Players pay in their own currency. Affiliates invoice in EUR or USD. Suppliers bill in GBP. Regulators want fees in something else again. Left alone, that becomes a dozen accounts at several banks and a lot of guesswork at month end.
Here is a structure that stays simple as you grow.
Start from what you pay out
List every currency you send money in during a normal month: player withdrawals, affiliate payouts, supplier invoices, payroll, licence fees.
Each of those currencies gets its own operating account with its own IBAN. Xace accounts cover 28+ currencies across the UK and Europe, so the usual EUR, GBP, USD and Nordic and Central European currencies are all available with local details.
Money that comes in follows the same rule. If a PSP settles in EUR, it lands in the EUR account. No conversion, nothing to reconcile.
Keep licences and entities apart
Regulators expect player funds and operating funds to be separate, and entities with different licences to be separate too. An MGA entity and a UKGC entity should never share a balance.
So each entity gets its own set of currency accounts. Where a licence needs it, add segregated player-fund accounts with sensitivity rules that limit who can see and move them.
Give inbound flows their own IBANs
Where you can, give each big inbound source its own IBAN: PSP settlements, marketplace payouts, intercompany receipts. Separate IBANs reconcile themselves. One shared account means matching by hand.
Run treasury from one hub account
Hold one hub account, usually EUR or GBP. Operating accounts sweep surplus into it and draw shortfalls from it. Run FX, hold buffers and make intercompany transfers from here. Everything else stays lean.
Decide when to convert
Write this down before you go live. Most operators pick one of three:
- Hold in currency. Pay out from the currency that came in. Best when inbound and outbound roughly match.
- Convert on receipt. Everything goes to the hub currency as it lands. Simple, but every foreign payout is a fresh conversion.
- Threshold-based. Keep a target balance per currency. Convert the excess above a ceiling, top up below a floor. Most multi-market operators end up here.
Xace supports automated, manual and threshold-based conversion. Whichever you pick, put FX trades above a set amount behind an approval.
Setting it up
- Map entities, licences and payout currencies on one page.
- Open accounts per entity and per currency. Name them consistently, for example
MT-EUR-OPS. - Give each user the role they need in each entity.
- Add approval policies for payments, payee changes and FX.
- Ask Xace to switch on account-to-account FX and batch payments where you need them.
- Connect your accounting system so each account maps to the right ledger.
Do this once and adding a market later means a new currency account and a policy update, not a new bank.
