What is a Multi-Currency Account?

Globalization has affected our view of the world in many ways. The current financial ecosystem spreads out to every single financial establishment from a tiny cocoa farm in Ivory Coast to enormous automobile companies in Japan. In such a world, if you are willing to make quite a name for your business worldwide, you must learn how to mingle with other countries. Because there is no space in today’s market for contradictious establishments. In order to be worldwide known and expand your target market, you need to take solid steps towards other players in the game. One of the first steps is providing payment solutions with various fiat currency accounts. Therefore, they can utilize their native currencies in payments during your mercantile. This revolutionary plus will improve trading functionality for both sides and make everything smoother and easy.

Multi-currency account

But what is a multi-currency account exactly? We can simply define a multi-currency account as a type of bank account that enables your business to access, receive and hold more than one currency. Thanks to this service, you can easily operate international money transfers around the world. 

Before multi-currency bank accounts, companies used to open an account in every single country they operate. This was a hardship for entrepreneurs with any budget. Transaction fees, transfer costs, taxing complexity, exhausting delays, miscommunications and time consuming planning! Phew! But all over now! Today, individuals and businesses operate all their transactions in one single account with the same account number and SWIFT code. This also prevents suppliers and consumers from any misunderstandings among messy numbers. 

United States Dollars and Euros are the most common and demanded fiat currencies for sure. But what about Great Britain Pound Sterling, Australian Dollar, Hong Kong Dollar, Singapore Dollar, Japanese Yen, Australian Dollar, Chinese Yuan or Indian Rupee? Every single online banking service will have its own variety. Thus, please double check the currency lists before creating a multi-currency bank account for your company. 

At this very point, Jeton Business distinguishes itself from others and steps forward in the sector. Taking the innovation principle as its pillar, Jeton has been providing individual and business multi-currency accounts for a long while. Our company serves more than 50 fiat currencies in 100+ countries. With our J-Connect technology, your business has no borders and you may direct all these transactions from one single account. 

Furthermore, an international money transfer from an actual bank can cost up to 3% – 6% including network fees and recipient’s bank fees. For this reason, multiple vendors switch their traditional bank accounts into alternative solutions like Jeton. Our fees are always affordable and pretty under the average of the current market. 

International vendors also struggle with Forex (Foreign Exchange) during their transactions. We all know most of the fiat currencies have high volatility and conversion in specific pairs can be tedious when the exchange rate is not in your favour. The good news is that a multi-currency account will help you to exchange the currencies in pairs with much better exchange rates. You can even wait until a favorable exchange rate offer. There is no rush! If you have adequate funds, it is also possible to take a position depending on exchange rate and store it in your account for further need. 

No matter what size your company is, if international trade of goods and services is a business routine of yours, you definitely need an account accepting multiple currencies to remain standing successfully in this competitive international market. 

Come and visit our attractive offers in Jeton. Let us bring value and ease to your business plan with our advantageous multi currency accounts. 

Do you still have question marks? 

Our 24/7 Jeton live support is ready to happily assist you by replying to all your questions about all of the products. 

0 CommentsClose Comments

Leave a comment