Services / Hold
Multi-Currency Accounts
Get paid in the currency you invoiced in, hold it in your own name and convert once, when you choose to. No opening fee, no monthly fee, and accounts for SPVs, trusts and funds that many providers turn away.
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What is a multi-currency business account?
A multi-currency account holds balances in several currencies at once, so money paid to you in dollars stays in dollars until you decide otherwise. Unlike an ordinary business account, nothing is converted on arrival. Each account is opened in your own name with its own account details, whatever your structure: company, SPV, trust, fund or individual.
Opened in your entity's name
No setup or maintenance fee
GBP, USD, EUR, CHF, AED and more
Suitable for SPVs and trusts
The double conversion
Why does my bank convert my money twice?
Most businesses convert twice and pay for both. Hold the dollars and the round trip never happens.
01
Money in
A US platform settles your sales in dollars. Your account only holds sterling, so it converts on arrival.
02
Conversion one
Dollars to sterling on arrival, at a rate you didn't choose. A margin is taken.
03
Conversion two
Three weeks later a dollar invoice lands, and it converts straight back. A margin is taken again.
Illustrative. What the round trip costs depends on the currencies, the amounts and how often it happens. Holding a balance costs nothing; BLK.FX earns on the conversion only.
Local account details
Which currencies can I collect in with local details?
In four markets your account comes with domestic details in your own name, so whoever pays you sends a local transfer at local cost rather than an international wire.
Sterling
A UK account
A sort code and account number. Sterling arrives over Faster Payments, usually the same afternoon.
Euro
A euro IBAN
Euro payments arrive over SEPA, so a customer in Germany or Ireland pays you as a domestic transfer.
US dollar
A dollar account
A routing and account number for ACH and domestic wires. Stripe, Shopify and Amazon payouts land in dollars.
Canadian dollar
A Canadian account
Canadian dollars arrive over EFT, so Canadian revenue stays Canadian until you decide to move it.
Beyond these four, 31 further currencies are held, converted and paid out as balances.
Who it is for
Who are multi-currency accounts for?
Plenty of foreign exchange firms will open an account for a trading company and quietly decline a trust, a fund or a property SPV. Those are some of the accounts we set up most often.
Sellers
Ecommerce brands
Shopify, Amazon and Stripe settle in their own currency. Withdraw into the matching account and the platform stops choosing your rate for you.
Structures
Trusts and funds
An account in the trust's or fund's own name, with onboarding built around the structure rather than squeezed into a standard business form.
Fiduciaries
Public and audited businesses
Governance, reporting and a named contact who already knows the structure, rather than a fresh explanation every quarter.
Finance teams
Groups and holding companies
One account per entity, so the audit trail matches the legal structure and a finance director has one team to call about all of it.
Common questions
Multi-Currency Accounts, answered.
What does a multi-currency account cost?
Holding costs nothing. No opening charge, no monthly charge, and no charge for moving money between accounts you hold with us. A charge arises only when you convert, typically 0.2% to 0.6% depending on the currency, the size and the timing, agreed with you before the trade.
Is the account in my name, or a pooled client account?
Yours. Your customers see your name, not a broker's, and your finance team reconciles against a payer rather than a reference number. Balances are held with BLK.FX's regulated partners and safeguarded under their licences.
How long does it take to open?
A working day or two once the paperwork is in, via fast, secure online onboarding. Before that comes a short conversation about how money reaches you and which entity it belongs to, so the structure is right from the start.
Multi-Currency Accounts
Count the conversions
you are making twice.
Bring the currencies coming in and the currencies going out. Thirty minutes later you will know which conversions were never necessary, whether or not you open an account here.
Book a call with our team