Making Payments Easier with a Multi-Currency Debit Card

Pay online in EUR, USD, CNY or any other currency while using ATMs all across the globe during your business trips – with one single multi-currency debit card and without extra banking fees. Multi-currency debit cards bring your multi-currency account to the physical world and allow you and your team to pay like a local wherever you are.

What is a multi-currency debit card?

Traditional debit cards are linked to your house bank account and allow you to pay online or withdraw money from ATMs through payment networks such as VISA or Mastercard. The problem: While payment networks usually have a moderate FX fee of around 1%, your issuing bank might add another 1.5% to 2.5% per transaction.

This is where a multi-currency international debit card comes into play. While standard debit cards usually allow you to only hold your home currency, a multi-currency debit card enables you to hold and pay with multiple currencies. By cutting out banking fees, you can significantly reduce your FX charges while adding more transparency to your company’s financial transactions.

What are the benefits of a multi-currency debit card?

A multi-currency debit card comes with a lot of advantages, as you cut out expensive and non-transparent banking fees.

Switch between multiple currencies

Your traditional bank debit card most likely doesn’t allow you to hold other currencies than your home currency. A multi-currency debit card, on the other hand, enables you to receive, hold and spend multiple currencies on- and offline as it’s linked to a multi-currency account. This eliminates the need to switch business bank accounts making your payment processes much easier and allowing you to limit exchange risks.

No conversion fees

If you frequently make transactions in another country, you can hold different currencies in order to eliminate conversion fees. Plus: If you don’t hold the needed currency, your provider automatically checks your overall multi-currency balance and converts your home currency to the local currency at transparent and fixed FX margins – no bad surprises when buying online or withdrawing money abroad.

Pay like a local, everywhere you are

No matter whether you need to pay for subscriptions online or access ATMs on your next business trip, payment networks such as Mastercard are available in over 210 countries, so that you never run out of cash. Thus, a multi-currency international debit card allows you to get money everywhere while cutting out expensive banking fees.

Full control of your finances

SMEs and corporations can assign cards to their purchasing team or any other department without losing control of their finances, as admin controls allow you to set limits (team budget limits or merchant type restrictions) and access the dashboard any time. Therefore, you know exactly when and how the budget is spent, can streamline your business transactions and speed up reporting.

When to choose a multi-currency debit card?

A multi-currency debit card offers a lot of benefits for businesses of all sizes. Firstly, you are able to buy from companies that offer their products and services online or through supplier marketplaces without spending too much money on FX rates. Secondly, you will never run out of cash during your business trips.

If you want to completely avoid foreign exchange costs, you are free to add multiple foreign currencies to your account. This not only gives you more flexibility, but also enables you to reduce the foreign exchange risk. Further, you never need to worry about hidden banking or FX fees, as all rates are clear and fixed from the beginning. Therefore, you can truly cut foreign transaction and conversion fees compared to debit or credit cards, which are issued by traditional banking providers.

Pay like a local with amnis

amnis’ multi-currency debit card offers many reasons why businesses should replace their traditional bank cards. The virtual and physical business debit card allows you to keep all frequently-used and even exotic currencies. If you don’t have the needed currency, amnis enables you to change the currency at FX rates way below traditional banks.

With amnis, you can issue more than 200 physical and unlimited virtual debit cards for your team within an easy-to-use platform that allows you to seamlessly export your transactions into your accounting software. amnis’ multi-currency international debit card is the easiest way to cut your transaction and FX costs, while increasing transparency of your financial processes.

Create your free amnis demo account and stay up to date

Next to the multi-currency debit card, you can use amnis to save on your international wire transfers. Create your free demo account with amnis to avoid SWIFT and use local payment schemes such as SEPA or ACH from wherever you are. amnis offers you all the tools needed to make your international payment processes as easy and cost-efficient as possible. Create your free demo account now to check how much you can save with amnis!