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ASB Foreign Currency Account

An ASB Foreign Currency Account provides an easy way to manage your money between another country and New Zealand. Use it to hold foreign currency on-call or as a term deposit with ASB without needing to convert your money into New Zealand dollars until you're ready.

Benefits at a glance

  • It’s easy to open an ASB Foreign Currency Account with FastNet Classic internet banking
  • There's no monthly fee on any ASB Foreign Currency Account
  • Exchange when you want – keep your money in your ASB Foreign Currency Account until you’re ready to convert or exchange rates are favourable
  • Buy foreign cash or deposit it at any ASB branch without needing to convert currencies
  • Open an ASB Foreign Currency Account in each of the currencies you need
  • Use Fastnet Classic or FastNet Business internet banking (with the international module) to send and receive money overseas at anytime

Is it right for me?

If you’ve recently arrived in New Zealand or you’re a Kiwi living overseas and you regularly make or receive payments in another currency, here’s an option that could be right for you.

With an ASB Foreign Currency Account you can hold another currency in a New Zealand account – leaving you to decide when the time is right for you to convert your money.

Please note, minimum opening balances apply.

How it works

An ASB Foreign Currency Account lets you deposit and manage your money in a New Zealand account without needing to convert it to New Zealand dollars. You’ll need an ASB transaction or savings account to open an ASB Foreign Currency Account. Minimum balance limits and minimum opening balances may also apply.

Save on unnecessary conversion costs

With no need to convert foreign currency to New Zealand dollars or back again, you can hold your funds until you’re ready to convert. You’ll save on unnecessary conversion costs and get to take advantage of favourable exchange rates.

Flexible currency management

As your on-call funds are easily accessible, it provides a quick and convenient way to manage your foreign exchange requirements.

Easy international money transfers

Use FastNet Classic internet banking to make international money transfers directly from your ASB Foreign Currency Account. Make just one transfer, in the right currency to save on fees.

Online and mobile access 24/7

Use FastNet Classic to manage your ASB Foreign Currency Account from anywhere anytime – no matter what the time zone.

If you’re on the go, the ASB Mobile app lets you use your mobile or smartphone to check balances and transaction history and transfer funds between your accounts.

Earn Interest

Some ASB Foreign Currency Accounts offer the potential to earn interest on on-call funds.

Interested in a term deposit? Call 0800 806 280.

Need an ASB Foreign Currency Account for your business?

See the business section of this website.

Have an ASB Foreign Currency Account?

If so, log in to FastNet Classic internet banking and select Transfers to obtain a quote applicable to the amount of your foreign exchange transaction. If you are happy with the rate you can complete your transfer online.

If you need help, please call the Global Markets team on 0800 806 280 or +64 9 302 3055

Log in

Minimum opening balances

Account Currency
Minimum Opening Balance
AUD
Australian Dollar
AUD5,000
GBP
British Pound
GBP5,000
CAD
Canadian Dollar
CAD5,000
EUR
Euro
EUR5,000
HKD
Hong Kong Dollar
HKD50,000
JPY
Japanese Yen
JPY500,000
SGD
Singapore Dollar
SGD5,000
CHF
Swiss Franc
CHF5,000
USD
U.S. Dollar
USD5,000

 

 

Fees

Foreign Currency Accounts
Fee
Deposit or Withdrawal by Foreign Cash
(Cash-Handling Fee)

(minimum $10)

There are no fees to transfer between your Foreign Currency Account and your NZD accounts. Service charges and foreign exchange fees apply. Please view our guide to fees.

Foreign cash deposits may be subject to a hold period.

Interest Rates

ASB Foreign Currency Accounts may be eligible to accrue interest – please call us on 0800 806 280 for more information.

Get started today

01. Apply

Not with ASB yet? Join online. Already a customer? Log in to FastNet Classic internet banking to open your ASB Foreign Currency Account.

02. Transfer

Transfer money between your Foreign Currency Account and your other ASB accounts in FastNet Classic internet banking or the ASB Mobile app. You can also view balances and send International Money Transfers.

03. Visit

Visit any ASB branch to get notes and foreign cheques using funds in your ASB Foreign Currency Account.

Open an ASB Foreign Currency Account now

Open an ASB Foreign Currency Account online

You can open an ASB Foreign Currency Account in FastNet Classic internet banking. Not with ASB? Join now.

Open online

Any questions?

We'll help you with your foreign exchange query. Email us.

privatebankingdealers@asb.co.nz

Call us

The Global Markets team are here to help Monday to Friday 8:00am–5.30pm.

0800 806 280

Get more with ASB

ASB’s terms apply. Fees may change. Refer to asb.co.nz for other fees and charges. 

Foreign exchange ASB Foreign Currency Account