Best multi-currency business account in the US [2025]
Opening a multi-currency account can have significant advantages for international businesses, including letting you receive payments, hold foreign currencies, and send money internationally.
International businesses can benefit from a multi-currency account when dealing with foreign currencies regularly, whether that’s taking customer payments from abroad, paying payroll to international employees or paying foreign suppliers.
However, opening a business multi-currency account in the US might be cumbersome, slow, and, most of all, expensive. Specialist providers like Wise and OFX can be good alternatives.
In this article, we’ll cover what you need to know about opening a multi-currency account, including the best options in the US, the costs involved, and how to open one.
Table of Contents
- Quick summary
- Can I open a business multi-currency account in the US?
- What is the best multi currency account for business
- What is a multi-currency business account?
- How to open a multi-currency account for a business in the US
- How to choose the right multi-currency business account for your needs
- Conclusion: What is the best multi-currency business account?
Key points: Business multi-currency accounts in the US
| Provider/Bank | 💡 Great for |
|---|---|
| Wise | Holding and exchanging 40+ currencies with the mid-market rate and low fees |
| PNC Bank | Multi-currency account solution from a major bank, including some interest earning opportunities |
| Airwallex | Holding 20+ currencies, with ways to receive customer card payments from 180+ countries |
| OFX | Receive and hold 7 major currencies, with no fees to receive or transfer money |
*Providers and banks have been ordered by the number of available currencies in their multi-currency business account products
Can a business multi-currency account be opened in the US?
Yes. You can open a business multi-currency account in the US.
Many US banks do not offer multi-currency business accounts for smaller companies – instead their multi-currency features are aimed at large corporations looking for services like global treasury management. One example is the multi-currency account services available from PNC, which we’ll look at in this guide.
The good news is that aside from banks, there are also plenty of specialist alternatives such as Wise, OFX and Airwallex, which have powerful international accounts for businesses in the US, supporting multi-currency holding and more. This guide walks through some of your top options, so you can decide which works best for you.
What is the best multi currency account for business?
There are quite a few different options in the US for multi-currency business accounts – which means you’ll need to do some research to get an idea of what might suit your specific needs.
To give you a flavor, we’ve picked out a few different options to start you off – including one bank – PNC – and specialist alternatives Wise, OFX or Airwallex. Here’s an overview:
| Provider/Bank | Opening or monthly fee | Currencies supported | Debit or expense card | Exchange rates |
|---|---|---|---|---|
| Wise | No opening or monthly fee | 40+ for holding and exchange
Receive 20+ currencies with local and SWIFT details | Available – Wise Multi-Currency Card for business | Mid-market rate, with conversion costs from 0.57% |
| PNC Bank | Not specified – contact the bank directly | 30 currencies for holding and exchange | Not specified – contact the bank directly | Exchange rates are set by PNC and may include a markup |
| Airwallex | No opening or monthly fee | 23 currencies for holding and exchange
Receive 20 currencies with local account details | Available | 0.5% – 1% markup applies depending on the currency involved |
| OFX | No opening or monthly fee | Receive, hold and exchange 7 currencies | Not available | Exchange rates include a markup |
Details correct at time of writing – 10th January 2025
Wise Business account
| 💡 Great for: Holding and exchanging 40+ currencies with the mid-market rate and low fees |
Wise Business offers multi-currency accounts which support 40+ currencies for holding and exchange, and currency conversion with the mid-market rate and low fees.
You can also receive payments with local and SWIFT account details in 20+ currencies, and issue debit and expense cards to make overseas spending and cash withdrawals easier.
Cards are offered as virtual and physical cards, for Chip and PIN, contactless and mobile payments, as well as cash withdrawals. Other perks include batch transfers, accounting integrations, multi-user access, and a powerful API to streamline workflow.
- Low cost payments – Send to 160+ countries with the mid-market rate and low fees
- Get paid by others – Receive payments from customers and clients with low or no fee
- Low cost – No account opening or management cost
| Wise pros | Wise cons |
|---|---|
| ✅ Hold and exchange 40+ currencies ✅ Easy to use on phone or laptop ✅ Receive foreign payments and send to 160+ countries ✅ Extras like accounting integrations to save time and cut admin | ❌ Variable transfer fees ❌ Some service charges apply |
Wise fees
| Features | Wise pricing |
|---|---|
| Account fees | No opening or monthly fee |
| Currency conversion | Mid-market rate, with conversion costs from 0.57% |
| Supported currencies | 40+ for holding and exchange Receive 20+ currencies with local and SWIFT details |
| Sending & receiving international transfers | Send from 0.57% Receive transfers to Wise in 20+ currencies, often for free, with the following exceptions: Receive USD wire – 6.11 USD fee Receive CAD SWIFT payment – 10 CAD fee |
| Limits | Holding limits are set extremely high for business use – either unlimited or 50 million USD per day Sending limits usually 1 million US per transfer – varies by currency |
Details correct at time of writing – 10th January 2025
PNC Bank business account
| 💡 Great for: Multi-currency account solution from a major bank, including some interest earning opportunities |
PNC offers multi-currency accounts for corporate and institutional customers which support receiving, holding and exchanging 30 currencies.
This can help reduce currency exchange risks and potential costs for your business. You can also use PNC to manage payments and view transactions through PINACLE, the PNC online banking portal for business.
- Hold and exchange – Accounts support 30 major currencies
- Cut conversion costs – You won’t need to convert payments in foreign currencies to USD if you don’t want to
- Manage everything in one place – Access PINACLE for easy money management
| PNC Bank pros | PNC Bank cons |
|---|---|
| ✅ 30 supported currencies to receive, hold and exchange ✅ Easy digital ways to make payments and manage transactions ✅ Corporate banking solution from a major bank ✅ Some interest earning opportunities | ❌ Aimed at larger businesses only ❌ Fees are likely to apply – contact the bank directly to learn more |
PNC Bank fees
PNC Bank does not release much information about the costs of the account online. Instead you’re asked to contact the bank directly to learn more, which you can do by calling 1-800-669-1518. More information on PNC website.
Airwallex business account
| 💡 Great for: Holding 20+ currencies, with ways to receive customer card payments from 180+ countries |
Airwallex has multi-currency business accounts which are optimized for online sellers and people taking customer card payments. You can open local accounts to receive payments in 20+ currencies, and there are ways to get paid by PSPs and platforms, as well as through card payments in different currencies.
You can get virtual and physical debit cards to make business spending easier, although no ATM withdrawals are allowed.
- Receive and hold – Receive and hold 20+ currencies in one account
- Get paid from overseas – Take bank and card payments from all over the world
- Issue debit and expense cards – Instant virtual cards and the option for virtual cards for in person spending
| Airwallex pros | Airwallex cons |
|---|---|
| ✅ No costs to open account ✅ 20+ currencies supported for receiving, holding and exchange ✅ Issue your own debit cards to your team ✅ Take payments online easily | ❌ 0.5% – 1% currency conversion costs apply ❌ Cards can not be used in an ATM |
Airwallex fees
| Features | Airwallex pricing |
|---|---|
| Account fees | No opening or monthly fee |
| Currency conversion | 0.5% – 1% markup applies depending on the currency involved |
| Supported currencies | 23 currencies for holding and exchange
Receive 20 currencies with local account details |
| Sending & receiving international transfers | Transfers are often free, but 15 – 25 USD charge applies for SWIFT payments |
| Limits | Some accounts have holding limits – view your Available deposit limit in the app in the Account Capabilities tab
Variable payment limits apply depending on the currency |
Details correct at time of writing – 10th January 2025
OFX Global Currency business account
| 💡 Great for: Receive and hold 7 major currencies, with no fees to receive or transfer money |
The OFX Global Currency Account supports 7 major currencies for receiving, holding and exchange. This allows you to easily take customer payments or use your local details in foreign currencies to connect to marketplaces and PSPs. You can then use your funds to pay others, or withdraw to your US bank account if you prefer. There’s no fee to send a payment but currency conversion may have a markup added.
- Receive payments– Receive money in 7 currencies
- Send transfers – No fee to send money to others
- Currency risk management –Access currency risk management solutions through a 24/7 phone service
| OFX Global Currency pros | OFX Global Currency cons |
|---|---|
| ✅ No costs to open or operate ✅ 7 supported currencies ✅No transfer fee ✅ Known for excellent customer service | ❌ Exchange rates include a markup ❌ No debit card |
OFX Global Currency fees
| Features | OFX Global Currency pricing |
|---|---|
| Account fees | No opening or monthly fee |
| Currency conversion | Exchange rates include a markup |
| Supported currencies | Receive, hold and exchange 7 currencies |
| Sending & receiving international transfers | No transfer fee – exchange rate markup applies |
| Limits | Usually no limits apply |
Details correct at time of writing – 10th January 2025
What is a multi-currency business account?
A multi-currency business account lets you manage your business finances in several different currencies, all in one account.
This means you can receive payments in foreign currencies, send money to others overseas, spend when you travel for business, and purchase goods online with your card in foreign currencies, more conveniently.
Here are a few of the key benefits of getting a multi-currency account for your US business:
- Receive payments from customers and clients in foreign currencies
- Hold a balance in foreign currencies – so if you receive a foreign payment you don’t need to convert to USD immediately
- Use local account details in foreign currencies with PSPs like Stripe or marketplaces like Amazon to access your income from overseas
- Make convenient foreign currency payments to contractors and suppliers, or to cover overseas tax
- Some accounts offer a debit card you can use to spend and make cash withdrawals in the US and abroad
How to open a business multi-currency account in the US
The way you open your business multi-currency account can vary a lot depending on the provider you pick. You can often open your account online – particularly if you pick an alternative digital service like Wise or OFX. Or you may need to call the bank or make an appointment to visit to arrange your account.
Here are the basic steps you will need to follow:
- Choose the best provider for your needs
- Check you meet any eligibility criteria
- Register for your account in a branch, online, or through the provider app
- Give your personal, business and contact information
- Complete the required verification steps
- Fund your account – and you’re ready to go
| Required information |
|---|
| The exact information and documents needed can vary depending on the bank or provide you select – here’s a look at some common requirements:
|
When is a multi-currency account needed for businesses?
If you trade internationally or use overseas suppliers or contractors, a multi-currency account can be helpful.
Here are a few times you may consider using a multi-currency account:
- Get paid by customers overseas – allow customers to pay in their home currencies, either by direct bank transfer or through a platform or PSP
- Pay suppliers and contractors – make simple low cost international business payments to cover your costs overseas
- Spend in foreign currencies for your business – shop online and when you travel in foreign currencies, with low or no fees
- Hold a balance in a foreign currency – there’s no need to convert your money back to USD if you don’t want to, lowering the costs of currency exchange
If you need a business account for holding and receiving a certain currency, these guides might help you:
- Best euro business accounts in the US
- Best GBP business accounts in the US
- Best Canadian dollar business accounts in the US
How to choose the right multi-currency business account for your needs
You’ll need to shop around to find the right multi-currency business account for your specific needs. Our list of providers can give you a good place to begin your research.
Here are a few things to think about when you’re choosing a business account for your international business:
- Currencies supported – make sure your chosen account offers all the currencies you’re likely to need regularly
- Account opening or monthly fees – keeping down ongoing costs means you keep more of your protifs
- Currency conversion costs – look out for exchange rate markups which make it more expensive to convert currencies when you send or spend money
- Transfer fees – read your account terms carefully to understand the costs of transferring money out of your account when you need to
- Debit card availability – if you’ll want to use your account to spend overseas, check if you get a card as a standard
Are multi-currency accounts safe to use?
Provided you pick properly licensed and regulated services, which have good security measures built in, a multi-currency business account is safe to use with normal precautions.
Check if your provider has a proper license for the services it offers, and take a look at a site like Trustpilot to see reviews from current customers and learn more about how the account works day to day.
Conclusion: What is the best multi-currency business account?
There’s no single best multi-currency business account in the US. You can find a few options from banks – but not as many as you might hope as generally the services are tailored towards very large corporations.
If you have a smaller business and want a flexible way to manage your money across currencies, you might choose a nalternative provider instead, such as Wise, Airwallex or OFX.
These options offer accounts with no ongoing fees, great exchange rates and simple ways to transfer money to others, just with your phone.
- Multi-currency business accounts can help any business which has customers, contractors or suppliers overseas
- Using a multi-currency business account can help to cut the costs of currency exchange when you receive and send international business payments
- While some banks have multi-currency business accounts, not all are available for smaller businesses
- Specialist alternatives like Wise, OFX or Airwallex can be a great low cost alternative
