Foreign currency accounts

Bank of Melbourne offers competitive Foreign Currency Accounts in all major currencies. Foreign Currency Accounts would mainly suit the business involved in both import and export as a Foreign Exchange Risk management tool. Foreign Currency Overdrafts and Term Deposit services are also available.

Advantages of this type of facility are:

  • Consolidates foreign exchange transactions for ease of cash management.
  • Provides a natural hedge for Importers.
  • Accommodates delayed or early payments and receipts.
  • Consolidates funds raised from other financing tools.
  • Accounts are interest bearing (minimum balance apply).
  • Regular Bank Statements detailing transactions are provided.

Foreign Currency Overdrafts

Foreign Currency Overdrafts provide working capital for trade purposes, allowing you to centralise your cash flow and manage it on a day-to-day basis. After consolidating foreign exchange cash flows in the one account, working capital requirements can be funded on finer terms using other financing tools such as multi-currency trade finance.

Other advantages of these overdrafts include:

  • Natural hedge for exporters.
  • Accommodate delayed or early payments and receipts.

Need more information?

If you have any questions or want more information, call us toll free on 1300 665 616.