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FairFX launches international account for small businesses

The AIM-listed international payments group said its Fair Everywhere account would allow customers to manage their business banking and international money transfers in one place

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The account will only be available initially to 1,000 FairFX customers

FairFX Group Plc (LON:FFX) has launched a new global current account aimed at small businesses.

The AIM-listed international payments and e-banking group said its Fair Everywhere account would allow customers to manage all day-to-day business banking and international money transfers in one place with balances in sterling, euros and US dollars.

READ: FairFX sees “encouraging” growth in 2018 following acquisitions

FairFX also said account users would receive 3.5% cashback rewards from more than 50 UK high street retailers for using the account.

The account will also come with a Mastercard debit card which will allow the user to transact in over 210 countries.

Ian Strafford-Taylor, FairFX chief executive, said that the account would offer an all-inclusive price of £50 per month, adding that the group would be launching additional subscription tiers for businesses with different levels of turnover while also introducing a pay-as-you-go pricing option.

The account will only be available initially to 1,000 customers, with FairFX’s existing business customers offered priority access while others can join a waiting list.

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