Multi-currency account

A multi-currency account holds balances in several currencies at once, so a business can receive, store and pay out in each one directly — without forcing every transaction back through a single home currency.

How it works

• One account carries separate balances per currency — say GBP, EUR and USD.
• Money comes in as the currency it was sent in, and stays there.
• You pay out in that same currency, converting only when you choose to.

The difference from a single-currency account is timing: instead of converting on every payment (and paying a spread each time), you convert once, deliberately, or not at all.

Why it matters

A business earning and spending in several currencies bleeds money on round-trip conversions — euros in, converted to pounds, converted back to euros to pay a supplier, an FX markup taken on both legs. Holding each currency until it’s needed removes those needless conversions, which for a cross-border operator is a steady, invisible saving.

How Fynex does it

Fynex handles collections and payouts in multiple currencies and gives sellers a marketplace wallet — a stored, multi-currency balance — so money is held in the currency it arrived in and only converted when it makes sense. See multi-currency accounts for software companies.