The Best Multi-Currency Accounts in the UK

Wise is the strongest all-rounder here for holding and getting paid in multiple currencies.

You can hold and convert 40+ currencies in one account, and you get local account details in 8 currencies:

All other 32+ currencies fall back to using SWIFT details for receiving payments (slower and more expensive).

Having local details in the 8 above, means you can receive money like a local, which is cheaper and much faster.

That is what makes it our pick for receiving. A salary, pension or invoice lands in your GBP, EUR or USD balance and stays there until you convert.

Now if you pair it with their fees, it gets even better.

Conversions use the real mid-market rate with a fee from 0.33%, among the lowest in the UK.

You can top up your Wise account instantly and free via Faster Payments from any UK bank, and spend on the Mastercard debit card in 150+ countries.

Wise is an e-money provider, not a bank, so your multi-currency account balance is safeguarded rather than FSCS deposit-protected.

There's also an option to receive interest on GBP, USD, and EUR balances, which is FSCS protected up to £85,000 as it's held as an investment, but this is slightly outside the scope here.

I’ve used Wise for years now, and in my opinion, it’s the simplest option to start with. It’s not always the best in anything, but it is so good at a lot of small and mainstream things.

Unless you need anything special, it’s a great place to start.

I personally love my Revolut card, and take it with me whenever I travel. So far, I’ve had less issues with it than with my Wise or Monzo cards abroad.

They are cheap, fast, and have reasonable free limits (especially for travelling).

On a weekday, within your plan's allowance, card payments in supported currencies convert at the interbank rate with nothing added on top.

That is the same mid-market rate Wise uses, but here it is built around the card for travel rather than receiving.

But, it gets more expensive on the weekend and once you go beyond your “fair usage” limit:

You can obviously upgrade and bump your free allowance which makes sense if you use other banking features. But, what I usually do is take my Revolut, Wise, and Monzo cards when I go abroad.

This usually covers all my needs, the limits, the currencies, and bumps ATM withdrawals. Whenever I need money, I just send GBP from one account to another and use the card.

Speaking of ATMs, you only get £200/m (or 5 withdrawals, whichever comes first), after that it's a 2% additional fee.

This is a bit lower than Wise, and much much lower than HSBC or Currencies Direct below.

One big win for Revolut, is that since March 2026 Revolut is a licensed UK bank, so eligible deposits are FSCS-protected up to £120,000. This is great, since you can now hold larger balances that are protected.

The biggest downside with Revolut is the lack of local details, meaning receiving money is not as cheap or quick as it is with Wise. But this only makes a real difference if you actually plan to receive money frequently into your account.

This is the main competitor to the HSBC above.

The limits are high, their exchange rate is much better (2% vs 3.06% on HSBC), and the fees are lower. The only real trade-off is no FSCS protection on balance.

Its daily card limit is £15,000 for UK residents, and ATM withdrawals are capped at £500 a day.

The card itself is free, with no monthly fee, and works with Apple Pay and Google Pay.

This is perfect for those living abroad but receiving money into their UK checking accounts. Think of things like interest, pensions, salary, etc.

All these need a way to go from GBP to your international account abroad without costing a small fortune.

As long as you can spend in one of those 19 currencies available, you are sorted with Currencies Direct.

The GBP you send to Currencies Direct is held in GBP balance on Currencies Direct side, you then convert it to whatever currency you need (GBP, EUR, USD, AUD, etc.) and spend from there directly.

If the currency is not supported, you can’t hold it but you can still spend and auto-convert at checkout. It’s a bit more expensive, a flat 2% fee, but still cheaper than a bank.

On top of that, ATM withdrawals carry a small fixed fee per withdrawal:

Anything that’s outside of these, will be charged at GBP rate.

This isn’t much, considering the limits you get. As example, withdrawing £500 with Revolut would cost £6 instead of £1 with Currencies Direct.

You also get USD and EUR local accounts, meaning you can get paid in these like a local, bypassing SWIFT entirely. Great if you live in Europe and need to be paid in euros.

Like Wise, it is not a bank. It is FCA-authorised as an e-money institution with client funds safeguarded, rather than FSCS deposit-protected.

If that’s what you’re worried about, keep the balance small and just keep it topped up for whenever you need money, since top-ups are quick and free.

HSBC is one of the few UK banks that offer dedicated multi-currency accounts, but you must have an existing current account with them to be able to use it.

It does not offer many currencies, and no local account details, but the international ATM limits are way above Revolut and Wise combined.

HSBC charges no fee of its own to withdraw or spend abroad, so as long as you hold the currency you are pulling out, the cash is effectively free.

Local cash-machine operators may still add their own charge, shown on screen before you confirm (always withdraw in local currency).

You can hold up to 18 currencies, covering most common travel and expat destinations, including EUR, USD, AUD, CAD, CHF, HKD, SGD, JPY and AED.

Convert GBP into your balance ahead of time, then withdraw it directly with nothing lost to conversion.

However, you will pay “HSBC exchange rate” on every conversion, which is around 3.06%. This is extremely high compared to Wise or Revolut.

This is the trade off you have with a traditional bank. You get higher limits but the fees are much higher too.

It suits someone living abroad who leans on cash, typically an expat who kept their UK HSBC account, rather than a tourist making the odd withdrawal.

For example, if you moved to Spain to retire and need to spend your pension in euros, this can be a convenient option. But even then, I suggest looking into Currencies Direct below (similar limits, lower fees).