We provide a global transactions solution for online retailers that allows you to buy and sell your products all over the world more effectively. If you’re an online business and you want to maximise the revenue you receive in other currencies; we have an e-tailer package to suit you.
Our e-tailing solution ensures that you can sell products via Amazon and other online marketplaces and that you will receive the revenue in your currency of choice. Once you are registered with us you can set up “receiving accounts” for your business in different countries. We contact you to let you know when funds are received into your account/s and you can decide when you want to convert these to your currency or leave them to build up. Receiving accounts will mean that you do not need to go through the hassle of opening multiple currency accounts in different countries. It really is that simple.
When you purchase stock from overseas markets you may need to buy currency and make international payments to your suppliers. Most companies will do this through their bank however you can use our e-tailer solution to make the same transactions. Currencies Direct could save you time and money by using our online payment platform which allows you to pay suppliers in 40 different countries 24 hours a day with lower transaction charges and better exchange rates.
Step 1: Register 
Register your business with Currencies Direct. Simply complete our online registration form. We may need a few documents from you such as company registration documents and copies of directors’ passports to carry out compliance checks.
Once you are registered with us you will have access to an e-tailing specialist; a personal dealer to handle the setup of your receiving accounts and to manage your trades by phone, email and online using our online platform iPayFX.
Step 2: Receiving Accounts 
Tell us about the countries you want to trade with via an online marketplace such as Amazon. We will set up receiving accounts for you in those countries. You will be given your own exclusive bank account number. The account will be owned and managed by Currencies Direct so you don’t have to deal with the paperwork and headaches involved in opening a foreign bank account or pay taxes and duties. You can forward these unique bank account details to your chosen online marketplaces and start collecting your funds immediately.
Step 3: Transfer to your Account 
When funds are received into any of your accounts we will inform you – either by email or by phone whichever you prefer. You can then choose to convert these funds into the currency of your choice or wait until you have a larger sum to transfer. When you decide to transfer, you will be informed of the exact exchange rate if relevant and you will be told exactly how much money you will receive in your own bank account. We will then transfer the funds directly into your bank account.
Step 4: Paying Suppliers 
If you want to pay your overseas suppliers simply provide us with their details or enter them yourself on our online payments platform iPayFX. Once their details have been verified you can make payments to them by calling or emailing your dealer or in 3 clicks using our online platform iPayFX. We process 220,000 cross border payments every year, so we know how to do it right.
Take the first step. Register with us today.
If you are selling products via international Amazon marketplaces you can either open bank accounts in different countries or you can select an “Amazon Unified Account” which essentially bundles up all your payments from different countries and pays them into your account in your own single currency.
Unified account payments only cover certain countries so you may still need your own bank accounts for countries such as Italy and Spain. The advantage of the unified account is that you know that all your payments are put together and transferred into one account in one currency. The disadvantage is that you have no control over the exchange rate so what you gain in convenience, you may lose in additional cost.
Our receiving accounts will allow you to receive payments from all Eurozone countries in Euros. You can then choose how and when to move the money back to your bank account. The financial control is back in your hands.
This means that if you are a UK company selling on Amazon Italy, you can set up a receiving account to collect your funds in €. When you are ready, you can have the € converted into £ at wholesale exchange rates and sent back to your UK bank account.
Find out more by reviewing our FAQ section.
If you want to sell your products on Amazon Italy, Amazon Spain or another online marketplace, you may need to open a local account or an account located within the Eurozone. We can assist you by giving you access to a collection account which can be used to collect these payments and forward onto you.
The account is owned and managed by Currencies Direct but you have your own unique account number to receive funds from Amazon. As soon as you are registered with us we will provide you with the account details including an IBAN number which you will need to supply to Amazon.
When you generate sales, Amazon will make payments to your collections account – usually once every two weeks. When we see funds are on your account we will contact you so you can decide whether to transfer the funds immediately into your account or whether to wait for more funds to arrive.
Your dealer will give you a confirmed quote so you know exactly how much you will receive in your own bank account in your desired currency.
You will also be able to request statements for these accounts for your records.
Register now to start trading in Italy and Spain.
If you are a non UK company selling products on Amazon.co.uk or if you are a UK company selling on the Amazon.fr and Amazon.de platforms we are now able to offer you Transaction Accounts. These accounts are unique bank accounts exclusively for your use and can be entered directly onto the Amazon platform.
When you list products on an overseas Amazon marketplace, you will generate sales in the currency of that marketplace - GBP for sales on Amazon.co.uk and EUR for sales on Amazon.fr and Amazon.de. Using your Amazon Unified Account, you are able to convert these sales revenues into your own currency however Amazon will charge around 3% on all international sales to do this.
A Transaction Account can collect your GBP or EUR balances and convert them at a wholesale exchange rate which means that you can save over 2% of the amount being transacted. This is especially beneficial if your business is trying to cut operating costs or if you are trying to increase sales by reducing prices.
Once you input your Transaction Account details on the platform, Amazon will make payments directly into these accounts – usually once every two weeks. When we see funds are on your account we will contact you so you can decide whether to transfer the funds immediately into your account or whether to wait for more funds to arrive.
Your dealer will give you a confirmed quote so you know exactly how much you will receive in your own bank account in your desired currency.
You will also be able to request statements for these accounts for your records.
Register now to open accounts for Amazon.co.uk, Amazon.fr or Amazon.de by clicking here.
We are authorised by the UK Financial Services Authority (FSA) to provide payment services. This means we comply with FSA safeguarding rules which require us to keep our clients’ money separate from our own using segregated client accounts. We are also required to comply with comprehensive FSA rules which protect you by governing how we conduct our business and the levels of our capital resources. In short, you know we’re conducting business in the way we should.
When you trust us to receive funds on your behalf, we understand that you need to know your moneyis secure. Our16 year history in foreign exchange payments has been built on trust and integrity.
Currencies Direct have a Dun and Bradstreet credit rating of 1 which demonstrates that we have the highest level of creditworthiness and the minimum risk of failure. We also maintain the highest levels of compliance with the anti-money laundering policies specified by Her Majesty’s Revenue and Customs (HMRC).
Register now with confidence
- How long does it take to register for accounts?
- Once we receive the completed documents from you, the process will normally take around 2 weeks to complete. You will usually be issued with bank details within two weeks of submitting a complete application.
- How long will it take from when Amazon pays me into my account in to when I receive funds?
- Amazon sends payments using local ACH payment which takes around 3-4 days to reach your account from the date Amazon sends it. Once the money is credited onto your account, we will inform you and await your further instructions. Once you instruct us to pay the money to you, we will send the money immediately which means you should normally have it the same day or the next day.
- Which countries can I open accounts in with Currencies Direct?
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You may currently open accounts to collect balances from online sales in the following countries: Italy, Spain, Germany, France and the UK. German sales are collected in € accounts based in France.
Click here if you wish to apply for Italian,Spanish, UK, German or French accounts.
- What happens if the payment is in my own currency?
- We can pay you in any of over 50 currencies including the original currency of the account.
- Can you help with PayPal payments?
- Yes we can. If you use PayPal to receive payment from multiple countries, PayPal will normally convert all received currencies into your home currency and send it to your bank account. This is convenient however it is expensive as the rate of exchange applied can mean that up to 5% of the value is lost in currency conversion. You are able to use our services to avoidlosing this amount of money by having multiple PayPal accounts (one for each currency) which can then collect and forward money into your Currencies Direct receiving account where you can arrange for funds to be sent to your own bank account and achieve a much better exchange rate and lower transaction fees.
- What documents will I need to register?
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You will need to complete an online registration to apply for an account. You can do this using the Register Now links on this website
If you are a UK Limited company with UK resident shareholders and directors, you do not need to include any further documents initially, however we may require additional documents to satisfy our compliance obligations.
If you are a UK company but with non uk shareholders or directors, we will need copies of government issued photo ID (e.g. passports) and proof of address (utility bill or personal bank statement) no older than 3 months for those directors and shareholders.
If you are a business located outside of the UK you will need to supply the following documents:
• Copies of government issued photo ID (e.g. passports) for directors
• Copies of proof of address (utility bill or personal bank statement) no older than 3 months for directors and shareholders
• Copy of the Annual Tax return or other official document which confirms the names of the individual shareholders/owners of the business
• Copy of the certificate of incorporation (e.g. Handelsregister Auszug for German companies)
- Can I start trading with Amazon while you’re setting up my account?
- Yes, the funds simply remain with Amazon until we have set up your account. As soon as it is established you can provide Amazon with the account number and other information. Once we receive payment from them, we will contact you to arrange transfer into your account.
- Can I check my balances online?
- No, but you can contact us anytime by phone or email and we can check your account balance in Spain, Italy, UK, Germany or France. You can use our online platform to make outward payments to your overseas suppliers
We have good news for you. Currencies Direct will offer receiving accounts to e-tailers with zero account opening fees* and zero monthly charges.
To enable us to maintain this offer, we will ask you to carry out your non Amazon foreign exchange transactions and your international supplier payments through Currencies Direct. We make a commitment to offer better rates of exchange and lower transaction fees than you currently receive through your bank so you will benefit by saving money on these transactions too.
The fee schedule for the receiving accounts in the Eurozone for Italy, Spain, France & Germany is as follows:
Account set up fee: € 0 *
Monthly account fee: € 0
On demand electronic payment report: € 0 up to 12 months old
Transaction charge/wire fee: € 14 per transaction to your own bank account
Payment Investigations fee (per hour): € 0
Receiving fee on all credits: € 0.1% of the value
When forwarding €(EUR) from Currencies Direct receiving accounts into your own €(EUR) account without a foreign exchange conversion, Currencies Direct may charge an additional fee.
The fee schedule for the receiving accounts in the United Kingdom is as follows:
Account set up fee: £ 0 *
Monthly account fee: £ 0
On demand electronic payment report: £ 0 up to 12 months old
Transaction charge/wire fee: £ 10 per transaction to your own bank account
Payment Investigations fee (per hour): £ 0
Receiving fee on all credits: £ 0.1% of the value
When forwarding £(GBP) from Currencies Direct receiving accounts into your own £(GBP) account without a foreign exchange conversion, Currencies Direct may charge an additional fee.
* In some cases, if transactions volumes are below a certain threshold we may need to charge an account opening fee. This will be discussed with you before your application is processed.
- If you decide to close your account down, we may charge an account administration fee in case our costs have not been covered by transactions put through the account.
- If you do not use the account for an extended period of time, we may charge a non-use fee to cover our costs
- Currencies Direct reserves the right to close your receiving accounts at any time by giving you notice in writing