How to create an account with more than one currency?

There are accounts that have multiple balances, and you might be wondering how to create an account with more than one currency in Finplan.

In this article, we explain the best practice for managing this.

What is an account?

Before going further, let’s define what an account is and what a balance is.

In Finplan, any wallet with a balance — that is, an accumulation of financial resources with monetary value — is considered an account, regardless of the currency.

When does an account have more than one currency balance?

Digital accounts have made international financial movements more common with lower costs.

Now, at different banks, you might see balances in Reais, Dollars, Pesos, Euros, or any other currency.

In such cases, it’s normal to ask how to manage multiple balances of the same bank account in Finplan.

How to create in Finplan an account with more than one currency

It’s important to understand that accounts in Finplan don’t need to mirror exactly your real bank accounts.

Any set of financial value can be called an account. For example, your physical piggy bank or a digital financial reserve.

The same applies to international accounts. Here’s how to do it:

Step by step to create an account with multiple currencies

Instead of creating a single account, you can create two accounts, optionally from the same financial institution, but each with its respective currency.

1. Create your first account in the first currency;

   • Be sure to link it to the first currency — once chosen, that currency is irreversible;

   • Enter the actual balance you have without converting it.

2. Create your second account with the second currency;

   • Link it to the alternative currency that your bank provides;

   • Enter the current balance without converting to your local system currency.

Done! If you have a digital account with two balances, for example, R$ 1,000 in one and U$ 15.00 in another, you will now see both “accounts” available in Finplan and can record transfers (remittances) between them.

If you have questions about this process, contact Finplan support through the channels listed at the bottom of the article.