Our Multi-Currency Call Account (MCA) and Foreign Currency Time Deposit (FCTD) make it easier to hold a range of currencies and transact around the world.
Our foreign currency accounts help you diversify assets and conduct foreign currency transactions from a single local bank.
Enjoy a hassle-free MCA with no minimum balance. Monthly maintenance fees may apply.
Hold funds in a range of currencies without having to convert them to US Dollars.
Easily withdraw and deposit funds to and from your MCA. Check issuance and cash transaction are not available.
FDIC protection1 on foreign currency deposits to put your mind at ease.
Manage your foreign currency and US Dollar needs with one bank. A Multi-Currency Call Account (MCA) allows you to receive, send and hold foreign currencies without opening an account in a foreign country. MCA is a non-interest bearing foreign currency denominated account currently available in the following currencies:
Diversify your assets with our foreign currency time deposit. We offer a wide range of foreign currency time deposits at competitive interest rates, with terms ranging from 7 days to 12 months. Please call 866-228-4299 for more details.
Minimum account opening – USD 25,000 equivalent
Foreign currency time deposits are FDIC insured 1
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.
There’s no minimum balance requirement on a Multi-Currency Call Account (MCA). The minimum balance for Foreign Currency Time Deposit (FCTD) is USD 25,000 equivalent.
No. MCA does not accept cash transactions. To buy or sell foreign currency cash notes, please see our Foreign Currency Cash Exchange service for details.
Buying and selling foreign currency usually takes two business days to settle, except for the Canadian Dollar, which typically takes one business day to settle.
Yes. Foreign currency deposits are FDIC insured.1 However, the FDIC does not protect against foreign currency exchange rate risk.
If you need help receiving foreign currency, please see our Incoming Wire instructions.
MCA is a non-interest bearing account. Please contact our Foreign Exchange Department at 866-228-4299 or by email at [email protected] for our competitive FCTD interest rate.
Our specialists are happy to assist you with all your International Banking needs. Please reach out to our team for more information.