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Foreign currency accounts

BankSA 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 1800 221 815.

Read the Product Disclosure Statement.