Foreign Currency Account
Take the stress out of trading abroad
Bank of Scotland's Foreign Currency Account can help make trading abroad a little easier. The account enables you to manage your receipts and payments when trading globally, while limiting the risk and expense involved in exchanging currencies.
The account is available to anyone with a Bank of Scotland sterling business bank account.
Key features
- Simplifies foreign currency payment and collection.
- Overdrafts in all major currencies are available.
- Reduces the risk of adverse fluctuations in exchange rates.
For more information call 0845 606 0286
- A Bank of Scotland Foreign Currency Account can help you avoid the cost and hassle of transferring to sterling when receiving monies from overseas.
- The account can be used to fund short‐term cash flow requirements in all major currencies.
- Makes receiving and making payments in foreign currencies easier.
- Helps you reduce the risks of adverse movements in exchange rates.
- Overdraft facilities in all major currencies can be arranged.
- Credit interest may be paid on qualifying balances.
Lending is subject to status
Changes in the exchange rate may increase the sterling equivalent of your debt.
The information below applies to Foreign Currency accounts opened on or after 12 September 2011. For Foreign Currency accounts opened before 12 September 2011, please check with your Relationship Manager for which rates and charges apply.
Details of conditions, charges and interest rates for this account.
If you would like to know what your currency account’s reference rate is linked to and where this is independently published, view our Foreign currency interest rate guide.
Debit interest
Overdrafts are subject to arrangement.
Unauthorised borrowing will be charged at 12% over the reference rate of the account’s currency.
Credit interest
The credit interest rate is variable and linked to the reference rate of your account's currency.
Credit interest is paid on a seven tiered tranche as follows:-
Interest rate bands |
Rate of your account’s currency |
|---|---|
<£3,000 |
No interest paid |
£3,000 to £19,999 |
-3.50% |
£20,000 to £39,999 |
-2.50% |
£40,000 to £79,999 |
-1.50% |
£80,000 to £199,999 |
-1.00% |
£200,000 to £399,999 |
-0.50% |
£400,000 to £799,999 |
-0.25% |
£800,000+ |
Full rate |
Note: Should the relevant reference rate fall below the applicable interest rate band margins specified above no interest will be paid.
Conditions
Please visit our terms and conditions section to view all terms and conditions, charging and associated information.
For more information call 0845 606 0286
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