Written by Modulr | Jul 24, 2025 11:00:00 PM
Virtual credit cards (VCCs) typically exist in a single currency. When transactions occur in another currency, the conversion (FX) usually happens through another mechanism allowing payments to be processed in that single currency. A multi-currency virtual card is a VCC that allows businesses to transact in multiple currencies without incurring traditional foreign exchange conversion fees. It does this by linking – and subsequently drawing from – multiple EMI accounts in a range of currencies, rather than a single account in one currency. Each currency balance is separate, and the card automatically draws from the matching currency balance, if available. If there's insufficient balance in a currency pot, then FX still occurs from your primary currency or whichever currency is available in the account.