Most corporate banks allow you to hold foreign currencies in foreign currency bank accounts. For example, you could bank with Silicon Valley Bank and have three banks accounts in USD, EUR, and GBP. Holding a foreign currency allows you to send and receive money in that currency more easily, while also avoiding the need to exchange currencies often.
If you have foreign currency accounts that you'd like to connect to Modern Treasury, please ask your account manager to help you get set up.
We currently support foreign currency accounts at the following banks. If your bank is not listed, we can typically add support in a short timeframe.
Local payment rails supported
SWIFT wires supported
Bank of America
JP Morgan Chase
Silicon Valley Bank
Updated about 1 year ago