By Oliver Smith on Friday 5 November 2021
Making it easier to account for Euro and US Dollar transactions.
Connecting your business banking account with an accounting package like Xero has become fairly standard over the last few years.
Starling Bank today is taking this to the next level by adding its multi-currency accounts into the mix, making it easy for a business transacting in Euro or US Dollar to feed their figures into Xero in real time.
“That way, everything can be kept organised and up to date, making life easier for both you and your accountant,” the bank wrote in its announcement.
During November Starling is waiving these fees for the first three months if an account is applied for within the month.
Starling’s multi-currency accounts include a European IBAN or account/ACH routing number for the US, as well as a 0.4 per cent conversion fee on any currency conversions.
For now, the addition of multi-currency accounts to accounting platforms is limited to Xero, however the bank also offers support for QuickBooks, FreeAgent and PayStream in its Marketplace, so this could change in the future.