Foreign currency accounts
Q. Can I open an account in a foreign currency?
A. Customers who have had an operational current account for 6 months are able to apply for an account held in a foreign currency, this is especially useful for customers who spend a large amount of their time abroad and who are paid in the currency of the country they are in.
Q. What currencies can the account be opened in?
A. We can open a currency account in the following currencies:
AUD Australian Dollars
CAD Canadian Dollars
CHF Swiss Francs
DKK Danish Krone
EUR Euros
HKD Hong Kong Dollars
JPY Japanese Yen
NOK Norwegian Krone
NZD New Zealand Dollars
SEK Swedish Krone
SGD Singapore Dollars
USD US Dollars
ZAR South African Rand
Q. Are there different types of currency accounts?
A. There are two types of currency account, deposit and current.
Q. What facilities are available on currency account?
Current account:
- Can make foreign transfers
- Drafts can be issued
- Cheques and foreign transfers can be paid into the account
- Can transfer between currency and Sterling accounts (rate can be booked for the transfer)
- Statements are issued monthly, but frequency can be changed upon request
- Cheque book available on request
- No credit interest is paid
Deposit account:
- Can make foreign transfers
- Drafts can be issued
- Cheques and foreign transfers can be paid into the account
- Can transfer between currency and Sterling accounts (rate can be booked for the transfer)
- Statements are issued monthly, but frequency can be changed upon request
- Cheque book not available
- Credit interest is paid in most currencies
Q. What charges are there for currency accounts?
- Maintenance = £20 per 1/2 year (April - October)
- No Fee for Euro Deposit account only
- Transfers between currency accounts and sterling accounts = £6
- International services (for example foreign transfers and cheques) are charged as per the standard tariff
