Business Solutions > International trade > Accounts > Foreign currency accounts
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Foreign Currency Accounts
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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
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| 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
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| 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.
- 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 statement through National Online Business or National Online Corporate.
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1 Conditions apply.
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