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 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

How to apply

Download the application form at the back of the Guide to Currency Accounts or Currency Fixed Term Deposit Accounts. Return the completed form to your AIB branch.

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

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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.

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).

 

Product

Current Fixed Rate

Currency Fixed Term Deposit Account

Gross%

British Pound (GBP)

0.10%

US Dollar (USD)

0.10%

All other currencies (excluding euro)

0.05%

The rate quoted above is indicative only and the actual rate applicable to the Currency Fixed Term Deposit will be the applicable rate prevailing at the time the account is opened or reinvested in.

All rates are correct as at 23rd November 2021.

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

Additional information

* 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.

 

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