WORLDFIRST can help online sellers to repatriate funds at better exchange rates than the major marketplaces.
Meet the product: World Account from WorldFirst
Doing business globally shouldn’t be complicated. Our friends at WorldFirst have launched their new and improved World Account, so you can stay in control of your finances with a real-time overview of your currency account balances, live market movements and your fixed FX transfer fee in one central dashboard.
World Account has been designed to help customers receive international funds with faster and easier cross-currency and same-currency payment capabilities. Free to open and maintain, World Account is the simple way to collect locally, convert, and make payments, anywhere in the world. We asked Theo Sprague at WorldFirst to tell us more:
What is World Account?
Free to open and maintain, the World Account is the simple way to collect, convert, and make payments locally, practically anywhere in the world. Designed with SMEs and online sellers in mind, it enables you to receive international funds, and make same-currency and cross-currency payments faster and easier, giving you more control than ever before.
What are the main benefits of a World Account
The World Account is a complete solution for your business when selling via online marketplaces, or to overseas customers. The World Account offers:
- Free and easy account set up, to start receiving funds internationally with local currency accounts – without the need for local banking relationships
- Free to receive money from international customers to your own GBP, USD, EUR, CAD, JPY, AUD, SGD, NZD, HKD & CNH accounts
- Hold funds to pay suppliers, repatriate funds, and make international transfers
- Seamless Xero integration for all your accounting needs
- Transparent pricing from 0.15% to 0.50%
- Dedicated account managers based in the UK to support you with any queries you may have
- Flexible hedging solutions to help mitigate exchange rate risk and secure long-term profit margins
What’s new with World Account?
At WorldFirst, it’s not just about the big changes. We continually make small but transformative changes to our products to ensure we are always addressing our customer’s needs. We believe that changes big and small add up. Find out more on how we are leveraging innovation and technology to meet your needs and discover our latest product improvements.
- Faster same-currency and cross-currency payments to speed up your supply chain
- New and improved payment capabilities West to East, including payments into China
- Seamless currency account management
- Simple, single-view dashboard with real-time balances
- On demand statements and proof of account ownership
- Add payees (beneficiaries) easily with our smart new functionality
- Easy-to-use live chat services with responses from our experts
How quickly can I set up overseas currency accounts with World Account?
World Account customers can open local currency accounts directly from the dashboard at the click of a button – and use straight away. Most requests will be activated instantly; but in some cases, this can take up to one business day. EUR and JPY will be activated within one business day.
- Fast and free to set up, with no annual fees, deposit requirements or minimum transaction level
- Open one or multiple local currency accounts online
- Personalised account details, including your own unique account number under your business name
Tell us about your transparent pricing
It’s free to set-up your World Account, free to open multiple local currency accounts, free to get personalised account details, including your own unique account number, and free to receive money using those bank details. Your customers won’t be charged a fee to pay you locally, and you won’t be charged a fee to receive that payment
In 2019, WorldFirst rolled out a new pricing structure offering simplicity and transparency, with just three pricing tiers for all customers. With our new, standardised pricing, you receive a fixed fee based on your annual trading volume, using three clear FX margin bands applied across 28 currencies. All our fees are incorporated into the FX margin from as low as 0.15%
As well as simplicity and transparency, WorldFirst is up to 85% cheaper than high street banks.
How can I get a World Account today?
Go to worldfirst.com/uk/world-account and open your World Account to get started now.
Interesting way Ro short circuit the banks which overcharge on all FX transactions. You need a clear statement of fax risks in joining your system;how are rates set vis a vis the market ?