Currencies Direct Multi-Currency Account for online sellers

Get better exchange rates for your e-commerce business and manage payments from customers around the world.

  • Good for managing money in four different currencies and the range of marketplaces it's compatible with.
  • Not so great for immediate customer service, with a non-Australian based office.

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How does a Currencies Direct Multi-Currency Account work?

The Currencies Direct Multi-Currency Account is designed to make it easier for marketplace sellers to manage their international payments. It allows you to use one online account to receive payments and hold funds in four currencies:

  • GBP British pound
  • EUR Euro
  • JPY Japanese yen
  • USD US dollar

This means you can collect payments from the USA, UK, Japan, France, Germany, Spain and Italy, as well as any other European country that accepts the euro. You'll also be able to make payments to over 40 different currencies with AUD or one of the currencies listed above, like a normal international money transfer. You can read more about making money transfers with Currencies Direct in our guide.

A Currencies Direct Multi-Currency Account saves you the hassle of opening multiple overseas bank accounts, which can make managing cash flow easier. This means you can get paid in the local currency, enjoy fast access to sales revenue and transfer your funds back to Australia when needed.

The fact that you can hold funds in multiple currencies also gives you the freedom to monitor foreign exchange markets and convert your money into AUD when the exchange rate is at its highest.

Finally, you can have sales profits paid into your Currencies Direct Multi-Currency Account from more than 25 online marketplaces, including:

  • Amazon
  • eBay
  • Game
  • Groupon
  • Newegg
  • Overstock
  • Play
  • Rakuten
  • Shopify
  • Wayfair
  • Wish

Why should I use this instead of PayPal?

PayPal is a hugely popular and convenient online payment option. However, it does have a couple of key drawbacks for online sellers:

    • Payment fees apply. When you receive money for something you've sold, you need to pay a fee. For PayPal Wallet transactions, this fee is 2.6% + $0.30 for payments from Australia, or 3.6% + a fixed fee for international payments.
    • Currency conversion fees apply. When you receive payments in currencies other than Australian dollars, PayPal converts them to AUD at a rate 2.5% above its base exchange rate.

In comparison, the Currencies Direct Multi-Currency Account charges a 0.1% fee on all payments received. It also offers competitive exchange rates and gives you the freedom to choose when you want to convert your payments back into AUD. As a result, using a Currencies Direct Multi-Currency Account instead of PayPal could mean big savings for your e-commerce business.

Currencies Direct Multi-Currency Account fees

The Currencies Direct Multi-Currency Account doesn't have any:

  • Account opening fees
  • Monthly fees
  • Payment fees

However, a 0.1% receiving fee applies to all payments made into your account. This fee is incorporated into your exchange rate, but is shown separately on your account statement.

The Currencies Direct website also mentions that same-currency transfers are available "at a competitive rate". However, you'll need to contact the provider's customer support team for more details about any fees that may apply.

In a nutshell


  • Competitive exchange rates. When you want to convert funds within your account to another currency or send a transfer back to Australia, the exchange rates offered by Currencies Direct are often better than what you'll see at the major banks.
  • Convenient features. You can use your Multi-Currency Account to set up automated payments, receive rate alert notifications to secure your ideal exchange rate, and set up automatic account withdrawals.
  • Easy to use. You can manage multiple currencies using a simple and straightforward online interface, with 24/7 access to your account.
  • Regulated. Currencies Direct was established in 1996 and has branches in eight countries. It's authorised by the UK's Financial Conduct Authority as an Electronic Money Institution and processes all customer money through a segregated bank account.


  • Multi-Currency Account only supports four currencies. You can only use this account to receive payments in four currencies, which is less than other online seller accounts.
  • UK-based. Currencies Direct is headquartered in the UK and has over 20 branches around the world, but none of them are in Australia.
  • Fees apply. A 0.1% receiving fee applies to all payments made into your Multi-Currency Account.

How does a Currencies Direct compare to other marketplace seller services?

To find out how the Currencies Direct Multi-Currency Account stacks up against the competition, enter your payment details in the table below.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 1 day AUD 0.00 0.739 USD
Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments. Go to site Show details
AUD 250 1 day AUD 0.00 0.738 USD
Finder exclusive: $0 transfer fees on any transferred amount.
Receive local bank account details for 6 currencies. Free account signup with 24/7 support.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.742 USD
Send or receive money with the real exchange rate and a multi-currency account. You can also get local bank account details in the UK, US, Europe, New Zealand and Canada. Go to site Show details
AUD 10 Same day AUD 0.00 0.739 USD
Airwallex can help you make business payments to 23+ currencies using competitive interbank rates and no fees for most transfers. Go to site Show details

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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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