One account to rule them all,
One Account to find them,
One Account to bring them all and in the darkness bind them!
We are living in a world which is totally online. Being an ecosystem worldwide, the internet does not fit anywhere and overflows until the tribes in Amazon. The borders of the countries are just on maps now. In addition to globalization of financial transactions, the financial institutions have realised that they can not keep on limiting their services.
At the beginning of the list underlining our differences, we can place currencies. Numerous countries hold their own currencies and these currencies are quoted at a price depending on offer-demand balance. The price can have fluctuations and as an unstable asset, it can be challenging to utilize from various fiat currencies for an international merchant. One of the solutions is to open a bank account in the region you want to work with. But we must warn you that this method can be time consuming and much more pricey than you plan. Plus, every country has different regulations to create accounts. What about all these transfer fees you need to pay to send and receive? International money transfers can be pretty pricey and complicated. Particularly for inchoative businesses, it can be a disappointing situation to mess with these fees and costs. Therefore, it is also an extra paperwork and cost to have multiple different bank accounts worldwide.
What is a multi-currency account?
Multi currency accounts are the saver of merchants who want to serve their products internationally. What is a multi-currency account? It can be basically defined as an account enabling your company to send, receive and store more than one certain currency. These accounts open a new age and expands your market rapidly once you create one. Since you gather all your accounts in one single account with the same account number and SWIFT code, you will have a smoother accounting system. No multiple tax regulations! No mess! No misunderstanding! We are not done yet in counting the benefits of a multi currency account. Wait for it!
What are the advantages of a multi currency account? Operating in a global economy and earning a reputation for your business are parallel to your international approach towards other countries. You can not limit yourself with a small number of currencies such as American Dollars, British Pound Sterling or Euro. No! New financial world is much greater than this.
Since the generality of the suppliers are from China and South Korea, two of the most demanded fiat currencies are Chinese Yuan and South Korean Won. However, Australian Dollar, Hong Kong Dollar, Singapore Dollar, Japanese Yen, Chinese Yuan Indian Rupee and Turkish Liras are also placed in various multi currency accounts. All these currencies will be managed in a reliable foreign exchange which will be much cheaper than converting in challenging exchange rates. According to the trends, you can choose to take a position and keep your money in an advantageous currency that you feel safe inside. Moreover, multi currency accounts have reliable processing speed. Therefore, it provides stronger trust bonds between suppliers.
Jeton is a spectacular e-wallet giving you the opportunity to create a multi currency account to open your wings in the international market and expand your business outside your domestic circle. Supporting more than 50 fiat currencies in 100+ countries, we are a great choice for foreseeing and innovative businesses.
Join our Jeton community today and start benefiting from a great deal of advantages that we serve you!