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FairFX launches international business current account for SMEs

Tom Belger | 12:30 Friday 29th June 2018

FairFX has announced the launch of its new global business current account aimed at SMEs.

The Fair Everywhere business account will bring together the e-banking and payments group’s expertise in international payments with services designed to make global business banking easier, faster and cheaper.

The Fair Everywhere account will allow customers to: 

  • manage all day-to-day business banking and international money transfers in one current account with balances in sterling, euros and US dollars
  • access highly competitive foreign exchange rates on cross-border transfers, helping businesses' bottom line performance
  • rely on dedicated customer service with unlimited access to a UK-based customer support team Monday to Saturday
  • transact in over 210 countries worldwide with a chip and PIN secure Mastercard debit card
  • fit your banking around you with the Fair Everywhere mobile app
  • receive 3.5% cashback rewards from over 50 UK high street retailers simply for doing business as usual
  • automate bill payments through direct debits or standing orders directly from their account.

The account will initially only be available to 1,000 customers, with existing FairFX business customers offered priority access, while other businesses can sign up to join a waiting list.

Ian Strafford-Taylor, CEO at FairFX (pictured above), said the account was for businesses that did not see barriers in borders.

“We've brought together the best of both our banking and currency platforms and kept it simple with a straightforward, all-inclusive price of £50 per month for an account that has been designed entirely to make it easier and cheaper for customers to manage their day-to-day finances.

"We know that most SMEs are not limited by their ambitions and as such they should not be limited by working with banks that penalise them with extortionate fees, complex pricing structures and poor service."

Ian added that it would be launching additional subscription tiers for businesses turning over different amounts and introducing a pay-as-you-go pricing option very quickly.

"With Fair Everywhere, we have taken our winning formula of combining market-leading value with quality service standards and applied it to the underserved SME banking market. 

“This international business account makes it easy for SMEs to manage their day-to-day finances as well as their international payments at exchange rates that are what we believe to be the fairest around and all from a single account.

"The Fair Everywhere cards will also be issued by the FairFX Group after the group became a principal member of Mastercard in 2017, which gives us even more control over our supply chain to enhance the product and customer experience.

"This launch is a big step for FairFX towards building out our banking and payments offering, and we're excited about growing with our customers."

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