Multi-Currency Accounts for Business: Hold, Send, and Convert with Xe

Xe Corporate

October 14, 2025 — 5 min read

Introduction
What is a multi-currency account?
Multi-currency account vs. single-currency banking
Who benefits most
FAQ
Conclusion

Key takeaways

A multi-currency account lets your team hold, send, and convert in several currencies from one place, so you avoid back-and-forth conversions and pay partners in their currency.
Converting when it suits your cash flow helps you manage exposure to exchange rate moves, and you can also use forwards to lock a rate for future payments.
With Xe, you manage multi-currency balances, payments, and conversions in one platform with roles, real-time tracking, batch payouts, and API options, so finance gains control and visibility while reducing manual work.

Introduction

Paying suppliers and contractors in different countries is easier when you can hold and move money in their currency. A multi-currency account keeps those balances together, so you can convert when it suits you, settle faster with pre-funded funds, and track deliveries in one view. If exchange rates are moving, that flexibility can help protect margins and reduce surprises for your budget.

What is a multi-currency account?

A multi-currency account is a business account that supports multiple currencies at once. You can hold balances, convert between them, and pay out to your recipients without hopping across separate bank accounts. In practice, that means you can keep EUR for an upcoming invoice, pay a GBP supplier from your GBP balance, and convert only what you need, when you need it.

How Xe multi-currency accounts help finance teams

Capability	How it Helps
Hold multiple currency balances	Keep funds in the currencies you spend, avoid back-and-forth conversions, pay partners locally.
Pre-fund and pay from balances	Release payments quickly, reduce delays from funding gaps, keep operations moving.
Convert when the timing is right	Choose when to exchange based on cash flow and budgets, which can soften the impact of short-term rate moves.
Lock a future rate with forwards	Hedge known payables so budgets are more predictable.
Track payments in real time	See sent, delivered, and received, which helps AP answer vendor questions and close the books.
Schedule payments	Line up future-dated payments so they post on time without a last-minute rush.
Pay multiple recipients	Run payroll or supplier batches efficiently with consistent references for reconciliation.
Roles and approvals	Use maker-checker controls so the right people can create, view, or approve payments.
No setup or monthly account fees	Focus on conversions and payment operations rather than account overheads.

Multi-currency account vs. single-currency banking

The table outlines the practical differences you will notice once you switch. Use it as a checklist when you set up your process.

What a multi-currency account changes for AP, treasury, and reconciliation

Features vary by provider. Always confirm the specifics that matter to your team.

Area	Single-currency account	Multi-currency account
Currency control	Convert on the fly, possible double conversions	Hold balances and convert only when needed
Timing certainty	Pay as funds arrive, delays if funding is slow	Pre-fund and release payments on your schedule
Vendor experience	Pay in your currency, vendor may face a conversion	Pay in vendor’s currency for cleaner settlement
Reconciliation	External data in multiple systems	One view of balances, conversions, and payouts
Risk management	Limited timing control	Choose when to convert, or lock a forward rate
Operations	Separate accounts per currency	One account, roles and approvals in a single place

Who benefits most

AP specialists: Pay suppliers in their currency, avoid surprise conversions, and close invoices faster.

CFOs and controllers: Decide when to convert based on cash flow and budgets. If conditions are choppy, use a forward to lock a future rate.

CTOs and product teams: Add payouts and reconciliation into your stack through an API, while finance keeps oversight with roles and approvals.

Importers, IT services, travel and hospitality: Hold the currencies you spend, pay partners locally, and protect contribution margins when exchange rates move.

FAQ

1. Do I need several bank accounts to hold different currencies?
No. You can hold, convert, and pay from multiple balances in a single Xe business account.

2. How does a multi-currency account help with FX risk?
You can time conversions to cash flow and market conditions, which can reduce the impact of short-term rate moves. For known future payments, a forward contract can lock a rate.

3. Can I automate pay runs?
Yes. You can schedule payments, pay multiple recipients in one run, and use roles for maker-checker approvals. If you prefer to build, you can integrate via API.

4. How quickly can I use the account? Once set up, you can begin holding balances and paying from those balances right away.

Conclusion

A multi-currency account gives you control over when you convert, how you pay, and how you reconcile. If you are ready to simplify cross-border payables, open a multi-currency account with Xe or speak with our team about your workflow.

The content within this blog post is for informational purposes only and is not intended to constitute financial, legal, immigration, or tax advice. All figures and data are based on publicly available sources at the time of writing and are subject to change. Actual conditions may vary depending on location, timing, and personal circumstances. We recommend consulting official government resources or a licensed professional for the most up-to-date and personalized guidance.

Multi-Currency Account International Payments Cross-Border Payments Pre-funded Balances Scheduled Payments Batch Payments