Walcy’s Currency Accounts are bank accounts that allow account users to hold foreign currency denominations in another country and transfer them globally. Currency accounts are typically issued by financial institutions or fintech companies like Walcy. It aims to make it convenient for users to manage deposits in foreign countries and payout globally.
Walcy’s Currency Accounts in Singapore or the USA offer various components that benefit businesses significantly. Some standard features to look for are mentioned below.
Features of Walcy’s Currency Accounts
1. Competitive Foreign Exchange Rates
Currency Accounts by Walcy offers very competitive exchange rates in comparison to convention banks or dedicated currency exchange service institutions. Banking institutions scrupulously define the foreign exchange rates and it is essential to compare the exchange rates provided by such institutions. Because when the volume of a transaction is high, the exchange amount’s end value can vary noticeably. However, with Walcy you can rest assured as we ace at providing the most competitive rates possible.
2. Real-time Currency Conversion
Whenever a user tries for a payment or a transaction, Walcy’s Currency Accounts convert the funds automatically in real-time, using the mid-market prevailing exchange rate, in that instance. Since neobanks operate completely digitally and seamlessly, customers can experience seamless currency conversion without the hassle of conventional banks’ bureaucracy and manual operations. Additionally, it allows users instant calculations and transactions, ensuring even more transparency and confidence.
3. Convenience
These Walcy’s Currency Accounts can conveniently accept deposits and transfers on a global scale and can be created easily with minimal KYB requirements. One can use Walcy’s web app or mobile app to easily manage the currency accounts, this makes using Walcy convenient and portable.
4. Transfers at a Global Scale
Walcy allows businesses to deposit funds from banks or other neo-banks worldwide. This feature is particularly handy for businesses involving and requiring international operations and transactions, respectively. One major advantage of Walcy’s currency account is it provides access to local denominations. For instance, you receive US dollars while conducting business in the USA. For other countries too, it is akin.
5. Synced with Walcy’s Mobile App
Walcy offers a free mobile app for digital transactions enabling businesses to manage their accounts through a handy and intuitively built mobile app. Walcy’s mobile application enables businesses or relevant stakeholders to check balances and view the history of transactions. Additionally, it allows them to load funds into their currency accounts and manage currency just with the click of virtual buttons.
6. A Multitude of Walcy’s Currency Accounts to Select From
Currency Accounts allow businesses to hold currencies in multiple denominations which can be accessed easily from a single dashboard. These accounts support major foreign currencies from many countries, namely, USD, CAD, SGD, AUD, EUR, GBP, NZD and counting. This allows multi-national companies to manage finance from a single dashboard greatly reducing the pain of managing many denominations
7. Easy to Deposit Money
Walcy’s Currency Accounts spanning many countries can be loaded with funds through payment networks like SWIFT, ACH, FEDWIRE, and many more. Walcy offers real bank accounts with all the necessary details required to accept deposits globally. Any user can easily deposit sufficient funds to transfer them for relevant purposes. For example, the payment can be used for companies.
8. Notifications and Alerts
Walcy’s real-time notification systems and verbose transaction processes offer transaction notifications and alerts in real-time. Walcy sends notifications and alerts via SMS, Email, or mobile app notifications for transactions made with the card. These notifications further help to enhance security and track expenses.
9. Security Features
Security is the utmost priority for Walcy Bank. Therefore, these currency accounts have stringent security features to protect against attacks, fraud, and unauthorized transactions. We regularly audit our security features. Some of the protections include password protection, data-in-transit and resting data encryption, and transaction limits. Also, we support account freezing and blocking options, MFA (multi-factor authentication), Walcy’s advanced vulnerability management suite, and top-notch scanning, prioritization, and remediation workflows.
Key Consideration
If you’re thinking about getting Walcy’s Currency Accounts in supported countries, it’s important to take a close look at the terms and conditions. Similarly, issuance fees, transaction, fees, and fund loading fees, as well as the level of customer support provided should also be considered. Since only a few of the companies provide top-notch services, Walcy is proud of itself as being at the forefront of providing the best customer services. Furthermore, comparing what extra services Walcy provides than the other neo-banks is also a good idea. However, we relentlessly try to become the best service provider in the realm of neo-banking.
5 Benefits of Walcy’s Currency Accounts for Businesses in Singapore and the USA
It is important to note that other countries too can benefit from the same advantages. The unique advantages of Currency Accounts can surely attract businesses to get themselves to use them. However, there can be a multitude of reasons for any business to choose Walcy’s Currency Accounts, like the ones mentioned below:
1. Efficient Currency Management
Walcy enables businesses to hold and manage multiple currencies through Currency Accounts on a single dashboard. This eliminates the need to open and manage separate bank accounts for various currencies. With Walcy’s Currency Accounts, businesses can conveniently transact across different currencies, streamlining currency management and reducing administrative complexity for the finance or accounts team.
2. Convenient Global Payments
With the help of Walcy’s Currency Accounts, businesses can make international payments in various currency denominations seamlessly at competitive FX and Payout rates. This allows businesses to get rid of tedious currency conversions or wired transfers, easing the payment process and visibly reducing global transaction costs.
3. Cost Savings
Currency Accounts from Walcy offer lower exchange rates than conventional currency conversion services or international wire transfers. By utilizing the card for foreign currency payments, businesses can potentially save on repeated currency conversion fees and secure more favourable exchange rates.
4. Realtime Walcy’s Currency Accounts Management
The mobile app and web app from Walcy enable businesses to observe account balances and monitor previous transactions. Similarly, it also allows users to monitor currency holdings in real-time via our real-time notification systems and real-time alert mechanisms. This is to provide businesses with better control and greater visibility over their international transactions.
5. Enhanced Security Measures
Walcy’s security features include transaction alerts, token-based login, robust encryption, new device login alerts, account block/freeze options if the user compromises the password and many more. This will protect businesses against fraudulent and unauthorized transactions.
Conclusion
Walcy’s Currency Accounts provide businesses in Singapore, the USA, and other major countries with convenience and noticeable financial savings in global transactions. Similarly, it also provides better financial control and increased flexibility. Therefore, every business requiring or with a global footprint should consider onboarding with Walcy and getting Walcy’s Currency Accounts.
If you require business transactions that transcend borders, then Walcy's Currency Accounts can surely impress you.
