TransferGo launches a multi-currency business account for EU businesses

This service offers global businesses based in the UK and the EU an account through which they can hold, exchange, send, and receive multiple currencies.

The company enters a new market segment in 2025, namely international business. Thus, TransferGo expands its offering to meet the needs of customers and companies.

Solutions for international business growth

Companies often face high fees, complicated currency exchange processes, and slow delivery times when moving money globally. TransferGo aims to remove these barriers by providing a cost-effective platform that offers a simple international payment experience.

The multi-currency business account is built specifically to help companies overcome the complexities of international money management and centralise their operations, saving time and money.

The new service includes rates starting at 0.35%, making international transactions up to nine times cheaper than traditional banking options, according to the company. Another feature is localised payments, as businesses with individual IBANs can receive payments in local currencies, reducing conversion losses, and enhancing cashflow management. Additionally, the unified platform is designed to consolidate financial functionalities, eliminating the need for multiple accounts.

Benefits of multi-currency accounts in Europe

Multi-currency accounts offer numerous advantages that simplify international operations, especially for European businesses facing complex cross-border transactions.

This type of account enables users to send and receive payments in foreign currencies without the delays and added costs often associated with international bank transfers. This efficiency is beneficial for businesses planning to expand internationally.

Multi-currency accounts also offer real-time FX rates, helping businesses monitor and manage their currency exposure. This visibility enables companies to respond swiftly to market changes and protect profit margins.

A multi-currency account solution often incorporates compliance tools for KYC, AML, and other regulatory requirements. This feature is particularly valuable for European businesses navigating different regulations across borders.