Currency Conversion
A simple way to convert and transfer money between your accounts
If you want an easy way to convert and transfer
How does Currency Conversion with Internet Banking work?
Exchange currency in just three easy steps within Internet Banking:
Step 1
Open Internet Banking and log in to your account.
Step 2
Click on the three dots in the upper right corner of your screen.
Step 3
Now click on 'Convert currency'.
Foreign Currency Account
If you want to use Currency Conversion, you need a Foreign Currency Account. It’s the perfect solution if you regularly transfer or receive money in foreign currencies. You can choose from 27 currencies.
Currency risk
Exchange rates can change when you buy or sell foreign currencies. We call this market risk. It means that the value of one currency can change in relation to another.
Features
What is Currency Conversion?
Currency Conversion is an easy way of converting and transferring different currencies between your own accounts. Your money is always converted at the live exchange rate. It allows you to convert money yourself online between 27 different currencies, 5 days a week, 24 hours a day.
Who it's for
Currency Conversion is right for you if you’re looking for an easy way to transfer different currencies between your own accounts. Or if you regularly transfer or receive amounts in foreign currencies. To be able to use this product, you must have at least one foreign currency account.
Available currencies
You can use Currency Conversion if you have a Foreign Currency Account for one of the following currencies:
- USD - American dollar
- GBP - British pound
- AED - United Arab Emirates dirham
- AUD - Australian dollar
- BGN - Bulgarian lev
- BHD - Bahraini dinar
- CAD - Canadian dollar
- CHF - Swiss franc
- CNY - Chinese renminbi
- CZK - Czech koruna
- DKK - Danish krone
- HKD - Hong Kong dollar
- HUF - Hongarian forint
- ILS - Israeli new shekel
- JPY - Japanse yen
- KWD - Kuwaiti dinar
- MXN - Mexican peso
- NOK - Norwegian krone
- NZD - New-Zealand dollar
- PLN - Polish zloty
- SAR - Saudi riyal
- SEK - Swedish krona
- SGD - Singapore dollar
- THB - Thai baht
- TRY - Turkuish lira
- QAR - Qatar rial
- ZAR - South African rand
Fees
We charge a margin when you convert currencies. This means that we charge a fee for converting the currency, on top of the buying or selling price. This fee includes an exchange rate mark-up or down, based on the exchange rate used by the banks themselves, and the cost of the risk of changes in the exchange rate. This fee is calculated as part of the exchange rate and is incorporated into the rate that we hold for you for 20 seconds. On Internet Banking, you will see the exchange rate for the transaction after clicking the 'Get exchange rate' button.
Terms and conditions
In addition to the General Banking Conditions, Currency Conversion is also subject to its own terms and conditions. They are part of the terms and conditions for a Foreign Currency Account and are listed below:
FAQs about transactions
Which exchange rate do I get?
We show you the buying and selling rates that match the details of your transaction, such as the currency pair and the amount. You can use this information to request the live exchange rate. This live exchange rate is valid for 20 seconds. The currency is converted as soon as you accept the rate, and the amounts will be debited and credited from and to your accounts right away.
How much is the mark-up?
We charge a margin when you convert currencies. This means that we charge a fee for converting the currency, on top of the buying or selling price. This fee includes an exchange rate mark-up or down, based on the exchange rate used by the banks themselves, and the cost of the risk of changes in the exchange rate. This fee is calculated as part of the exchange rate and is incorporated into the rate that we hold for you for 20 seconds. On Internet Banking, you will see the exchange rate for the transaction after clicking the 'Get exchange rate' button.
What is the maximum amount I can convert?
You can convert up to €5,000,000 per currency conversion.
If you convert money between two foreign currencies, the maximum total amount is the equivalent of 5,000,000 in euros.
Are there specific times for Currency Conversion?
Currency Conversion is available Monday to Friday, 24 hours a day.
How long does it take for the money to be credited to my account?
The conversion is executed on the same day and the transaction will appear in your account right away unless there is no trading in your chosen currency on that particular day. This includes weekends and certain national holidays. In this case, the money will be credited to your account on the first following trading day.
Other FAQs
Can I do a currency conversion via the ABN AMRO app?
No, Currency Conversion is only available on Internet Banking. It also works if you log in through the mobile browser on your phone or tablet.
What’s the difference between this and transferring foreign currency via an international transfer?
When you transfer money in a foreign currency or to a country outside SEPA in the regular fashion, the transaction is seen as an international transfer. International transfers are subject to a fixed fee and exchange rate.
Currency Conversion involves converting and transferring currencies between your own accounts. You convert at the live exchange rate and the converted money is credited to your account right away. Simple, with no extra fixed fees.
Can I use Currency Conversion to trade in foreign currencies?
No. Currency Conversion is only intended for converting and transferring money between your own accounts.