The e-banking and international payments group FairFX is set to launch its multi-currency business current account, marking its entrance into the SME banking sector.
The new business current accounts will be made available to customers in early 2018.
Fair Everywhere will offer SMEs current accounts in multiple currencies that will incorporate full banking services combined with a low-cost, international payment facility.
The account can be opened within a few hours, enables business customers to send and receive funds from abroad at FairFX’s exchange rates and offers a rewards programme which allows customers to earn up to 3.5% cash back on purchases at major retailers.
Ian Strafford-Taylor, CEO of FairFX, said: “It’s fantastic to reveal our planned launch of the Fair Everywhere business current account, the first new product coming from our pipeline of new digital banking services for SMEs.
“Our aspiration with Fair Everywhere is to make international business fairer, easier and more cost effective, and the international payments functionality is a real differentiator compared to other service providers.
“By making a small change in banking provider, businesses can make a big difference to their bottom line.
“Fair Everywhere also sees FairFX expand its product offering and make a significant move into the SME banking services space, targeting businesses that require cost-effective, efficient current accounts.
“We are looking forward to announcing the official launch of the Fair Everywhere product in early 2018.”
Earlier this year, FairFX acquired CardOne.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
U Account introduces cash pay-in option
U Account has launched a cash pay-in option for its 50,000 current account customers.
Aldermore provides £6.27m loan for south London development
Acre Invest has agreed a £6.27m funding package with Aldermore to build a large commercial unit and 18 apartments in Sydenham, south London.
Metro Bank to launch AI-powered money management service
Metro Bank has announced the upcoming release of Insights, a new artificial intelligence-powered money management service.
Over 500,000 complaints made about current accounts
The FCA has revealed that 509,047 complaints were made to financial services firms about current accounts during the second half of 2017.
A guide to ethical banking
Some 56% of workers with a pension are interested in investing in community projects, according to recent research.
Countingup partners with PrePay Solutions
PrePay Solutions (PPS) has joined forces with challenger bank Countingup to provide business accounting and banking together in one place.
TSB and Enterprise Nation offer SMEs digital MOT test
TSB’s small business customers have the opportunity to undertake a newly created digital MOT test as they join the Enterprise Nation community.
Revolut introduces spare change savings feature
Revolut has become the latest mobile banking platform to add a spare change savings feature to its current account.
GDPR compliance highlighted at first FIBA roadshow
The Financial Intermediary & Broker Association (FIBA) held its first regional roadshow last Thursday (12th April) in north London.
Moneyhub integrates with Monzo and Starling
Moneyhub has integrated with Monzo and Starling’s APIs to provide customers of the digital banks with a comprehensive overview of all their financial assets.