TransferWise operates in slightly different ways across different states and territories, to ensure legal compliance with state and federal laws, and maintain the safety of customer funds. Keep reading. Initiate wire transfer requests through PINACLE. A foreign currency account can increase the efficiency and ease of making transactions in other countries as well as provide a way to diversify your currency holdings. Read on for some good advice and thorough research. DO NOT check this box if you are using a public computer. Don’t trust a bank or exchange service who tell you they charge zero commission — they’ll simply hide their profits elsewhere, usually in a poor exchange rate. The PNC Financial Services Group, Inc. All rights reserved. The information contained herein (“Information”) was produced by an employee of PNC Bank, National Association’s (“PNC Bank”) foreign exchange and derivative products group. TransferWise is registered as a money transmitter in its own right in some states — and overseen by the relevant authorities. In other states, TransferWise works with partner institutions which are then regulated by the Office of the Comptroller of Currency. WE cover everything you need to know about the US Bank student account. You can also initiate funds transfer requests for accounts held at foreign banks, manage your foreign exchange transactions and access international trade services to reduce payment and collection risks. Gaining control and flexibility in your international cash flow can help your business grow beyond borders. Why Your Company Needs to Accept Mobile Payments, Getting Started with our Online & Mobile Banking, Read a summary of privacy rights for California residents. TransferWise takes a different approach, offering the real rate, and being upfront about their fees. TransferWise only banks with institutions in the US insured under the Federal Deposit Insurance Corporation (FDIC). See if a multi-currency borderless account from TransferWise suits your needs, today. How can I find my account and routing number? They’re especially useful for people studying or working abroad, those who draw an income from overseas, and entrepreneurs who need to pay staff and suppliers overseas. As blockchain technology evolves, there are opportunities for blockchains to significantly improve financial and clinical operations in healthcare. US high street banks often don’t offer foreign currency accounts … Easily view deposit and withdrawal details through PINACLE. Accounts can only be denominated in USD. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. dedicated security area of the TransferWise website. At First Republic Securities Company, LLC (Member FINRA/SIPC) we tailor investment solutions for our clients. Improve your European commercial payments with EUR or GBP-denominated demand deposit accounts. Every transaction is carried out using the mid-market exchange rate. This is seldom available from traditional banks, which tend to use it only for large institutional investors trading on the global market. Connecting you to a trusted network of resources created for your financial and personal success. Our Relationship Managers are ready to tailor financial solutions to suit your individual needs. borderless multi-currency account from TransferWise, the real mid-market, or interbank exchange rate. Foreign exchange restrictions may apply. By clicking Continue, you will be entering a third-party website. You can get a TransferWise borderless account as an individual or for your business. PNC and PINACLE are registered marks of The PNC Financial Services Group, Inc. Bank deposit, treasury management and lending products and services, and investment and wealth management, and fiduciary services are provided by PNC Bank, National Association, a wholly-owned subsidiary of PNC and Member FDIC. Global business transactions often require you to make and receive payments in currency other than U.S. dollars. There’s always a cost involved when you convert currencies. There are lots of ways a foreign currency account could help you manage your cash, to save you time and money. That means that the borderless account comes with many of the advantages of a regular multi-currency account and a few extras. Receiving international payments to your account, Send money in US dollars to an account in the US (personal), Send money in US dollars to an account in the US (business), Send money in US dollars to an account outside of the US, Borderless accounts are available for both personal and business purposes, No monthly fee, and no minimum account balance to worry about, You can hold your cash in any of dozens of currencies available and switch between them at, Send money to over 50 countries for the fairest exchange rate out there, Get local bank details to receive payments in several regions across the world like the UK, the EU, and Australia with no international transfer fees, Send USD to many different countries, with low fees and no exchange rate markup, Switch seamlessly between TransferWise borderless accounts for personal and business needs when you want to. The Information is of general market, economic, and political conditions or statistical summaries of financial data and is not an analysis of the price or market for any product or transaction. If you're looking for free checking accounts, we've got some excellent choices lined up for. Learn More », For more information, contact: Reduce the risk of potential losses and rate spread due to timing differences between incoming and outgoing foreign currency flows. Under no circumstances should any Information be used or considered as an offer or solicitation of an offer to participate in any particular transaction or strategy. PNC reserves the right to charge an Account Balance Fee on certain currencies. FDIC insurance does not cover losses due to devaluation of foreign currencies. Enjoy FDIC insurance on multicurrency deposits up the maximum limits provided by law. A College Student's Guide to Build Good Credit, What You Need to Know Before You Finance Your Next Car, Making Your Money Work Harder at Tax Time & Beyond, How to Make the Most of Your New Virtual Wallet®. It is not intended to amount to advice on which you should rely. Use our locator to find one of our offices near you. We cover everything you'll need to know. Foreign currency accounts, also known as multi-currency accounts, allow customers to hold their balance in one or more currencies other than US dollars (USD). Such Information is not a “research report” nor is it intended to constitute a “research report” (as defined by applicable regulations). Read on for our informative guide. Earnings Credit and Interest eligibility and rate are variable and subject to change at any time without notice or limit. This Information is for general information purposes only and is not intended as legal, tax, accounting, or financial advice, or recommendations to sell currencies or securities or to engage in any specific transactions and does not purport to be comprehensive. Read on. (Minimum $100,000 USD equivalent balances for interest-bearing accounts. Although Bank of America doesn’t offer customers multi-currency accounts, TransferWise can help. TransferWise has put together a guide on what your choices are (albeit, they would like you to give consideration to their … Our multicurrency accounts offer a simple and integrated way to manage and move money denominated in different currencies, so you can: Your business can choose the multicurrency account that best meets your needs. First Republic Trust Company takes a hands-on, personalized approach to a variety of trust services. You can find additional information about how TransferWise is regulated available online in the dedicated security area of the TransferWise website. PINACLE, PNC’s top-rated corporate online and mobile banking portal, can help you streamline your international cash flow management. For select currencies, interest-bearing multicurrency accounts are available.

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