Corporates waste millions on currency accounts

Corporates could save millions of dollars a year in account fees and transaction costs by shutting down multiple foreign currency accounts and using the hybrid treasury/FX desk systems under development at some banks.

The hybrid approach – a new trend championed by a handful of global banks – allows clients to significantly reduce the number of foreign currency accounts they use with local banks to process offshore payments and replace them with a single funding account, often denominated in a