Foreign Currency Accounts
A Foreign Currency Account is a New Zealand bank account that is held in a currency other than New Zealand Dollars (NZD).
A Foreign Currency Account may be an ideal solution if you are looking to reduce your foreign exchange rate exposure ahead of future foreign currency payments/receipts, or if you are holding foreign currency in anticipation of favourable exchange rate movements.
ANZ offers Foreign Currency Accounts in most major currencies and may also consider minor currencies on request.
Product information
Interest rates
Foreign Currency Accounts are interest bearing although whether or not your account earns interest will be subject to current market interest rates and the balance of your account. Where payable, interest is calculated daily subject to deposit tiers and credited to your account at the end of each month. Find out about our current interest rates or contact International Customer Support on 0800 863 863.
Fees
A monthly account fee valued in the currency of your account will be charged if you make a withdrawal within the corresponding month. So long as no withdrawals are made from your account, no account fees will be payable. Funding same currency term deposits from the account will not be treated as a withdrawal.
| Currency | Fee amount |
|---|---|
| USD | $4 |
| AUD | $4 |
| GBP | £3 |
| EUR | €3 |
| JPY | ¥350 |
| CAD | $4 |
Access
Foreign Currency Account balances are held on call ensuring you can access your funds immediately as you need. Accounts can be accessed via ANZ Phone Bankingi or by visiting any ANZ branch.
Foreign Currency Term Deposits
A Foreign Currency Term Deposit is a fixed term investment held in a currency other than New Zealand Dollars (NZD).
A Foreign Currency Term Deposit may be an ideal solution if you are holding foreign currency, do not require immediate access to your funds, and would like to ensure that a set rate of interest is paid for an agreed period.
ANZ offers Foreign Currency Term Deposits in most major currencies and may also consider minor currencies on request. To set up a Foreign Currency Term Deposit you must first have a Foreign Currency Account held in the same currency.
Product information
Available terms
Foreign Currency Term Deposits are available in terms ranging from 30 days through to 365 days.
Interest rates
Interest rates for Foreign Currency Term Deposits are agreed at the commencement of the investment and based on market interest rates at the time. Where payable, interest is calculated daily and paid at maturity. Click here for our current interest rates or contact International Customer Support on 0800 863 863.
Fees
No fees are charged for Foreign Currency Term Deposits however an adjustment to returns will apply if early repayment is required.
Minimum deposit
Minimum deposit amounts are applicable to Foreign Currency Term Deposits.
| Currency | Minimum deposit amount |
|---|---|
| USD | $10,000 |
| AUD | $10,000 |
| GBP | £5,000 |
| EUR | €7,500 |
| JPY | ¥850,000 |
| CAD | $10,000 |
Maturity actions
Upon maturity you may reinvest the principal and/or interest in a new Foreign Currency Term Deposit, or have the funds deposited back into your Foreign Currency Account. If the Bank has not been provided with instructions, we will automatically reinvest the principal and interest into a new Foreign Currency Term Deposit for the same term at the applicable market interest rate at the time.
For more information, visit your nearest ANZ branch or speak to one of our Foreign Currency Account specialists by calling 0800 863 863.
This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product.
Our Reserve Bank disclosure statement and our Foreign Currency Term Deposit Investment Statement are available on www.anz.co.nz or on request from any ANZ branch, free of charge.
All fees are subject to change. Transaction and other fees may apply. Credit interest is not always payable on all currencies and is subject to minimum credit balances and interest rate tiers as determined by ANZ and may be altered at any time by ANZ.
i ANZ Phone Banking International Services are only available between 8.30am and 5.00pm Monday to Friday (New Zealand time) excluding New Zealand public holidays.
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