Many of our clients have customers or suppliers in the UK and the US. If you are selling or buying abroad, you will probably know that the fees charged by your bank quickly add up. You have probably also noticed that the exchange rate is not always as good as you would expect.

FinTech is on the rise, and generation startup has come up with several solutions, which means you no longer need to rely purely on an Irish bank for your business. Today, we recommend you check out the following providers, in order to save some money and reduce the impact of exchange rate fees on your business.

TransferWise

Join over 8 million people and businesses who get a better deal when they send money with the real exchange rate by joining TransferWise. TransferWise move over $5 billion every month, and save people and businesses $3 million in hidden fees every day.

With TransferWise you can:

  1. Make a one-off payment.
  2. Hold a multi-currency account with 50+ currencies.
  3. Spend with a Mastercard Debit Card.
  4. Hold a free international Business Account to send, spend and receive in multiple currencies.

CurrencyFair

This user-friendly platform from Irish company CurrencyFair allows you to pay workers, suppliers, and contractors from abroad in up to 21 currencies and from over 150 countries.

Creating your account online is simple and only takes a few minutes. After you have uploaded documents to verify your business, you will be able to exchange currencies immediately at bank-beating rates or, choose your own rate and wait for a match on the unique peer-to-peer marketplace. 

Revolut Business Accounts

Revolut started its operations in 2015. Initially, Revolut was a pre-paid card. Since then, the business has matured to offer numerous services. Through Revolut, customers can:

  • Receive, hold, and exchange money in more than 20 different currencies.
  • Transfer money between two Revolut accounts without any charge
  • Approve or schedule payments
  • Get your employees pre-paid Revolut cards

Get a free copy of the 2020 Tax Booklet

Sign up to our newsletter and we will send you your free copy of the 2020 Tax Booklet.

You have Successfully Subscribed!

Share This