Manage global payments with a multi-currency business account

Business

What is a multi-currency business account?

In an increasingly globalized economy, businesses must manage transactions across borders efficiently. A multi-currency business account is a financial tool designed to simplify international trade by allowing companies to hold, send, and receive money in multiple currencies—all from one central account.

Whether you’re paying overseas suppliers, billing international clients, or expanding into new markets, a multi-currency business account removes the friction associated with currency conversion and international banking. It offers businesses greater control over exchange rates, faster settlements, and improved financial transparency—all essential for succeeding on the global stage.

Key features and benefits

A multi-currency business account is more than just a convenient way to hold different currencies. It is an essential resource for companies looking to thrive in global commerce. Here are the core benefits:

1. Simplified global payments

Manage incoming and outgoing global payments from a single dashboard. Whether you’re working with partners in Europe, Asia, or North America, you can send and receive funds in their local currencies without incurring excessive fees.

2. Cost efficiency

Reduce your dependency on third-party currency exchange services and avoid double conversion fees. By holding funds in the currency of your choice, you gain better control over when and how to exchange money.

3. Faster international transactions

Traditional cross-border transfers can take several days. A multi-currency business account supports faster settlements, especially within SEPA and SWIFT networks, helping improve cash flow and supplier relationships.

4. Improved financial reporting

Consolidating multiple currencies in a single platform allows for clearer accounting and better decision-making. You’ll be able to see your foreign balances in real-time and manage currency exposure effectively.

Currencies supported

One of the standout features of the Satchel multi-currency business account is the broad range of supported currencies. Businesses can hold and transact in over 20 different currencies, including but not limited to:

  • Euro (EUR)
  • US Dollar (USD)
  • British Pound (GBP)
  • Swiss Franc (CHF)
  • Japanese Yen (JPY)
  • Polish Zloty (PLN)
  • Hungarian Forint (HUF)
  • Canadian Dollar (CAD)
  • Chinese Yuan (CNY)
  • Australian Dollar (AUD)

This variety gives businesses the flexibility they need to operate smoothly across diverse markets and avoid unnecessary conversions.

Use cases for international businesses

A multi-currency business account is an invaluable tool for a wide range of industries. Here are a few practical examples of how different businesses benefit:

1. E-commerce companies

Online stores selling products globally can receive payments in local currencies and pay suppliers without converting funds unnecessarily, improving margins and customer satisfaction.

2. Freelancer platforms and marketplaces

Platforms that manage freelancers or sellers from around the world need to handle payouts in various currencies. Multi-currency accounts help streamline this process efficiently.

3. Import/export businesses

Companies involved in international trade can reduce FX risk and manage payments in foreign currencies directly, making their operations smoother and more cost-effective.

4. Startups expanding globally

Early-stage startups entering new markets can benefit by offering localized payment options and managing international transactions more strategically.

5. Consultancy and professional services

Agencies and consultants working with international clients can invoice in multiple currencies and receive payments faster, without hidden conversion fees.

How to apply

Opening a multi-currency business account with Satchel is a straightforward process tailored for modern businesses. Here’s how to get started:

  1. Online application: Begin by filling out a simple form on the Satchel website. You’ll need to provide standard business documents and ID verification for the company representatives.
  2. KYC & compliance check: Satchel compliance team will review your documents in line with the EU regulatory standards.
  3. Account setup: Once approved, you’ll receive access to your multi-currency dashboard, where you can start holding and transacting in various currencies immediately.
  4. Ongoing support: Satchel offers dedicated customer support and account management to help you navigate your international finance needs.

Whether you’re scaling a startup or optimizing an established enterprise, a multi-currency business account is a smart step toward financial efficiency and global reach. With Satchel secure and user-friendly platform, you can manage international payments with confidence, reduce costs, and accelerate your growth in the global market.