Multicurrency accounts are often cheaper to use over the long term than paying for each foreign transaction separately via your bank; this is one of their big benefits. The exact cost will vary, however, based on the account type and provider you choose, as well as how you use the account. To understand how much each option will cost you, consider how often you are likely to perform each type of transaction (withdrawals, payments, transfers, etc.), and their size, and then look at the fees each provider charges. Also take a look at the margin they use for forex transactions. Many providers only charge fees on a per transaction basis, but some have monthly fees, overdraft fees, conversion fees, and so on. Do your research to find the most competitive solution for you.