Earn more from your webshop: Local multi-currency accounts offer faster payments and lower fees

More Danish companies than ever are selling their products online – but many lose money on currency exchange and fees from major e-commerce platforms like Shopify and Amazon when receiving payments from customers abroad.

According to the latest figures from the Confederation of Danish Industry, 39% of Danish companies sell their products online – typically through their webshop or an e-commerce platform. This opens the door to new markets but also brings challenges: payments in foreign currencies, long payout times, and high exchange costs.

The problem with currency and e-commerce platforms

When businesses sell through platforms like Amazon or Shopify, they often receive payments in euros, dollars, or pounds – which brings several challenges:

• It can take several days to deposit the money into the company's account.

• Revenue in foreign currency can lose value if the exchange rate moves unfavorably against the Danish krone.

• Banks and payment providers often charge high fees for currency exchange and international transfers, which reduces the company’s actual profit.

“We see many businesses unknowingly lose 2–3% of their revenue simply because their FX setup is inefficient,” says Andreas Rasmussen, FX Advisor at kompasbank. “This makes it harder to grow and maintain a clear overview of their liquidity.”

The way forward: Exchange foreign currency on your terms

kompasbank has launched a solution that helps e-commerce businesses trade currencies more smartly and transparently. With multi-currency accounts in 29+ countries and access to competitive exchange rates, companies can receive payments directly in the customer’s currency – and exchange foreign currency when it suits them.

“We give companies control over their currency trading – instead of leaving them at the mercy of the platforms’ standard solutions. This means faster payments, lower fees, and a stronger bottom line,” says Andreas Rasmussen.

Benefits of kompasbank’s FX Platform

• Trade currency at favorable exchange rates

• No hidden conversion fees

• Direct integration with your e-commerce platform (Amazon, Shopify, and more)

• Improved liquidity – avoid payment delays and gain faster access to your money

• Complete transparency in currency exchange

Over 60,000 companies can benefit from smarter FX trading

With nearly 63,000 Danish businesses selling online, the need for more flexible and transparent solutions for currency trading and cross-border payments is greater than ever.

“It’s not just about avoiding fees – it’s about gaining better control over liquidity, creating competitive advantages, and being able to scale the business,” says Andreas Rasmussen.

Do you want to exchange foreign currency smarter and improve your company's liquidity? Get a free introduction to our platform.