In the constantly evolving realm of the travel industry, managing finances effectively has always been at the forefront of a successful business.
Today, we delve into the game-changing benefits of multi-currency accounts for travel companies, and why Equals Money's multi-currency account is leading the charge.
Multi-currency accounts for travel companies
What is a multi-currency account?
Before we dive deep, it's crucial to understand what a multi-currency account is. Essentially, this type of account allows businesses to hold multiple currencies in a single account. It's an ideal solution for travel companies, who regularly deal with international bookings, accommodations, and other transactions.
Why do travel companies need multi-currency accounts?
- Reduced currency conversion fees: Traditional banking often leads to multiple conversions and, consequently, multiple fees. With a multi-currency account, you can hold, manage, and transact in multiple currencies without the need for frequent conversions.
- Flexible payments: Travel companies can effortlessly make international payments. Whether it's paying a vendor in Japan or receiving a payment from a client in France, it becomes seamless.
- Mitigated currency risk: With the ability to hold various currencies, businesses can strategically choose when to convert money, hedging against unwanted currency fluctuations.
Why Equals Money's multi-currency account?
Choosing a reliable multi-currency account is paramount. Here's why Equals Money stands out:
- Multi-currency IBAN: A true multi-currency account will come with a multi-currency IBAN, a unique banking code that allows the management and movement of funds in a range of currencies, without the need for conversion. Unlike many of their competitors who offer multiple accounts dedicated to a single currency, Equals Money's multi-currency account supports 38 different currencies to manage, send, and receive funds in, all from a single centralised account.
- Reliability: Tried and trusted, Equals Money have helped their customers manage and move over £10 billion around the world since starting in 2005. Serving a UK audience, it understands the nuances of local and international travel business needs.
- Competitive rates: Equals Money offers competitive foreign exchange rates, ensuring that your travel company gets the most out of every transaction.
- Safeguarded funds: Protection of your finances is paramount. Equals Money protects customer funds via safeguarding, holding them in specially designated safeguarded bank accounts, separate from their other assets.*
- Dedicated customer service: Any queries or issues? Equals Money's dedicated customer service team is always ready to assist.
- Integrated technology: From real-time transaction updates to integration with accounting software, Equals Money ensures smooth financial management.
Taking the next step
For travel companies in the UK, the future is clear: A multi-currency account is no longer a luxury but a necessity. It not only simplifies financial management but also ensures optimal growth. If you're aiming to give your travel business the competitive edge it deserves, consider Equals Money's multi-currency account.
It's a decision that pays off, in more currencies than one.