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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 most 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.

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 current account.

If you already have a Co-operative Sterling account you can apply by downloading an application form below, and post to:

New Applications
The Co-operative Bank p.l.c
Overseas Financial Services
9 Prescot Street
London
E1 8BE

View our Foreign currency account Application Form

Alternatively you can call the Foreign Services Team on 08457 558 888 (Find out about our call charges) 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 Dollars
CAD Canadian Dollars
CHF Swiss Francs
DKK Danish Krone
EUR Euros
HKD Hong Kong Dollars
JPY Japanese Yen
NOK Norwegian Krone
NZD New Zealand Dollars
SEK Swedish Krone
SGD Singapore Dollars
USD US Dollars
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 most 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
  • Drafts can be issued
  • Cheques and foreign transfers can be paid into account
  • Credit interest paid on most currencies (deposit account only)

Interest rates which may apply to your account.
Credit interest rates can vary from day to day. Full details of the interest rate which will apply to your account are provided before you open your account or are available on request from the Foreign Services Team or can be found here.

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

To apply or for more information on our foreign services call 08457 558 888 Find out about our call charges (Lines are open 8am – 4pm Mon to Fri) or email foreign.banking@co-operative.co.uk