Best multi-currency business accounts in the UK [2025]

If you're a UK business owner, getting a multi-currency business account allows you to receive payments from overseas customers conveniently, hold and exchange foreign currencies in one account, and send money internationally for payroll or to foreign suppliers.

However, many UK banks don't offer a true business multi-currency account for smaller businesses. Instead you can only hold single currencies in any given account, which can be inconvenient and involve high fees. Specialist providers like Wise and Revolut can be good alternatives.

In this article, we'll cover what you need to know about opening a multi-currency account, including the best options in the UK, the costs involved, and how to open one.

Key points: Business multi-currency accounts in the UK

Can a UK business have a foreign bank account?

Yes. You can open a business multi-currency account in the UK, with a specialist provider, or with a small number of familiar banks.

It's helpful to know that many UK banks do not offer multi-currency business accounts for smaller companies – instead their multi-currency features are aimed at large corporations looking for services like global treasury management.

For small businesses the key international products usually available are single currency foreign currency accounts for saving and investing.

The good news is that aside from banks, there are also plenty of specialist alternatives such as Wise and Airwallex, which have powerful international accounts for businesses in the UK, supporting multi-currency holding and more. This guide walks through some of your top options, so you can decide which works best for you.

What is the best multi currency account for business?

There are quite a few different options in the UK for multi-currency business accounts – which means you'll need to do some research to get an idea of what might suit your specific needs.

To give you a flavour, we've picked out a few different options to start you off – including one bank – HSBC – and specialist alternatives Wise or Airwallex.

Here's an overview:

Details correct at time of writing – 28th April 2025

Wise Business account

Wise Business offers multi-currency accounts which support 40+ currencies for holding and exchange, and currency conversion with the mid-market rate and low fees.

You can also receive payments with local and SWIFT account details in 20 currencies, and issue debit and expense cards to make overseas spending and cash withdrawals easier.

Cards are offered as virtual and physical cards, for Chip and PIN, contactless and mobile payments, as well as cash withdrawals. Other perks include batch transfers, accounting integrations, multi-user access, and a powerful API to streamline workflow.

• Low cost payments – Send to 140+ countries with the mid-market rate and low fees

• Get paid by others – Receive payments from customers and clients with low or no fee

• Low cost – No ongoing account management cost

Wise fees

Details correct at time of writing – 28th April 2025

Revolut business account

Revolut Business has 3 different set plans for UK businesses, and also offers the option to custom make your plan as an enterprise level customer. All accounts offer weekday exchange with the Revolut rate to plan limit, with fair usage and out of hours fees depending on how you transact. You'll also get cards for you and your team, and ways to get paid by others without being forced to convert currencies. Depending on the plan you pick you could get other international features like no fee international payments.

• Hold and exchange – Accounts support 25+ major currencies

• Cut conversion costs – Receive in foreign currencies and you won't need to convert payments in foreign currencies to GBP if you don't want to

• Get payment cards for you and your team - Making spending and withdrawing cash easy around the world

Revolut fees

Details correct at time of writing – 28th April 2025

Airwallex business account

Airwallex has multi-currency business accounts which are optimised for online sellers and people taking customer card payments. You can open local accounts to receive payments in 20+ currencies, and there are ways to get paid by PSPs and platforms, as well as through card payments in different currencies.

You can get virtual and physical debit cards to make business spending easier, although no ATM withdrawals are allowed.

• Receive and hold – Receive and hold 20+ currencies in one account

• Get paid from overseas – Take bank and card payments from all over the world

• Issue debit and expense cards – Instant virtual cards and the option for physical cards for in person spending

Airwallex fees

Details correct at time of writing – 28th April 2025

HSBC Global Wallet business account

The HSBC Global Wallet Account supports 9 major currencies holding and exchange, with 6 of these also offering ways to receive local transfers conveniently. This allows you to easily take customer payments or use your local details in foreign currencies to connect to marketplaces and PSPs. You'll also need an HSBC business bank account in GBP before you can add in the Global Wallet, and you may find there are fees to pay for this underlying account, depending on which you select. The wallet is intended as an add on service, and as such doesn't come with its own debit card, but you can use it as a way to move your funds between currencies for sending payments and withdrawing to GBP later.

• Receive payments– Receive money in 6 currencies

• Manage currency risk - Hold foreign currencies to hedge against exchange fluctuations

• No ongoing fees - transaction fees apply, but there's no monthly charge for this account

HSBC Global Wallet fees

Details correct at time of writing – 28th April 2025

What is a multi-currency business account?

A multi-currency business account lets you manage your business finances in several different currencies, all in one account.

This means you can receive payments in foreign currencies, send money to others overseas, spend when you travel for business, and purchase goods online with your card in foreign currencies, more conveniently.

Here are a few of the key benefits of getting a multi-currency account for your UK business:

• Receive payments from customers and clients in foreign currencies

• Hold a balance in foreign currencies – so if you receive a foreign payment you don't need to convert to GBP immediately

• Use local account details in foreign currencies with PSPs like Stripe or marketplaces like Amazon to access your income from overseas

• Make convenient foreign currency payments to contractors and suppliers, or to cover overseas tax

• Some accounts offer a debit card you can use to spend and make cash withdrawals in the UK and abroad

How to open a business multi-currency account in the UK

The way you open your business multi-currency account can vary a lot depending on the provider you pick. You can often open your account online – particularly if you pick an alternative digital service like Wise. Or you may need to call the bank or make an appointment to visit to arrange your account.

Here are the basic steps you will need to follow:

1. Choose the best provider for your needs

2. Check you meet any eligibility criteria

3. Register for your account in a branch, online, or through the provider app

4. Give your personal, business and contact information

5. Complete the required verification steps

6. Fund your account – and you're ready to go

When is a multi-currency account needed for businesses?

If you trade internationally or use overseas suppliers or contractors, a multi-currency account can be helpful.

Here are a few times you may consider using a multi-currency account:

• Get paid by customers overseas – allow customers to pay in their home currencies, either by direct bank transfer or through a platform or PSP

• Pay suppliers and contractors – make simple low cost international business payments to cover your costs overseas

• Spend in foreign currencies for your business – shop online and when you travel in foreign currencies, with low or no fees

• Hold a balance in a foreign currency – there's no need to convert your money back to GBP if you don't want to, lowering the costs of currency exchange

How to choose the right multi-currency business account for your needs

You'll need to shop around to find the right multi-currency business account for your specific needs. Our list of providers can give you a good place to begin your research.

Here are a few things to think about when you're choosing a business account for your international business:

• Currencies supported – make sure your chosen account offers all the currencies you're likely to need regularly

• Account opening or monthly fees – keeping down ongoing costs means you keep more of your protifs

• Currency conversion costs – look out for exchange rate markups which make it more expensive to convert currencies when you send or spend money

• Transfer fees – read your account terms carefully to understand the costs of transferring money out of your account when you need to

• Debit card availability – if you'll want to use your account to spend overseas, check if you get a card as a standard

Are multi-currency accounts safe to use?

Provided you pick properly licensed and regulated services, which have good security measures built in, a multi-currency business account is safe to use with normal precautions.

Check if your provider has a proper license for the services it offers, and take a look at a site like Trustpilot to see reviews from current customers and learn more about how the account works day to day.

Conclusion: What is the best multi-currency business account?

There's no single best multi-currency business account in the UK. You can find a few options from banks – but not as many as you might hope as generally the services are tailored towards very large corporations.

If you have a smaller business and want a flexible way to manage your money across currencies, you might choose an alternative provider instead, such as Wise, Revolut or Airwallex.

These options offer accounts with no ongoing fees, great exchange rates and simple ways to transfer money to others, just with your phone.

• Multi-currency business accounts can help any business which has customers, contractors or suppliers overseas

• Using a multi-currency business account can help to cut the costs of currency exchange when you receive and send international business payments

• While some banks have multi-currency business accounts, not all are available for smaller businesses

• Specialist alternatives like Wise or Airwallex can be a great low cost alternative

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