Owning multicurrency accounts provides numerous strategic and financial advantages for businesses engaged in international transactions. For enterprises with clients outside the Eurozone, offering to pay these clients in their local currency is possible. These funds can then be potentially reused to pay suppliers in the same currency, avoiding unnecessary conversion. Businesses can also take advantage of more favorable exchange rates when choosing the opportune moment to convert their funds. For
companies working with payment collection systems like Paypal or Adyen, connecting multicurrency accounts to these systems helps avoid costly conversion. Ultimately, multicurrency accounts simplify the process of receiving and making payments in foreign currencies, saving money for businesses.
Mondial Change offers the most comprehensive multicurrency account solution on the market by aggregating account-holding capabilities from several of the world's top payment institutions. As a broker in banking operations and payment services (COBSP), we have formed strategic and technological partnerships with multiple institutions specialized in this field. Thus, by using Mondial Change for managing your currency accounts, you benefit from the combined capabilities of our
partners while having Mondial Change as the sole point of contact for your daily operations. We offer accounts in over 40 currencies, each with a unique IBAN in your name, free of charge.
You can
view our overall capabilities for currency accounts across all partners here. Detailed information on the operation of accounts for each currency can be found by clicking on the ISO code of the currency.
Our currency accounts simplify the process of collecting funds in foreign currencies and reduce costs associated with receiving these transfers. These are accounts in your name with a unique IBAN, available in over 30 currencies and can be located in France or abroad based on your operational needs. They meet the requirements imposed by marketplaces like Amazon or payment systems like Stripe, which mandate having a bank account in the country of the currency to be paid in that currency. For example, you can open an account in dollars (USD) located in the United States, an account in British pounds (GBP) located in the United Kingdom, or an account in euros (EUR) located in any Eurozone country.
Currency accounts are opened in less than 1 hour and are entirely free. Unlike many banks, there are also no transaction fees on these accounts. You can check your account balances directly online on the platform we provide. Whenever a transfer is received into the account, you are notified by email.
Funds in the account can be held for as long as you want, and deposits can be remunerated under certain conditions.
Once your currency accounts are created with Mondial Change, you only need to communicate the bank details to your clients or enter these details into collection systems and marketplaces to start receiving your income in foreign currencies without any fees. You are automatically notified by email whenever a transfer is received into one of your accounts. You can then freely reuse these funds to make payments to your suppliers or convert these funds at a much more favorable rate than that offered by collection systems like Stripe, Adyen, or others. This solution typically allows you to gain an additional 2.5% to 4% in revenue.
Our partner Ebury is now able to offer cashback to certain clients on funds held in sterling (GBP), dollars (USD), and euros (EUR) accounts. To be eligible for cashback in a given month, you must maintain a minimum average balance of 50,000 euros (EUR) or the equivalent in dollars (USD) and pounds sterling (GBP). We reserve the right to stop offering this benefit at any time. This bonus applies only to new balances, and balances already held with Ebury are not eligible for cashback.
Your account manager can provide you with the cashback rates that apply to each currency. We plan to update the rates on a monthly basis, but Ebury reserves the right to change them at any time. Cashback will be calculated monthly and paid quarterly. Cashback will be paid in EUR and will appear on your account statement as a single payment. Cashback calculation will use your average balance throughout the month.
Payment collection systems in foreign currencies like Adyen, Stripe, Paypal, or internal systems within marketplaces like Amazon Pay are widely used by companies conducting international transactions. While these systems are efficient, if you don't have an account in the collected foreign currency, your income in that currency is automatically converted into euros at a significantly degraded exchange rate. Even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale occurs, which can be challenging with a traditional bank. Our currency accounts are compatible with most marketplaces and collection systems, allowing you to make significant savings.
When you receive funds in foreign currencies, you are naturally exposed to currency risk. Our hedging solutions allow you to protect your profit margins from currency fluctuation with ease. By locking in an exchange rate in advance, you gain better visibility into your future cash flows and safeguard against unfavorable exchange rate movements. Our risk team collaborates with you to understand the nature of your flows, meticulously analyzing the specificities of your business to offer flexible, tailor-made solutions that align with your needs, finding the best possible combination among the hedging instruments we provide.
Account statements covering all operations are downloadable at any time. Our technical team also undertakes specific developments tailored to your currency account management needs. This can include the integration of account movements into treasury software through MT940 files. Being technologically connected with all our partners allows you to retrieve all data related to your operations with any of our partners through Mondial Change. Therefore, using our intermediary and leveraging our partner network is more advantageous than engaging with entities outside our partner pool.
