A large number of UK businesses, many of them small, sell to customers in other countries and although it can generate a fantastic revenue stream that can fuel significant growth, it does bring specific challenges.

One of the key challenges for UK-based businesses is accepting payments in other currencies, which provides many pitfalls, especially if you lack experience and knowledge. Small businesses can end up paying high bank account fees and charges, while not gaining much interest from their deposits.

To provide small UK businesses with a better option, iFAST Global Bank offers a multi-currency business account. So, what is it, how does it work and how does it benefit small UK businesses that accept payments from overseas?

In this episode we speak to Steve Chu, Head of Commercial Banking at iFAST Global Bank. He explains what a multi-currency business account is and when your business would need one.

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