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Hold and pay in the currencies your business actually uses.

Multi-currency accounts let you collect, hold and pay out without forcing every cashflow through GBP. The aim is fewer conversions and less friction, not a flashier dashboard.

Why a business needs more than one currency

Most UK businesses start with a single GBP account, which works fine until money starts moving in and out in other currencies. At that point, every receipt and every payment in a foreign currency gets converted — often twice, once on the way in and once on the way back out — even when the business never actually needed the funds in GBP in between. A multi-currency account removes that unnecessary round trip by letting balances sit in the currency they arrived in.

Receiving, holding and paying

In practice this means three things: receiving foreign currency without an automatic conversion, holding that balance for as long as it's useful, and paying suppliers or staff directly from it. Where TimeFX issues local receiving details in a currency, customers or marketplaces can pay you as if you were a local business — which can also make you easier to pay.

At a glance

  • Hold balances in the currencies your business uses
  • Pay out across a broad range of currencies and destinations
  • Receiving details in supported currencies, where issued
  • Convert when, and if, it suits your business
  • Unified reporting across currencies and accounts
Currencies issued, account limits and eligibility are confirmed during onboarding, delivered with our FCA-authorised payment partner under UK payment services regulation.

Use cases

Where multi-currency accounts pay for themselves

  • Marketplace and platform sellers

    Collect proceeds from overseas marketplaces or payment platforms in their native currency, instead of accepting an automatic conversion you didn't choose.

  • Importers paying regular suppliers

    Hold a working balance in your main supplier currency, and top it up when the rate suits you, rather than converting on demand for every invoice.

  • Businesses with overseas operations

    Run local currency balances for overseas subsidiaries, contractors or travel costs, keeping reporting straightforward across the group.

Efficiency

Reducing unnecessary conversions

Single GBP account

  • Foreign receipts convert to GBP automatically on arrival
  • Paying a supplier in the same currency means converting back out again
  • Two conversion legs on money that never needed to touch GBP

Multi-currency account

  • Money arrives into the relevant currency balance, untouched
  • Pay suppliers or staff directly from that balance
  • Convert only the portion you actually need in another currency

Coverage

Currencies and eligibility considerations

  • Major currencies heldGBP, EUR, USD, CHF, JPY, AUD, CAD, SGD, HKD, CNY and more
  • Wider range paid outConvert at the point of payment for currencies outside your held balances
  • Local receiving detailsIssued in supported currencies, so customers can pay you as a local business
  • Confirmed at onboardingExact list, limits and eligibility set out before you apply

Eligibility considerations

Which currencies are issued to you, whether local receiving details are available in a given currency, and any account limits, depend on your business type, trading history and the currencies you need. These are confirmed as part of our standard onboarding checks — we'll talk you through what to expect before you apply.

Onboarding

How onboarding works

  1. 1

    Map your flows

    We look at what you receive, in which currencies, and what you pay out — to see where holding a balance would actually save a conversion step.

  2. 2

    Confirm eligibility

    Your business type, trading history and intended currencies are reviewed against our standard onboarding checks.

  3. 3

    Open your currency balances

    Accounts are set up for the currencies that matter to your business, with receiving details issued where supported.

  4. 4

    Start collecting and paying

    Receive into the relevant currency balance, pay suppliers or staff from it, and convert only when it makes sense for your business.

Multi-currency accounts, held safely and used flexibly

Regulated safeguarding, with the flexibility to hold, convert or pay out on your own schedule.

  • Hold major currencies, pay out broadly

    Hold balances in the currencies your business uses and pay out across a wider range of currencies and destinations.

  • Safeguarded, not held by us

    Funds sit with our FCA-authorised payment partner, which is authorised and regulated by the FCA, under standard safeguarding rules. TIMEFX LTD never takes custody of customer funds.

  • Convert only when it suits you

    No forced conversion on receipt — decide when, or if, a balance gets converted back to GBP or another currency.

Apply now or see the full services overview.

Common questions about multi-currency accounts

Related services and guides

Multi-currency accounts tend to work best alongside the way you pay and manage FX risk.

Get started

Hold and pay in the currencies you work in

Reduce conversion costs by collecting and paying in the same currency where possible. We will help map your flows.

We respond to enquiries within one UK business day.

Apply now Explore multi-currencyCall +44 20 8987 8083