Multi-currency credit account

The same credit. The same account. Different currencies.

If your company operates in foreign trade, this account offers you a single credit limit to operate in euros and in 25 other currencies.

Multi-currency credit features

For everyone

The Multi-Currency credit account is available for residents and non-residents.
A sub-account for every currency

When you always use the same credit limit in euros, you can open as many sub-accounts as the currencies your business needs.
Pay less

Your company will save on administrative expenses and differences in exchange rates: the drawdowns in one currency are offset by the collections received in that same currency.
Choose the credit type

You can choose between normal credit, credit for drawdowns in euros or currencies, or both options.
A simple, clear account

The credit and debit positions of the various sub-accounts are settled simultaneously but separately.
Flexible

The term can be open or closed and you can use it to make repayments over the credit limit.

Remember, non-euro accounts are subject to exchange rate fluctuations.

See Multi-currency credit account conditions Multi-currency credit account conditions

The multi-currency credit account is available to individuals and legal entities, whether they are residents or non-residents.

Application

The credit is issued in euros and then you tell us the other currencies you want to trade with.

Types

There are several ways to use this product:

As credit in euros.
As credit in a currency.
As drawdowns in euros for a specified term: 30, 60, 90 or 180 days.
As drawdowns in a currency for a specified term: 30, 60, 90 or 180 days.

Interest rate

There may be two spreads, one for the euro tranche and one for the currency tranche
The benchmark interest rate is set according to the currency of the credit facility and the agreed benchmark. Once the spread has been set, it applies to all currencies.

Interest settlement

Credit and debit interest on credit is settled the same day.
Forward drawdowns in both euros and currencies are settled on the due date and debited to the credit tranche of the currency.

See FAQs FAQs

Can I use a multi-currency credit account for direct debits and deposits?

Yes, it works just like a normal credit account.

If I have balances in currency, does it raise my available credit balance in euros?

No, currency balances are not offset against debit balances in euros.

Is shared ownership possible?

Yes, it's possible, although there can never be resident and non-resident holders in the same policy.

What's the difference between the “policy exchange rate” and the “market exchange rate”?

Policy exchange rate refers to the exchange rate the Bank applies to drawdowns in foreign currency during a given year for the consumption of the policy risk limit. Market exchange rate refers to the price of currencies in the foreign exchange market.

Are market exchange rates taken into account for consumption of the limit?

No, only historical or policy exchange rates that remain in effect for 12 months.

When does the price of currencies change (policy or historical exchange rate) for loans?

Once a year, 15 days before renewal.