Remittance network TransferGo has launched an account that lets global businesses based in the UK and EU hold, exchange, send, and receive multiple currencies.
TransferGo says it is moving into business accounts because companies often face high fees, complicated currency exchange processes, slow delivery times, and friction when moving money globally.
The B2B account is built specifically to help companies overcome the complexities of international money management.
Firms get currency exchange rates starting at 0.35%; localised payments with individual IBANs; and a unified financial platform eliminating the need for multiple accounts.
Daumantas Dvilinskas, CEO, TransferGo, says: "Not only do our services solve the various challenges faced by global businesses, but they're up to nine times more affordable than those offered by traditional high-street banks."