While the Government thrashes out the terms of the Brexit departure, business goes on and will adapt to the changed international landscape, once the dust of long term negotiation has died down.
Whether we are in the European Union or out of it, we will still be trading with it's members and also with the 53 countries that make up the commonwealth and of course the US and other countries not in either camp.
The need to exchange one currency for another while products or services are bought and sold will not go away, though maybe in the fullness of time some trade that once settled in euros may well be replaced by Canadian, US $, or Australian $.
Banks have had the lion's share of Foreign Exchange business for a long time but with the various scandals involving many global International banks, there has been a loss of trust and clients have been looking elsewhere for their currency needs.
WorldFirst, a highly experienced international payments business, has just launched a revolutionary new World Account to UK corporate customers of all sizes, providing a range of international services that many SMEs trading overseas find difficult to access through traditional banks.
Through this multi-currency account, businesses - large or small - can quickly open multiple international currency accounts in GBP, EUR, USD and CAD free of charge. All these accounts can then be accessed and managed from one platform, or through an app using one single sign-on. Additional functionality and more currency accounts including the Japanese yen, Australian dollar, Singapore dollar, New Zealand dollar and Hong Kong dollar, will be supported shortly.
Opening overseas bank accounts is not that straight forward and with this account that is no longer necessary. Businesses will be able to hold balances in multiple currencies at the same time allowing them to reduce foreign-exchange costs and manage their currency exposure efficiently.
Commenting on the launch, Jonathan Quin, Co-founder and CEO at WorldFirst said:
"Our clients continually tell us that they are frustrated at how slow, complicated and expensive international banking can be, especially the process of opening overseas accounts. Thankfully the wait is now over for a solution that meets their needs and will enable UK business to compete more effectively in the global economy.
For more information or to open an account click World Account [1]
Mark James - Editor