CaixaBank Launches Virtual Account Service for International Payment

CaixaBank, a Spanish multinational financial services company, has launched FXWallets, a service that lets users open virtual accounts to send and receive international payments in more than 50 currency pairs.

With this step, CaixaBank becomes the first bank in Spain to offer a virtual account service for currencies to all types of companies. The service is available in June in pilot mode for a select group of companies and, starting in September, it will be available to all interested customers. The service is accessed via CaixaBank's website and app, which will feature the FXNow currency market platform.

Iñaki Badiola, Director of CIB and International Banking at CaixaBank said: "the launch of FXWallets is a very significant step in the bank's steadfast commitment to innovation, internationalisation and engagement with our customers and their needs. The development of the project involved a detailed analysis of how we can apply the new advances in usability and customer experience to the universe of currency payments, placing the focus on the customer at all times. As a result, FXWallets is the latest piece to join a constantly evolving digital ecosystem that came into being with the creation of FXNow, which sought to give companies complete control over their currency operations and international payments."

FXWallets is being added as a new feature to CaixaBank FXNow, the CaixaBank platform for managing the sale and purchase of currencies. CaixaBank FXNow has been servicing CaixaBank's business customers in Spain since its creation in 2020. FXNow was also launched in Morocco​ in 2022 and, via BPI, in Portugal in 2023.