Open a Foreign Currency Account

Foreign Currency Account

Making and receiving payments in foreign currency

Foreign payments in the same currency

  • Paying and receiving money in the same currency
  • Choice of many currencies
  • Open a Foreign Currency Account with the same name alongside a Euro current account
  • An appointment to open a Foreign Currency Account takes approximately 60 minutes

The Foreign Currency Account is a bank account on which you can hold an amount in one other currency and receive or transfer foreign currency. You decide when to convert your foreign currency back into euros.

Foreign Currency Account for private clients

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Assortment of 23 foreign currencies

Foreign currency transactions are made through your Euro bank account. If you regularly make transactions in a foreign currency, a Foreign Currency Account may be an interesting option for you. You can choose between 23 currencies. Please contact us to open a Foreign Currency Account.

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Interest rate- and currency risk

A Foreign Currency Account exposes you to interest rate- and currency risk. The equivalent value in euros depends on the exchange rate. The interest rate on a Foreign Currency Account may also vary each month or day (depending on the currency).

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Changes with effect from 31 December 2021

With effect from 31 December 2021 we will charge negative interest on amounts held in certain foreign currencies. We will charge negative interest on balances in a foreign currency with a negative reference rate. You will pay this interest on your entire positive balance.

The currencies to which this currently applies are the Swiss franc, Danish krone, Swedish krona and Japanese yen. If the reference rate for any other foreign currency becomes negative, we will charge negative interest on balances in that currency as well. Reference rates are set daily or monthly. You can find the current interest rates at current base rates .

If you want to close your foreign currency account, we are of course sorry to hear that, but we will be happy to help you make the necessary arrangements. Find out how to close your account.

Features

What is a Foreign Currency Account?

A Foreign Currency Account is a bank account in a single foreign currency. You can make and receive payments in this currency type.

Terms and Conditions

All product conditions are available at abnamro.nl/voorwaarden (in Dutch).

Who is it for?

Private clients who often make and receive payments in a foreign currency.

Fees and charges

View the fees and charges for the Foreign Currency Account.

Risk

A Foreign Currency Account exposes you to interest rate- and currency risk. The equivalent value in euros depends on the exchange rate. The interest rate on a Foreign Currency Account may also vary each month or day (depending on the currency).

What currencies?

You can open an account for the following currencies:

  • AED - UAE Dirham
  • AUD - Australian Dollar
  • BHD - Bahraini Dinar
  • CAD - Canadian Dollar
  • CHF - Swiss Franc
  • CZK - Czech Koruna 
  • DKK - Danish Krone
  • GBP - British Pound
  • HKD - Hong Kong Dollar
  • HUF - Hungarian Forint
  • ILS - Israeli Shekel
  • INR - Indian Rupee
  • JPY - Japanese Yen 
  • NOK - Norwegian Krone
  • NZD - New Zealand Dollar
  • PLN - Polish Zloty
  • SAR - Saudi Arabian Riyal
  • SEK - Swedish Krona
  • SGD - Singapore Dollar
  • THB - Thai Baht
  • TRY - Turkish Lira
  • USD - US Dollar
  • ZAR - South African Rand
Balance amount

A minimum balance applies for each currency. 

For the following currencies, a minimum balance of €12,500 applies:

  • AUD
  • CAD
  • CHF
  • CZK
  • DKK
  • GBP
  • HKD
  • HUF
  • JPY
  • NOK
  • NZD
  • PLN
  • SEK
  • SGD
  • USD
  • ZAR

For the following currencies, a minimum balance of €50,000 applies:

  • AED
  • BHD
  • ILS
  • INR
  • SAR
  • THB
  • TRY
Interest

View the current base rates rates here. The credit and debit interest rates are based on these.

 The interest rate for some currencies is linked to a base rate. Base rates can be negative, in which case you may have to pay interest on your balance in that currency instead of receiving interest.

 The interest is calculated daily. If there is interest, we settle it on your account at the end of each quarter.

 View the  interest rates  from the past seven years.

Making and receiving payments in foreign currency
  • You pay in foreign currency with a transfer through Internet Banking. That is also how you receive foreign currency payments. You cannot withdraw or deposit cash.
  • Incoming and outgoing payments are always in the currency of the account.
Dutch Deposit Guarantee

Deposits in this account fall under the Dutch Deposit Guarantee Scheme. This means that deposits up to €100,000 per account holder are guaranteed. More information on the Dutch Deposit Guarantee Scheme and cover is provided on the information sheet.

Questions or looking for advice?

Want to know more about the Foreign Currency Account? Then please contact an advisor.

Features

What is a Foreign Currency Account?

A Foreign Currency Account is a bank account in a single foreign currency. You can make and receive payments in this currency type.

Terms and Conditions

All product conditions are available at abnamro.nl/voorwaarden (in Dutch).

Who is it for?

Private clients who often make and receive payments in a foreign currency.

Fees and charges

View the fees and charges for the Foreign Currency Account.

Risk

A Foreign Currency Account exposes you to interest rate- and currency risk. The equivalent value in euros depends on the exchange rate. The interest rate on a Foreign Currency Account may also vary each month or day (depending on the currency).

What currencies?

You can open an account for the following currencies:

  • AED - UAE Dirham
  • AUD - Australian Dollar
  • BHD - Bahraini Dinar
  • CAD - Canadian Dollar
  • CHF - Swiss Franc
  • CZK - Czech Koruna 
  • DKK - Danish Krone
  • GBP - British Pound
  • HKD - Hong Kong Dollar
  • HUF - Hungarian Forint
  • ILS - Israeli Shekel
  • INR - Indian Rupee
  • JPY - Japanese Yen 
  • NOK - Norwegian Krone
  • NZD - New Zealand Dollar
  • PLN - Polish Zloty
  • SAR - Saudi Arabian Riyal
  • SEK - Swedish Krona
  • SGD - Singapore Dollar
  • THB - Thai Baht
  • TRY - Turkish Lira
  • USD - US Dollar
  • ZAR - South African Rand

Balance amount

A minimum balance applies for each currency. 

For the following currencies, a minimum balance of €12,500 applies:

  • AUD
  • CAD
  • CHF
  • CZK
  • DKK
  • GBP
  • HKD
  • HUF
  • JPY
  • NOK
  • NZD
  • PLN
  • SEK
  • SGD
  • USD
  • ZAR

For the following currencies, a minimum balance of €50,000 applies:

  • AED
  • BHD
  • ILS
  • INR
  • SAR
  • THB
  • TRY

Interest

View the current base rates rates here. The credit and debit interest rates are based on these.

 The interest rate for some currencies is linked to a base rate. Base rates can be negative, in which case you may have to pay interest on your balance in that currency instead of receiving interest.

 The interest is calculated daily. If there is interest, we settle it on your account at the end of each quarter.

 View the  interest rates  from the past seven years.

Making and receiving payments in foreign currency

  • You pay in foreign currency with a transfer through Internet Banking. That is also how you receive foreign currency payments. You cannot withdraw or deposit cash.
  • Incoming and outgoing payments are always in the currency of the account.

Dutch Deposit Guarantee

Deposits in this account fall under the Dutch Deposit Guarantee Scheme. This means that deposits up to €100,000 per account holder are guaranteed. More information on the Dutch Deposit Guarantee Scheme and cover is provided on the information sheet.

Questions or looking for advice?

Want to know more about the Foreign Currency Account? Then please contact an advisor.