FairFX to launch business current account

RNS Number : 6524X

FAIRFX Group PLC

28 November 2017

 

28 November 2017

FairFX Group plc

("FairFX" or "the Group" or "the Company")

FairFX to launch business current account - Fair Everywhere

FairFX, the e-banking and international payments group, is pleased to announce the launch of its multi-currency business current account, Fair Everywhere, marking FairFX's first step into the SME banking sector since its acquisition of CardOne earlier this year. The new business current accounts will be made available to customers in early 2018.

Fair Everywhere will offer SMEs current accounts in multiple currencies that will incorporate full-service banking services combined with a low cost, international payment facility. With businesses able to open an account within a few hours, Fair Everywhere will enable business customers to send and receive funds from abroad at FairFX's highly competitive exchange rates. Additionally, the account will offer a rewards programme, which will allow customers to earn up to 3.5% cash back on spending at major retailers.

The full benefits of the Fair Everywhere account can be viewed via the website www.faireverywhere.com.

Ian Strafford-Taylor, CEO of FairFX, said: "It's fantastic to reveal our planned launch of the Fair Everywhere business current account, the first new product coming from our pipeline of new digital banking services for SMEs. Our aspiration with Fair Everywhere is to make international business fairer, easier and more cost-effective, and the international payments functionality is a real differentiator compared to other service providers. By making a small change in banking provider, businesses can make a big difference to their bottom line.

"Fair Everywhere also sees FairFX expand its product offering and make a significant move into the SME banking services space, targeting businesses that require cost effective, efficient current accounts. We are looking forward to announcing the official launch of the Fair Everywhere product in early 2018."

Contact:

FairFX Group plc         Ian Strafford-Taylor, CEO	[phone]
Yellow Jersey                          Charles Goodwin Katie Bairsto	[phone] [phone]

About FairFX

FairFX is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low cost operating model. This enables personal and business customers to make easy, low-cost multi-currency payments in a broad range of currencies and across a range of FX products all via one integrated system. The FairFX platform facilitates payments either direct to Bank Accounts or at 30 million merchants and over 1 million ATM's in a broad range of countries globally via Mobile apps, the Internet, SMS, wire transfer and MasterCard/VISA debit cards.

FairFX provides banking and payment services to both personal and business customers through four channels: Currency Cards, Physical Currency, International Payments and Bank Accounts. The Currency Card and Physical Currency offerings facilitate multiple overseas payments at points of sale and ATM's whereas the International Payments channel supports wire transfer foreign exchange transactions direct to Bank Accounts. For Corporates, FairFX has a market-leading business-expenses solution based around its corporate prepaid platform and card that can yield significant savings on a Corporate's procurement through better controls and improved transparency and also streamline the procurement process thus saving administrative costs. Through the recent acquisition of CardOne, FairFX now has the capability to offer retail and business Bank Accounts with all the functionality you would expect from a Bank, namely faster payments, BACs, direct debits, international payments and a debit card.

 

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