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.

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 GBP account details will only be able to accept GBP deposits). Be sure to double-check 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. Make sure you use the exact details you see in the app and don’t forget to use the payment reference for each transfer you make. See also: Everything about deposits.

See also: Choosing my portfolio currency