The Barclays’ Foreign Currency Account3 is aimed at UK importers and exporters. Foreign Currency Accounts are available in a wide range of currencies, including AUD, CAD, CNY, CZK, DKK, EUR, HKD, JPY, NZD, NOK, PLN, SGD, ZAR, SEK, CHF, AED and USD.
This account comes with no minimum balance requirements, and you can access your balances 24/7 via online banking, telephone or the Barclays app.
However, you’ll need to open a separate account for each currency you trade in, as this account doesn’t let you hold multiple currencies. And while euro, USD and Canadian dollar transactions settle on the same day, all other currencies take up to two working days.
If you’re a new Barclays customer, you’ll need to open a business account before you can apply for a Foreign Currency Account.
Charges:
- You won’t have to pay a monthly account fee for your Business Account for the first 12 months (if you don’t already have a Barclays Business Account)3a
- After 12 months, you’ll pay £8.50 per month
Read more: Business foreign currency accounts: 4 options compared
