With Multicurrency Account Services, financial institutions, global corporations, fund managers and broker dealers can transact money transfers, disbursements and collections in a wide range of currencies from one or more accounts and create economies of scale by consolidating with J.P. Morgan.
Multicurrency payments can be effected through J.P. Morgan's International Nostro correspondent network. Clients maintain demand deposit accounts (DDAs) with J.P. Morgan, which may include a "base" currency account for effecting foreign exchange conversions where a payment or receipt is required in a currency for which no account is held. Our multicurrency accounts support a robust mix of services such as foreign exchange, wire transfer payments and receipts (both treasury and commercial), inter-account transfers and drafts/checks. Because all incoming and outgoing cash flows are centralized, you can access a single Internet portal to resolve inquiries more effectively, reduce courier expenses for check deposits and simplify accounts administration.
How you benefit: