Foreign Currency Account

If you regularly pay or receive foreign currencies, a foreign currency account can be an efficient way of managing your international trade.

Our 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 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.

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  • Is your business eligible?

    To apply for a Foreign Currency Account, you should:

    • already hold a Sterling business account with us
    • require the 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

    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 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.

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International Business

Trading internationally can bring new benefits to your business. We’ll guide you through the next steps.