Benefits of a Foreign Currency Call account
Receive, hold and pay out in one currency
If you get money from overseas, you can hold it in your foreign currency call account rather than converting it to New Zealand dollars. Then if you need to make a payment in that currency, you can do so using the funds in your foreign currency account.
Manage the potential of a better exchange rate
With a Foreign Currency Call account you can buy foreign currency now when the exchange rate is right for you, and hold it until you need it later on. Likewise, if you already have foreign currency you can wait a while before converting it to New Zealand dollars.
Keeping track of your account
You can check the balance of your Foreign Currency Call account, whenever it suits, through our Internet Banking service. With BNZ, your balance shows in real time, so it’s always up to date.
Account maintenance fee
Monthly maintenance fee can be refunded
If your average daily balance for the month is over the rebate level for your account’s currency, the Foreign Currency Call account maintenance fee will be refunded in full. The rebate level for each currency is shown in the rates and fees section below and is subject to change from time to time.
Ways to access your Foreign Currency Call account
You can make payments and transfer funds:
You can use your Foreign Currency Call account to:
- transfer funds to or from your NZD transactional accounts (you won’t be able to access your account from ATMs in NZ or overseas).
- send international transfers to overseas bank accounts.
Other things it pays to know
- Minimum balances apply in order to earn interest on credit balances and interest rates can change daily.
- If applicable, interest is calculated daily and paid on the last business day of the month.
- Our foreign currency call account interest rates, monthly maintenance fees and rebate levels are listed below.
- Funds are held in New Zealand, not overseas.
How to open a Foreign Currency Call account
BNZ Internet Banking customers
Use the Apply Now menu option within Internet Banking to arrange for a new Foreign Currency Call account to be opened. Your request will be actioned within two business days and you’ll be able to view your account in Internet Banking.
Internet Banking for Business customers
Contact your Relationship Manager.
Account interest rates & fees
|USD - United States Dollars||AUD - Australian Dollars||CAD - Canadian Dollars||GBP - Great Britain Pounds|
|EUR - European Community Euro||SGD - Singapore Dollars||HKD - Hong Kong Dollars|
These per annum interest rates are indicative only and are subject to change without notice
Tiers are subject to change at BNZ's discretion without notice
No interest is payable on credit balances below the minimum tier
Interest is calculated daily and paid in the currency in which the account is held, on the last business day of each month
A 'month' for interest purposes refers to the period from the day after the last business day in a month up to and including the last business day of the next month.
|Country||Currency||Monthly^ Maintenance Fee||Rebate Level|
Account maintenance fees are charged on the last business day of each month.
Account maintenance fees and rebate levels are subject to change from time to time.