Your business multi-currency account

To get a multi-currency account, you simply need to open an amnis account. Our onboarding is completely digital and takes around 30 – 40 minutes.

The multi-currency IBAN for your company will then be created automatically during the onboarding process. Thus, it will be available as soon as your amnis account is activated. You will receive an email when your onboarding is completed and your account is ready.

You can find all your amnis IBANs and payment instructions in our amnis WebApp by clicking on your name in the upper right corner and selecting “Payment instructions”.

When transferring money abroad, you can choose between two different payment routes:
a) SWIFT payments
b) Local payment routes

Which option you select, may depend on factors such as cost savings, ticket size, traceability, speed of execution, or simply the availability at the payment institution.

SWIFT

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a global messaging system largely used by banks and financial institutions for cross-border payments. A SWIFT transfer, also called an international money transfer, is a secure and internationally standardised method for sending or receiving money from banks all around the globe, which is why they can be received by almost everyone everywhere.

SWIFT payments come, however, at high cost, since banks usually charge transfer or recipient fees. The type of SWIFT transaction (BEN, OUR or SHA) will determine who incurs the fees.

Note that some banks may route your money via an intermediary bank if there is no direct relationship. This means that payment processes can get slower and more expensive, since there are more parties involved who charge fees. Minimizing these, sometimes quite significant, fees is a big part of the reason why companies look for local payment routes.

Local payment routes

Local payment routes are a relatively new, cost-effective payment method, which have been growing in availability in recent years. Local payment providers use a network of local bank accounts all over the world to get access to domestic payment schemes. By doing so, they can cut out intermediary banks and, thus, unnecessary fees.

Examples of domestic payment schemes include SEPA in Europe, Faster Payments in the UK and ACH in the United States.

Local payment routes allow you to execute and receive local payments in the domestic currency as if you were based domestically. This means that you can settle payments locally, without cross-border fees typically charged for SWIFT payments. You or your beneficiaries will therefore receive the full transaction amount, without any deduction.

Send and receive funds worldwide via our local and cross-border payment rails: Besides our local payment options, we have the capability to send any major currency to over 200 countries and receive money from more than 180 countries via SWIFT.

Please refer to our country list for a complete overview of supported currencies with your foreign currency business account.

We forward interest every month based on the balances you hold in your amnis EUR, USD, GBP, and CZK accounts in the first 10 days of the next month. Interest on the business account is calculated according to the act/360 interest method. The balance cashback rate is variable and updated monthly on our website here (retrospectively).

Please note that we reserve the right to change the rate or discontinue balance cashback payments at any time. There is no minimum amount or limit; therefore, we forward interest for the full amount in your amnis foreign currency accounts.

Your cash management on autopilot with amnis: Automated transactions facilitate your cash management and make your payments and currency exchanges more efficient. With an amnis multi-currency account, you have the flexibility to set up recurring transactions or trigger actions based on balance thresholds. This enables you to automatically convert incoming payments to your preferred currency or effortlessly execute salary payments through standing orders.

Thus, managing cash in multiple foreign currencies is now as easy as managing your email inbox: Just like setting rules to forward, delete or categorize emails helps save time, automating your transactions with amnis allows you to streamline your financial workflows with ease!