Your Salary Is in Dollars, Rent Is in Dirhams, and Mortgage Is in Pounds–What's Your Home Currency?

Imagine this scenario. You’re come from a life in the UK, now working remotely in Dubai, for a company that’s based in the USA. Sounds amazing. Except now you have obligations in three different currencies. You’re getting paid your salary in USD. Your rent and daily life exists in AED, and you still have a mortgage to deal with back in the UK. So how do you manage all these financial obligations, and what currency should be in the centre? 

The day-to-day 

Starting off with AED, the daily driver in this story. Living in Dubai, you’ll be using it for everything, from shopping, to dining, to buying gifts for friends and family. It’s impossible to exist financially in a country without using native currency, and the UAE is no exception. A bank account that can handle AED natively is a must-have, and that’s where the iFAST Global Bank Multi-Currency Current Account comes in. With the iFAST Multi-Currency Current Account, you’re able to seamlessly spend and receive AED, allowing you to not worry about hefty currency conversion fees or exchange rates, ensuring that the money you use daily is properly protected from outside forces. 

Actually getting your money 

Working for a company based in the US usually means getting paid in USD, but getting paid USD into a non-USD bank account could mean your money is forcefully converted into the local currency at an undesirable rate. Rather than allow for that, it’s better to have an account that allows you to receive your money in USD and convert on your own terms. The iFAST Multi-Currency Current Account proves its worth once again, allowing you to hold USD in your current account, and convert it fee free at competitive rates whenever you feel like it, ensuring that your money isn’t devalued just for being paid in a different currency. 

Handling obligations back home 

Living life in a new country doesn’t mean that your links back home are completely severed. Maybe you still have a mortgage back home. Maybe you’re still paying maintenance costs on the house while you wait to sell it. Maybe you want to keep your house for when you inevitably return. Maybe you have other financial obligations in the UK, such as children’s schooling, elderly relatives, or maybe you just need a UK bank account in case you’re thinking of returning. Whatever the case, having a bank account that can deal with your home obligations is vital. Once again, the iFAST Global Bank Multi-Currency Current Account is here to help. As a digital bank based in the UK, the iFAST Multi-Currency Current Account naturally has a GBP balance option for its customers, so you can take care of UK expenses without difficulty. 

No single home currency 

The hard part about having your life split across multiple countries is that you don’t have a single home currency. Like this example above, you might live your daily life in AED, receive your salary in USD, and have financial obligations in GBP. But the benefit of having the iFAST Multi-Currency Current Account is that you don’t have to have a single home currency. Having the iFAST Multi-Currency Current Account means that you don’t need to worry about what currency you receive your salary in, or what currency you need to send. With the iFAST Multi-Currency Current Account, you can bank in up to 11 different currencies, with fee-free exchange between them, so that you’re never running out of one of your currencies, and can hold whatever currency you wish, at any time. Receive your money in USD, convert some into AED for your daily expenses, convert some into GDP to send at the end of the month, and earn interest on all of them, because the iFAST Global Bank rewards you just for keeping your money in your account, allowing you to earn interest on all eleven currencies available. * 

18+, Interest rates are variable and are subject to change. Details regarding the interest rates can be found on our website at www.ifastgb.com. Please refer to our website for full terms and conditions. Deposits up to £120,000 are fully protected by FSCS (Financial Services Compensation Scheme). https://www.fscs.org.uk/ has further details on the scheme. 

What living globally means 

Just because your life becomes more global, that doesn’t mean your financial life needs to become more complicated. You may get paid in a different currency compared to what you use daily, but that shouldn’t require you to have multiple bank accounts that complicate matters more. Banking with iFAST Global Bank ensures financial simplicity, no matter the currency, and no matter where you go. 

iFAST Global Bank: The Bank That Moves With You.