SMEs no longer need to open a bank account to gain access to multicurrency banking.
Caxton, the FX specialists, are combining all of its services in to a single account, giving businesses access to seamless management of 34 currencies and a pre-paid card.
Up until now, SMEs would be faced with either sky-high FX fees via their UK accounts, or weeks of waiting for an unsophisticated multicurrency account from their bank. Caxton’s new multicurrency account can be set up within a few hours, giving businesses true flexibility with their money. This unlocks a business’s ability to spend on a Caxton pre-paid card, or employee expense cards, send international payments, and work with our expert account managers to manage their currency risk - and this can be done with their own personalised account number (IBAN). In addition, businesses are free to plug directly into Caxton’s payments engine via blockchain technology, making their payments cheaper, faster and more secure.
Rupert Lee-Browne, CEO of Caxton, said: “At a time when many of the major banks are closing their multicurrency offerings, we’re proud to launch ours. SMEs have long had a raw deal banking abroad: hit either by massive fees or long waits and difficult admin to move their foreign currency. The Caxton Multi-Currency Account frees businesses from this, providing one seamless, joined up way to manage your business’s money overseas”
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