This is a significant step for EQIBank as it adds support for two of the most traded currencies in the world, with the British Pound making up 12.8% of daily trades and the Canadian Dollar consisting of 5%. Not only are these currencies widely traded around the world, but they are also used by some of the largest multinational companies around the world as their home currency.
Jason Blick, CEO of EQIBank, commented “There are so many benefits of a multi-currency account: You can hold your money in multiple currencies all in one place – and switch between them when the rates are good. You may be able to make and receive transfers in foreign currencies at reduced fees compared to regular international bank transfers”
By establishing a separate account for each currency you use, you can optimize foreign cash flows and respond more effectively to changing market condition and:
- Conduct transactions in USD, GBP, CAD or EUR from your EQIBank account.
- Consolidate and manage foreign receivables and payments more effectively.
- Send and receive wires and receive and deposit foreign checks without immediate currency conversion to U.S. dollars or EUROs.
- Avoid language issues and investing extra time dealing with representatives in international banks.
- View balances and activities for all currency accounts online or through the EQIBank App
- View current exchange rates to enable transaction execution when rates are favorable, minimizing potential losses due to mistimed conversions to other currencies.
In addition, customers holding British Pounds will be able to make use of FastPay to conduct faster and cheaper transactions while those holding Canadian Dollars can make use of Swift payments.
If you are a holder of Canadian Dollars or British Pounds looking for a secure offshore bank to meet your needs, EQIBank offers highly personalized and best-in-class business and personal digital banking. You can start your application here to apply for a corporate or private client account.
EQIBank, one of the world’s leading innovative Banks, strives to provide a wider range of products to more countries than any other digital bank. EQIBank is the world’s first global digital bank aimed solely at businesses and high-net-worth individuals and it provides offshore, tax-exempt, and tailored personal and corporate banking services to clients in 180 countries. With 24/7 cloud-based access, real time insights, and high barriers to entry, EQIBank’s strategy is to accelerate simplification, using Open Banking Standards and Open APIs to create a new global standard of banking. eqibank.com