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).
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.