{
  "source": "https://digital-api.bankofmelbourne.com.au/cds-au/v1/banking/products/BOMForeignCurrencyAccount",
  "note": "Product Reference Data published by the data holder under the Consumer Data Right, as cached by this site (refreshed every 6 hours).",
  "data": {
    "productId": "BOMForeignCurrencyAccount",
    "lastUpdated": "2026-05-25T00:00:00Z",
    "productCategory": "TRANS_AND_SAVINGS_ACCOUNTS",
    "name": "Foreign Currency Account",
    "description": "Foreign Currency Accounts would mainly suit the business involved in both import and export as a Foreign Exchange Risk management tool.",
    "brand": "Bank of Melbourne",
    "isTailored": false,
    "additionalInformation": {
      "overviewUri": "https://www.bankofmelbourne.com.au/corporate-business/foreign-exchange/foreign-currency-accounts",
      "termsUri": "https://www.bankofmelbourne.com.au/content/dam/bom/downloads/pds/BOM-FgnCurrencyAccountTC.pdf",
      "eligibilityUri": "https://www.bankofmelbourne.com.au/corporate-business/foreign-exchange/foreign-currency-accounts",
      "feesAndPricingUri": "https://www.bankofmelbourne.com.au/corporate-business/foreign-exchange/foreign-currency-accounts"
    },
    "features": [
      {
        "featureType": "OTHER",
        "additionalInfo": "Foreign Currency Accounts available in 14 currencies , they are United States Dollars (USD) ,Great Britain Pounds (GBP),Canadian Dollars (CAD),Danish Kroner (DKK),Euro (EUR),Hong Kong Dollars (HKD),Japanese Yen (JPY),New Zealand Dollars (NZD),Norwegian Kroner (NOK),Singapore Dollars (SGD),Swedish Kronor (SEK),Swiss Francs (CHF),Thailand Baht (THB),South African Rand (ZAR)."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "This facility consolidates foreign exchange transactions for ease of cash management."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Provides a natural hedge for Importers. It also accommodates delayed or early payments and receipts."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Consolidates funds raised from other financing tools."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Accounts are interest bearing (minimum balance apply)."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Regular Bank Statements detailing transactions are provided."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Possible protection against unfavourable foreign exchange rate movements over time"
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "You can make and receive payments in another currency without having to convert them to Australian dollars."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "You can manage your transactional requirements for a foreign currency."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Foreign Currency account interest rates are available through our representatives or from any Westpac Group branch. These rates are subject to change. Information on current interest rates are available on request."
      },
      {
        "featureType": "OTHER",
        "additionalInfo": "Apart from uncleared drafts and cheques, you may initiate a request to withdraw your money at any time, as long as you provided an acceptable form of identification when opening the account."
      },
      {
        "featureType": "FRAUD_PROTECTION",
        "additionalInfo": "The product includes fraud protection features"
      }
    ],
    "constraints": [
      {
        "constraintType": "MIN_BALANCE",
        "additionalValue": "50000.00",
        "additionalInfo": "You will need to maintain a minimum foreign currency amount of the equivalent of AUD$50,000 at all times. "
      }
    ],
    "eligibility": [
      {
        "eligibilityType": "OTHER",
        "additionalInfo": "Foreign Currency Accounts can only be opened in the name of one legal person."
      },
      {
        "eligibilityType": "RESIDENCY_STATUS",
        "additionalValue": "Australian Residency ",
        "additionalInfo": "Customers must have an Australian address and currently reside in Australia."
      },
      {
        "eligibilityType": "MIN_AGE",
        "additionalValue": "18",
        "additionalInfo": "Individuals must be at least 18 years of age."
      },
      {
        "eligibilityType": "OTHER",
        "additionalInfo": "To open a Foreign Currency Account we will need your name, address and your occupation. "
      }
    ],
    "fees": [
      {
        "name": "Duplicate Account statement",
        "feeType": "EVENT",
        "feeMethodUType": "fixedAmount",
        "fixedAmount": {
          "amount": "7.50"
        }
      },
      {
        "name": "Outward telegraphic transfers in Australian dollars (via Online Banking)",
        "feeType": "TRANSACTION",
        "feeMethodUType": "fixedAmount",
        "fixedAmount": {
          "amount": "20.00"
        }
      },
      {
        "name": "Outward telegraphic transfers in Australian dollars or foreign currency (staff assisted)",
        "feeType": "TRANSACTION",
        "feeMethodUType": "fixedAmount",
        "fixedAmount": {
          "amount": "32.00"
        }
      },
      {
        "name": "All inward telegraphic transfers in Australian dollars or foreign currency",
        "feeType": "TRANSACTION",
        "feeMethodUType": "fixedAmount",
        "fixedAmount": {
          "amount": "12.00"
        }
      }
    ]
  }
}