This account allows you to transact in any of the major currencies around the world. A multi currency bank account allows you to invest and transact in foreign exchanges while living abroad. It means that you can take a mortgage in a country of your choice as well as borrow to keep your investment options open.
When you are in the global business world, due to the high volatile nature of some currencies, it sometimes makes sense to convert your funds to a more stable currency. Perhaps you might also want to speculate and be ready for a global shift in the conversion rate or prepare for future conversion. With a multi currency account, you are at liberty to convert your funds to the currency that suits your needs. This helps you avoid the impact of short-term foreign exchange rate fluctuations.
Having a multi currency account also helps in saving on conversion costs. When you regularly receive money in a particular currency, and you always have to convert it, you are losing much on conversion costs. A foreign currency account helps you to save on the expenses by allowing you to receive or make the payment in your preferred currency.
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