Best multi-currency accounts you can open in the UK

If you have family overseas, spend time between countries or work as a freelancer with global clients, you might want to get yourself a multi-currency account.

But which is the best one available in the UK right now? In this guide, we’ll give you the lowdown on multi-currency accounts, also known as foreign currency accounts. We’ll look at how they work, the benefits, fees and how to apply - and of course, a list of specific accounts to check out.

This includes the Wise account from the money services provider Wise. It’s not a bank account but offers some similar features, and your money is safeguarded.

Over 12.8 million people worldwide use Wise to send, spend and convert money in 40+ currencies – for low, transparent fees* and no-markup exchange rates close to what you can see on Google. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

Learn more about the Wise account ➡️

Best multi-currency accounts in the UK

Now, let’s dive into our list of the best multi-currency accounts in the UK. Here’s a quick look at the main contenders, with more detail below.

Account	Currencies	Account fees	Debit card available?
HSBC Global Money Account	18	None	Yes
Revolut Personal Account	30+	£0 to £45/month	Yes
NatWest Cash Management Account	25	None	No
Barclays Foreign Currency Account	2	None	No
Wise account	40+	None	Yes

HSBC Global Money Account

The HSBC Global Money Account lets you hold up to 18 currencies at once, and convert between them when you need to with competitive live exchange rates. You can also send money without any HSBC fees to 200 countries in 50+ currencies.¹

You can order a Global Money debit card for no extra cost, which can be used for spending and withdrawing cash worldwide without any HSBC fees.

The account is managed via the HSBC UK Mobile Banking app, and it has no monthly or annual fees.

To apply for the account, you’ll need to have an active HSBC UK current account.

Revolut Personal Account

With a Revolut Personal Account, you’ll be able to hold and exchange money in 30+ currencies.²

The Revolut exchange rate is used to convert currency, with an extra fee of 1% applying to exchanges made at the weekend. You may also pay fees if you exceed your plan allowance for currency exchange.³

Revolut has a free plan with multi-currency features, although you can also upgrade to a paid plan - with monthly fees ranging from £3.99 to £45 a month.² All plans come with a debit card.

You can also use Revolut to make international transfers, with transfer fees varying depending on the destination. Paid plan holders can get a discount on these.

NatWest Cash Management Account

The NatWest Cash Management Account has no annual or monthly fee, and is designed for people living in the UK but domiciled elsewhere.⁴ So if you are a tax resident of France but spend time living in the UK, you may be eligible to open an account.

This international account lets you hold up to 25 major currencies,⁴ earn interest on your balance and transfer money without any NatWest fees. However, an agent's charge of £10 may apply for some international transfers.⁵

This is primarily a savings account though, so it doesn’t come with a debit card for spending or cash withdrawals.

To apply, you’ll need to make a minimum deposit of £25,000 or pay in a salary of at least £40,000 a year.⁴

Barclays Foreign Currency Account

The Barclays Foreign Currency Account is a little different to other accounts on our list, as it’s not strictly speaking multi-currency. You can only open the account in one of two major currencies - EUR or USD.⁶ However, you can have one of each if you like.

You can use online banking to make international transfers, with no Barclays fees in many cases. However, Overseas Delivery Charges may apply depending on the currency and destination.⁷

You won’t get a debit card with this account, and can only make cash withdrawals by calling ahead and then visiting a branch.

To apply for this account, you’ll need to already have a sterling (GBP) current account with Barclays in the UK.

Wise account

The Wise account has no monthly or annual account fees. You can send, spend and convert your money in 40+ currencies for low, transparent fees* and mid-market exchange rates. It's not a bank account but offers some similar features and your money is safeguarded.

You can also get the Wise card for a one-time fee of £7 (or the Wise virtual card for £0) to spend like a local in 150+ countries. This clever card automatically converts your pounds to the local currency whenever you spend, only adding a tiny, upfront currency conversion fee* – or it’s fee-free if you already have the local currency in your Wise account.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Low, transparent fees* and no-markup mid-market exchange rates Dedicated support and volume discounts for large transfers No monthly/annual account fees Sophisticated security and anti-fraud measures, with your money safeguarded under regulatory protections Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a return on your GBP, USD and EUR balance with Wise Interest**

Sign up with Wise for free 🚀

**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

What is a multi-currency account?

A multi-currency account is an account that lets you hold money in a foreign currency. In some cases, they let you hold multiple foreign currencies at once.

You can send and receive money in that currency, without the funds having to be converted into your home currency first. Alternatively, you can hold onto the money and wait to convert it at a good rate.

Some foreign currency accounts even come with a debit card, so you can spend in the currencies held in your account.

There are also dedicated multi-currency accounts for businesses.

Benefits of multi-currency accounts

A multi-currency account isn’t right for everyone. But it can offer a lot of benefits if you regularly deal with foreign currency or manage your money across international borders. Here are just a few:

• A simpler, more convenient way to manage your money - across multiple currencies, all in one place. This can make it far less complicated to keep on top of transactions and balances in different currencies.
• Faster payments in local currencies - without the delays and extra costs created by converting currency.
• Reduced transaction costs - while there may still be some fees to pay, foreign currency accounts eliminate many common international transfer fees.
• Reduced conversion costs - you can accept payments and spend in the foreign currency of your choice, without the need to convert currency. If you do need to convert money, you can usually access competitive live exchange rates so you can choose the best time to do the conversion.

How to choose the right multi-currency account for you

Nearly ready to open a foreign currency account, but don’t know which one to choose? Here are some key things to think about, to help you make the right decision for your needs:

• Currencies - does the account come in the right currency or currencies for your needs? You might need just a EUR account or USD account, or one capable of handling multiple currencies at once.
• Fees and charges - it’s important to compare monthly/annual fees, as well as charges for sending money and converting currency.
• Debit cards - is a debit card available with the account? This would let you spend in your chosen currency, without conversion charges.
• Security - it’s crucial to make sure your chosen multi-currency account has the right protection in place. Take some extra time to check out what kinds of cyber-security and anti-fraud measures are in place.

Are multi-currency accounts safe?

Whenever you’re keeping a significant amount of money in an account, it’s only natural to worry about security.

Make sure to choose an account that has sophisticated security and anti-fraud measures in place.

Multi-currency accounts with UK banks will have Financial Services Compensation Scheme (FSCS) protection for your money, just like with standard current and savings accounts.

Non-bank providers will have different protections, such as safeguarding schemes where your money is held separately from the provider’s own funds with a trusted bank or financial institution. So if the provider goes bankrupt, your money will still be protected.

How multi-currency accounts work

A multi-currency account works in a similar way to a standard bank account. The main difference is that you’ll have ‘sub-accounts’ for each of your currency balances. So one for EUR, one for GBP, one for USD and so on.

You can usually manage the account online and via mobile app, where you can see all of your currency balances. You can move money between currency balances, which will involve converting currency. And you can send and receive payments, as well as spending in your chosen currency using a linked debit card if available.

How to apply for a multi-currency account

In most cases, you can apply for a multi-currency account online. Some providers may carry out a credit check, while others will simply need you to verify your identity.

You’re likely to need your passport, driving licence or another form of photo ID, along with proof of address. As part of the signup process, you may need to upload your documents along with a selfie photo or video. This is just so that the provider can check that it’s really you.

Common fees for multi-currency accounts

Some providers charge a monthly or annual fee for foreign currency accounts, where you sign up to a paid subscription plan.

You may also encounter fees for sending and receiving international payments. Some may be fee-free for your chosen currency, but involve other charges such as correspondent bank fees and currency conversion charges.

Are there free multi-currency accounts in the UK?

Many foreign currency accounts are free to open and have no subscription fees, such as the Wise account.

But there are likely to be some fees for transactions, usually relating to sending international payments or converting money between currencies.

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Sources used:

1. HSBC - Global Money
2. Revolut - Personal Account
3. Revolut - Money Transfer
4. NatWest International - Cash Management Account
5. NatWest International - Personal Banking Account Terms and Fees
6. Barclays - Foreign Currency Account
7. Barclays - Fee Information Document

Sources last checked on date: 10-Apr-2025