Benefits of this account

Keep your costs down when doing business around the world.

Low cost

  • No account opening fee
  • No monthly account fee
  • No minimum ongoing balance requirements.

Flexible

  • Choose from 16 major global currencies
  • Convert funds when it suits you.

How does a NAB Foreign Currency Account work?

A NAB Foreign Currency Account is a transaction account for foreign currency.

If you or your business make frequent international transactions, then this account may be for you.

You can make or receive payments in foreign currencies, such as US Dollars and Hong Kong Dollars, without having to convert to or from Australian Dollars first.

With 16 currencies to choose from, you can convert funds when it suits you best, helping to give you control of your foreign funds.

Foreign currencies available

Some of the major trading currencies include:

  • US Dollar (USD)
  • Euro (EUR)
  • British Pound (GBP)
  • Japanese Yen (JPY)
  • New Zealand Dollar (NZD)
  • Canadian Dollar (CAD)
  • Singapore Dollar (SGD)
  • Hong Kong Dollar (HKD)
  • Chinese Yuan Renminbi (CNY) - business customers only

Use our foreign exchange calculator to convert currencies using current exchange rates.

Foreign exchange solutions

We have competitive solutions that make it fast and easy to make international payments using NAB Connect online banking. Our Business Markets specialists manage movements in foreign exchange rates, helping to support your business.

Find out more about international money transfers for your business.

Apply now

The application process is easy.

  1. Apply online if you're a personal customer, a sole trader or a company with up to two directors.

  2. We’ll verify your identity and application details, and contact you if anything further is required.

  3. When your account is ready, we'll email you your account details.

  4. If you're a business customer, apply for NAB Connect to start accessing your account online.

Terms and Conditions

NAB Foreign Currency Account – Onshore, Terms & Conditions

Business Banking Fees – A guide to fees and charges

Personal Banking Fees – A guide to fees and charges

Indicator Rates - For Foreign Currency Account (PDF, 318KB), opens in new window

Foreign Currency Holding Fee and Thresholds (PDF, 460KB), opens in new window

Risks to consider:

Holding money in a foreign currency exposes you to exchange rate risk. If you exchange your foreign currency for Australian dollars in the future, the Australian dollar amount may be less than it was at the time of deposit, due to exchange rate movements over time.

The Target Market Determination for this product is available at nab.com.au/TMD.

NAB recommends you consider the Product Disclosure Statement or other disclosure document, available from NAB, before making any decisions regarding these products. These products are issued by National Australia Bank Limited ABN 12 004 044 937.