Foreign Exchange Products & Services
|Products and services||Multi-Currency Call Account (MCA)1, 2||Foreign Currency
Time Deposit1, 2
|Risk Management||Foreign Currency Remittance||Foreign Currency Check Collection||Foreign Currency Banknote (Cash) Exchange|
|Description||A non-interest bearing foreign currency denominated account that allows you to receive, send and hold foreign currencies without opening an account in foreign country. MCAs are available in a wide variety of currencies.||Provides diversification of your investment and earns competitive interest rates.||We provide foreign exchange risk mitigation strategies to help protect against currency fluctuations and your bottom line. We provide tailored foreign exchange solutions utilizing spot, forward3, window forward3, non-deliverable forward3, swap3 and option3.||A safe way to send or receive foreign currency at competitive exchange rate.||An alternative to receive foreign currency payments. It may take longer to clear international collections compared to wire transfer.||Foreign currency banknote available in over 60 currencies at a competitive exchange rate for your next vacation or business trip.|
- There are significant risks to most investments. Before you undertake any foreign currency transaction, we encourage you to speak with our FX specialists, in addition to personal research, in order to better understand the factors involved that may influence the currency market as well as the risks that are involved. Foreign currency investments are subject to market risk and currency fluctuations, which may involve a loss of principal; FDIC insurance does not cover against a loss in principal due to these types of risks. For more information about the Multi-Currency Account (MCA), Foreign Currency Time Deposit (FCTD) and the risks involved, please contact our Foreign Exchange Department.
- FDIC insurance covers your account in the case of the default of the insured depository institution. FDIC insurance for deposits denominated in a foreign currency shall be determined and paid in the amount of US Dollars that is equivalent in value to the amount of the deposit denominated in that foreign currency as of the close of business on the date of default of the insured depository institution, up to the amount established by the FDIC.
- This product or service may not be available to all customers, please ask the Foreign Exchange Department for details.