Stay updated with Worldfirst tagged currency news, market trends, and exchange rate insights to make informed financial decisions.
WorldFirst World Card is a virtual Mastercard designed for global businesses, allowing online payments in multiple currencies with no FX fees.
We compare the features, exchange rates and security of the three best multi-currency accounts available today — the Wise Account, the WorldFirst World Account, and the OFX Global Currency Account.
WorldFirst World Account is a multi-currency business account that allows you to hold, send, and receive funds in over 40 currencies, making it ideal for global businesses and online market-place sellers.
WorldFirst is a market leader in the international payments space and is consistently ranked among the most reliable and cheapest money transfer handlers for four-figure sums.
New research from the European Central Bank shows that banks charge smaller customers up to 25 times more for FX forward transactions and that those who fail to compare providers pay 14 times more for FX than those that do.
For many currency routes, FX costs have been slashed in recent years by a number of industry-disrupting fintechs, allowing such firms to slice great chunks from the banking sector’s lucrative remittance markets. Banks are fighting back, though, by developing low-cost, digital offerings of their own.
Remittances to low and middle-income countries reached a record high last year, the World Bank has said. Average transaction costs remain high, with an average of 7 percent paid to transfer $200 or equivalent.
Ant Financial, the Chinese fintech giant that recently acquired WorldFirst, has set its sights on Europe, where it plans to take its share of both cross-border and point-of-sale payments.