BankSA
Foreign Currency Account
Foreign Currency Accounts would mainly suit the business involved in both import and export as a Foreign Exchange Risk management tool.
Savings & transaction accountsBank updated 13 Aug 2026
At a glance
- Pricing
- Rates on application
§ 02 — Fees · 5
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Duplicate Account statement | Event | $7.50 | — | — |
| Service Fee | Event | $50 | — | Opening an account for business customers we may complete a company search to verify you banking information. A fee of $50 (AUD) will be charged for this service |
| All inward telegraphic transfers in Australian dollars or foreign currency | Transaction | $12 | — | — |
| Outward telegraphic transfers in Australian dollars (via Online Banking) | Transaction | $20 | — | — |
| Outward telegraphic transfers in Australian dollars or foreign currency (staff assisted) | Transaction | $32 | — | — |
§ 03 — Features
Fraud protection
- · Foreign Currency Accounts available in 14 currencies , they are United States Dollars (USD) ,Great Britain Pounds (GBP),Canadian Dollars (CAD),Danish Kroner (DKK),Euro (EUR),Hong Kong Dollars (HKD),J…
- · This facility consolidates foreign exchange transactions for ease of cash management.
- · Provides a natural hedge for Importers. It also accommodates delayed or early payments and receipts.
- · Consolidates funds raised from other financing tools.
- · Accounts are interest bearing (minimum balance apply).
- · Regular Bank Statements detailing transactions are provided.
- · Possible protection against unfavourable foreign exchange rate movements over time
- · You can make and receive payments in another currency without having to convert them to Australian dollars.
- · You can manage your transactional requirements for a foreign currency.
- · Foreign Currency account interest rates are available through our representatives or from any Westpac Group branch. These rates are subject to change. Information on current interest rates are availa…
- · Apart from uncleared drafts and cheques, you may initiate a request to withdraw your money at any time, as long as you provided an acceptable form of identification when opening the account.
§ 04 — Eligibility & limits
- · Minimum age 18
- · Residency: Australian Residency
- · Minimum balance $50,000
- · Foreign Currency Accounts can only be opened in the name of one legal person.
- · To open a Foreign Currency Account we will need your name, address and your occupation.
§ 05 — Compare
§ 06 — Run the numbers
Put this product through a calculator
Published by BankSA under the Consumer Data Right, last changed by them on 13 Aug 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.