Open domestic and foreign currency accounts in minutes
Open multi currency accounts without visiting a bank branch. Start collecting payments from customers in their preferred currency.
Unlock your global revenue streams with a foreign currency account
Trade globally, without the red tape
Reduce the investment and operational overheads of establishing in new markets. Open foreign currency accounts in the US, UK, Europe, Hong Kong, Japan, Australia, Canada and Singapore, all without leaving the office.
Collect in foreign currencies
Needing to collect and spend in currencies like the Japanese Yen or the Euro? Use our Global Accounts to collect your sales proceeds and spend them later in the same currency. Eliminate the unnecessary conversion fees.
Save when bringing your money back
Convert all the currency balances in your wallet into your home currency and withdraw funds in seconds. Improve your company's bottom line with our competitive exchange rates so you could get more from each conversion.
Easily sell online internationally
Save time with Airwallex Global Accounts
Create local accounts in over 11 currencies at the click of a button. Skip the bank queues and excessive paperwork involved in setting up traditional bank accounts.
Integrate with global online marketplaces
Seamlessly integrate with global platforms like eBay, Shopify and Paypal. Start collecting in local currencies.
Reduce excessive conversion fees and keep more of your profits with access to our interbank FX rates plus a small markup.
Make bookkeeping a breeze
Quick and easy integration
Link your Airwallex and Xero accounts in just a few clicks.
Multi-currency transaction syncing
Automatically sync your multi-currency Airwallex transactions to Xero, alleviating tedious data entry.
Ensure your Xero transaction records are up to date for your accountant or bookkeeper.
What is a foreign currency account?
A foreign currency account is a transaction account that allows you to receive, hold and send funds in foreign currencies. You can make and receive payments in currencies such as USD, EUR and CNY, without needing to open a bank account in the respective country.
Deliciou opens in the US, UK & EU from day one. Saving 12 months by simplifying their finance processes.
By using Airwallex, Deliciou has instant access to global accounts in the US, UK & EU. This has saved the Deliciou team over 12 months of administration time establishing dedicated banking relationships in each region. With 80% of Deliciou’s business coming from the US & UK, Airwallex has been critical to their international growth. Having access to multiple currencies in one platform has also resulted in over A$24,000 per month in FX and international fee savings.
saved from setting up local accounts
See how our business accounts compare to the big 4 banks
Review foreign currency account options feature for feature with our Airwallex Business Account.
Frequently Asked Questions
How does a foreign currency account work?
A foreign currency account allows you to hold funds in multiple foreign currencies.
By comparison, a regular transaction account forcibly converts funds in and out of your home currency with every transaction, incurring fees in both directions.
We knew this was wasting people’s money and discouraging businesses from expanding internationally, so we created something better.
What is a foreign currency account used for?
A foreign currency account can be used instead of a traditional bank account to avoid unnecessary conversions and save on everyday expenses.
You can also hold funds in a foreign currency and choose a time to convert when the exchange rate is favourable or until you really need them in your home currency.
How do I transfer money to a foreign currency account?
If your foreign currency account is with the same provider as your home currency account, this should be a transparent and straightforward process.
Exchange rates fluctuate constantly, but businesses need more certainty than that.
With an Airwallex business account, you can schedule transfers for a future date at the exchange rate offered on the day or at the market rate on the future date.