Multi-Currency Bank Account in the UK: 5 Best Options in 2025

If you’re managing finances in currencies other than pounds, like receiving payments from customers in US dollars or euros or paying suppliers in Hong Kong dollars, a multi-currency account is a solution that keeps transactions simple and reduces exchange fees.

With so many options available, knowing where to start or which account suits you best can feel overwhelming.

This guide highlights the most practical multi-currency account options available in the UK for 2025, helping you save time, cut costs, and manage international payments effectively. We also include tips on determining whether a multi-currency account suits your needs and how to select the right one for your circumstances.

Let’s start with the basics: what is a multi-currency account? 

A multi-currency account allows you to hold, send, and receive money in different currencies through a single account, making international transactions more efficient compared to having separate accounts for each currency. 

This type of account is particularly useful for businesses and individuals who deal with frequent cross-border payments. For instance, ecommerce sellers with international customers, freelancers working with overseas clients, or businesses paying suppliers in different countries can save on conversion fees and streamline their transactions.

Benefits of a Multi-Currency Account for UK Businesses

While traditional UK bank accounts supporting GBP are sufficient for domestic use, businesses managing cross-currency payments and complex international transactions may find greater value in a multi-currency account. Here are some of the key benefits:

• Save on currency conversion fees by holding and transacting in multiple currencies.
• Avoid exchange rate fluctuations by making transactions in the same currency.
• Simplify financial management with one account for multiple currencies.
• Improve cash flow by holding funds in foreign currencies until exchange rates are favourable.
• Enhance global business operations with easier payments to international clients and suppliers.
• Expand customer reach by offering clients the convenience of paying in their local currency, improving your competitive edge in global markets.

Now that we have covered the definition, let’s move on to the options available. Most traditional banks typically offer foreign currency accounts, so it’s worth considering these as well as options from alternative providers.

The NatWest Cash Management Account, offered by NatWest, allows you to manage foreign currency transactions online, including viewing balances and making money transfers in multiple currencies.[1] You can also place your money in an instant access pot to withdraw savings at any time or use a fixed-term savings pot to save with flexible terms ranging from 3 to 12 months.

Account Overview

• Supported Currencies: Most major currencies, including Pound Sterling, US Dollar, and Euro.
• Eligibility Criteria: Must be resident in one of the listed countries (such as the UK, the US, most European countries, and South Africa), must open the account with a minimum deposit of GBP 25,000 or pay in the mandated salary of GBP 40,000, and must be over 16. 
• How to Apply: Online using a mobile phone or tablet or via phone call on 01534 28 23 00.
• Monthly Fees: The account has no monthly account fee. 

Pros & Cons of the NatWest Cash Management Account

Revolut Business Account is a multi-currency current account designed for businesses of all sizes.[2] It offers a range of tools for managing company finances, including the ability to hold over 30 currencies, transfer money globally with SEPA and SWIFT, and integrate with accounting and HR platforms.

While Revolut was granted a UK banking licence with restrictions in 2024, its accounts are classified as e-money accounts rather than traditional bank accounts, meaning funds are not directly protected by the Financial Services Compensation Scheme (FSCS).[3]

Account Overview

• Supported Currencies: Hold up to 34 currencies in one account, including GBP, EUR, USD, SEK, SGD, JPY, HKD, CHF, CAD, AUD, and AED.
• Eligibility Criteria: Your company must be fully incorporated and active in a supported country, and it must not be a charity, a public sector entity, a cooperative, or involved in unsupported industries.[4] Your current home address should be in the UK, Switzerland, or the EEA.
• How to Apply: Apply online via the website or contact the sales team through the online form.
• Monthly Fees: Monthly account fees range from free (Basic plan) to GBP 19 (Grown plan), GBP 79 (Scale plan), and custom pricing for Enterprise. 

Pros & Cons of the Revolut Multi-Currency Business Account

The HSBC International Business Account is available as a current account, instant-access savings account, fixed-term deposit account, and local account in an overseas market.[5] This account allows businesses to choose from any tradable currency, simplifying currency dealings, minimising conversion costs, helping avoid foreign exchange risks, and allowing flexible withdrawals.

Account Overview

• Supported Currencies: USD, EUR, and approximately 90 other currencies, including Japanese Yen, Australian Dollar, and New Zealand Dollar.
• Eligibility Criteria: You must have a Relationship Manager or a GBP Business Account (current or savings) with HSBC before opening an international business account.
• How to Apply: The application process depends on the type of international business account you choose but is generally initiated by making an appointment through Business Telephone Banking at 03457 606 060.
• Monthly Fees: Annual account maintenance fees are charged in monthly instalments: GBP 96 for Small Business Banking customers, GBP 120 for Business Banking customers, and GBP 180 for Corporate Banking customers.[6]

Pros & Cons of the HSBC International Business Account

Offered by Wise, a leading global payment platform, the Wise Business Account is a multi-currency account that provides local account details like IBANs, routing numbers, and sort codes for receiving global payments.[7] It also offers physical and digital debit cards for spending and integrates seamlessly with accounting software like Xero, Sage, and QuickBooks.

Wise is not a bank. However, it is authorised as an Electronic Money Institution by the Financial Conduct Authority (FCA) in the UK. 

Account Overview

• Supported Currencies: Accept payments in 29 currencies and send in 50 currencies, with local account details available in 23 currencies, including EUR, USD, AUD, CNY, JPY, SGD, and CHF.
• Eligibility Criteria: Sole traders, freelancers, limited and public companies, partnerships, registered charities, and trusts in the EEA, Canada, the UK, the US, Switzerland, Australia, and New Zealand can apply to use Wise Business.
• How to Apply: Online on the website.
• Monthly Fees: GBP 45 for registering for a Wise Account; fees starting from 0.33% for sending money (vary by currency); GBP 3 for the Wise debit card.[8]

Pros & Cons of the Wise Business Account

Although the Barclays Foreign Currency Account is not technically a multi-currency account, the bank allows you to open multiple accounts in different foreign currencies, make international payments, transfer money between these accounts, and manage them conveniently via online banking.[9] This makes the foreign currency account a worthwhile option to consider.

Account Overview

• Supported Currencies: AUD, HKD, NZD, ZAR, CAD, DKK, NOK, SEK, USD, EUR, CHF, and JPY.
• Eligibility Criteria: You must be over 18 and have had an active Barclays GBP personal account for at least 6 months.
• How to Apply: Via call to the International Helpdesk on 03459 75 75 75.
• Monthly Fees: This account has no monthly fee.

Pros & Cons of the Barclays Foreign Currency Account

With so many options available, choosing the right multi-currency account is essential, as they often come with various costs. To ensure you get exactly what you need, here’s what to look for when selecting the best option for your business finances.

• Supported Currencies: Ensure the account supports the currencies you frequently use for your transactions. Also, carefully review the list of supported currencies, as the currencies you can hold may differ from the ones you can send or receive.
• Fees and Charges: Compare account maintenance fees, currency exchange rates, transaction costs, and any possible hidden charges.
• Ease of Use: Evaluate the user interface of the provider’s online platform or mobile app for convenience. Consider how easy it is to move currencies within your account, such as transferring funds between different currency balances or converting currencies. 
• International Accessibility: Consider whether the account supports global payments and offers features like IBAN and SWIFT Payments.
• Customer Support: Opt for providers with reliable and accessible customer service, especially for resolving cross-border issues.

While a multi-currency account can be useful in many situations, it might not always be the most practical choice. When deciding whether to open one, consider these scenarios to help you evaluate if it’s the right option for your needs.

When a Multi-Currency Account is Needed

• When you run a business with international transactions: If your business frequently deals with clients or suppliers in different countries and currencies, a multi-currency account can simplify payments and reduce currency conversion costs.
• When you run a global ecommerce store: Selling products or services internationally requires handling payments in various currencies to cater to global customers. Having an account that can accept payments in multiple currencies simplifies this process and supports business expansion into new markets. Additionally, allowing customers to pay in their local currency can enhance their experience and boost conversion rates.
• When you make international investments: Sending or receiving money across borders, especially in different currencies, is made easier and more cost-effective with the reduced fees and simplified transactions offered by multi-currency accounts.

When You Might Not Need a Multi-Currency Account

• When you are travelling abroad: If you are travelling internationally for leisure or short-term business trips, a multi-currency account may not provide significant benefits. Instead, a debit or credit card with no foreign transaction fees can be a more convenient and cost-effective option.
• When you are only making a one-time payment: If your need for international transactions is occasional, setting up a multi-currency account might be unnecessary. In such cases, using a one-time money transfer service would be quicker and simpler

While multi-currency accounts are valuable for managing international transactions, reducing costs, and simplifying financial operations, it’s essential to evaluate your specific needs and carefully compare the options available to choose the one that best suits your business. Although we’ve covered the 5 best options in the UK, these are not the only choices. Be sure to shop around to find the right one for your needs.

If you’re expanding your business to Asia, consider the Statrys Business Account, designed to streamline cross-border payments and provide personalised support for your financial needs