Share:
POST
TWEET
SHARE
SHARE
EMAIL

OFX Global Currency Account now available to UK merchants

By Dan Wilson September 13, 2018 - 12:29 pm

Foreign currency exchange company OFX has launched its Global Currency Account in the UK. Available to importers and exporters, the Global Currency Account is designed to simplify cash flow management for online merchants trading on international marketplaces.

With the Global Currency Account, ecommerce merchants in the UK can now manage marketplace payments in multiple currencies (pounds, euros, US dollars, Hong Kong dollars, Australian dollars and Canadian dollars) using the feature.

Traditionally, they say, to obtain a local bank account in a country overseas, you would have to be physically present in each market, making doing business in another currency unnecessarily slow and arduous but The OFX Global Currency Account will give UK customers the advantages often reserved for much larger global businesses.

Users can now:

  • Hold balances, make secure payments to global suppliers, and even pay taxes directly from the account
  • Nickname accounts to correspond with the marketplace where proceeds originate from
  • Have account balances automatically paid to a domestic bank account at a time that’s suitable

We’re delighted to bring this product to our growing UK customer base, to help them expand globally and move their money securely and easily. With the growing international popularity of ‘Brand Britain’, it’s important we find new efficiencies in the global economy for our UK eCommerce customers. We aim to continually innovate, harnessing client feedback to create new offerings, and look forward to launching more in the near future.
– Skander Malcolm, CEO and Managing Director, OFX

To discover more about the service, you can watch this explanatory video:

As marketplaces merchants expand and sell overseas, and start dealing in multiple currencies, numerous new problems present themselves. And one of these is the effective collection and repatriation of funds from other countries. Foreign exchange specialists offering tools like this are certainly useful, saving both time and money.

Comments are closed.

Featured in this article from the Tamebay Guide – companies that can help you grow and manage your business.

OFX

OFX provides etailers with a stress-free way to manage their global money transfers that saves both time and money

See More Companies >

Recent Comments

6 hours ago
tyler: I have not looked at the increase in rates yet but to slightly contradict the...
14 hours ago
Gav: If you qualify for it by posting enough items, I strongly suggest looking into switching...
15 hours ago
graham@gwharton.me.uk: If you're a Royal Mail account customer and use the standard BPL account code for...
15 hours ago
graham@gwharton.me.uk: I spoke to my RM Account Manager who was unaware of the specific changes to...