One business account that holds CAD, USD, EUR, GBP and other currencies side by side. Take payments in, hold them in the currency they arrived in, convert when the rate suits you, and send transfers out, without opening separate accounts in every market.
Online application·Account details per currency·Payments and transfers in the app·AML-led review under Canadian rules
If your business earns in one currency and pays out in another, a single-currency account quietly charges you twice.
Every conversion on the way in takes a margin, and so does the one on the way back out. The second account you opened to avoid that adds another login to watch and another statement to merge. Holding the currencies you already trade in, inside a single account, takes both problems off the table. Fenryx opens these accounts for registered companies only.
Multi-currency accounts hold separate balances in more than one currency inside a single business account. Payments arrive in the currency your customer sent, stay in that balance, and leave in the one your supplier expects. Nothing is converted unless you ask for it.
Each balance has its own account details. A payment in CAD lands in the CAD balance; a payment in EUR lands in the EUR balance. The app shows all of them on a single screen, and every transfer in or out is recorded against the balance it touched, so the account reconciles cleanly at month end.
A business bank account usually holds a single currency, so the second one means a second bank account, or accounts at two different banks. Multi-currency accounts keep them together. Fenryx is not a bank: we are a payment account provider, so the account holds and moves money for payments and transfers, without deposit-taking or lending attached.
A client pays into the details attached to the balance they hold.
Funds sit in that balance until you decide to do something with them.
Move between balances when the rate suits you, not on the day money arrives.
Suppliers and staff are paid from the balance that already holds the funds.
Five places where money leaves the business quietly, one transfer at a time.
A client pays in USD, the bank converts it to CAD on arrival, and you convert back when the US supplier invoice lands. One payment, two conversions, two margins.
A second one means a second account, often at a second bank. Two bank accounts become four, and each adds a login, a statement format and a balance nobody watches closely.
When the margin is folded into the rate instead of shown beside it, the real cost of moving funds between currencies only becomes visible after the transfer settles.
Money shuttled between accounts at different banks sits in transit for days. That is working capital you cannot spend and cannot see in either balance.
Card acquirers and marketplaces settle in whichever one their contract names. Without a matching balance, card payments get converted on arrival before you can use them.
With balances spread across separate bank accounts, the cash position is a spreadsheet exercise rather than a number your finance team reads off the app.
Every balance carries bank details you can put on an invoice, so clients pay into the balance they hold. Where a named IBAN account is required for incoming payments, it sits on the same profile.
Move money out of one balance and into another when the rate suits you. Each conversion happens on the account itself, so nothing leaves the app to be converted and come back.
Take in client transfers, card acquirer settlements and marketplace payouts. Each transfer credits the matching balance with its reference intact, ready to reconcile in the app.
Pay suppliers, contractors and staff out of the balance that already holds what they invoice in. Bank details for repeat beneficiaries are stored once and reused on the next transfer.
Where a card acquirer settles in USD and a marketplace settles in EUR, both card payments land in their own balance instead of being converted on arrival. Card products themselves are confirmed per business.
Run the account from the Fenryx app: every balance on a single screen, transfer status as each payment moves, and statements you can export per currency or across the whole account.
Revenue arrives in USD, costs stay in CAD. Holding both balances on the same account means you convert on your own timing instead of on every payment that lands.
You invoice in one currency and pay freelancers in another. Money never has to leave the account to be converted before the next transfer run goes out.
Card payments, marketplace settlements and refunds move in several currencies at once. One account with a balance for each keeps the cash position readable in the app.
Supplier invoices come in USD or EUR on their own schedule. Holding the balance ahead of the invoice takes the timing risk out of each transfer.
Three banks, four accounts, no single view. Moving the flows onto one multi-currency account replaces that patchwork with a single set of statements.
Five stages from application to a working account. We do not publish onboarding times, because the review decides them.
Tell us about the company, the currencies you need, and where payments arrive and where they go.
Company documents, ownership structure, directors and beneficial owners are checked together as one file.
Accounts open with the balances you agreed to, and app access is issued to the users you named.
Bring money in, run a small transfer out, and confirm bank details and timing before volume follows.
Hold, convert and pay from a single account, then export statements from the app into your bookkeeping.
A bank account brings credit and deposit protection, and a card programme covers spending. Holding several balances in one place is a different job, and this is what it changes week to week.
| Day to day | With Fenryx | With a typical single-currency setup |
|---|---|---|
| Your currency balances | Held together in one business account | A separate account for each one, often at a different provider |
| Converting between them | Done inside the account, at a moment you choose | Applied automatically the day money lands |
| Details to put on an invoice | Every balance you hold comes with its own | One set, in a single currency |
| Incoming settlements | Credited to the balance that matches the payment | Converted on arrival before you can use them |
| Paying suppliers and staff | Sent from the balance that already holds the funds | Funded by an internal transfer first, then converted |
| Month-end reporting | One statement set covering every balance | One export per account, merged by hand |
| Who answers when you ask | People who can see your account and your transfers | A general queue that cannot |
| Getting started | Application and verification run online | Branch appointments and paper forms |
The exact shape of your account follows the business behind it: the balances you need, where money comes from, where it goes, and what the compliance review concludes. We set that out for you in writing before anything is signed.
Registered companies only. We do not open personal accounts, and a business that cannot evidence its registration and its activity will not pass review.
The company, its ownership structure, beneficial owners, directors and anyone acting on the account, plus the purpose and intended nature of the business relationship. Review continues while the account is open, not only at the start.
Clients and counterparties are screened at onboarding and daily thereafter against Canadian, UN, OFAC, EU and UK sanctions regimes, with transaction monitoring across account activity.
Availability depends on jurisdiction and business activity, and some sectors sit outside our risk appetite. The full framework is set out in our AML Policy. Nothing on this page is financial, legal or tax advice.
An account like this is not the answer to every question. Two cases where we would point you elsewhere.
Overdrafts, loans, deposit protection and paying in cash over a counter are all things a licensed bank does and a payment account provider does not. If those define your week, a bank stays the centre of your setup. Plenty of companies keep both: the bank for financing, us for the money that moves.
If a single task dominates everything else, a tool built only for that task will usually beat a general account at it. The trade is the joins between tools, and the hours your finance team spends reconciling across them. Worth counting those hours before you switch anything.
Multi-currency accounts hold separate balances in more than one currency at the same time. Payments arrive in the currency your customer sent, stay in that balance, and leave in the one your supplier expects, with no forced conversion at either end.
CAD first, then USD, EUR and GBP. Fenryx is operated from Vancouver by a Canadian MSB, so the Canadian dollar is the primary balance on our accounts. Other currencies are available on request, and the set enabled for your account is agreed during onboarding.
Yes. The application, the document upload and the follow-up questions all run online. Accounts open once business verification is complete, with the currencies agreed during review enabled from day one and app access issued to your users.
You move money between two balances on the same account, from CAD into USD for example. The rate that applies and the terms attached to it are set out for your account in writing before you start.
The account is built around bank transfers rather than card spending. Card acquirer and marketplace settlements can be received into the matching balance, so card payments are not converted on arrival. Whether any card product is available to your business is confirmed during onboarding.
No. A bank takes deposits and lends; Fenryx is a digital finance platform and payment account provider operated by Globally United Tech Corporation, an MSB registered in Canada. Our accounts hold balances and move money by transfer, so bank deposit protection does not apply to money held with us.
It depends on how quickly documents arrive and how complex the ownership structure is. We do not publish onboarding times, because the review is what determines them. An indicative timeline is given for your business after the first look at the file.
Tell us which currencies your business needs and how money moves in and out. We will confirm what the account looks like for you.
Globally United Tech Corporation · Incorporation registration No: BC1482082 · MSB registration No: C100000396 · 142-757 West Hastings St PMB 818, Vancouver, BC, Canada. Fenryx is not a bank. Account features, currencies, limits and pricing depend on jurisdiction, business activity and the outcome of compliance review.