- Access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
- Established businesses who switch to Barclays have access to a team of industry sector experts and specialist services.
- ** Terms and conditions apply per partner, see partner website for details.
Promoted
Tide Banking
Business Current Account
Free banking duration
Ongoing
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
Various credit options available
*CASHBACK OFFER - Enter code 150BOOST when you sign up for a Tide business bank account T&C's apply
Earn 4.07% AER each month when you open a business savings account T&Cs apply
Register a company for only £14.99
Barclays
Start-up business account
Free banking duration
No monthly fee in the first 12 months. T&Cs apply
Monthly fee
£8.50
Interest
0% AER
Credit facility
Please see 'Credit facilty' information
No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
*Businesses with existing Barclays business current accounts aren't eligible for 12 months no monthly account fee. After 12 months, you'll pay £8.50 per month.
*Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details.
Allica Bank
Business Rewards Account
Free banking duration
Having less than £50,000 in the account may earn a reduced rate of interest and may incur fees
Monthly fee
No monthly fees
Interest
4.08% AER* (variable) instant access Savings Pot
Credit facility
None
Seamless money management at no cost using integrated accounting tools like Sage and Xero
Your business must be over 1 year in age and you must have a greater than £50K balance or an exisiting Allica's Loan Product Customer
Get a dedicated relationship manager
Airwallex
Business Account
Free banking duration
No monthly fee if you deposit at least £10k per month or hold a minimum balance of £10k
Monthly fee
£19.00
Interest
0% AER
Credit facility
None
Multi-currency accounts with local bank details in 12 markets
+180 countries from which you can accept payments with local currency and local payment methods
Integration with popular platforms like Xero, Shopify, WooCommerce, Amazon and more.
*10% cashback on the first US$1000 international card spend
Zempler Bank (formerly Cashplus)
Business Bank Account
Free banking duration
Ongoing
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
Business overdraft available upon invitation
Apply in minutes
No monthly or annual fee
Helpful UK based telephone customer service
Barclays
Business account (up to £400k turnover)
Free banking duration
No monthly fee in the first 12 months. T&Cs apply
Monthly fee
£8.50
Interest
0% AER
Credit facility
Please see ‘Credit facility’ information
No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
*Businesses with existing Barclays business current accounts aren't eligible for 12 months no monthly account fee. After 12 months, you'll pay £8.50 per month.
*Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details.
Barclays
Business account (£400k-£6.5m turnover)
Free banking duration
No monthly fee in the first 12 months. T&Cs apply
Monthly fee
£8.50
Interest
0% AER
Credit facility
Please see ‘Credit facility’ information
No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5000**
*Businesses with existing Barclays business current accounts aren't eligible for 12 months no monthly account fee. After 12 months, you'll pay £8.50 per month.
*Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details.
Revolut Business
Revolut Business Basic Account
Free banking duration
Ongoing
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
None
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply
Business account: hold, send and receive funds in 25+ currencies, exchange up to £1,000 at the interbank rate and only 0.6% fee for anything over this allowance. 1% for exchanges outside market hours.
Free smart debit cards for you and one team member: track and control spending in real-time
NatWest
Business Bank Account
Free banking duration
2 Years
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
None
FreeAgent is included as long as you retain your account
A dedicated Relationship Manager - a single point of contact to look after your business banking needs (turnover and eligibility criteria apply)
NatWest
Startup Business Bank Account
Free banking duration
2 Years
Monthly fee
No monthly fees
Interest
0% AER
Credit facility
Credit options available
FreeAgent is included as long as you retain your account
No transaction fees for 2 years (then standard tariff applies)
Limited offer
CardOneMoney
Business Account
Free banking duration
No monthly fee for three months
Monthly fee
£12.50
Interest
0% AER
Credit facility
Not available
No credit checks & available to all business types
*LIMITED OFFER* Free business account for 3 months
Application takes minutes and your business account can be open on the same day you apply
Our comparison service features a selection of providers from whom we receive commission. This table is ordered according to our commercial arrangements.
We only work with providers who we trust to provide a great deal and a fantastic service.
How We've Helped Others with Their Multi-Currency Banking
Finding the right Foreign Exchange (FX) business bank account can become time-consuming, but we're here to help. We can help you:
Quickly and easily compare Business Bank Accounts
Switch Multi-Currency Bank Accounts
Open a new Foreign Currency Account
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Your business needs a good credit score to access the best rates on business finance solutions. Click the link below to learn more about the importance of credit building and credit scoring for your business, including how to check your business credit score for free at
Why Compare FX Bank Accounts with Us
We assist businesses in securing the best Multi-Currency Bank Accounts UK-wide. Whether you need to open a multi-currency account for the first time or want to switch, it’s crucial to compare deals and find the most suitable provider.
What is a Multi-Currency Account?
A specialised Multi-Currency or Foreign Exchange Business Account is crucial if your business is engaged in international trade or operating across multiple currencies. These accounts offer a range of features tailored to the needs of companies dealing with foreign currencies.
Like traditional Business Bank Accounts, FX Business Accounts provide essential banking services such as online account management, overdraft facilities, and mobile apps for convenient transactions. However, they also offer the added advantage of seamlessly managing transactions in multiple currencies.
With a Multi-Currency Account, businesses can conduct transactions in various currencies without the hassle of constantly converting funds. This flexibility not only streamlines operations but also minimises the impact of currency fluctuations on financial performance.
The Advantages of Using a Multi-Currency Bank Account
One of the primary advantages of using a dedicated Multi-Currency Bank Account, or Business Foreign Exchange Account, is the enhanced ability to manage finances across multiple currencies. With a Business FX Account, you can easily track and reconcile transactions in different currencies, simplifying the process of calculating business spending, earnings and expenses. This streamlined approach saves time and facilitates accurate reporting and tax calculations, particularly if your business is engaged in international trade or operating in global markets.
Some banks offer Multi-Currency Accounts without a monthly fee, while others offer attractive introductory offers, such as extended periods of free banking or discounted transaction fees.
As with standard Business Bank Accounts, Multi-Currency Bank Accounts typically have the same comprehensive support services, including 24/7 account access to assist your business in managing your FX transactions efficiently.
SMEs can benefit from competitive interest rates on balances held in their foreign exchange accounts, especially when using overdraft facilities sparingly. FX Accounts can result in cost savings over time, particularly compared to the fees associated with traditional bank accounts.
While additional costs may be related to business FX accounts beyond the introductory period, the value-added features and services provided can justify the investment.
Some banks offer complimentary extras, such as free accounting software, as part of their paid account packages, enhancing the overall value proposition.
Multi-Currency Account FAQs
A Multi-Currency Bank Account allows businesses to hold and transact in multiple foreign currencies, whereas traditional Business Bank Accounts typically support only one currency. This flexibility enables your company to operate globally and manage international transactions more efficiently.
Opening a Foreign Exchange Business Account provides several advantages, including seamless management of transactions in different currencies, reduced currency conversion costs and enhanced control over foreign exchange risks. Additionally, your business can benefit from competitive exchange rates, hedging options, and specialised support for international payments.
Transferring money to a foreign bank account is straightforward with a Multi-Currency Business Account. Businesses can initiate international transfers directly from their account, leveraging competitive exchange rates and low transaction fees. Some accounts also offer convenient online platforms or mobile apps for initiating and tracking international payments.
Yes, one key feature of a Foreign Exchange Bank Account is the ability to hold balances in multiple currencies simultaneously. This feature enables businesses to manage cash flow efficiently, avoid unnecessary currency conversion costs, and capitalise on favourable exchange rates. Businesses can allocate funds across different currencies based on their operational requirements.
While Multi-Currency Business Accounts may have associated fees, such as account maintenance fees or transaction charges, the specific fee structure varies depending on the bank and account provider. Some Multi-Currency Business Accounts have no monthly fees, some offer introductory periods with reduced or waived fees, while others may have tiered pricing based on account usage. It's essential to carefully review the fee schedule and terms to understand the cost implications before opening an account.
While not mandatory, having a Multi-Currency Business Account can provide significant advantages if your company is engaged in international trade or operating in multiple territories. The ability to transact in various currencies, manage foreign exchange risks and streamline international payments can enhance your operational efficiency.
A Multi-Currency Account typically allows you to hold and manage multiple currencies within a single account.
Foreign Exchange (FX) Accounts are tailored for currency exchange transactions. Businesses often use them to facilitate international transactions or manage currency risk. While a Multi-Currency Account focuses on holding balances in various currencies, an FX Account emphasises currency conversion and trading functionality.
'FX Account' refers to a specialised account for foreign exchange transactions. These accounts provide access to currency markets where users can complete transactions to convert one currency into another at favourable exchange rates. FX Accounts may offer additional features such as real-time exchange rates, customisable alerts and risk management tools.
A business can open multiple FX Accounts with different providers. Holding multiple FX accounts can offer several advantages, including risk diversification, access to varying rates and flexibility in managing currency exposure. For instance, a business might open separate FX accounts for imports and exports, hedging against currency risk or conducting transactions overseas.
However, businesses must assess their needs and consider fees, rates and account features before opening new FX Accounts to ensure they align with their requirements.
