iFAST Global Bank has announced the launch of its Commercial Banking Suite, a digital banking solution designed to support small and medium-sized food and beverage businesses managing international transactions and cross-border supply chains.
The licensed UK bank, authorised by the Prudential Regulation Authority (PRA) and regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), shared that the suite was developed to address operational and financial challenges commonly faced by food manufacturers, distributors and retailers operating across international supply chains.
Food and beverage SMEs increasingly rely on overseas suppliers, international logistics partners and export markets, often requiring payments and collections in multiple currencies. Traditional banking arrangements can involve maintaining separate currency accounts, automatic foreign exchange conversions and limited visibility over currency management, creating administrative complexity and cost uncertainty.
The Commercial Banking Suite introduces a multi-currency business current account enabling businesses to manage nine major currencies: GBP, USD, EUR, HKD, SGD, CNY, JPY, AED and CHF, under a single account number.
iFAST Global Bank has partnered with Standard Chartered Bank to expand international payment options. Money can now be sent from nine major currencies to recipients in 52 currencies worldwide, enabling payments to global suppliers in their local currency.
Eligible deposits of up to £120,000 are protected by the Financial Services Compensation Scheme (FSCS).
Interest-bearing current accounts are available within the suite, offering variable interest rates of up to 2.40% AER on GBP balances. iFAST Global Bank offers up to 3.75% AER on fixed-term GBP deposits and just over 3% AER on certain notice deposit accounts.
A Visa Business Debit Card, available only to UK-registered entities, enables payments across more than 200 countries and territories with real-time foreign exchange conversion capabilities, supporting international purchasing and operational expenses.
The Bank stated the solution aims to provide food and beverage SMEs with greater flexibility when paying overseas suppliers, receiving export revenues and managing working capital across different markets without maintaining multiple banking relationships.
According to the Bank, demand for cross-border banking solutions has grown alongside increasing international trade participation among UK food and beverage SMEs, many of which are expanding sourcing networks and export channels while seeking greater control over foreign currency exposure.
As a licensed UK bank, iFAST Global Bank operates its own payment infrastructure and is a direct participant in major payment networks including the Bank of England Faster Payment Scheme, CHAPS and SWIFT, enabling businesses to move funds domestically and internationally through established financial rails.
Inayat Kashif, CEO of iFAST Global Bank, said: “We believe that every business starts small, and we are committed to providing the same consistent relationship management and service to all businesses regardless of their size.”
The announcement follows recent industry recognition for the Bank’s digital banking services. iFAST Global Bank was named Highly Commended App-Only Savings Provider of the Year 2025 and
