What Is a Foreign Currency Account? How to Open It?
People and businesses usually need to make payments in different currencies. A foreign currency account is like a regular bank account, but you can hold, send, and get money in…
Foreign Currency Account in India: How to Open It?
Cross-border management of finances has become relevant to individuals and businesses in the present context of a globalized economy. A foreign currency account in India has become an imperative financial…
5 strong reasons why businesses in high-risk industries require multi-currency IBANs?
Introduction to Multi-Currency IBANs In today's globalized economy, businesses are engaging in international transactions and commerce more than ever. Businesses involved in high-risk industries are faced with even more difficulties…
How To Open a Business Bank Account In India?
The business landscape in India is evolving and businesses need to open a business bank account for smooth financial transactions. Be it a small or large organization, the business…
What is Dynamic Currency Conversion (DCC)? How it works?
Dynamic currency conversion is a financial service that permits international visitors to pay for various goods as well as services in their home currency rather than the local currency of…
Foreign Exchange Risk Management: Complete Guide
Foreign exchange risk management has become an integral part of financial strategy for enterprises and investors engaged in foreign trade/investment. Firms operating internationally are exposed to volatile changes in…
Domiciliary Accounts: Types, Benefits and Charges
A domiciliary account is a foreign currency bank account that allows individuals and business organizations to hold and carry out transactions in various currencies, like the USD, GBP, or EUR.…
Everything about Vostro Account: A Detailed Guide
A Vostro Account simplifies various financial transactions between a foreign and a domestic bank by easily facilitating conversions of currency and cross-border settlements. It makes it possible to make…
What Are the Different Types of Current Accounts?
Essentially, current accounts are requisites for individuals and businesses. Unlike savings accounts, they grant more leeway to people who require frequent transactions. Whether running a business or dealing with personal…
Capital Account and Current Account: Know the Differences
On the international financial and economic aspects, the two terms that come to the fore are capital account and current account. To be sure, clear perceptions of the differences…