FAQ
A multicurrency account is a bank or financial technology company account that allows you to spend, receive, and store different currencies. It can function similarly to a multi-currency overseas checking account with many subaccounts. Instead of creating a new bank account overseas, you can manage payments in a foreign currency. "While credit cards and multicurrency accounts allow you to spend like a local, only multicurrency accounts allow you to send and receive money swiftly," explains Leyla Beriker, Revolut's product owner for U.S. payments.
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The company is launching its "Borderless" account, a new online banking account geared for enterprises, sole traders, and freelancers who need to conduct business across borders and in numerous currencies.
The majority of multicurrency accounts, also known as foreign currency accounts, are only available to businesses and high-net-worth individuals through international or private banking services at banks like Royal Assets Nest.
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