iFAST Global Bank has rolled out a Commercial Banking Suite aimed at United Kingdom food and beverage small and medium-sized enterprises that trade across borders, offering a consolidated multi-currency account and a set of tools intended to simplify cross-border payments and currency management. According to the announcement, the package targets exporters, importers and distributors wrestling with the administrative and cost burdens of handling multiple currency accounts and international settlements. 

Central to the suite is a multi-currency business current account that holds nine major currencies under a single account number, GBP, USD, EUR, HKD, SGD, CNY, JPY, AED and CHF, allowing businesses to keep and manage several currencies without opening separate accounts for each. The bank also offers a Visa Business Debit Card that converts foreign transactions in real time and is accepted in more than 200 countries, a capability the bank says will reduce friction for staff travelling or paying overseas suppliers. 

To extend its reach for outbound payments, iFAST Global Bank has formed a commercial link with Standard Chartered, a relationship that builds on an existing wider partnership between the two groups in fund services and trade finance. Standard Chartered’s global payments network is expected to let customers send funds from any of the nine supported currencies to beneficiaries in more than 50 recipient currencies, providing greater flexibility to settle suppliers in their preferred tender. 

The suite includes deposit and working-capital features the bank promotes as competitive for SMEs: interest-bearing current accounts with variable AERs on sterling balances, fixed-term GBP deposits and notice accounts on selected products. Eligible deposits are covered up to the Financial Services Compensation Scheme limit, the bank states, and it markets the package as a one-stop option for firms keen to centralise treasury operations. 

iFAST Global Bank says it runs its own payments infrastructure and participates directly in the Bank of England’s Faster Payments, CHAPS and SWIFT systems, enabling both domestic and international money movement without intermediary routing. The lender has also introduced services to broaden inbound payment acceptance: an FX Inbound Auto Conversion facility and an app feature that transfers funds directly to a network of over 60 digital wallets in key remittance corridors, intended to speed recipient access and cut collection costs. 

Inayat Kashif, chief executive of iFAST Global Bank, described the bank’s approach to smaller businesses and its service model, saying: "We believe that every business starts small, and we are committed to providing the same consistent relationship management and service to all businesses regardless of their size." The bank has been recognised in recent industry awards for app-based savings and customer service, accolades it cites when positioning the new suite to SMEs. 

The move reflects broader dynamics in trade finance and digital payments: global banks and development institutions have intensified efforts to expand trade liquidity and make cross-border settlement more efficient, a trend highlighted by multi‑party programmes that finance and guarantee flows for importers and exporters. For UK food and beverage SMEs widening supplier networks and export activity, the new suite aims to offer more control over currency exposure and a lower operational burden than maintaining multiple accounts across different banks.