanks to Wise, N26 facilitates international money transfers with accuracy and ease. The hassle-free account features multiple currencies for overseas money transfers at prevailing exchange rates. All of these powerful functions are provided courtesy of the N26 app. It’s easy to send money to friends, family, and colleagues abroad, pay bills overseas, or to transfer funds between international banks. Several dozen currencies (38) are currently supported in the multicurrency account at N26 with Wise.
FinTech disruptor, Paysend recently introduced its Global Account. This features fee-free mobile money services with a multicurrency wallet. Its expressly available to European clients. Among others, the Global Account at Paysend is geared towards tremendous cost savings on currency fees, commissions, and bank charges with international transactions. This multicurrency account allows clients to hold, pay and spend their funds in a multicurrency wallet. Currently, the Paysend solution is functional with the world’s premier 7 currencies, including the CNY (Chinese Yuan). The platform at Paysend uses the mid-market exchange rate, making for seamless currency conversions.