CaixaBank launches FXwallets for international payments in Spain

By Gloria Methri

CaixaBank has launched FXWallets, a service that lets users open, immediately, intuitively, and with no opening or maintenance costs, virtual accounts to send and receive international payments in more than 50 currency pairs.

CaixaBank says it is the first bank in Spain to offer a virtual account service for currencies to all types of companies. The service is available in June in pilot mode for a select group of companies and, starting in September, it will be available to all interested customers. The service is accessed via CaixaBank’s website and app, which will feature the FXNow currency market platform.

The new FXWallets service is bringing to international payments all the advantages and security of traditional accounts, with the added benefits of significant advances in user-friendliness and immediacy. In fact, users can open a wallet in the desired currency with just two clicks and use it right away.

Iñaki Badiola, director of CIB and International Banking at CaixaBank said, “The launch of FXWallets is a very significant step in the bank’s steadfast commitment to innovation, internationalisation and engagement with our customers and their needs. The project involved a detailed analysis of how we can apply the new advances in usability and customer experience to the universe of currency payments, always placing the focus on the customer. As a result, FXWallets is the latest piece to join a constantly evolving digital ecosystem that came into being with FXNow, which sought to give companies complete control over their currency operations and international payments.”

FXWallets is being added as a new feature to CaixaBank FXNow, the platform for managing the sale and purchase of currencies. CaixaBank FXNow has been servicing the bank’s business customers in Spain since its creation in 2020. It was also launched in Morocco in 2022 and, via BPI, in Portugal in 2023.