Foreign Currency Accounts

Smiling couple looking at laptop for foreign currency accounts transactions

Accounts to Meet Your International Needs

Foreign currency accounts enable you to maintain a foreign currency balance without having to open a bank account in a foreign country.

We offer various foreign currency accounts to meet your international needs. Whether you are looking to diversify your investments or just looking to hold a balance in a foreign currency, we have the right solution for you.

Our Foreign Currency Demand Account and Foreign Currency CDs enable you to make and receive payments in the many commonly traded foreign currencies. A Foreign Currency CD can also provide higher yields in funds for your investment, offering asset diversification advantages. All foreign currency accounts are held in the United States and are insured by the FDIC.*

Description

The Foreign Currency Demand Deposit Account is a non-interest bearing account that enables you to make transactions in a foreign currency without having to convert funds. This type of account can reduce the costs associated with foreign exchange transactions.

Benefits

  • No minimum balance (Monthly fee may apply.)
  • Liquid - funds settle in 1-2 business days
  • Same day internal transfers
  • Cost savings - eliminate or reduce costs associated with FX
  • FDIC insured*

* There are substantial risks to almost all investments. Prior to entering into the foreign currency market, we encourage you to understand the factors that influence the currency market and the risks that are involved. These investments are subject to FX market risk and the possible loss of principal. Foreign Currency Demand Accounts and Foreign Currency CDs are FDIC insured to the regulatory limits. FDIC insurance covers against loss due to failure of the institution, but not due to fluctuation in currency values. FDIC insurance does not cover losses associated with those risks. For more information about the risks of foreign currency deposit accounts, please contact an Brenix Credit Union Bank foreign exchange advisor. You may request a copy of the "Foreign Exchange Risk Disclosure Statement" for more details.

Currencies Offered

Asia Pacific

Chinese Yuan

Australian Dollar

New Zealand Dollar

Hong Kong Dollar**

Singapore Dollar**

Japanese Yen**

Eurozone

British Pound

Euro**

Swedish Krona**

Swiss Franc**

Americas

Canadian Dollar

Mexican Peso

**Foreign Currency Certificates of Deposit (FXCD) is not available in these currencies. 

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