Foreign Currency Accounts

Transaction account maintained onshore in Australia to hold foreign currencies. Businesses can make deposits and withdrawals as required and even hold funds on an interest bearing basis.1

Benefits
  • Any export proceeds or funds received from other sources can be credited to your account
  • Foreign currency may be held in anticipation of favourable exchange rates
  • National Foreign Currency Accounts are interest bearing (interest is paid for specific currencies only and where balances exceed minimum requirements)
  • Foreign currency receipts can be held to pay for imports or other foreign currency obligations
  • Foreign currency may be purchased, to take advantage of favourable exchange rates, and credited to a Foreign Currency Account to meet future trade expenses
Features
  • Helps you manage exchange risk, especially if your business has expenses and receipts in the same foreign currency, as there is no need for conversion.
  • Finance is also available through an approved overdraft on your National Foreign Currency Account. Availability of this facility is subject to the normal credit assessment criteria of NAB.
  • You can arrange for your Foreign Currency Account statements to be sent on a regular basis.
  • You may perform transactions on your Foreign Currency Account through National Online Corporate and NAB Connect.
  • Statements of your Foreign Currency Account can be sent to you on a regular basis, and if applicable you may view your Foreign Currency Account through National Online Business, National Online Corporate and NAB Connect.

1 Conditions apply.

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