Source: https://rivet.global/blog/ireland-multi-currency-business-account
Published: 2026-08-25 · Updated: 2026-08-25 · By Alexia M.

# Multi-currency business account for Irish companies: EUR, GBP and USD

How Irish companies hold euros, sterling and dollars: bank currency accounts, digital multi-currency accounts, local details for UK and US clients, and FX margins.

## Key takeaways

- Irish banks offer foreign currency accounts reached by SWIFT; digital providers offer local details in several currencies.
- GBP details with a sort code let UK clients pay by Faster Payments; USD details let US clients pay by ACH.
- Holding sterling and dollars lets the company pay UK and US costs without converting twice.
- Compare the margin on GBP/EUR and USD/EUR against the mid-market rate.

More Irish exports go to the UK and US than almost anywhere else. For a small Irish company, that means sterling and dollar invoices every month, and a choice about how to receive them.

## Options

| | Currency account at an Irish bank | Multi-currency account with local details |
|---|---|---|
| UK client pays | SWIFT | Faster Payments to a sort code |
| US client pays | SWIFT | ACH to a routing number |
| Conversion | Bank rate | Usually closer to mid-market |
| Paying UK and US suppliers | SWIFT | Local rails |

## A month for a Limerick agency

Receives £25,000 from UK clients and $18,000 from US clients. Pays £6,000 to UK freelancers and $4,000 in US software. Holding both currencies, it pays those costs locally and converts only £19,000 and $14,000.

## What to check

1. Local details in GBP and USD in the company's name.
2. Margins on GBP/EUR and USD/EUR.
3. Payout fees to the UK and US.
4. Central Bank authorisation or safeguarding arrangements.

## Paying into Ireland: the local rail

| What | Detail |
|---|---|
| Local rail | SEPA Instant Credit Transfer |
| Run by | European Payments Council scheme, run by each bank |
| Settlement | Under ten seconds, 24/7 |
| Published fee | By the EU Instant Payments Regulation, no more than the bank charges for a standard SEPA transfer |

Source: [European Payments Council: SEPA Instant Credit Transfer](https://www.europeanpaymentscouncil.eu/what-we-do/sepa-instant-credit-transfer). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

Rivet gives Irish companies USD details on Starter and EUR and GBP on Growth, with payouts to 120+ countries and FX from 0.50%, shown before you confirm. Rivet is not a bank; regulated partner institutions hold the funds. See [multi-currency business account guide](/blog/multi-currency-business-account-guide).

## Questions

### Can an Irish company have a sterling account?

Yes. Irish banks offer sterling accounts, and multi-currency providers offer GBP details with a UK sort code.

### Why local details instead of a currency account?

A sterling account at an Irish bank is reached by SWIFT. UK sort code details are reached by Faster Payments, which is faster and cheaper for UK clients.

### How do I compare FX?

Price a real conversion, such as £20,000 to euros, against the mid-market rate at the same moment.

### What about accounting?

Irish companies record foreign currency in euros unless their functional currency differs. Keep each conversion's rate and date.