Spain’s CaixaBank has launched FXWallets, a virtual account service that enables companies to send and receive international payments in over 50 currency pairs. It is available in pilot mode and will be rolled out to all interested customers from September, making CaixaBank the first bank in Spain to offer such a service.
Facts
- CaixaBank has launched FXWallets, a virtual account service for international payments.
- FXWallets allows customers to open an account immediately with no opening or maintenance costs.
- It enables international payments in more than 50 currency pairs.
- The service is currently available in pilot mode for a select number of customers.
- It will be rolled out to all interested customers starting in September.
- CaixaBank becomes the first bank in Spain to offer such a service.
- FXWallets will be integrated as a new feature on FXNow, CaixaBank’s platform for managing currency sales and purchases.
- CaixaBank’s currency operations in Spain through the digital service channel have experienced year-over-year growth of over 150%.
- The launch of FXWallets is seen as a significant step towards internationalization for the bank.
