Not sure if you're the kind of person who could really use a Forex account? This facility can be beneficial for a wide range of individuals, each with their own unique needs and goals.
Here are some types of people who might find a Forex account particularly useful:
1. Frequent travellers
People who travel internationally for work or leisure can benefit from a Forex account as it allows them to hold and manage foreign currencies without the hassle of constant conversions. This can make it easier to budget and spend in the local currency of their destination.
2. Expats and international workers
For those living and working abroad, a Forex account provides a convenient way to manage multiple currencies. It allows them to receive payments in foreign currencies, save in their currency of choice, and convert funds back to their home currency when needed.
3. Investors and traders
Individuals involved in Forex trading or who have investments in foreign markets will find a Forex account essential. It enables them to take advantage of favourable exchange rates, manage currency risk, and diversify their investment portfolios
4. Students studying abroad
Students who study in a different country often need to manage their finances across different currencies. A Forex account can help them handle tuition fees, living expenses, and other costs in the currency of their host country, while also allowing them to convert funds as needed.
5. People sending money internationally
If you regularly send money to family or friends in other countries, a Forex account can make the process more efficient and cost-effective. It allows you to hold funds in different currencies and transfer them when the exchange rate is most favourable.
In short, a Forex account is useful for anyone who needs to manage or transact in multiple currencies, whether for personal, professional, or investment purposes. It offers the flexibility and convenience of holding foreign currencies and can help you save on conversion fees, make the most of exchange rates, and simplify international transactions.
Guess who loves his Forex facility? Discovery founder Adrian Gore!
The biggest fan of Discovery Bank's Forex feature is none other than Adrian Gore! The founder and CEO of the Discovery Group frequently travels for work, so the banking app feature he most appreciates is the Real-Time Forex Account. This makes transacting and managing foreign currencies fast and seamless at home and when travelling abroad. Watch this video to hear how he gets the most of this feature: