Foreign currency accounts

If you make or receive payments in a foreign currency other than sterling regularly, a Foreign currency account can help you manage your finances quickly and conveniently.

Opening a Foreign currency account means you can have access to a wide range of benefits:

  • Simplify foreign currency dealings
  • Choose from a wide range of foreign currencies
  • Make and receive foreign payments with ease
  • Limit the risk and expense involved in exchanging currencies
  • Competitive rates of interest paid against some currencies (deposit account only)
  • Use customers’ money to pay suppliers (when trading in the same currency)
  • Deposit surplus funds without the cost of converting them to sterling.

Further information

Opening an account in a foreign currency

In order to be eligible for a Foreign Currency account you need to have a Co-operative Bank Sterling personal or business current account. 

If you already have a Co-operative Sterling account you can download a business foreign currency account application form. You can also download a personal foreign currency account application form. Post your form to:

New Applications
The Co-operative Bank p.l.c
Foreign Services Team
PO Box 200

Alternatively you can call the Foreign Services Team on 03457 558 888^ and we will send you an application form in the post.

Currencies you can open a Foreign currency account in

You can open an account in the following currencies:

  • AUD Australian Dollar
  • CAD Canadian Dollar
  • CHF Swiss Franc
  • DKK Danish Krone
  • EUR Euro
  • HKD Hong Kong Dollar
  • JPY Japanese Yen
  • NOK Norwegian Krone
  • NZD New Zealand Dollar
  • SEK Swedish Krone
  • SGD Singapore Dollar
  • USD US Dollar
  • ZAR South African Rand

Our two different currency accounts

We offer two different Foreign currency accounts; each designed to meet the individual needs of our customers:

Current account
Reliable and cost effective, our non-interest current account allows you to make and receive payments in foreign currency simply and safely in order to carry out all your day-to-day banking needs.

Deposit account
Our interest paying deposit account allows you to retain the flexibility of a current account, with the added benefit that you can accrue interest on some credit balances.

Facilities for current and deposit accounts:

  • Monthly statements
  • No minimum balance
  • Electronic transfer in branch or by phone
  • Transfer between currency and sterling account
  • Cheques and foreign transfers can be paid into account
  • Credit interest paid on some currencies (deposit account only)

Interest rates which may apply to your account

Credit interest rates can vary from day to day. Foreign currency account interest rates which will apply to your account are provided before you open your account or are available on request from the Foreign Services team.

Charges for Foreign currency accounts

Charges for our Foreign currency accounts can be found below in the International Banking Tariff.

Please note, customers cannot view currency accounts on their online banking and the account doesn’t come with a debit card.