RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%  
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  Foreign Currency Account Business

A transaction account to make or receive payments in a foreign currency and/or hold a foreign currency balance. Available in a range of foreign currencies. Available currencies are:United States Dollars (USD), Chinese Yuan RMB (CNY), Great Britain Pounds (GBP), Canadian Dollars (CAD), Danish Kroner (DKK), Euro (EUR), Hong Kong Dollars (HKD), Japanese Yen (JPY), New Zealand Dollars (NZD), Norwegian Kroner (NOK), Singapore Dollars (SGD), Swedish Kronor (SEK), Swiss Francs (CHF), Thailand Baht (THB), South African Rand (ZAR). Things you should know:This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for this product, including the Foreign Currency Account Terms & Conditions, International Products and Services Standard Fees and Online Banking Terms and Conditions, before deciding. This product is only available in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. A Foreign Currency Account should not be used to speculate on foreign currencies or to conduct frequent trading of foreign currencies. A Foreign Currency Account is not an account to assist with travel needs. It cannot be linked to a Travel Money card and you cannot access your Foreign Currency Account through an ATM, either within Australia or overseas. You cannot withdraw or deposit foreign notes or coins into a Foreign Currency Account. A foreign Currency Account should not be used for Controlled Monies purposes. A controlled money account is a specific account for professional service providers, e.g. law firms or real estate agents, to meet their legal obligation to hold money on behalf of their clients and governed by State/Territory based legislation. Deposits held in Foreign Currency Accounts are not covered by the Australian Government?s Financial Claims Scheme.Credit facilities are subject to application and Westpac's normal lending assessment criteria. Fees and charges may apply to the products and services listed. Full details of the Terms and Conditions for this product can be requested from Westpac.Payments received in a foreign currency require manual reconciliation to reflect the correct invoice status. BPAY is not available for invoices issued in a foreign currency. Payment of FCA invoices can be done using direct deposit via international transfer only. Deposit maintenance fees are only applicable to clients who are determined by Westpac to be wholesale clients as defined under the Corporations Act. If Westpac determines that you are a wholesale client as defined under the Corporations Act, Westpac will notify you before applying a deposit maintenance fee to your Foreign Currency Account.Interest paid by you to Westpac on negative balances (overdraft interest rates) - Debit interest is applicable to Foreign Currency Overdrafts attached to Foreign Currency Accounts. The debit interest rate applicable to the overdraft comprises a base rate plus a margin over the base rate agreed at the time the overdraft is established. You can refer to the following table for the current base rates. Overdraft base rates are variable and subject to change. Conditions, fees and normal lending criteria apply. More product details are available on request.
Category: Transaction & Savings Accounts  Last Updated January 15, 2024  Effective December 16, 2024

 General Lending Rates

Rates listed below are for a VARIABLE product. Additional Information JPY
Interest Rate
2.20% PA
Comparison Rate
0.00%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  Overdraft Base Rates - USD
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 6.45%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - CAD
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 7.40%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - CHF
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 2.95%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - EUR
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 5.65%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - GBP
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 6.70%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - HKD
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 6.80%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - JPY
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 2.20%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - NOK
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 6.70%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - NZD
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 7.55%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - SEK
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 6.70%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:
  Overdraft Base Rates - SGD
Maximum: $
  • Lending Rate Type: Variable
  • Interest Rate: 4.05%, Comparison Rate 0.00%
  • Repayment Type:
  • Loan Purpose:

 Product Features

  • Other Additional Information: Make and receive payments in another currency without converting to AUD
  • Other Additional Information: Accounts available in a range of foreign currencies
  • Other Additional Information: Online access via Westpac Online Banking to make and view transactions. Online Banking Terms and Conditions apply
  • Other Additional Information: You choose when your foreign currency is converted into AUD
  • Other Additional Information: Open online in less than 10 minutes for the eligible foreign currencies. Other foreign currencies are available in branch or by speaking with your banker.
  • Other Additional Information: Accounts have an Australian BSB
  • Digital Banking Additional Information: Customers can access FCAs via Westpac Corporate Online
  • Overdraft Additional Information: Overdrafts are also available (on application) in eligible foreign currencies.

 Product Eligibility

  • Min Age - 18.
  • Residency Status - Operating With An Australian Address.
  • Other Additional Information: To make an outward telegraphic transfer from your Foreign Currency Account using Westpac Online Banking, you must have an eligible Westpac Australian dollar transaction account. You will not be able to proceed with the transaction on your Foreign Currency Account unless you have an eligible Westpac Australian dollar transaction account. Standard fees and charges may apply for this Westpac Australian dollar account. This eligible Westpac Australian dollar account must contain a sufficient balance to pay the applicable telegraphic transfer fees. If you don?t already have an eligible Westpac Australian dollar transaction account, you can open one online or by contacting us.
  • Other Additional Information: Overdrafts may be available to eligible business entities that intend to use the product for their short-term working capital needs.

 Bank Fees and Charges

  • Monthly Account Keeping Fee (Periodic), Amount: 0.00.
  • Outward Telegraphic Transfers In A Foreign Currency (via Westpac Online Banking Except Corporate Online) (Transaction), Amount: 0.00. Additional Information: All amounts stated are in Australian Dollars. Telegraphic Transfer fees relate to both international and domestic. Other fees may apply.
  • Outward Telegraphic Transfers In A Foreign Currency (via Corporate Online) (Transaction), Amount: 20.00. Additional Information: All amounts stated are in Australian Dollars. Telegraphic Transfer fees relate to both international and domestic. Other fees may apply.
  • Outward Telegraphic Transfers In Australian Dollars (via Westpac Online Banking) (Transaction), Amount: 20.00. Additional Information: All amounts stated are in Australian Dollars. Telegraphic Transfer fees relate to both international and domestic. Other fees may apply.
  • Outward Telegraphic Transfers In Australian Dollars Or Foreign Currency (via Branch/over-the-counter) (Transaction), Amount: 32.00. Additional Information: All amounts stated are in Australian Dollars. Telegraphic Transfer fees relate to both international and domestic. Other fees may apply.
  • All Inward Telegraphic Transfers In Australian Dollars Or Foreign Currency (Transaction), Amount: 12.00. Additional Information: All amounts stated are in Australian Dollars. Telegraphic Transfer fees relate to both international and domestic. Other fees may apply.
  • Deposit Maintenance Fee - Usd (Periodic), Amount: Not Listed.. Additional Information: All Balances
  • Deposit Maintenance Fee - Gbp (Periodic), Amount: Not Listed.. Additional Information: All Balances
  • Deposit Maintenance Fee - Hkd (Periodic), Amount: Not Listed.. Additional Information: All Balances
  • Deposit Maintenance Fee - Eur (Periodic), Amount: Not Listed.. Additional Information: 0 - 750000
  • Deposit Maintenance Fee - Eur (Periodic), Amount: Not Listed.. Additional Information: Over 750000
  • Deposit Maintenance Fee - Dkk (Periodic), Amount: Not Listed.. Additional Information: 0 - 5500000
  • Deposit Maintenance Fee - Dkk (Periodic), Amount: Not Listed.. Additional Information: Over 5500000
  • Deposit Maintenance Fee - Jpy (Periodic), Amount: Not Listed.. Additional Information: 0 - 100000000
  • Deposit Maintenance Fee - Jpy (Periodic), Amount: Not Listed.. Additional Information: Over 100000000
  • Deposit Maintenance Fee - Chf (Periodic), Amount: Not Listed.. Additional Information: 0 - 900000
  • Deposit Maintenance Fee - Chf (Periodic), Amount: Not Listed.. Additional Information: Over 900000
  • Deposit Maintenance Fee - Sek (Periodic), Amount: Not Listed.. Additional Information: 0 - 7500000
  • Deposit Maintenance Fee - Sek (Periodic), Amount: Not Listed.. Additional Information: Over 7500000

 Document Downloads

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The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.

QUANTUM FINANCIAL SOLUTIONS PTY LTD​