Foreign Currency Deposit Account

Benefits

Protect your foreign currency funds

Does your business make and receive foreign currency payments? A Currency Deposit Account can help to protect your foreign currency funds from adverse changes in the exchange rate, while earning interest.

Save time

We know you want to spend your time focused on your business. If you choose the Currency Call Deposit Account, you can receive and make currency payments online.

Choose the account for your needs

You might need to be able to dip into your funds from time to time. Or you might prefer to save for a fixed term with a greater return. Either way, we'll help you choose the account that works for you.

Currency deposit account at a glance

Available for all major currencies
Can help protect your business from exchange rate fluctuations
Choose from two currency deposit products
Earn interest on your funds
Make foreign currency payments from a Currency Call Deposit Account

Choose between either our Currency Call Deposit Account or Currency Fixed Term Deposit Account.

	Currency Call Deposit Account	Currency Fixed Term Deposit Account
Interest payable on the balance in the account	See deposit rates section below	See deposit rates section below
Type of interest	Variable	Fixed for duration of the investment term
Interest paid	In March and September.	On maturity.
Investment terms	N/A	1 week – 364 days
Withdraw funds at any time	Y	N*
Lodgements	Y	Y only on re-investment
Transaction fees	Y	N*
Joint accounts for up to 4 parties	Y	Y
Access via iBusiness Banking	View & Transact	View Access Only

*If the agreed term of your Currency Fixed Term Deposit Account is broken an Administration Cost will be applied and a Funding Cost may be applied where applicable. Administration Cost €63.50 (currency equivalent levied to the Currency Fixed Term Deposit Account) and Funding Cost (where applicable). Funding Cost represents our costs in replacing your deposit with a corresponding fixed deposit for the period from the date of your withdrawal to the original maturity date of the Currency Fixed Term Deposit Account.

How to apply

Complete the application form online at the back of the Guide to Currency Accounts or Currency Fixed Term Deposit Accounts, print and sign it (or print and complete it manually). Bring the signed form to your AIB branch.

Need help? Call us on +353 1 6115210 (9am to 5pm, Monday to Friday).

Find your local branch

Make an appointment

Related products

Currency current account

Make and receive foreign currency payments without converting your funds

Sterling current account

An account where you can make and receive Sterling payments in the UK

Foreign currency payment

International payment and foreign exchange options for your business

Deposit rates

Interest is subject to Deposit Interest Retention Tax (D.I.R.T.) where applicable at the prevailing rate. For more detailed information please visit Revenue.

A.E.R is the Annual Equivalent Rate.

Product	Current Variable Rate
	A.E.R%	Gross%
Currency Call Deposit Account All Currencies (excluding euro)	0.01%	0.01%
A.E.R. is the Annual Equivalent Rate and shows what the interest rate would be if the interest was compounded and paid each year (instead of monthly or over any other period).

Currency Fixed Term Deposit Account
Product	Fixed Term	Gross %	A.E.R.%	Gross return at maturity %
USD Fixed Term Deposit Account	1 Week	0.10%	0.10%	0.0019%
	1 Month	0.10%	0.10%	0.0083%
	3 Months	0.10%	0.10%	0.025%
	6 Months	0.10%	0.10%	0.05%
	1 Year**	0.10%	0.10%	0.10%

Product	Fixed Term	Gross %	A.E.R.%	Gross return at maturity %
GBP Fixed Term Deposit Account	1 Week	0.10%	0.10%	0.0019%
	1 Month	0.10%	0.10%	0.0083%
	3 Months	0.10%	0.10%	0.025%
	6 Months	0.10%	0.10%	0.05%
	1 Year**	0.10%	0.10%	0.10%

Product	Fixed Term	Gross %	A.E.R.%	Gross return at maturity %
All other currencies (excluding euro)	1 Week	0.05%	0.05%	0.000962%
	1 Month	0.05%	0.05%	0.004167%
	3 Months	0.05%	0.05%	0.0125%
	6 Months	0.05%	0.05%	0.025%
	1 Year**	0.05%	0.05%	0.05%

This table is only an example.
There is no minimum or maximum balance on this account.
** Investment term of 1 Year is 364 days.
The rates we quote in the table are examples only. The actual rate of the Currency Fixed Term Deposit will be the rate at the time you open or reinvest in the account.
Other currencies are available. To find out about Currency Fixed Term Deposit interest rates please contact your relationship manager, branch, or call us on +353 1 6115210 (9:00 – 17:00, Monday to Friday)

All rates are correct as at 23^rd November 2021.

Warning: The interest rate applicable to a Currency Account may be 0% or less than 0%.

Terms and conditions

Additional information

Direct cash lodgements or withdrawals are not supported.
Joint accounts are limited to a maximum of 4 parties.