MULTI-CURRENCY COLLECTION ACCOUNTS
Simplify Global Payments
One account. Multiple currencies. Zero hassle.
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One Account, Multiple Currencies, Endless Possibilities
Tired of juggling multiple bank accounts and losing money to hidden fees? Our Multi-Currency Collection Accounts streamline your international transactions, allowing you to receive payments in various currencies and manage them all in one place.
Why Choose Multi-Currency Collection Accounts?
Streamline your international payments and gain control over your global finances.
Cost Savings: Avoid bank fees and unfavourable exchange rates by receiving payments directly in your clients’ local currencies.
Simplified Management: Consolidate your international finances into a single, easy-to-manage account.
Improved Cash Flow: Access your funds faster and improve your cash flow with streamlined payment processing
Enhanced Client Experience: Offer your clients a convenient and cost-effective way to pay you in their preferred currency.
Flexibility: Hold funds in multiple currencies or convert them at competitive rates whenever you need to.
Hands-Off Convenience: Set your orders and let our system do the work, freeing up your time to focus on other aspects of your business
Seamlessly Collect Payments Worldwide
Our Multi-Currency Collection Accounts support both local and SWIFT collections, making it easy to receive payments from anywhere in the world.
Local Collections:
Receive USD, EUR, and GBP payments locally, ensuring faster processing and reduced fees.
Swift Collections:
Receive 38+ Currency payments with your Named Multi-Currency Iban.
Seamless Global Collections
Our Multi-Currency Collection Accounts make receiving payments from clients around the world effortless:
Open an Account: Set up your Multi-Currency Collection Account quickly and easily.
Share Your Details: Provide your clients with your unique account details for their local currency.
Receive Payments: Clients pay you directly in their local currency, avoiding unnecessary conversion fees.
Manage Your Funds: Hold, convert, or transfer funds between currencies as needed, all within your account.
Simplify Your Global Payments Today
Open a Multi-Currency Collection Account and experience the convenience and cost savings.
We’re more than just money transfers.
At Provision Currency, we're more than just a foreign exchange provider. We're your strategic partner, dedicated to making global transactions simple, secure, and successful. Our partnership with a world-leading technology platform allows us to offer competitive, bank-beating exchange rates and lightning-fast remittance services, ensuring your money moves efficiently across borders.
We understand that every client is unique. That's why we offer tailored FX solutions for businesses of all sizes, from large corporations to ambitious SMEs, as well as private individuals with diverse financial needs. Our team of experienced account managers is always on hand to provide expert guidance and support, ensuring you have the tools and knowledge to navigate the complexities of the global currency market.
Data
Protection
ProVision Currency and The Currency Cloud Limited is registered with the UK Data Protection Act.
Client’s personal data shall be obtained only for specified and lawful purposes.
Segregated Client Accounts
All funds are sent to segregated client accounts held with our banking providers. The client accounts are ring-fenced from the company’s funds, and therefore protected from the unlikely event of any financial difficulties within the company. Clients money always stay separate to any of our liquidity.
Safeguarded Bank Accounts
The Client’s accounts are ring fenced from the company’s funds so your money remains protected at all times. Our partners stop safeguarding your funds once the money has been paid out.
Data
Security
Certified under ISO/IEC 27001:2013, the international best practice standard for information security management. Registered with FinCen in the United States and authorised in 22 states to transmit money
Need Help?
Find Answers Here
We’re here to help! Browse our FAQ section for answers to common questions about our services, fees, and security measures. If you need further assistance, don’t hesitate to reach out – our team is always happy to help.
What are the advantages of using Provision Currency's Multi-Currency Collection Accounts over traditional bank accounts?
Our Multi-Currency Collection Accounts offer several advantages over traditional bank accounts, including:
- Competitive exchange rates that often beat those offered by banks.
- No hidden fees or charges, ensuring transparency and cost savings.
- The ability to hold and manage multiple currencies in one place, simplifying your international finances.
- Streamlined payment processing, leading to improved cash flow.
Can I use a Multi-Currency Collection Account for both personal and business transactions?
While primarily designed for businesses, our Multi-Currency Collection Accounts can also be beneficial for individuals who frequently receive payments in different currencies or have international financial interests.
How do I access and manage my Multi-Currency Collection Account?
You can access and manage your account 24/7 through our secure and user-friendly online platform. You’ll have full visibility of your balances, transaction history, and can easily convert or transfer funds between currencies.
What currencies are supported by Provision Currency's Multi-Currency Collection Accounts?
We currently support over 38 currencies, including all major currencies and many emerging market currencies. Our list of supported currencies is constantly expanding, so please check our website or contact us for the latest updates.
What is a multi-currency account?
A multi-currency account allows you to hold and manage funds in multiple currencies within a single account. This eliminates the need for multiple bank accounts and simplifies international transactions.
How can a multi-currency account benefit my business?
A multi-currency account can help your business save on currency conversion fees, improve cash flow, and streamline international payments. It also offers greater flexibility and control over your global finances.
What are the fees associated with multi-currency accounts?
Fees can vary depending on the provider and specific account features. At Provision Currency, we offer transparent pricing with no hidden fees, ensuring you have a clear understanding of the costs involved
Is it safe to use a multi-currency account for international transactions?
Yes, multi-currency accounts are generally safe when using a reputable and regulated provider like Provision Currency. We prioritize the security of your funds and data, employing robust measures to protect your account and transactions.
What is the difference between a local collection and a SWIFT collection?
Local collections involve receiving payments in the same currency as your account’s base currency, typically resulting in faster processing and lower fees. SWIFT collections allow you to receive payments in various currencies from virtually any country, offering greater flexibility but may involve longer processing times and additional fees.
How can I avoid losing money on currency conversions?
Compare exchange rates from different providers, time your transactions strategically, and consider using a multi-currency account to minimize conversion fees.
What are the tax implications of holding multiple currencies in one account?
The tax implications can vary depending on your country of residence and the specific circumstances of your transactions. It’s advisable to consult with a tax professional for personalized advice.
Can I use a multi-currency account for personal travel expenses?
Yes, a multi-currency account can be a convenient way to manage your finances while traveling abroad. You can load multiple currencies onto your account and avoid high conversion fees when making purchases or withdrawing cash in different countries.