OFX introduces multicurrency account for businesses
Australia-headquartered payments provider OFX Group has introduced a multi-currency account for businesses to help them manage international cash flow. Businesses can now pay, get paid, and hold balances in their own unique local accounts in up to seven currencies – EUR, GBP, AUD, HKD, SGD, CAD, USD – manage them from a single dashboard, and integrate with Xero accounting software.
The product, OFX Global Currency Account, is designed to support businesses that are expanding into global markets to generate new revenue streams. The solution is available to businesses operating out of the US, Canada, the UK, Singapore, and Hong Kong, with future plans for availability in Australia. Businesses already operating internationally from those markets, or those just getting started, can use the Global Currency Account to pay vendors, suppliers, and taxes from balances, and receive payment for invoices directly into their accounts.