FV Bank, the U.S. licensed global digital bank that offers traditional and digital asset banking and custody services, announced an expansion in its deposit capabilities that gives clients the option to deposit euros into their USD bank account.
In addition to USD deposits, account holders now “have the flexibility to receive euros directly into their FV Bank account, where euro deposits are automatically converted to USD upon processing.”
This integrated approach simplifies banking for FV Bank enterprise customers, offering an extended range of deposit options “without the need to open additional currency accounts. Account holders are given the facility to review daily EUR/USD conversion rates in the banking dashboard before initiating a deposit.”
The inclusion of euro deposits marks “a significant extension of FV Bank’s deposit capabilities, complementing existing services such as international and domestic USD wire transfers and ACH transactions.”
Miles Paschini, CEO of FV Bank, said:
“We are proud to announce the integration of euro deposits into our suite of financial services at FV Bank. This strategic enhancement underscores our commitment to providing our clients with a sophisticated and seamless global banking experience. The ability for account holders to receive euro deposits directly converted into their USD accounts, not only simplifies international transactions but also enriches our deposit capabilities.”
In addition to the new EUR deposit facility, FV Bank cross-border payments offering “gives clients the ability to transfer money from their account in 10 different currencies without the need to open additional accounts or hold foreign currency balances.”
The integration of euro deposits into FV Bank’s suite of services is “aligned with the company’s commitment to delivering comprehensive, seamless, and versatile financial solutions to international SMEs.”
The expansion of deposit options enables clients, “both businesses and individuals, to manage their funds with heightened convenience and efficiency, providing FV Bank’s international SME clients access to secure global banking services.”
As noted in the update, FV Bank is a globally recognized digital bank and digital asset custodian regulated “by the Office of the Commissioner of Financial Institutions (OCIF), Puerto Rico, USA.”
FV Bank says that it “integrates banking and payments with digital asset custody services within a regulated and compliant infrastructure. Offering a range of products and services, including depository accounts, payment services, digital asset custody, access to money market accounts and VISA card issuance, FV Bank caters to the unique requirements of corporates, institutions, family offices, and their clients through online banking and integrated API solutions.”