Foreign Currency Current Account
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Cost effective and convenient solution in managing foreign currency transactions
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Benefits
Features
Important Facts
Staying in control of your finances is vital. If your business is involved in regular overseas trade and payments, a Foreign Currency Current Account offers a flexible and cost-effective way of managing your money.
How it works
A Foreign Currency Current Account enables you to make or receive payments in a foreign currency without the need to convert your foreign currency into Sterling. Available with or without an overdraft facility, the account offers a cheque book in Euro or US dollars only. Deposits can be made via cheque, cash or international money transfer. Withdrawals can be made via drafts, cash (within limits) or outward payment order.
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Benefits
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- Personal attention - dedicated pro-active relationship management
- Cost effective - method for managing foreign currency transactions
- Save money - by not converting foreign currency to Sterling
- Cash flow relief - assist your trading requirements with an agreed overdraft facility
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Features
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- Receive and pay foreign currency without having to convert to Sterling
- Available in most major currencies
- Borrow in foreign currency against future foreign currency receivables
- Cheque book available to issue your own cheques (Euro or US dollars only)
- Personal attention - dedicated Relationship Partner who can make decisions - fast
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Complementary solutions
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Important facts
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Interest rate
- Available on application
- The actual rate available will depend upon your circumstances. Ask for a personalised illustration
Interest type
- Debit interest applied to amounts overdrawn
How is interest calculated?
- Daily on cleared balance generally on 360 day basis
How is interest applied?
- Quarterly to your account
Minimum amount
Maximum amount
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Alternative options
What it costs
- Quarterly fee payable for Cheque Book facilities
- Fess may be charged on lodgements / withdrawal
- Talk to your Business Partner for full details
Terms and conditions
- Agreed overdraft subject to lending assessment
- Clearing timescales may vary according to currency type
- No direct debits are available
- Foreign currency deals will be at the published buy / sell chart rates or through direct dealing
- Cash withdrawals / deposits are limited and may be subject to a fee
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Your home maybe repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
Changes in the exchange rate may increase the sterling equivalent of your debt.
Yorkshire Bank is a trading name of Clydesdale Bank PLC which is authorised and regulated by the Financial Services Authority. Credit facilities other than regulated mortgages are not regulated by the Financial Services Authority. Clydesdale Bank PLC, Registered in Scotland (No. SC001111), Registered Office 30 St Vincent Place, Glasgow, G1 2HL. A member of the National Australia Bank Group of companies.
Yorkshire Bank is a trading name of Clydesdale Bank PLC which is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends upon the type of business and circumstances of the claim. In respect of deposits with a UK office, payments under the scheme are limited to 100% of the first £2,000 of a depositor's total credit balances with the Bank and 90% of the next £33,000, resulting in a maximum payment of £31,700. Further details of the scheme are available from us on request or from the Financial Services Compensation Scheme: www.fscs.org.uk or Financial Services Compensation Scheme, 7th Floor, Lloyds Chambers, Portsoken Street, London, E1 8BN.
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