Banking in Different Currencies

1. What are foreign exchange charges?

When you transfer money from one currency to another, you'll be charged a percentage of the amount as a foreign exchange charge.

If your bank account is not in the local currency, you may be charged whenever you:

• use your debit card
• make a payment or transfer to someone who banks in the local currency
• pay local cash, cheques or your salary into your account

2. Minimise foreign exchange charges with different currency accounts

You can cut your costs by opening a bank account in the currency you commonly spend or earn in.

Our different currency International Accounts can help you:

• exchange currency in a single lump sum for use abroad
• pay your salary or other income into an account in the corresponding currency
• shop with a debit card in the corresponding currency*
• withdraw cash from an ATM in the corresponding currency

*Foreign exchange charges only apply when the transaction is in a different currency to that of the card.

3. What currencies are available?

Our international account is available in:

• Pounds Sterling
• US Dollars
• Euro

You can get an account in a second or third currency at no extra charge.

4. When to choose a US Dollar, Euro or Sterling international account

• US Dollar accounts often benefit people earning or travelling in the USA, the Middle East (eg Dubai) or countries in South America.
• Euro accounts often benefit people who earn or travel in Europe, or own a holiday home or investment property in a European country.
• Sterling accounts often benefit people who come to work in the UK from other countries. They're also used by UK expatriates who want to keep their money in a stable currency and enjoy convenient money transfers and a tax-efficient bank account.