Multi-currency accounts
One account. Seven currencies.
Get paid in your buyer's currency, pay suppliers in theirs, and convert when the rate suits you — without opening a bank account in every market you trade with.
USD · SGD · HKD · EUR · AUD · CNH · GBP
The problem
The margin you negotiated is not the margin you keep.
You quote in dollars, your costs are in Singapore dollars, your buyer settles in euros, and you pay a supplier in Hong Kong. Every one of those hops goes through a correspondent bank that takes days and a spread you never see itemised.
None of it appears on your invoice, and all of it comes out of your margin. A deal priced at a sensible spread can arrive as a thin one, and the difference is almost always the currency leg rather than the trade.
Holding balances in the currencies your trade actually uses removes most of it. You receive where the money arrives, convert when the rate is acceptable rather than when a wire clears, and pay out without a round trip through your domestic bank.
- No local entity or bank account needed in each market
- Convert on your timing, at a rate you see before confirming
- Financed invoice proceeds land in the right wallet directly
How it works
Receive, hold, convert, pay.
Wallets are per currency, not per country. There is no application for each one.
- 01
Open the wallets you need
Once your company is onboarded, you can hold any of the supported currencies. No separate application, no local incorporation, no minimum balance per wallet.
- 02
Receive in the currency you invoiced
Give your buyer account details in their currency. The funds land in that wallet as they are, with no forced conversion on the way in.
- 03
Convert when the rate is acceptable
You see the rate and the converted amount before you confirm. Nothing converts automatically, and there is no spread buried in a rate you were shown after the fact.
- 04
Pay out from the same balance
Settle suppliers, freight and duties from the wallet that already holds that currency, rather than moving money home and back out again.
What the accounts cover
- 7 currencies
- USD, SGD, HKD, EUR, AUD, CNH and GBP
- 0 local entities
- Needed to hold a currency
- Pre-trade pricing
- The rate and amount shown before you confirm
- 1 platform
- Wallets sit beside your finance facility, not elsewhere
Payment services and foreign exchange may be provided by licensed third-party institutions depending on your jurisdiction. Availability and settlement times vary by currency and corridor.
The currencies
Held, not routed.
Each of these is a balance you hold, not a conversion you pass through. Money arrives in the currency it was sent in and leaves in the currency it is owed in.
- USD US dollar Buyer settlement, commodity pricing
- SGD Singapore dollar Operating costs, regional hub
- HKD Hong Kong dollar North Asia trade flows
- EUR Euro European buyers
- AUD Australian dollar Agri and resources corridors
- CNH Offshore renminbi Mainland supplier payments
- GBP Pound sterling UK buyers and agents
Corridor availability and settlement times vary. Payment and foreign exchange services may be provided by licensed third parties depending on your jurisdiction.
What you get
The parts that matter in practice.
Currency accounts are only useful if they connect to the rest of the money. These do.
- 01 Wired into your facility
- Proceeds from a financed invoice land in the currency wallet you chose, with no manual transfer between systems.
- 02 Rates before you commit
- The conversion rate and the amount you will receive, both shown before confirmation. No post-hoc spread.
- 03 Corridor coverage
- Local payment networks where they exist and SWIFT where they do not, chosen per corridor rather than by default.
- 04 Balances your finance team can reconcile
- Per-wallet statements and an audit trail on every conversion and payment.
- 05 Payments out to third parties
- Suppliers, freight forwarders, agents and duties — from the wallet that already holds the currency.
- 06 Screening on both ends
- Counterparty and sanctions checks on payments in and out, run through the same specialist provider as onboarding.
Questions
Practical questions.
Is this a bank account?
Not in the sense of a deposit account with a bank. TerraTrade provides the platform; payment and foreign exchange services are delivered through licensed institutions, and which one depends on your jurisdiction. We will tell you exactly who holds the funds and under what licence before you onboard.
Do I need a company in Singapore or Hong Kong to hold those currencies?
No. The wallets are attached to your onboarded entity, wherever it is registered, subject to the corridors and jurisdictions we can serve.
What does conversion cost?
A transparent margin on the rate, shown to you as a rate and a final amount before you confirm. There is no separate conversion fee layered on top, and nothing converts without you accepting.
Can I hold a balance indefinitely?
Yes. There is no forced conversion and no requirement to sweep to a home currency.
How fast do payments settle?
It depends on the corridor and the currency — local networks are usually same or next day, SWIFT routes longer. We will give you expected times per corridor rather than a single marketing number.
Can I use this without a finance facility?
The accounts are designed to sit alongside a receivables or payables facility, and that is where they are most useful. Talk to us about standalone use — the answer depends on your jurisdiction.
Next
Tell us your corridors.
Which currencies you invoice in, which you pay in, and where the money has to end up. We will tell you what the platform covers and what it would cost.
- Expected settlement times for your actual corridors
- Who holds the funds, and under which licence
- How the wallets connect to a finance facility if you have one