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WorldFirst World Account for online sellers

Tim Falk

Last updated: Sep 9, 2019

Receive payments in 10 foreign currencies and take advantage of no ongoing fees.

Good for a transparent pricing structure and receiving money to the ten locally-based currency accounts.

Sign-up process takes a while.

See our full list of pros and cons below.

NZD 2,000

Min. Transfer Amount

No limit

Max. Transfer Amount

2 days

Transfer Speed

Product Name	WorldFirst International Money Transfers for Online Sellers
Min. Transfer Amount	NZD 2,000
Max. Transfer Amount	No limit
Transfer Methods	Online, Phone, Agent
Transfer Options	One off payments, Market orders, Forward contracts
Transfer Speed Minimum transfer time	2 days
Customer Service	Phone, Email
Available Currencies	AED, ALL, AMD, ANG, AOA, ARS, AUD, AZN, BAM, BBD, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KHR, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MGA, MKD, MNT, MRO, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, UYU, VEF, VND, VUV, WST, XCD, XOF, XPF, ZAR, ZMW

Online Transfer Fee	NZD 0
Exchange Rate Updates	Daily

Go to WorldFirst 's site More info

Tim Falk

Tim Falk is a freelance writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors.

What's in this guide?

How does the WorldFirst World Account work?
Why use WorldFirst instead of PayPal?
What are the WorldFirst World Account's fees?
How do I set up a WorldFirst World Account for my ecommerce store?
In a nutshell
How does the WorldFirst World Account compare to other online seller services?

How does the WorldFirst World Account work?

The World Account is a multi-currency account designed for businesses and online sellers. It allows you to receive online marketplace payments in 10 different currencies and manage all your balances from one dashboard.

You can receive funds in the following 10 currencies:

NZD New Zealand dollar
AUD Australian dollar
GBP British pound

USD US dollar
EUR Euro
CAD Canadian dollar

SGD Singapore dollar
JPY Japanese yen

HKD Hong Kong dollar
CNH Chinese yuan

This means you can receive payments from ecommerce marketplaces in New Zealand, Australia, Europe, the United States, Canada, Singapore, Japan, China and the United Kingdom. You can link your World Account to a wide range of online marketplaces and platforms, including the following:

Amazon
eBay

Rakuten
Newegg

Lazada
Cdiscount

Shopify

You can also pay international suppliers in their local currency, and hold your funds in a foreign currency until you’re ready to convert them back to New Zealand dollars. The account can be managed through WorldFirst’s online platform or the WorldFirst mobile app.

Read our review of WorldFirst for international money transfers

Why use WorldFirst instead of PayPal?

PayPal is a popular option for online sellers looking to manage their online payments. However, there are a few costs you’ll need to be aware of:

Payment fees. A fee applies when you receive payment for selling an item. This fee is 3.4% + a fixed fee for payments from within New Zealand and 3.4% + NZD$6.99 + a fixed fee for international payments.
Currency conversion fees. If you’re paid in a foreign currency and you want to convert those funds into New Zealand dollars so you can withdraw them to your bank account, PayPal adds a 2.5% margin on top of its base exchange rate before converting your money to NZD.
Disappointing exchange rates. If you want to send an international payment from your PayPal account, you’ll find that PayPal’s exchange rates often don’t match those offered by some specialist transfer companies.

By comparison, WorldFirst doesn’t charge any ongoing fees, any fees for receiving payment in your World Account or any cross-currency transaction fees. And with a foreign exchange margin of between 0.15% and 0.50% based on the amount you transfer each year, using a World Account instead of PayPal could potentially offer big savings for your business.

What are the WorldFirst World Account’s fees?

WorldFirst does not charge any of the following fees:

Account opening fees
Account management fees
Cross-currency transaction fees
Fees for receiving payments

However, when exchanging currency using your World Account, such as if you’re repatriating sales revenue to New Zealand dollars, you’ll need to consider WorldFirst’s margin. This is the difference between the rate at which WorldFirst buys currency (the mid-market rate), and the rate it uses when it sells currency to you. The margin that applies to your account varies depending on the amount you transfer each year:

Annual transfer amount	$0 – $750,000	$750,000 – $7.5 million	$7.5 million +
Margin	0.50%	0.25%	0.15%

Calculate how much your payments will cost with a World Account using the calculator below.

I want to send

	Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
	NZD 2,000	2 days	NZD 0.00	0.707	USD 3,534	Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees, including same-currency supplier payments.	Go to site	Compare	Show details	Details Minimum transfer amount NZD 2,000.00 Transfer methods Online, Phone, Agent Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, AZN, BAM, BBD, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KHR, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MGA, MKD, MNT, MRO, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, UYU, VEF, VND, VUV, WST, XCD, XOF, XPF, ZAR, ZMW Go to site Read the full review

Compare up to 4 providers

How do I set up a WorldFirst World Account for my ecommerce store?

You can open a World Account by completing a few simple steps.

In a nutshell

Pros

10 locally-based currency accounts. The World Account lets you receive online marketplace payments in 10 different currencies.
Competitive exchange rates. WorldFirst’s exchange rate margin varies depending on the amount you transfer, but at 0.15-0.50%, it’s very competitive.
Transparent pricing structure. WorldFirst is upfront about all the costs and charges that apply to your account, and there are no ongoing fees or fees for receiving funds.
Customer support. WorldFirst offers phone and email customer support as well as an online sellers hub with plenty of useful tools and resources to help you grow your business.

Cons

Sign-up process. You’ll need to wait for a WorldFirst representative to contact you before your account can be opened.

How does the WorldFirst World Account compare to other online seller services?

To find out how the World Account compares to other marketplace selling accounts, check out the table below.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
GBP 5,000	1 - 2 days	NZD 0.00	0.71	USD 7,104	CurrencyTransfer is an online marketplace that lets you shop around for the best exchange rate. Use it to take your ecommerce business to the next level.	Go to site	Compare	Show details	Details Minimum transfer amount GBP 5,000.00 Transfer methods Online, Bank Account to Bank Account, International Money Order Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
AUD 250	1 - 2 days	NZD 15.00	0.711	USD 7,101	Receive local bank account details for 6 currencies. Free account signup with 24/7 support.	Go to site	Compare	Show details	Details Minimum transfer amount AUD 250.00 Transfer methods Online, Phone, Agent Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone Available currencies AED, ARS, AUD, AZN, BGN, BHD, BND, BRL, CAD, CHF, CLP, CNY, CZK, DKK, EGP, EUR, FJD, GBP, HKD, HUF, IDR, ILS, INR, JPY, KRW, KWD, LKR, MAD, MGA, MXN, MYR, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, RUB, SAR, SBD, SCR, SEK, SGD, THB, TOP, TRY, TWD, TZS, USD, VEF, VND, VUV, WST, XOF, XPF, ZAR, CHW Go to site Read the full review
NZD 1	1 - 2 days	NZD 80.00	0.714	USD 7,083	Send or receive money with the real exchange rate and a multi-currency account. You can also get local bank account details in the UK, US, Europe, Canada and Australia.	Go to site	Compare	Show details	Details Minimum transfer amount NZD 1.00 Transfer methods Online Transfer options One off payments Customer service Phone, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
NZD 2,000	2 days	NZD 0.00	0.711	USD 7,111	Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees, including same-currency supplier payments.	Go to site	Compare	Show details	Details Minimum transfer amount NZD 2,000.00 Transfer methods Online, Phone, Agent Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, ALL, AMD, ANG, AOA, ARS, AUD, AZN, BAM, BBD, BGN, BHD, BIF, BMD, BND, BOB, BRL, BSD, BWP, BZD, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DJF, DKK, DOP, DZD, EGP, ERN, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, GYD, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, IQD, ISK, JMD, JOD, JPY, KES, KHR, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MGA, MKD, MNT, MRO, MUR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SLL, SRD, STD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, UYU, VEF, VND, VUV, WST, XCD, XOF, XPF, ZAR, ZMW Go to site Read the full review

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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WorldFirst World Account for online sellers