A multicurrency account is a type of demand deposit account that allows you to send, hold and receive various currencies in one place. In other words, a multicurrency account allows you to make and receive payments in foreign currencies without needing to open several foreign accounts. An account holder can easily make transactions between different currencies with a single account number.

Multicurrency accounts can include dozens of currencies. At minimum, they usually include the following:

• U.S. Dollar (USD)
• Canadian Dollar (CAD)
• Euro (EUR)
• Australian Dollar (AUD)
• Hong Kong Dollar (HKD)
• Singapore Dollar (SGD)
• Japanese Yen (JPY)

How does a multi-currency account work?

A multicurrency account makes international transactions relatively quick and inexpensive. It works like a regular bank account. You can deposit money, make withdrawals, send and receive payments, and—depending on the account—potentially earn interest.

When you receive payments in foreign currencies, you can keep the money in that foreign currency or convert it to our local currency. The ability to hold various currencies and convert them when you want allows you to take advantage of exchange rates.

Our multi-currency account comes with debit/master card to make international payments easy.