I’m interested in identifying options for multi-currency accounts where you get local/domestic account details for various currencies (rather than just a UK IBAN which can receive various currencies).
I’m aware that Revolut and HSBC also offer multi currency accounts, but I can’t find clear information on whether or not they provide local/domestic account details for any of the non-GBP currencies they support.
Wise is the only straightforward one I’ve found (I have a French direct debit that won’t accept a non-EU IBAN). Fineco is no longer available and Bankera is a Euro-only account with (IMO) a very intrusive application process.
Generally or entirely? Hard to tell from its website. If the former, do you know which non-GBP currencies it can provide domestic account details for (to UK account holders)?
They don’t give local/domestic details. The currency accounts come with a UK IBAN and BIC. Also a UK sort code and account number. Same with Global Money.
USD accounts come with local/domestic details. Account number, ACH routing number and wire routing number. UK IBAN and BIC.
For HSBC you need to open an account with the HSBC bank in the country you want account details in (if it exists, and if they let you). Once you do that though you can transfer money between HSBC countries instantly and fee-free.
It’s a whole application process so a lot less convenient than Wise where you open 1 account and practically automatically have details for every country they support.
Upside is you get a fully local account in that country. So for example an Australian account, you’d get an Australian debit card that works with the local eftpos debit card network as well as Visa, or NETS in Singapore, UnionPay in HK, etc.
I should add I also have a Wise business account for Airbnb income. There’s a one-off £40 setup fee but then it works exactly like the personal account with different pots for different currencies, which you can also make interest-paying. You can also add multiple users each of which can order a card without additional charges.
HMU for referrals obvs