Currency Conversion

ABN AMRO gives you an estimated buying and selling rate based on the details you provide, like the currency pair and the amount. With this information, you can ask for a price you can trade at. We will keep this exchange rate for you for a few seconds. Once you accept the rate, the Currency Conversion transaction is finished, and the amounts will be added and subtracted from your accounts.

ABN AMRO adds a margin, which can be an extra charge or a discount on the buying and selling price of the currency. This margin is a percentage added or subtracted from the interbank rate, which is the exchange rate banks use with each other. When setting the extra charge or discount, we also consider the price risk based on current market conditions and the direct and indirect costs of that risk.

The maximum amount you can convert per Currency Conversion transaction is €5,000,000 or, for a Currency Conversion transaction between two foreign currencies, an amount equal to €5,000,000.

The Currency Conversion transaction always happens on the same day (value date today), and the transfer will show up in your credit and debit statements right away. However, if it's not a trading day for the chosen currency pair, like on a bank holiday, it may not appear immediately.

You can carry out Currency Conversion transactions online 5 days a week, 24 hours a day.

No, Currency Conversion is only available through Internet Banking Business.

All business clients with a Foreign Currency Account, who are authorized to make payments from it, can do Currency Conversion transactions. Business clients who can only view the Foreign Currency Account cannot perform Currency Conversion transactions. 

• How to give an employee access to Internet Banking Business
• How to manage employee permissions in Internet Banking Business

If you cannot see a specific Foreign Currency Account, it means you are not authorized to perform transactions for that account. The account holder or a general authorized member of your company can give you the right access through  Internet Banking Business.

• You do not pay international transfer fees when you convert money via Currency Conversion.
• With Currency Conversion you convert at the current exchange rate, whereas with an international transfer you exchange against the day rate.

Yes, you can carry out Currency Conversion transactions for money moving between different entities as long as the accounts are registered within the same group and you are authorized to carry out transactions from these entities.

If you have any questions please feel free to contact us.