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Your Guide to Business Accounts 💼
Your Guide to Business Accounts 💼

The Business Accounts feature, powered by Airwallex, provides businesses with an integrated solution for managing global payments, currency conversions, and multi-entity financial transactions—directly within the Vistra Platform.

Davin Wu avatar
Written by Davin Wu
Updated over a week ago

Manage Global Transactions with Ease on the Vistra Platform

Business Accounts on the Vistra Platform provide businesses with a seamless way to manage global transactions, hold multiple currencies, receive payments internationally via local payment rails, execute low-cost cross-border transfers, and convert currencies in real-time. Learn how to streamline global financial operations with entity-linked wallets, secure payouts, and competitive FX rates—all within the Vistra Platform.

Key Takeaway 🚀 : Securely manage multi-currency transactions across legal entities, collect payments via local payment rails, convert currencies real-time and execute fast and cost-effective transfers—directly from Business Accounts.


Key Features & Benefits

Entity-Linked Wallets for Seamless Management 🌍

  • Each Legal Entity in the Vistra Platform has its own dedicated wallet.

  • Effectively manage balances in multiple currencies within each entity’s wallet.

  • Real-time tracking of balances and transaction history.

  • Secure, bank-level encryption ensures financial data protection.

Receiving Payment via Global Accounts 💸

  • Open a Global Account to collect funds through local payment rails in 13 countries, across 22 currencies.

  • No forced FX conversions—hold, receive and disburse funds in local currencies to reduce exposure to currency fluctuations.

  • Account details (including bank name, account number) are listed under the legal entity’s name, ensuring transparency in collections.

Real-Time FX Conversions 💱

  • Convert funds between currencies with real-time FX rates, updated every minute.

  • View available balances and FX rates before executing instant currency conversion.

  • Exotic currencies (e.g., MYR) are converted at the point of payout.

Local & SWIFT Transfers 💳

  • Transfer funds locally using 60+ payment rails (e.g., SEPA, FAST, GIRO) for cheaper and faster payouts.

  • SWIFT transfers are available for international payments in currencies without local payment rail support.

  • See transfer fees upfront in real-time before completing a transaction, ensuring transparency.

Secure & Controlled Transactions 🔒

  • Role-based access control (RBAC) ensures secure access to financial tools.

  • Recipient management: Add details of recipients and payout beneficiaries before making transfers.

  • Custom payment references: Ensure payees recognize incoming payments.

  • Full transaction history tracking: Keep records of all conversions, transfers and payments.


How It Works: Step-by-Step Guide

Step 1: Accessing Business Accounts

  • Navigate to Business Accounts in the Vistra Platform.

  • View wallets linked to each Legal Entity.

    • Click on an entity’s wallet to access account details.

  • The “Balances” tab displays available funds across different currencies.

Step 2: Receiving Funds (Opening a Global Account)

  • Go to the “Global Accounts” tab.

  • Click “Create New Global Account”.

  • Enter an Account Name and Location, then click “Create Account”.

  • The Global Account is created instantly.

    • Click to view account details such as account name, account number, bank name, transfer capabilities and supported payment methods.

  • Share these details with clients to receive payments.

Step 3: Converting Currencies

  • Navigate to the “Conversions” tab.

  • Select the base currency and the currency you wish to convert to.

  • View real-time FX rates and available balances.

  • Confirm the conversion to update your wallet balances.

Step 4: Adding a Recipient for Payouts

  • Navigate to “Recipients” and click “Create New Recipient”.

  • Enter:

    • Bank Country/Region

    • Account Currency

    • Recipient Type

      • Business or Individual

    • Local Payout Rail (e.g., SEPA, FAST, GIRO, SWIFT)

    • Bank Name, Account Number, Account Holder Name, Account Holder Address and City.

  • Ensure account details are accurate to prevent payment failures.

Step 5: Making a Transfer

  • Go to the “Transfers” tab and click "New Transfer".

  • Select a recipient, enter the amount, and review transfer fees.

  • If sending exotic currencies, the FX conversion happens at this stage.

  • Provide a payment reference (entity name) to ensure recipient recognition.

  • Click “Create”—transaction status will update in real-time.

Step 6: Monitoring Transactions

  • Review all conversions and payouts in the “Transactions” tab.

  • Monitor account balances, transfer statuses, and history.


Why It Matters

Simplify Global Business Transactions 🎯

  • No need for separate banking platforms—manage entity-linked wallets, FX, and payments all in one platform.

Reduce Costs on FX & International Transactions 💰

  • Make payments using local payment rails instead of costly SWIFT transfers.

  • Avoid forced conversions and unnecessary FX fees.

Faster Settlements & Improved Cash Flow ⚡

  • Receive funds instantly via local collection accounts.

  • Transfer funds in as little as 20 minutes.

Optimised Currency Management 📊

  • Hold multiple currencies and convert funds in real-time at competitive FX rates.

🔗 More details on Global Account capabilities: Details on Global Account Capabilities


Use Cases

For Multinational Businesses: Open local accounts in key markets for seamless fund collection and management of global transactions.

For E-commerce & SaaS Platforms: Accept multi-currency payments from customers and pay vendors globally. Reduce transaction costs with local payment rails.

For Importers & Exporters: Avoid costly FX conversions by receiving and paying in the same currency.

For Payroll & Contractors: Pay employees and freelancers worldwide using fast, local payment networks.


Future Enhancements

Coming Soon 🚀 :

  • Automated Recurring Payments: Streamline payroll and supplier payments.

  • Advanced Transaction Reporting: Gain deeper financial insights with analytics tools.

  • Enhanced Recipient Verification: Reduce errors with automated validation.

Stay tuned for more updates on Business Accounts!

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