At Grey, we care about our remote workers, freelancers, content creators, and small businesses. We want them to seamlessly carry out international transactions such as sending and receiving money from anywhere with ease. 

Hence the introduction of virtual foreign accounts. You can now send and receive money from the United Kingdom, countries in Europe, and the United States directly to your Grey account.

Now that you know that, let us walk you through creating a virtual account in either United States Dollars (USD), Great Britain Pounds (GBP), or Euros (EUR) on Grey.

If you have already created a Grey account, you will need to log in to your dashboard or the Grey App, and perform the following:

1. On the side menu, click Balances
2. Click the currency tab for the currency you wish to create a virtual account for
3. Click the REQUEST VIRTUAL ACCOUNT button
4. Fill out the next page with your correct information and documents.

However, if you are new to Grey, the process is straightforward:

1. Sign up for a Grey account – this should only take a couple of minutes. We have written a guide to help you successfully create an account.
2. Complete your KYC – Know Your Customer (KYC) helps us verify your identity and protect your account.
3. Request a virtual account – On the side menu, click Balances, click the currency tab for the currency you wish to create a virtual account for, click the REQUEST VIRTUAL ACCOUNT button, and fill out the next page with your correct information and documents.
   

Please note that you will be required to upload a means of identification - this is to help process your account creation. Once your virtual account request is submitted, your account will be created within three days. Then, you will be able to send and receive money with your new USD, GBP, and Euro account.

Read more: What is Virtual Banking?

Advantages of Opening a Virtual Foreign Currency Account on Grey

Opening a virtual account on Grey comes with several benefits:

• Simple and Straightforward: We have ensured that the virtual account creation process is seamless. You don’t need to fill out endless forms to own a foreign account.
• On-the-go Access: A significant advantage of a virtual foreign account is setting it up from any of your devices (including your smartphone). There is no need to visit a physical location.
• 24-hour banking: Due to the digital nature of virtual accounts, you are not restricted by office hours to use certain services on your account.
• Cheaper Transfers: On Grey, we cut out unnecessary fees that traditional banks and money transfer agents charge, thus making your transactions more affordable.

You can start enjoying owning a virtual account right away and put the troubles of international money transfers behind you.

Open A Virtual Foreign Account Now