Does your local business receive GBP funds for goods or services offered to customers in the UK? Are you bogged down with fees and poor exchange rates when you receive these funds in GBP? Now you can do global business like a local by accessing GBP currency account details quickly and for free with World Account.
Australia and UK have a long-standing business relationship and is the 8th largest two-way trading partner with Australian services exports to the UK of $5.5 billion. Businesses exporting to the UK can save on their bottom line with pricing of 0.60% or less and no fees on cross currency exchanges above AUD $10,000. Local GBP currency account details can help your global business improve its customer experience by invoicing in local currency, while you operate on the other side of the world.
Why does your business need a GBP account:
Businesses can benefit from local GBP accounts when receiving funds in local currency as it allows your customers to make payments direct to a local account fast and securely. When converting the funds to your local currency, you will not be charged any fees on transfers of AUD $10,000 or more and can enjoy market-leading exchange rates.
You will also be able to make same currency payments direct from your account to your suppliers, or offshore contractors, which reduces the number of foreign exchange transactions required to operate a global business meaning potential savings to your bottom line.
What account details do we provide:
The World Account will give your business to access to the details you need to collect funds in local currency, including:
- An account number
- A sort code
- General bank information
How to open a GBP account with WorldFirst
- Sign up to a free World Account online in just a few minutes.
- Complete our on-boarding process where we get to know your business.
- We will instantly issue your GBP account. You can open as many as you like and we can also open accounts in USD, GBP, AUD, NZD, JPY, SGD, HKD, CNH and CAD.
- You provide your local GBP currency account details to business stakeholders such as customers on invoices, marketplace accounts and to your business partners.
- Once you have GBP in your account, you can repatriate at market-leading exchange rates or make same-currency payments direct from your account. Transfers can be online or through your dedicated account manager.
Our accounts are made for the collection of global funds relating to your business and a not made for long-term storing of funds.
These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement.
Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed.
All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice.
Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.