CaixaBank launches FXWallets service for international payments
Spain’s CaixaBank has announced the launch of FXWallets, a virtual account service that lets companies send and receive international payments.
CaixaBank launches FXWallets
The new offering allows customers to open an account immediately with no opening or maintenance costs and enables international payments in more than 50 currency pairs.
It is currently available in pilot mode for a select number of customers and will be rolled out to all interested customers starting September, making CaixaBank the first bank in Spain to offer such a service.
FXWallets will also be added as a new feature on FXNow, CaixaBank’s platform for managing the sale and purchase of currencies.
FXNow was launched in 2020 for CaixaBank’s business customers in Spain and later expanded into Morocco in 2022 and Portugal via BPI this year. CaixaBank claims its currency operations via the digital service channel in Spain have experienced year-over-year growth of more than 150%.
Iñaki Badiola, director of CIB and international banking at CaixaBank, says the launch of FXWallets is a “significant step” towards internationalisation for the bank.
“FXWallets is the latest piece to join a constantly evolving digital ecosystem that came into being with the creation of FXNow, which sought to give companies complete control over their currency operations and international payments,” Badiola adds.
