Introducing the new Ebury currency account with your unique IBAN

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12 December 2018


Receiving payments from international buyers can often be difficult.

f you don’t hold a USD account but receive payments in US dollars, it is safe to say your bank could be charging you substantial FX and international transaction fees.

This is where thinking locally is imperative. Holding your own account in a local currency makes it easier to make international payments, without actually having to hold a foreign account.

Have any questions about currency accounts? Contact us to speak to one of our representatives.

How can a currency account help me and my business?

Opening a currency account with Ebury means you can have access to account details in a currency chosen by you. With this kind of access, you can improve business between you, your suppliers and your clients:

  • Give your clients and suppliers the option to pay in over 30 currencies
  • Hold balances in domestic and foreign currencies, and easily pay at competitive rates
  • Simplify reconciliation with exact matching between payments and invoices
  • Hold local accounts in the US, UK, France and Netherlands* without requiring a local presence

This is how our clients have taken advantage of Ebury’s currency account:

As an example, one of our client’s— Mahi Leather Limited—is a UK based corporate set up in 2010. Mahi specialise in making beautifully crafted leather goods, which are handmade in Northern India. They’re a web-based retailer, so their customer base is world-wide.

To accommodate their international buyers, Mahi (like many other online retailers) uses a payment gateway service on their website. However, as Mahi had a sterling account, they didn’t have any control over the exchange rates that were incurred with every transaction, and no control over when payments were made into the sterling account.

With Ebury’s currency account, Mahi was able to obtain US dollar account details to use in conjunction with the payment gateway they already had in place. They can now receive US dollar transactions, without incurring substantial FX fees on every payment.

It took less than 24 hours to set up a currency account with Ebury and Mahi now gets total flexibility and streamlined payments, as well as an online system to repatriate as and when.

When you open a currency account with Ebury, you’ll have access to FX, hedging tools, financing and cash management solutions to effectively manage your company’s finances. You’ll also have access to:

  • An account addressed in your name
  • An IBAN numbered currency account within two days
  • Our online system that you can access anytime
  • Your own relationship manager for every transaction you conduct with us

If you’re interested in finding out more about our currency accounts, either fill out this quick form, or get in contact with your relationship manager to find out more.