Gemba · FCA FRN 804853  ·  Independent editorial · Introducer Partner
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For UK Accounting Practices

When your client asks for a multi-currency account and you don't have an answer.

Accounting practices are natural guides to financial infrastructure. Gemba gives you a credible answer for clients with EU trade, international payroll, or cross-border supplier payments — without you becoming a regulated financial adviser.

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16
currencies per account
∞
virtual IBANs per entity
Xero
bank feed via Open Banking
0.70%
FX spread over mid-rate
§ 01 — Common scenarios

Four situations we see with accounting practice clients

Scenario A
Client with EU suppliers or customers
Your client is paying EUR invoices through a GBP account and losing 2–3% on every conversion. A Gemba account with a dedicated EUR IBAN means they hold EUR when they receive it and convert only when they need GBP. FX at 0.70% versus 2–3% high-street rates. You look like the person who saved them money.
Scenario B
Client with overseas contractors
Client is using Wise or PayPal to pay contractors in Poland, Germany, US. Reconciliation is a mess: three platforms, three fee structures, three expense categories. One Gemba account covers SEPA (EU) and SWIFT (global) from one dashboard, with Xero bank feed. One monthly reconciliation instead of three.
Scenario C
Client expanding to a new market
Client is setting up in Germany or Ireland and needs a local-looking EUR account before they're ready to open a local bank account. Gemba's GB-prefix EUR IBAN is SEPA-eligible — local payers can transfer as if it's a domestic account. Ready in 3–5 days versus weeks for a local bank application.
Scenario D
Managing multiple client entities
Your practice holds client funds or coordinates payments across several entities. Virtual IBANs give each entity or client a unique receiving account identifier — all routing through to your master account. Clean separation for audit purposes. Webhook data drives automated reconciliation so you're not manually matching payments to entities.

Practices that submit payment files for clients rather than only for themselves are in bureau territory, which carries its own requirements: a sponsored Service User Number, Pay.UK approval, an inspection cycle, and Bacs approved software with bureau capability. Submitting for a separate legal entity makes approval mandatory — worth knowing which side of that line you are on before you take on client payment runs.

§ 02 — Integration detail

How Gemba connects with accounting software

Integration Method Detail
Xero bank feed
 ✓ Open Banking Connect Gemba to Xero via Open Banking. Transactions feed daily with merchant name, amount, reference. Reconcile in Xero against invoices and bills. Supports multi-currency — each wallet appears as a separate bank account in Xero.
QuickBooks bank feed
 ✓ Open Banking Same Open Banking integration. Connect once per currency wallet. Transaction feed with categorisation data.
Sage bank feed
 ✓ Open Banking Open Banking compatible. Sage versions from Sage 50 Accounts (bank import) to Sage Accounting (direct feed).
FX rates in reporting
 Export / API Each conversion transaction in Gemba includes the rate applied, which flows through to Xero as the functional currency amount. Reduces manual rate-of-the-day lookups at month-end.
Bulk payment upload
 CSV Upload payment batches by CSV — useful for practice-prepared payable runs. Reduce data entry time for high-volume supplier payment weeks.
Webhook / API
 REST API For practices building custom reconciliation tools or integrating into a practice management system. Full API documentation available from Gemba on request.

Ready to offer clients a better banking answer?

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Useful for practices

Converting foreign-currency invoices for a VAT return needs the official HMRC monthly rates (with every month back to 2021 in the rate archive), and you can validate a client's beneficiary details with the IBAN checker. For clients holding several currencies, the multi-currency account guide is the best starting point, and integrating a payment API covers connecting payments to practice software. If you advise clients on credit risk, our analysis of UK payment practices data shows what large customers actually file about how they pay.