Foreign Currency Account
Pay and collect in a foreign currency
- Easily do business across Europe and beyond
- Pay and receive money in the same foreign currency
- Available in 24 currencies
Manage international payments effortlessly with an ABN AMRO Foreign Currency Account. Send and receive payments directly in the currency of your customers or suppliers. Ideal for globally active businesses that want to handle their transactions professionally.
Choose between 24 different foreign currencies
Easily open an account online in any of the 24 available currencies. Can't find the currency you need? Contact one of our consultants for advice
Also for Chinese Renminbi
A Renminbi account gives you direct access to the Chinese market. As not all Chinese companies are permitted to trade in US dollars, holding a Renminbi account unlocks additional opportunities when expanding in China. Open your account online and get started today.
The benefits of this account
Strong negotiating position
Exchange rate risks are not passed on to you, so you can offer your clients the most competitive prices.
Reduced transaction costs
By making transfers directly from your foreign currency account, you avoid additional exchange fees.
Move your money faster
Faster processing times of your money because you trade directly in the desired currency.
Easily exchange foreign currencies
With a Foreign Currency Account, you gain access to Currency Conversion. This allows you to exchange currencies at the current market rate and receive the money directly into your account. You can easily use Currency Conversion via Internet Banking Business.
Treasury Management
If you have a foreign currency account, you may face interest rate and currency risks due to fluctuating exchange rates and interest rates. With our currency management solutions, you can keep these risks under control.
Features Foreign Currency Account for Corporate Customers
Foreign Currency Account and conditions
The account is available if you already have an ABN AMRO business payment account and offers one central overview of all your foreign currency flows. This helps you stay in control of your international cash flow and avoid unnecessary currency conversions. Read more at the 'Pay and collect in a foreign currency' tab.
Conditions
Do you regularly receive and pay in four or more foreign currencies?
Then a Franx multi-currency account can be an attractive solution for you. This multi-currency account allows you to manage 33 currencies on one account (IBAN). Franx is a label of ABN AMRO.
Available foreign currencies
You can open an account online in one of these currencies:
- USD - American dollar
- GBP - British pound
- AED - Dubai dirham
- AUD - Australian dollar
- CAD - Canadian dollar
- CHF - Swiss franc
- CNY - Chinese renminbi
- CZK - Czech koruna
- DKK - Danish krone
- HKD - Hong Kong dollar
- HUF - Hungarian forint
- ILS - Israeli new shekel
- ISK - Icelandic krona
- JPY - Japanese yen
- MXN - Mexican peso
- NOK - Norwegian krone
- NZD - New Zealand dollar
- PLN - Polish zloty
- RON - Romanian leu
- SEK - Swedish krona
- SGD - Singapore dollar
- THB - Thai baht
- TRY - Turkish lira
- ZAR - South African rand
Do you regularly receive and pay in four or more different foreign currencies?
Then a Franx multi-currency account can be an attractive solution for you. This multi-currency account allows you to manage 33 currencies on one account (IBAN). Franx is a label of ABN AMRO.
Costs and interest
Costs
For more information on costs, go to our overview of the costs of our payments products. You will pay for these costs on a monthly basis. You will also be charged each month for the transactions you make.
- The costs will be taken from your business payment account.
- If you get your account statements by post, there will be a charge for postage costs.
Interest rates
- View current base interest rates. The credit and debit interest rates depend on the current rates of different currencies.
- If a currency's reference interest rate is negative, you will pay negative interest starting from December 31, 2021. For example, if the Foreign Currency Account rate is -0.25 percent, you will pay 0.25 percent on your credit balance. If the rate is 0 percent or higher, then the interest is set according to the Foreign Currency Account's terms and conditions.
- The interest is calculated on a daily basis. If you earn interest, we will add it to your account every three months.
- View the interest rates for the past 8 years here (PDF, 277 KB)
Risks
Holding balances in foreign currency can be risky, because the equivalent value in euros depends on the exchange rate. Also, the interest rate on a Foreign Currency Account can vary on a monthly basis. Fluctuations in the exchange rate can ultimately affect your results.
We offer currency management solutions to protect your business against adverse exchange rate changes. If you want to learn more: currency management solutions.
Pay and collect in a foreign currency
You pay in foreign currency with a wire transfer through Internet Banking. This is also how you receive the money. Cash money withdrawals or deposits are not possible. Incoming and outgoing payments are always in the currency of the account.
Incoming payments in euros
If someone transfers euros to your Foreign Currency Account, you can only receive this payment if you also have an ABN AMRO payment account under the same company name. This is because the euro payment must be transferred immediately as an
Instant Payment
to a counter account. Without an ABN AMRO business account, the payment will be rejected.Chinese Yuan information
The Chinese Yuan exists in two forms. Here's how they impact your transactions.
CNY (onshore Yuan) and CNH (offshore Yuan)
- CNY (onshore Yuan): This is China's official currency, mainly used for transactions within mainland China. The People's Bank of China (PBOC) sets a daily reference rate to regulate its value.
- CNH (offshore Yuan): This version of the Yuan is traded outside China. At ABN AMRO, we use CNH market interest rates as the benchmark for currency accounts.
We can help you with opening accounts in CNY, meaning your transactions will be processed in this currency. The interest rate for these accounts is based on CNH market rates, as we receive information exclusively reflecting CNH rates.
Deposit Guarantee Scheme
The balances held on this account are covered by the Deposit Guarantee Scheme. Under this scheme, deposits of up to €100,000 per account holder are guaranteed. Further information on the applicable deposit guarantee schemes and the scope of their coverage can be found on:
Foreign Currency Account and conditions
The account is available if you already have an ABN AMRO business payment account and offers one central overview of all your foreign currency flows. This helps you stay in control of your international cash flow and avoid unnecessary currency conversions. Read more at the 'Pay and collect in a foreign currency' tab.
Conditions
Do you regularly receive and pay in four or more foreign currencies?
Then a Franx multi-currency account can be an attractive solution for you. This multi-currency account allows you to manage 33 currencies on one account (IBAN). Franx is a label of ABN AMRO.
Available foreign currencies
You can open an account online in one of these currencies:
- USD - American dollar
- GBP - British pound
- AED - Dubai dirham
- AUD - Australian dollar
- CAD - Canadian dollar
- CHF - Swiss franc
- CNY - Chinese renminbi
- CZK - Czech koruna
- DKK - Danish krone
- HKD - Hong Kong dollar
- HUF - Hungarian forint
- ILS - Israeli new shekel
- ISK - Icelandic krona
- JPY - Japanese yen
- MXN - Mexican peso
- NOK - Norwegian krone
- NZD - New Zealand dollar
- PLN - Polish zloty
- RON - Romanian leu
- SEK - Swedish krona
- SGD - Singapore dollar
- THB - Thai baht
- TRY - Turkish lira
- ZAR - South African rand
Do you regularly receive and pay in four or more different foreign currencies?
Then a Franx multi-currency account can be an attractive solution for you. This multi-currency account allows you to manage 33 currencies on one account (IBAN). Franx is a label of ABN AMRO.
Costs and interest
Costs
For more information on costs, go to our overview of the costs of our payments products. You will pay for these costs on a monthly basis. You will also be charged each month for the transactions you make.
- The costs will be taken from your business payment account.
- If you get your account statements by post, there will be a charge for postage costs.
Interest rates
- View current base interest rates. The credit and debit interest rates depend on the current rates of different currencies.
- If a currency's reference interest rate is negative, you will pay negative interest starting from December 31, 2021. For example, if the Foreign Currency Account rate is -0.25 percent, you will pay 0.25 percent on your credit balance. If the rate is 0 percent or higher, then the interest is set according to the Foreign Currency Account's terms and conditions.
- The interest is calculated on a daily basis. If you earn interest, we will add it to your account every three months.
- View the interest rates for the past 8 years here (PDF, 277 KB)
Risks
Holding balances in foreign currency can be risky, because the equivalent value in euros depends on the exchange rate. Also, the interest rate on a Foreign Currency Account can vary on a monthly basis. Fluctuations in the exchange rate can ultimately affect your results.
We offer currency management solutions to protect your business against adverse exchange rate changes. If you want to learn more: currency management solutions.
Pay and collect in a foreign currency
You pay in foreign currency with a wire transfer through Internet Banking. This is also how you receive the money. Cash money withdrawals or deposits are not possible. Incoming and outgoing payments are always in the currency of the account.
Incoming payments in euros
If someone transfers euros to your Foreign Currency Account, you can only receive this payment if you also have an ABN AMRO payment account under the same company name. This is because the euro payment must be transferred immediately as an
Instant Payment
to a counter account. Without an ABN AMRO business account, the payment will be rejected.Chinese Yuan information
The Chinese Yuan exists in two forms. Here's how they impact your transactions.
CNY (onshore Yuan) and CNH (offshore Yuan)
- CNY (onshore Yuan): This is China's official currency, mainly used for transactions within mainland China. The People's Bank of China (PBOC) sets a daily reference rate to regulate its value.
- CNH (offshore Yuan): This version of the Yuan is traded outside China. At ABN AMRO, we use CNH market interest rates as the benchmark for currency accounts.
We can help you with opening accounts in CNY, meaning your transactions will be processed in this currency. The interest rate for these accounts is based on CNH market rates, as we receive information exclusively reflecting CNH rates.
Deposit Guarantee Scheme
The balances held on this account are covered by the Deposit Guarantee Scheme. Under this scheme, deposits of up to €100,000 per account holder are guaranteed. Further information on the applicable deposit guarantee schemes and the scope of their coverage can be found on:
