Commercial Foreign Currency Account

If you regularly pay or receive foreign currencies, a Commercial Foreign Currency Account can be an efficient way of managing your international trade.

Our Commercial Foreign Currency Account provides flexibility to help to maximise international trade opportunities as you need to be able to hold foreign currency balances, receive and make international payments in numerous currencies to meet your global trading requirements.

Why open a Commercial Foreign Currency Account?

  • Choose from a wide range of foreign currencies
  • Simplify the payment and receipt of foreign currencies
  • Helps to manage exposure to exchange rate movements
  • Minimises foreign exchange costs
  • Transfer money from a Sterling business account to your foreign currency account
  • Chequebook available in most major currencies
  • Overdraft facilities available in most major currencies (subject to our normal lending criteria)
  • Simple application process and no minimum balance required.

Find out more in our Guide to Commercial Foreign Currency Accounts (PDF).

If you have excess non-Sterling currency funds which you intend to hold for a period of time, you may wish to review our Currency Deposit Accounts Products which may help you maximise your interest on surplus funds. Currency Deposit Accounts

  • To apply for a Commercial Foreign Currency Account, you should:

    • already hold a Sterling business account with us
    • require the Commercial Foreign Currency Account for business use
    • be aged 18 or over
    • be a sole trader, partner or director (with authority to borrow on behalf of your business for currency overdraft borrowing applications).
  • Account

    Maintenance Fee

    Account

    Commercial Foreign Currency Account

    Maintenance Fee

    £60 per year (fee taken in two instalments of £30 charged in March / September)1

    The Account Maintenance Fee will be debited from a related GBP sterling account and charged in March and September.

  • On the phone

    Please contact your Relationship Manager to discuss further.

    If you are a new customer to Bank of Scotland you will need to open a Sterling business account with us in order to open a Commercial Foreign Currency Account.

    If you are a new customer, please call us on 0345 606 0286. Lines are open Monday to Friday 9:00am-5:00pm.

Contact us

Call us on 0345 072 5555 or if you're calling from abroad or prefer not to use the 0345 number you can call +44 (0) 131 203 3138 to speak to one of our Business Management colleagues. We are available from 9am to 5pm Monday to Friday except UK bank holidays.

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