Foreign Currency Merchant Account

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Navigating the World of Multi-Currency Payments

The Retail Research Organization has projected a substantial 15.6% growth in European e-commerce sales between 2015 and 2023, and this upward trend shows no signs of stopping globally. Embracing foreign currency payment options through a dedicated merchant account can significantly broaden your customer base and enhance your profits. In this comprehensive guide, we delve into everything you need to know when seeking the best multi-currency merchant service for your business.

Accepting Credit Card Payments in Different Currencies

Simplifying Face-to-Face Transactions

Accepting credit card payments in foreign currencies can be a straightforward process, with many acquiring banks offering this service. The key to successfully handling multi-currency payments is to maintain a bank account that accepts the relevant currency, typically within the country where that currency is in common use.


Processing face-to-face multi-currency payments brings numerous advantages. It not only makes merchants more accessible to a wider range of customers but also offers financial benefits. Some acquiring banks even provide currency merchant accounts that offer cashback on every foreign transaction processed, potentially reaching as high as 1%.


Multi-Currency Online Payment Gateway

Expanding Your Global Online Presence

When it comes to accepting payments from around the world online, the process becomes more complex. If your business operates within the UK, you’ll need a national merchant account. However, if you aspire to reach beyond the UK, an international merchant account is essential. This allows your business to accept payments in multiple currencies. Deciding on the currency in which you wish to receive your settlement payments is typically established before the application with the gateway and account provider.

The Advantages of Accepting Foreign Currency Sales

Diversification of Revenue Streams: Accepting foreign currencies reduces reliance on a single currency, providing a hedge against fluctuations in the domestic market and economic conditions.


Enhanced Customer Experience: Offering customers the convenience of paying in their local currency can result in higher satisfaction, leading to repeat business and positive reviews.

Global Brand Presence: Accepting foreign currency sales can boost a company’s international brand recognition, establishing it as a player in the global marketplace.

Reduced Currency Exchange Costs: By directly accepting foreign currencies, businesses can often reduce the costs associated with currency conversion, benefiting both the company and its international customers.


Understanding the Costs of Multi-Currency Merchant Accounts

The cost of processing foreign currency payments is often more affordable than you might think. Depending on your transaction history, rates can be as low as 2%. However, suppose you’re a start-up looking to utilise a foreign currency payment gateway and account. In that case, costs may be slightly higher in the initial months, until you establish a good transaction history and turnover.

How Can Merchant Advice Service Assist with Multi-Currency Payment Solutions?

Our team of experts is based in the UK but fully understands that successful businesses operate on a global scale. Our advisors possess extensive experience in multi-currency merchant accounts and gateways, spanning from Australia to the USA, and beyond. We specialise in processing card payments, especially those involving substantial monthly amounts. We are confident that we can find a solution to suit your business needs, ensuring the ability to process more than just local currency payments.


Contact us to speak with an advisor today.


Commonly Asked Questions
What is a multi-currency merchant account?
A multi-currency merchant account allows businesses to accept payments in various foreign currencies, expanding their customer base.
Are there benefits to processing multi-currency payments?
Yes, processing multi-currency payments can make your business more accessible to a wider range of customers and potentially offer financial benefits, including cashback on foreign transactions.
How much does it cost to have a multi-currency merchant account?
The cost can vary but is often as low as 2% of the transaction value. Startups may experience slightly higher costs initially.
What currencies can I accept with a multi-currency merchant account?
With a multi-currency merchant account, you can typically accept payments in a wide range of foreign currencies, depending on the provider’s capabilities.
Can I switch between national and international merchant accounts as my business expands?
Yes, many businesses start with a national merchant account and then transition to an international account as they expand their global reach. This flexibility is often available with providers.
What is the typical timeframe for processing multi-currency payments?
The processing time for multi-currency payments can vary, but it is typically completed within a few weeks, depending on the provider and the specific currencies involved.
Do I need to have a physical presence in the countries of the currencies I accept?
In most cases, you do not need a physical presence in those countries to accept payments in their currencies. Online transactions and international merchant accounts make this possible.
What are the security measures in place for multi-currency payments?
Multi-currency payment providers often employ robust security measures to protect your transactions, including encryption, fraud detection, and compliance with international payment regulations.

How MAS Can Help

At Merchant Advice Service, we’re committed to helping you unlock the potential of multi-currency payment solutions for your business. Our team of experts is dedicated to providing guidance, support, and tailored solutions to meet your unique needs. If you’re ready to embrace the world of multi-currency payments, contact us today, and let us assist you in expanding your global reach.

For more advice like this, visit our blog page!



In today’s global market, understanding and implementing multi-currency payments is crucial for business owners. Embracing multi-currency card payments processing is not just a convenience. It’s a strategic move to expand your products and services globally. It’s cost-effective, enhances customer support, and directly impacts your bottom line. 


Utilising card readers capable of handling various card networks ensures that you can receive payments from customers worldwide in real time. This approach strengthens your relationship with financial institutions. It also boosts the credibility of your business bank account.


Remember, every customer’s bank and card issuer is part of this international network. By adapting to the demands of online shopping, your business will thrive. You’ll be offering a seamless shopping experience. Implementing multi-currency payments is a step towards global success. It makes your business more accessible and customer-friendly.

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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