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Managing your foreign currency

Do you often send money back and forth overseas? An ASB Foreign Currency Account lets you do this in the currency you want, without having to exchange it.

The easy way to manage overseas currencies

With an ASB Foreign Currency Account you can hold, send and receive funds in a selected foreign currency, without having to convert it to or from New Zealand dollars.

You can deposit foreign currency funds directly into the account. For example, you might be bringing funds home after living or working overseas, receiving an inheritance, or managing a property off-shore.

You can also convert funds into your selected foreign currency from another ASB account, and deposit the money directly into your Foreign Currency Account. You may want to hold these funds or pay them overseas for a number of reasons, including supporting family members abroad, paying rent or planning an extended stay overseas.

It's simple, easy and can save you money. As a bonus, there's no monthly account fee on ASB Foreign Currency Accounts.

01

Operating your Foreign Currency Account is easy

Using your Foreign Currency Account is simple. You can see it in FastNet Classic internet banking and on the ASB Mobile Banking app along with your other ASB accounts.

Your balance shows in the foreign currency. You can transfer funds to and from your Foreign Currency Account just like you do with your other ASB accounts. You can also use it to make or receive overseas payments.

02

Making payments, deposits and withdrawals

When you want to send funds overseas in one of your chosen currencies, just make an International Money Transfer (IMT). You simply choose your Foreign Currency Account as the source of the funds. There’s no currency conversion to worry about, so you won’t get caught out by unexpected changes in exchange rates.

When you’re receiving international payments, give the sender your Foreign Currency Account number and the ASB SWIFT code, ASBBNZ2A. (We have a simple form you can complete and send, to provide all these details.) The funds go into your account without conversion.

You can deposit and withdraw* foreign cash from your account at any ASB branch. (A 1% cash handling fee applies, with a minimum fee of $10.) You can also use your Foreign Currency Account to deposit international cheques, or purchase ASB foreign currency drafts. Our standard transaction fees apply and some deposits may be subject to a hold period.

*You can withdraw cash and cheques from your Foreign Currency Account at any ASB branch from Monday to Friday 9am - 4pm NZT (excludes public and currency holidays).

03

Changing between currencies

When you want to convert, you can change between your foreign currency and New Zealand dollars online. You simply transfer the funds in FastNet Classic or on the ASB Mobile Banking app. We take care of the conversion for you without charging any fees.

You get to see our preferential Foreign Currency Account exchange rate, so you can decide if it’s the right time to complete the transfer. This gives you lots of flexibility and control. 

Tip: You can hold your funds in your chosen foreign currency until the exchange rate suits you, and then convert them.

04

Operating more than one foreign currency

If you regularly deal with several different currencies, you can have a Foreign Currency Account for each one. You can see them all in FastNet Classic and even convert directly between your different currencies just by transferring funds between them.

So for example, you could transfer from your US dollar account directly into your Japanese Yen account, rather than converting them into New Zealand dollars first. We offer preferential Foreign Currency Account exchange rates.

05

Which foreign currencies are available?

You can open a Foreign Currency Account in nine of our most commonly traded currencies.

  • United States Dollars
  • Australian Dollars
  • British Pounds
  • Euros
  • Swiss Francs
  • Canadian Dollars
  • Hong Kong Dollars
  • Japanese Yen
  • Singapore Dollars

A minimum opening balance may apply.

Open an ASB Foreign Currency Account

Open an account online

You can open your personal Foreign Currency Account online right now.

Open account

Call us

We can help you decide if a Foreign Currency Account is right for you.

0800 806 280

Email us

Do you have some questions? Send us an email and we'll get back to you with answers.

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Other helpful guides

Making and receiving overseas payments

Timing is important when it comes to exchanging your money. We have options that make it easy for you to convert to and from New Zealand dollars, and receive and make payments when it suits you.

Managing foreign exchange risk

Need to manage a range of currencies? With anywhere, anytime online access and a network of ASB branches across New Zealand, we can help you to get the timing right to exchange your money.

ASB’s terms apply. Fees may change. See our other fees and charges.