Foreign currency deposits
Customers who receive large values in foreign currency and who require a deposit facility to hold that foreign currency, pending conversion to Australian dollars or repatriation, may elect to hold a foreign currency deposit. This deposit is a fixed term, fixed rate facility and is available for amounts in excess of AUD 100,000 (or equivalent values in USD, GBP, EUR, HKD, NZD, JPY, NZD and CAD). Interest rates vary according to term and currency and are available on request. Terms from 1 week to 1 year are offered.
Features and benefits
- customers must hold an AUD transaction account in the same name with Bank of Queensland
- interest is calculated on daily balance
- interest is paid at end of term
- interest rates available on request
- minimum balance: AUD 100,000 or equivalent
- no cash deposits allowed
- cheque deposits are subject to approval
- withdrawals prior to maturity are subject to approval and interest adjustment
confirmations of transactions issued - minimum term: 1 week, maximum term: 1 year.
Fees and charges
- outward telegraphic transfers: AUD 30
- inward telegraphic transfers: AUD 10
- repeat statements: AUD 6
- repeat confirmations: AUD 6
- foreign cheque deposits: AUD 45 (if allowed)
- conversions to Bank of Queensland AUD account in same name: free.
Government charges
- TFN withholding tax: 48.5% of interest earned
- interest withholding tax (non-residents): 10% of interest earned.
How to apply
Drop into one of our convenient locations or contact one of our international services experts on 1300 55 72 72 or email the international services team
Important information
Products issued by Bank of Queensland Limited ABN 32 009 656 740 AFSL 244616. Fees and charges are payable. This website contains general advice. This advice has been prepared without taking account of your objectives, financial situation or needs. You should consider the appropriateness of any advice before acting on it. You should obtain and consider the relevant Product Disclosure Statement (PDS), terms and conditions, Financial Services Guide and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. You can obtain a copy of those documents from any Bank of Queensland branch or from this website.