TransferGo Rolls Out Multi-Currency Business Accounts for International Payments

​TransferGo has introduced a multi-currency business account for companies in the United Kingdom and the European Union, enabling them to hold, exchange, send, and receive multiple currencies. The service aims to address inefficiencies in cross-border transactions, where businesses often encounter high fees, slow processing times, and currency exchange challenges.

The account allows businesses to centralise their financial operations, reducing reliance on multiple banking services. It offers competitive exchange rates, starting as low as 0.35%, and provides individual IBANs to facilitate localised payments. The initial rollout supports balances in GBP, EUR, RON, and PLN, with additional currencies expected in the future.

TransferGo’s expansion into business services reflects a broader shift in financial solutions for global companies. “We see that global business payments are still broken,” said Daumantas Dvilinskas, co-founder and CEO of TransferGo. “Not only do our services solve the various challenges faced by global businesses, but they’re up to nine times more affordable than those offered by traditional high-street banks. We want business owners to focus on growing their companies rather than struggling with supplier payments, international purchases, refund management, and other daily financial tasks.”

The company has also announced plans to introduce additional features such as multi-user access, batch payments, and savings accounts. “We’re just getting started,” said Justinas Lasevičius, co-founder of TransferGo and leader of TransferGo Business. “With over 50 new destinations in the pipeline and a lineup of business-tailored products… we’re committed to serving international businesses around the world with a full range of solutions to fuel their growth and international presence.”

The TransferGo Business account is now available in the UK and EU.