U.S. Bank suite to help firms manage cash amid global volatility

With FDIC-insured foreign currency accounts and consolidated cash management tools, U.S.-based businesses can simplify global operations and reduce risk

MINNEAPOLIS – As U.S.-based firms – particularly mid-sized ones – face increasing overseas business and banking risks, U.S. Bank has brought together a suite of proven solutions to help businesses gain greater control of their funds. U.S. Bank global liquidity solutions enable businesses to manage global cash positions more securely and efficiently from within the United States.

The suite includes Foreign Currency Accounts (FCAs), which allow businesses to hold funds in up to 23 foreign currencies—such as EUR, GBP, JPY and AUD—while keeping those balances in the United States in FDIC-insured accounts. This enables companies to more easily manage payments to and from suppliers and customers, minimize currency conversions and manage foreign exchange risk more effectively.

“Clients are looking for ways to de-risk their global operations,” said Tarek El-Yafi, head of U.S. Bank Global Transaction Services. “Our ability to offer foreign currency accounts in the U.S.—without requiring in-country onboarding—is rare in the market and welcomed by clients.” 

In addition to FCAs, the suite includes:

• Multi-bank reporting dashboard for consolidated visibility across all global banking accounts
• Foreign currency time deposits for interest-earning options on excess foreign cash
• Accept payments in EUR and GBP, enabling local-like transactions credited to U.S.-based accounts

These solutions are particularly valuable for U.S.-based companies with cross-border payments that want to avoid the complexity and risk of maintaining accounts in foreign jurisdictions. By centralizing their liquidity in the U.S., businesses can respond more nimbly to market shifts, reduce FX costs and maintain operational continuity.

“In the past, many U.S.-based firms—especially midsize ones—didn’t take advantage of these capabilities because they didn’t seem accessible or manageable,” said Alberto Casas, head of product for U.S. Bank Treasury & Payment Solutions. “U.S. Bank global liquidity solutions is a simple suite that can be tailored to each company’s needs. There is a lot of interest in gaining better control over global cash without opening accounts overseas. We’re confident this can help simplify their banking structure, protect their foreign currency holdings and optimize working capital.”

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Contact:

Todd Deutsch, U.S. Bank Public Affairs and Communications

todd.deutsch@usbank.com

About U.S. Bank

U.S. Bancorp, with approximately 70,000 employees and $686 billion in assets as of June 30, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2025 World’s Most Ethical Companies and one of Fortune’s most admired superregional banks. Learn more at usbank.com/about.