Take your investments global
Build your portfolio
- US dollar (USD)
- British pound sterling (GBP)
- Euro (EUR)
- Australian dollar (AUD)
- Canadian dollar (CAD)
- Hong Kong dollar (HKD)
- Japanese yen (JPY)
- Israeli shekel (ILS)
Grow your income
- Zero monthly maintenance fees
- Save money by hedging against currency fluctuations
- Earn interest depending on local and international market conditions
- Get free monthly electronic statements
- Make free digital transfers between your FCA and your current or savings account. Fees may be charged for other services
Manage your accounts
- Access your money whenever you need it
- Transfer money between your FCA and savings or current account at no cost
- Transfer money easily between multiple FCA accounts
- Make outgoing international payments from your FCA
What you need to open a FCA
You must be a South African resident, foreign national or non-resident
You must be 18 years old or older
You must have a Nedbank current or savings account
There is no minimum income required
Competitive interest rates
Interest earned on your FCA is calculated daily and paid monthly. Rates are dependent on local and international market conditions and our internal pricing considerations.
Your personal interest rate is dependent on your account balance. You can view your current interest rate on the Money app and Online Banking.
Interest rates are reviewed regularly and may change without notice. You can see our current currency interest rates on the table below.
FCA interest rates
Currency |
Credit |
|---|---|
2.08% |
|
2.20% |
|
0.01% |
|
1.90% |
|
0.85% |
|
0.00% |
|
0.00% |
|
0.00% |
Interest rates are reviewed regularly and may change without notice.
How to apply
South African residents
- On the Money app
Go to international banking and travel > Foreign currency accounts > Open foreign currency account and follow the prompts
Minimum investment amount: 1 unit in chosen foreign currency e.g. USD1
- Online
Follow this link to apply online
Minimum investment amount: R1,500.00
- Apply at a branch
Visit your nearest Nedbank branch with your ID or contact your banker
Minimum investment amount: R1,500.00
Foreign nationals
- Online
Follow this link to apply online
Minimum investment amount: R1,500.00
- Apply at a branch
Visit your nearest Nedbank branch with your passport or contact your banker
Minimum investment amount: R1,500.00
Non-residents
Features at your fingertips
Bank quickly and easily on the Money app and Online Banking:
-
Manage
View your FCA balances, transactions and account details
-
Buy
Transfer funds to your FCA from your current or savings account using your single discretionary allowance*
-
Sell
Transfer funds from your FCA to your current or savings account*
*South African residents only
More ways to bank
Email transfer requests
Transfer funds to your transaction account
For amounts less than R160,000, email fca@nedbank.co.za with your FCA account number and current or savings account details. We will contact you to verify and confirm the exchange rate. You will need to complete a once-off indemnity form.
For transactions over R160,000, please complete and email the FCA transfer form.
You may need to provide supporting documents in line with exchange control regulations.
Email payment requests
Make payments from your FCA
Complete this form and email it to servicedeskpayments@nedbank.co.za. We will call you to verify and process your payment.
Depending on your reasons for payment, you may have to provide supporting documents.
In-person transactions
Visit your nearest branch or contact your banker
Transfer funds between your FCA and current or savings accounts.
Transfer funds between your FCA accounts.
Allowances and limits
Single discretionary allowance
South African residents are allocated an annual single discretionary allowance of R1 million.
This may be used as payment for any legal purpose abroad, as defined in the Currency and Exchanges Manual for Authorised Dealers from the South African Reserve Bank.
This includes investments, travel-related payments and gifts, without any tax implications.
Foreign investment allowance
As a South African resident, you're allocated a foreign investment allowance of R10 million a year.
To use this allowance, you will need a tax number and tax compliance status PIN letter from the South African Revenue Service. Keep in mind that there will be tax implications when using this allowance.
For information on how to get your tax compliance status PIN letter, please visit the SARS website or call the SARS Contact Centre on 0800 00 SARS (7277).
Please note: The purpose of this request is for foreign investment. It is not a letter of good standing.
Foreign nationals and non-residents
FCA investments are limited to funds introduced to and/or earned in South Africa. Proof of income is required.
Please note:
- All transactions conducted through your FCA must comply with South African Exchange Control regulations and limits.
- You cannot pay local third parties using your FCA.
- Your FCA cannot be used as security.
- Your FCA cannot go into overdraft.
- The account is intended for personal use only and cannot be used for business purposes.
- As a South African resident, you cannot withdraw foreign currency in banknotes.
- Read our full FCA terms and conditions here.
Maximise global potential with a foreign currency account
Help and support
Chat to Enbi - your 24/7 assistant
on the Money app or Online Banking
Chat to Enbi - your 24/7 assistant
on the Money app or Online Banking
Get the Money app
For a secure and convenient way to manage your money, open an account, get a loan, or even buy gift and prepaid vouchers: get the Nedbank Money app.
