How do I create a Business account in another currency?

Opening a Business account with Paytron is quick and easy. Follow the steps below to get Foreign account details in a click of a button.

  • Log into Paytron

  • Click on “Accounts” from the left sidebar menu.

  • Click on “Add Account”.

  • Locate the preferred country for the business transaction account.

  • Select “Add”

  • Locate the new Business Account

  • Click “Show details” under the new Business Account to obtain your account details.

 

Opening an account denominated in a foreign currency used to be a paperwork heavy affair, but with Paytron, you can get it done in just a few clicks. In fact, you don't even need to create an account in most cases, we'll create one for you when it becomes necessary. More on that later.

Let's go through the manual way first. Once your company is approved, you'll see your AUD wallet on the accounts page by default. On the top right of the page, you can see an ‘Add account’ button. Clicking on this will bring a popup with all the supported currency accounts. Creating a new account is as simple as clicking this button.

As previously mentioned, Paytron will automatically create currency accounts for when they become necessary, both within Paytron and in your integrated accounting software. For example, if you convert into a currency you don't have an account for yet, it is automatically created and credited.

If you make a payment in a foreign currency by converting from AUD, an account will be created for that currency, both in Paytron and in your integrated accounting software, leaving an audit trail for your AUD account being debited, the foreign currency about being credited, and the foreign currency subsequently being debited as the payment goes out. This all happens automatically and all you have to do is pay