If you have suppliers abroad or sell to foreign customers, you have probably experienced that it can be expensive to exchange and pay from DKK to local currency and vice versa.
On our forex trading and payments platform, you can access favorable exchange rates, easily create local and foreign accounts, and a unique opportunity to easily send and receive money globally. The platform is one of the most competitive, and most comprehensive solutions for currency exchanges and international payments. We are pleased that we can allow Danish SMEs to trade effortlessly with the entire world.
Make exchanges and international payments easily
Gain access to an intuitive and modern platform that makes it easy to perform currency exchanges and online payments. You will have access to more than 100 different currencies at very advantageous rates.
Pay and receive like a local
Pay and receive like a local without needing multiple banks or a local presence, reducing friction and costs for your business.
Competitive exchange rates
Save money on currency exchanges and international payments with favorable exchange rates. Avoid high fees and extra costs.
Modern FX platform
Access one of the best and most complete solutions for currency exchange and international payments.
Access to competitive rates on more than 100 currencies.
Avoid costly currency exchanges with our extensive range of local accounts.
Ability to manage your international trading more efficiently.
Guide to currency trading
Does your business deal with foreign suppliers or customers? Then, you are familiar with the costs and challenges that arise when you pay or receive payments in a currency other than Danish kroner.
You can make smarter financial decisions and minimize costs with a good understanding of currency exchange and international payments.
In our new mini-guide, you will find tips to avoid expensive fees and make your international transactions more efficient.
Below, you can see how our new currency platform helps strengthen Danish SMEs' competitiveness and negotiating power and makes it easier and cheaper for them to do business with customers and suppliers abroad.
A Danish SME sells food products to several African countries but has been limited by local banks that often lack USD for their customers.
With kompasbanks' FX solution, the company can receive payments in local currencies, removing a significant trade barrier. This is expected to double sales to Africa.
A Danish SME runs a Shopify webshop and sells to countries worldwide, but currency exchange to DKK or EUR can be very expensive.
Since kompasbank's currency solution is fully integrated with Shopify, the company can transfer revenue to a local account and exchange it into any currency—at a significantly better rate. The result? Lower costs and greater savings.
A Danish SME buys goods in several Asian countries and typically pays one week before shipment to ensure that the supplier receives the payment.
With kompasbank’s FX solution, the company can pay its suppliers in local currency directly from a local account – faster and with extended liquidity.
Get a free introduction
Book a meeting with one of our advisors and gain insight into how we can help your business save time and money when trading with foreign partners.
Agenda for the meeting:
Mutual presentation
Your current setup for currency trading
Introduction to our FX trading solution
Opportunities for cooperation
Currency exchange
Timing of fund transfer
If you don't have a local account in the desired currency, it may take longer for the money to arrive, which can affect your business's liquidity.
High costs and spreads
When you exchange currency, a currency margin or "spread" is added to the base rate you see online.
Slow services
Many traditional banks lack self-service options for currency exchange. This can be inconvenient and slow
Limited currency selection
Many banks only offer a limited selection of currencies, which may not meet your needs.
We have entered into a partnership with a leading British fintech company, Ebury, which makes it easy for small and medium-sized companies to trade abroad. Ebury specializes in foreign exchange services, international payments, collections, risk management, etc., and thus offers most of the financial services a company needs in connection with global trade.
Ebury offers currency exchange in over 140 currencies and serves over 50,000 companies globally. Founded in 2009, it has offices in more than 25 countries and over 1,700 employees.
Since its establishment in 2009, Ebury has received over 20 international awards, including 'Financial Times 1000 Europe's fastest-growing companies 2020' and 'The Sunday Times Tech Track 100', highlighting Ebury as one of the leading fintech companies in Europe.
Get more information about the benefits, you can access through our partnership with Ebury.
Stay updated on the latest news, tips, and products from kompasbank, which can inspire and help you run your business more efficiently or secure a good interest rate on your personal savings.