I've used Transferwise several times over the years, to convert currencies from one of my banks to another, and always been very satisfied.
Now they are proposing something near to a multi-currency account, which sounds very interesting.
I thought there might be a best current account thread I could add on to, but couldn't find it. And actually, perhaps this is slightly different from a current account.
From what I read there are no costs for holding the accounts as such, just small fees when a the account holder exchanges one currency for another. It says account holders get a proper IBAN account number for each currency, so if you had clients they could pay you in dollars, say, then you can get a very good exchange rate to convert to sterling or whichever currency is best for you.
I shall open an account, then I'll know more
I thought there might be a best current account thread I could add on to, but couldn't find it. And actually, perhaps this is slightly different from a current account.
I have AUD$ in an account here and and NZ$ in NZ because I have family there I visit.
I was hoping for bank accounts in those currencies which would make my transfers easier, but that option doesn't exist yet.
This will let me open a STG bank account in UK, and Euro bank account in Germany, with an IBAN specific to me, which is of some use. At the moment if I want to convert euro to STG I have to transfer the euro to a Transferwise account, so I will cut out that step.
It says I can hold the AUD$ in "my account" but that is not a bank account. Presumably it can wait there till the exchange rate meets my approval?
Further experimentation required.