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If you are are a UK business that regularly sells into the eurozone as part of your business model, or occasionally receive an invoice euro, having a pool of funds in the relevant currency to trade with will not only allow you to avoid foreign exchange fees, it should also speed up the time it takes you to settle transactions. Across the UK there has been a steady increase in business customers opening euro accounts, with June 2017 seeing HSBC experience a 23% uptick in one month alone. The increase has in part been attributed to Brexit, as UK companies prepare for a future where they may have to trade domestically and in the EU in very different ways.
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