Multi-currency business account: hold 12 currencies, settle card payments in EUR

Growing a business internationally is an exciting milestone. You get to tap into new markets, hire talent worldwide, and serve customers across different continents. But as your customer base expands, managing your financial logistics across borders can get a bit complicated.

Accepting payments in multiple currencies and paying international vendors often leads to double currency conversions, unpredictable bank fees, and messy accounting. To protect your margins and keep your treasury organized, combining a multi-currency business account where you can hold 12 currencies with a straightforward setup to settle card payments in EUR gives you full control over your global money flow.

The operational friction of cross-border revenue management

Running a business across borders means dealing with more than just the time zone differences. Managing cash flow in multiple currencies brings distinct day-to-day financial challenges for growing finance teams.

Hidden foreign exchange markups on cross-border revenue

As a business operating online, it is highly likely that you encounter customers who use different currencies when paying online. And so, when they use such foreign currencies via traditional banking channels, those funds are often automatically converted into your main local currency right away. Traditional banks charge steep foreign exchange rates for business transfers, adding hidden markups on top of standard mid-market exchange rates. It means every international sale loses a small percentage before the money even reaches your balance sheet.

Managing multi-currency balances across international suppliers

Single-currency accounts are becoming less relevant in global trade and payments, especially if you pay overseas contractors, SaaS software subscriptions, or digital ad platforms in foreign currencies. You don’t want to constantly face back-and-forth conversions. You pay a currency markup when receiving funds, and then pay another markup when sending cross-border business payments back out to partners. Over time, these double-conversion fees turn into a significant operational drain.

Segregating revenues across niche verticals

Different businesses need different payment setups. For example, a company using a travel agency merchant account may need specific acquiring terms and multi-currency accounts to accept payments and pay suppliers in other countries. Keeping funds in separate currency accounts also makes it easier to track transactions and keep financial reporting clear.

Core pillars of an efficient multi-currency financial setup

Finding the right tools for your financial infrastructure removes the friction from international operations, letting you collect, hold, and spend global funds without unnecessary bank markups.

Holding native balances to bypass unnecessary currency conversions

You don’t have to convert funds as soon as you receive payments – keep funds in their original currencies instead. A multi-currency business account lets you hold different currencies and convert them only when needed.

You can also use these balances to pay expenses in the same currency, helping you avoid unnecessary currency conversions and extra FX costs.

Linking corporate debit cards across major operational currencies

Managing expenses abroad is easier when your corporate cards are linked to accounts that carry local currencies. Your team can use physical or virtual cards to pay for software, travel, or other business expenses directly in the required currency, avoiding unnecessary currency conversions and extra FX costs.

Streamlining European card acquiring with dedicated EUR settlements

For businesses operating across Europe, receiving card payouts in euros can make accounting easier. A dedicated EUR settlement business account gives your acquirer one place to send EUR payouts from online sales.

Using a EUR settlement business account can also help you avoid unnecessary currency conversions and make it easier to track your revenue.

Simplify your global money flow with Genome

If you want a modern financial setup built for cross-border growth, Genome gives you the tools to manage international cash flow with complete transparency.

Through Genome, companies can open a feature-packed multi-currency business account that allows you to hold 12 currencies: EUR, USD, GBP, PLN, CHF, JPY, CAD, CZK, HUF, SEK, AUD, and DKK. You can easily receive and send funds via international SWIFT transfers and UK Faster Payments, making it easy to manage cross-border business payments with global partners.

Need to move money between your balances? Genome offers currency exchange directly within your dashboard. You can instantly convert funds between your sub-accounts whenever market rates are favorable, ensuring you always get fair foreign exchange rates for business operations.

To make corporate spending effortless, Genome’ multi-currency business account lets you link physical and virtual Visa business cards across 9 different currencies: EUR, USD, GBP, PLN, CHF, CZK, HUF, SEK, and DKK. Your team can pay for software, travel, and operational expenses straight from native account balances without paying extra foreign exchange fees.

For payment processing, Genome’s merchant accounts keep things transparent. We offer instant bank payments, allowing customers to pay you via Pay by Bank (account-to-account payments). The transfers are performed via SEPA Instant and Credit Transfers, and you receive payments in EUR. This clear setup ensures you always know your exact settlement amounts. Hold the received funds in EUR or convert them into any of the supported currencies whenever you choose.

Card payment processing will be available soon as well and will allow you to receive payments from Mastercard and Visa cards globally in EUR, USD, and GBP.

Operational strategies for multi-currency liquidity management

Alongside using a multi-currency business account, applying a few smart operational habits will help you protect your bottom line as you scale.

Timing internal currency transfers around favorable market rates

Instead of letting payment gateways convert your funds automatically at checkout, hold your incoming funds in native balances. Converting funds between your accounts in larger batches when market rates are favorable helps you secure better foreign exchange rates for business transactions and protects your profit margins.

Structuring payouts to prevent double conversion fees

To make things simpler, try to pay suppliers in the same currency they invoice you in. Using funds you already hold in that currency helps you avoid unnecessary conversions and extra FX costs. This is how you keep cross-border business payments beneficial to your business.

Scale your international cash flow with Genome

Expanding your business internationally shouldn’t mean losing hard-earned revenue to hidden FX markups and complex banking setups. Having the flexibility to hold 12 currencies, spend across 9 card-linked currencies, accept payments via SEPA in EUR, and, in the future, settle card payments in EUR gives you a clear financial foundation to grow across borders.

Take control of your international cash flow today. Open a business account with Genome, manage your global balances with ease, and accept payments via Open Banking in EUR. And once card payment processing is available, you will be able to settle card payments in EUR on your own terms.