FairFX to launch its new business current account for SMEs

FairFX, an e-banking and international payments group, has announced its launch of a multi-currency business current account, Fair Everywhere.

This marks the company’s first step into the SME banking sector since its acquisition of CardOne earlier this year.

Fair Everywhere is to offer SMEs current accounts in multiple currencies that will incorporate full-service banking services combined with a low cost, international payment facility.

Ian Strafford-Taylor, CEO of FairFX, said: “It’s fantastic to reveal our planned launch of the Fair Everywhere business current account, the first new product coming from our pipeline of new digital banking services for SMEs.

“Our aspiration with Fair Everywhere is to make international business fairer, easier and more cost-effective, and the international payments functionality is a real differentiator compared to other service providers.”

With businesses able to open an account within a few hours, Fair Everywhere should enable business customers to send and receive funds from abroad at FairFX’s exchange rates. Additionally, the account will offer a rewards programme, which will allow customers to earn up to 3.5 per cent cashback on spending at big retailers.

Strafford-Taylor added: “Fair Everywhere also sees FairFX expand its product offering and make a significant move into the SME banking services space, targeting businesses that require cost effective, efficient current accounts.”

The new business current accounts will be made available to customers in early 2018.