Global Foreign Currency Deposit Account

A global foreign currency deposit account is a recommended banking option for international entrepreneurs or companies looking to invest large sums for a fixed period. Almost all international banks offer a global foreign currency deposit account - Healy Consultants will help you choose the most suitable product which best fits your circumstances. Areas in which we assist clients include:

The global foreign currency deposit account is essentially an arrangement whereby an individual or organisation places cash in an offshore bank. The deposit has a fixed term which varies from one week to five years. For the duration of the term, the client has restricted funds access. For example, most banks impose high penalty charges should the account holder wish to withdraw funds before the fixed terms is completed.

The global foreign currency deposit account offers high interest rates often fixed for periods of up to five years. Although terms differ from bank to bank, most global foreign currency deposit accounts accrue interest daily and are credited quarterly.

Some global foreign currency deposit accounts also have restrictions on the way funds can be transferred to and from the account.

We generally encourage our clients to open global foreign currency deposit accounts in the world’s major currencies. This enables our clients to minimise the potentially adverse impact of volatile exchange rates.

This may depend on i) our client’s nationality ii) his place of residence and iii) the nature of the account features offered.

Meanwhile, some banks require that the applicant already hold a current account with the bank. Determining the most suitable location for the global foreign currency deposit account.

Healy Consultants assists our clients in opening all types of global foreign currency deposit account, including the demand account, savings deposit account and time deposit account.

The account includes 24 hour telephone and Internet banking.