Maintaining a multi-currency wallet is an easy yet demanding task at the same time. Companies cannot simply opt for such tools because they have a handful of international transactions or customers. Carrying out lighter tasks like international remittance can also be conducted via your bank account.
Multi-currency business accounts are specially designed for businesses with a foreign customer base and, thus, frequent cross-border transactions.
To clear some air, we have created a checklist for your business. Before taking a final call on the global wallets, we recommend you to glance through:-
- Your business sends regular international payments to suppliers, contractors, and other stakeholders.
- Receives cross-border payments from customers, clients, and other third parties.
- Your business models include selling and shipping your products and services to other countries.
- You are planning for a business expansion in foreign countries.
- Import or export raw materials.
- You have employees based in other countries.
- Your business outsource or hire freelancers or consultants from abroad.
- Your company sends employees for business conferences or meetings frequently.
- Your employees need to travel internationally for business purposes.