The Best Multi-currency Business Accounts

Airwallex is a top choice for businesses as it offers a multi-currency business account with 14 local accounts. More than any other provider on the market.

When testing we found that the rating for its business offering has been steadily increasing over the last 18 months.

Overall, Airwallex offering is wide-ranging and well-rounded. The coverage is strong and exchange rates on transfers (at 0.5%) are competitive.

The Wise business account offers access to 10 local currency accounts, integration with various account softwares and the best cost of transferring on the market. This cost of sending money through the Wise Business account is conversions at the mid-market rate, plus a 0.33% fee on transactions.

Where the offering is lacking slightly is on support, it is pretty much an online only platform.

There’s also no card support as standard, so for ecommerce businesses it results in a slightly weaker option.

Something to note, cards are not currently being issued in the US. There is currently no confirmation from Wise on when these will become available again.

Payoneer is a multi-currency business offering that provides access to 9 local accounts in total, has some nice integrations with things like Upwork for freelancers and is great for growing businesses.

It is third on our list overall because it does not offer guaranteed rates or forward contracts like Airwallex and Wise Business.

Also, card payments are limited to USD, GBP, EUR and CAD. Outside of these currencies a 3.5% fee will be added on top of spending.

Depending on where businesses spend, this cost could change the value of the account considerably.

OFX Business offers 7 local accounts. These are across the core markets like USA, Canada, Europe and the United Kingdom.

OFX is lower down our list than Airwallex and Wise Business because it does not offer such a wide-range of products and services, although its multi-currency account option is strong.

The account comes with the ability to pay suppliers and staff, with batch payments being limited to 500 per transaction. This compares to the 1,000 widely seen and the 5,000 offered by Sokin.

The account has a Xero and Amazon marketplace integration as standard, as well as API support.

Sokin is a relatively new option to the business multi-currency account space and offers 4 local currency accounts and access to IBANs in multiple currencies. Whilst it does come with limitations, it’s an option for businesses with regular payments in mind.

The account allows you to make up to 5,000 batch payments, making it the best option for mass business transfers. It also offers a 1.2% transaction fee on incoming international card payments, compared to the likes of Airwallex where this amount is 4.8%.

Revolut Business offers access to GBP and USD local accounts, and payments too and from around 40 more countries.

The account is convenient in places, but comes with a monthly fee (which others do not) and transfers at the mid-market rate are capped at $1,000 on the basic account and $10,000 on the Grow account.

This being said, the ability to send and receive money is easy to use and the account offers a huge amount of card support options. Up to 200 virtual cards per account can be issued. These can be used for spending, although conversion rates will be paid at the time of transaction.

Like Sokin, Multipass is a relatively new product offering the ability to transact in around 70 currencies. Local accounts are only available in the UK or EURO however.

Multipass makes our list of the better accounts in part due to scope of the product, despite its relatively new (and smaller offering).

The company offers local accounts, card payments, batch payments and international money transfers for businesses. The difference here to someone like Wise Business, where the product is more developed, is that it feels very much like an MVP product at this stage.

Although it is new, the company is fully regulated and offers a decent multi-currency option.