Help centre / Deposits, conversions & withdrawals / 

How does my multi-currency account work?

Oftentimes all the companies we want to invest in aren’t listed on the same exchange nor are they traded in the same currency. This means you may need to be able to convert and hold currencies you don’t normally otherwise need. This can be a painful and costly hurdle to jump in trying to send and convert your money to the right currency, with others often charging high transaction fees and hidden spreads in conversion rates offered.
This is not true for Lightyear customers. All of our users have access to multi-currency accounts and can hold money in different currencies. As we expand our product, we’ll increase the currencies available in our multi-currency accounts as well.
Where eligible*, you’ll receive your own unique account details for each and be able to instantly convert between them.

What do these accounts cost?

These accounts are free. There are no one-off or monthly charges to open them or to deposit, hold and withdraw funds. We charge a transparent fee for conversion and give you the interbank exchange rate (see Fees and taxes).

How to use these currency accounts?

All account details are meant to be used to deposit or withdraw only the corresponding currency (e.g. your Lightyear EUR account details will only be able to accept EUR deposits). Be sure to double check you are sending the right currency to the right Lightyear account details as deposits may be rejected or incur fees which Lightyear cannot be responsible for. See also: Everything about deposits.
*See our What services do you offer and in which country? article to find out which account details you’re eligible to receive and any associated conversion fees for your region.

See also: [Choosing my portfolio currency]/help/trading-and-investments/choosing-your-portfolio-currency)
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