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The Merits of Local Currency Accounts

Local currency accounts can offer businesses greater control, improved efficiency, and stronger global relationships—but there are also operational and regulatory considerations. Whatever your global business, choosing the right partner is essential.

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By Cross-Border
Apr 14, 2025
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BNN Bloomberg: Canadian unemployment rate could push BoC to neutral rate

BNN Bloomberg: Canadian unemployment rate could push BoC to neutral rate

Corpay Cross-Border Solutions chief market strategist Karl Schamotta joined BNN Bloomberg for a double-header this morning to discuss US and Canadian jobs numbers

Yahoo Finance: Bank of Canada rate pause likely amid 'extremely fluid' tariff situation: Economists

Yahoo Finance: Bank of Canada rate pause likely amid 'extremely fluid' tariff situation: Economists

"The unprecedented tidal wave of uncertainty that has washed across financial markets and the global economy looks unlikely to retreat in the near term," Karl Schamotta

CBC: Trump wants to upend the entire global order. Can he stomach the price tag?

CBC: Trump wants to upend the entire global order. Can he stomach the price tag?

"The U.S. can't have its cake and eat it, too," says Karl Schamotta, chief market strategist at the financial services firm Corpay Cross-Border Solutions.

2025 Economic Outlook Survey: Surfing the waves of market turbulence
Cross-BorderGlobal paymentsRisk management

2025 Economic Outlook Survey: Surfing the waves of market turbulence

Unpredictable market shifts can impact business' cash flow and profitability. We examine the challenges companies face as they look to refine their FX approach and make more informed decisions in what looks to be an increasingly challenging year ahead.

FX in Focus: The Merits of Local Currency Accounts

FX in Focus: The Merits of Local Currency Accounts

Why would a business consider opening a foreign currency account? We explore how companies making regular payments to international suppliers, or receiving payments from customers in multiple countries, could benefit from a local currency account.

Globe and Mail: Canadian dollar edges lower ahead of U.S. tariff announcement

Globe and Mail: Canadian dollar edges lower ahead of U.S. tariff announcement

“The foreign exchange market reaction could prove complex and counter-intuitive,” Karl Schamotta,

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