Foreign Currency Account
Making and receiving payments in foreign currency
- Making and receiving payments in the same currency
- Choice between many different foreign currencies
- Easy exchange in Euros
If you regularly make or receive transactions in a foreign currency, the Foreign Exchange Account may be of interest to you. You hold one other currency in this bank account, and you can receive or transfer foreign currency. You decide for yourself when you change your foreign currency back to the Euro. View the overview of the daily and monthly current base rates (in Dutch).
Foreign Currency Account for private clients
Choice of 27 different currencies
Do you regularly transact in a foreign currency? Then a Foreign Currency Account may be of interest to you. You have a choice of 27 types of currency. Would you like to open a Foreign Currency Account or do you have a request for a company or holding company? If so, please contact us.
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).
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.
A Foreign Currency Account is for private clients who often make and receive payments in a foreign currency.
What currencies?
You can open an account for the following currencies:
- USD – US Dollar
- GBP – British Pound
- AED – UAE 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 – Hungarian Forint
- ILS – Israeli Shekel
- JPY – Japanese Yen
- KWD – Kuwaiti Dinar
- MXN – Mexican Peso
- NOK – Norwegian Krone
- NZD – New Zealand Dollar
- PLN – Polish Zloty
- SAR – Saudi Arabian Riyal
- SEK – Swedish Kroon
- SGD – Singaporese dollar
- THB – Thai Baht
- TRY – Turkish lira
- QAR – Qatarese Rial
- ZAR – South African Rand
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.
Fees and charges
View the fees and charges for the Foreign Currency Account.
Terms and Conditions
View the Foreign Currency Account Conditions (in Dutch).
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).
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.
Chinese Yuan
We would like to inform you about the different denominations of the Chinese Yuan and how they affect your transactions
The Chinese Yuan has two variants
- CNY (onshore Yuan) is the official currency of China and is primarily used for domestic transactions within mainland China. The value of CNY is regulated by the Chinese central bank, the People's Bank of China (PBOC), which sets a daily reference rate.
- CNH (offshore Yuan) is the version of the Chinese Yuan that is traded outside China (offshore). At ABN AMRO, the CNH market interest rate is used as the base rate for currency accounts.
We offer accounts in the CNY variant, which means your transactions are processed in this currency. For the interest rate on this account, we use the CNH market rate because the information we receive only contains CNH market rates.
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?
For more information about the Foreign Currency Account or to open an account, please contact your advisor.