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Foreign currency account rates

Credit Interest Rates

Interest paid by Westpac to you on positive balances (credit interest rates)

You can refer to the following table for current Foreign Currency Account credit interest rates. Interest is:
 

  • Calculated daily on each balance amount within the tiers stated below
  • Paid monthly in arrears on the last business day of each calendar month.

 

The Foreign Currency credit interest rates below are correct as at 31st July 2018.

 Currency Tier 1 balances
Tier 1 Interest Rates p.a.
Tier 2 balances  Tier 2 Interest Rates p.a. Tier 3 Balances
Tier 3 Interest Rates p.a.
USD 0 - 5,000 0% 5,001 - 50,000 0% over 50,000 0%
CAD 0 - 6,000 0% 6,001 - 60,000 0% over 60,000 0%
CHF 0 - 6,000 0% 6,001 - 60,000 0% over 60,000 0%
CNY All balances

0%

       
DKK 0 - 30,000 0% 30,001 - 300,000 0% over 300,000 0%
EUR 0 - 4,000 0% 4,001 - 40,000 0% over 40,000 0%
GBP 0 - 3,000 0% 3,001 - 30,000 0% over 30,000 0%
HKD 0 - 40,000
0% 40,001 - 400,000 0% over 400,000 0%
JPY 0 - 535,000 0% 535,001 - 5,350,000 0% over 5,350,000 0%
NOK 0 - 30,000
0% 30,001 - 300,000 0% over 300,000 0%
NZD 0 - 7,000
0% 7,001 - 70,000 0.50% over 70,000 1.25%
SEK 0 - 35,000
0% 35,001 - 350,000 0% over 350,000 0%
SGD 0 - 8,500
0% 8,501 - 85,000 0% over 85,000  0%
THB 0 - 200,000
0%  200,001 - 2,000,000 0%  over 2,000,001 0%
ZAR All balances
0%        

View Foreign currency accounts essentials.

 

Overdraft Base Rates

Interest paid by you to Westpac on negative balances (overdraft interest rates)

Debit interest is applicable to Foreign Currency overdrafts attached to Foreign Currency Accounts. The debit interest rate applicable to the overdraft comprises a base rate plus a margin over the base rate agreed at the time the overdraft is established. You can refer to the following table for the current base rates. Overdraft base rates are variable and subject to change.

The Foreign Currency Account overdraft base rates below are correct as at  31st July 2018.

Currency Interest rate
CAD - Canadian Dollars 4.40%
CHF - Swiss Francs 2.95%
EUR - Euro 3.65%
GBP - British Pound 4.20%
HKD - Hong Kong Dollar 4.20%
JPY - Japanese Yen 2.20%
NOK - Norwegian Kroner 6.70%
NZD - New Zealand Dollar 5.55%
SEK - Swedish Kroner 6.70%
SGD - Singapore Dollar 4.05%
USD - United States Dollar
3.45%

Conditions, fees and normal lending criteria apply. More product details are available on request.

 

Credit Balance Fees

Fees paid by you to Westpac on positive balances (credit balance fee) – wholesale clients only

Some foreign currencies may have very low or negative interest rates. If you hold an account in one of these currencies, and Westpac determines that you are a wholesale client* as defined under the Corporations Act, a credit balance fee may be applicable to your account. You should refer to the Foreign Currency Account terms and conditions for more information. In particular you should refer to the information and examples under the section headed “Interest rates and credit balance fees” in the terms and conditions.

You can refer to the following table for current Foreign Currency Account credit balance fees. The fee is calculated and applied daily on total account balance amount.

The Foreign Currency credit balance fees below are correct as at 8th February 2018.

Currency Tier 1 Tier 1 Rate Tier 2 Tier 2 Rate
USD All balances 0%    
GBP All balances 0%    
HKD All balances 0%    
EUR 0 - 750,000 0% over 750,000 0.48%
DKK 0 - 5,500,000 0% over 5,500,000 0.94%
JPY 0 - 100,000,000 0% over 100,000,000 0.17%
CHF 0 - 900,000 0% over 900,000 1.02%
SEK 0 - 7,500,000 0% over 7,500,000 0.77%

Credit balance fees are only applicable to clients who are determined by Westpac to be wholesale clients* as defined under the Corporations Act.
*If Westpac determines that you are a wholesale client as defined under the Corporations Act, Westpac will notify you before applying a credit balance fee to your Foreign Currency Account.

More information

For more information on foreign currency accounts refer to the terms and conditions:

If you have any queries or would like to apply for a currency not available online you can:

  • Contact any Westpac branch.
  • Contact your Westpac Relationship Manager.


For foreign currency overdraft interest rates, you can:

  • Call the Westpac International Service Line on 131 032
  • Contact any Westpac branch
  • Contact your Westpac Relationship Manager.


For enquiries or full details of all terms and conditions on foreign currency accounts