Glossary entry

Multi-currency account

A multi-currency account is an account that can hold balances in several currencies and convert between them, usually through an app. Features, fees and the way the exchange rate is set depend on the provider, so read the fee table and the conditions before you load money. Check also how your money is protected and what happens to a balance you do not spend. It can suit a traveler who wants to convert in stages, but it is one option among several. See also: travel money card, spread, and the guide How to Exchange Yen.