Foreign Currency Accounts
Companies that routinely perform transactions in the same foreign currency can open a current account in that currency. This facilitates the company's international operations, and lessens the risks related to exchange rate fluctuations.
Simplify your business with China!
Manage your business relations with China, thanks to our renminbi solutions.
Our team is here to assist you in your foreign trade operations. You can count on the expertise of our seasoned specialists to accompany you at every step of your growth.
Our line of renminbi solutions affords you the opportunity to electronically collect funds and make payments in your clients and suppliers’ local currency, thanks to our Internet Banking Solutions – Businesses (IBS-B).
of our line of
- Foreign currency accounts
- Foreign exchange transactions
- Forward contracts
- Credit/guarantee letters
You can therefore handle your own fund transfers between accounts of different currencies (Canadian, American and Chinese), as well as verify your balance and the details of your transactions, and make payments across the world securely and at your convenience!
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Our US$ account offers the same features as our CDN$ account. It can be used for all types of transactions, and is available in interest-bearing form. Your cashed cheques are returned to you with your bank statement.
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Flexible and practical, our foreign currency accounts are a profitable and secure solution for companies operating on the international scene.
With this e-account, you can collect funds and make payments in the major foreign currencies, thanks to our Internet Banking Solutions - Businesses (IBS-B)1.
Whether in euros, British pounds, Chinese renminbi or other, your foreign currency accounts2 will help simplify your international payments and operations made in foreign currencies.
The advantages of a foreign currency account:
- Access your account 24/7 via our Internet Banking Solutions - Businesses
- No minimum deposit required
- Your deposits are payable on demand
- Several currencies available, including: EUR, GBP, JPY, NOK, AUD, ZAR, CHF
Now available: the CNY (Chinese renminbi)3!
- Make international payments when it's convenient for you, thanks to our online banking services.
- Monitor your account balance and the details of your transactions whenever you want, wherever you are.
- Deposit funds and request payments and transfers from your CAD or USD account to your foreign currency account, and vice versa, at any time. Amounts are automatically converted in the currency of the destination account4.
- Receive a monthly account statement.
- The majority of the functions associated with foreign currency accounts are managed by the account owner via our IBS-B, which are made secure thanks to a SecurID access key®:
- Transaction history
- Thanks to our partnerships and alliances with the world's largest banks, you can undertake transactions with the utmost confidence.
Foreign currency accounts do not allow for the deposit or withdrawal of cash or for the issuing of cheques.
Monthly fees apply for the foreign currency account5.
If you do not subscribe to IBS-B, you can open foreign currency accounts, and have your payments and transactions carried out by our branch personnel. They are just as secure, but do not provide as much flexibility as an e-account.
For more information, please contact the International Trade Manager for your region, or contact National Bank Business Central at 514‐394‐4494 (Montreal region) or 1-844-394-4494 (toll-free).
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1 Only certain browser versions can be used to easily access our website and to have access to National Bank's Internet banking services. For more information, go to nbc.ca/browsers.
2 Foreign currency accounts are not insured by Canada Deposit Insurance Corporation (CDIC).
3 Transactions in CNY renminbi are subject to certain restrictions. For more information, contact your account manager or the International Trade Manager for your region.
4 The currency conversion will be done according to the National Bank's usual practices. The applicable exchange rate will be that in effect when the transaction is processed.
5 Fees of $35 per month apply to foreign currency accounts. Fees subject to change. For more information on fees, contact your account manager.
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