Rakuten Worldfirst partnership: Why a multi-currency account is the answer to your international payments
Selling on marketplaces sometimes means you can be dealing with buyers from different countries and getting paid in various currencies. When you’re juggling different overseas bank accounts, worrying about exchange rates and facing delays in accessing your funds, this can affect your business operations.
What if there was a simpler, more efficient way to handle it all?
The power of a multi-currency account
Imagine having a single account where you can receive, hold and manage payments in multiple currencies, without having to constantly convert funds or pay unnecessary fees. Whether you’re paid in euros, dollars or yen, you can keep your funds in the currency you receive them in, giving you flexibility and control over when to convert or withdraw your money.
This kind of multi-currency management provides a real advantage as a seller when it comes to improving your cash flow, reducing exchange rate risk and making easy, fast and secure payments to suppliers around the world.
The World Account, your all-in-one solution
That’s exactly what the World Account offers. It’s designed to meet the needs of marketplace sellers looking to expand globally. With a World Account, you can:
Open 20+ local currency accounts
Collect your earnings from your Ratuken sales in local currencies without worrying about conversion fees. Your money goes straight into your account, and you can see all your earnings in different currencies in one central dashboard. Plus, it takes just minutes to open an account in the currency you need, no overseas address needed.
Hold and convert funds when it suits you
Instead of converting your earnings immediately, you can hold them in their original currency and wait until the exchange rate is in your favour to either convert them between your currency accounts or withdraw them home.
Manage multiple currencies in one place
No more juggling different bank accounts in different countries. The World Account allows you to receive and hold multiple currencies and use your balance to pay suppliers globally or make transfers.
Faster payments, better cash flow
One of the biggest benefits of the World Account is how quickly you can access your marketplace earnings. Your local currency accounts rely on domestic networks, not international ones, meaning payments take minutes or hours, rather than days, to arrive.
In terms of business operations, this allows you to reinvest in your business more quickly, pay suppliers on time or simply have the funds accessible when you need them.
Save on fees and exchange rates
Traditional banks often charge high fees for international payments, not to mention receiving fees and a currency conversion margin. Often, these fees aren’t transparent so you may not even be aware how much you’re being charged. With a World Account, you not only save on these charges, but you also benefit from competitive exchange rates. This means you keep more of your hard-earned profits and avoid losing money to unnecessary fees.
It's free to receive payments with a World Account, and all fees are clearly stated so you know exactly what you’re paying when you’re transferring funds to suppliers.
Financial stability and flexibility
A multi-currency account can also help protect your business from sudden changes in exchange rate. When you can hold funds in different currencies, you won’t need to worry about losing money when currencies fluctuate, giving you more stability and control over your profits.
Additionally, being able to use local currencies in key markets can give you an advantage over competitors. Customers appreciate the option to pay in their own currency, while you can strengthen relationships with suppliers by paying them in their preferred currency.
Ultimately, a multi-currency account empowers businesses to operate more efficiently on a global scale and stay competitive in the marketplace.
Ratuken has partnered with WorldFirst to offer Ratuken sellers a €49 monthly credit towards the Ratuken Expert Package for up to six months, when you open a World Account. Find out more here.