Looking to diversify your investment portfolio? Get in touch with us now! Absa customers can click on the ‘Apply now’ tab to open a Currency Investment Account. If you’re not an Absa customer, complete the form below and we will call you back.

Protect

Provides protection against fluctuations in the rand exchange rate.

Invest

An affordable way to invest.

Diversify

Offers the opportunity to have a varied investment portfolio.

  • Why a Currency Investment Account?

    Benefits:

    • It acts as a hedge against adverse fluctuations in foreign currency
    • It is a savvy way to diversify your investment portfolio
    • No monthly fees and no minimum deposit.
  • What do I need to apply?

    You will need the following:

    • Your official South African identity document
    • Your tax number
    • Absa current account
    • You must be 18 years and older.
  • How do I apply?

    • Log in to your Absa Online banking profile
    • Select 'Apply'
    • Expand the international banking solutions taps 
    • Click 'Open account now'
    • Accept the Surecheck 2.0 pop-up message on your cell phone
    • Complete the fields and click next 
    • Confirm all the details and click open account
    • New account details will be SMSed to you.
       
  • What do I need to know?

    Please keep the following in mind

    • Foreign currency investment accounts are governed by South African exchange control rules and Regulations.
    • As the exchange rates fluctuate on a daily basis, the rand equivalent of the foreign currency amount deposited in the account can’t be guaranteed.
    • The account can be opened in 17 different foreign currencies. Investments in currencies other than the above will be subject to negotiation. 
    • No minimum balance is required.
    • There is no monthly account fee.
    • Interest earned on the account is based on the London Interbank Bid Rate (LIBID) for the investment currency, less a margin determined by Absa. 
    • Interest is payable in arrears, in the currency of the principal investment and can be paid on a monthly basis or can be capitalised over and above the maximum permissible limit.
    • Amounts may be withdrawn from these accounts.
    • Deposits and withdrawals by means of stop orders are not permissible.
    • A Currency Investment Account may not be overdrawn. 
    • Income earned on these accounts is taxable in South Africa. 
  • How to deposit funds into my foreign currency account?

    • Log in to your Absa Online banking profile
    • Click on the 'Payments' tab
    • Expand the 'inter-account transfers' gadget
    • Select  the transfer type as 'international'
    • In the field 'from account' select your cheque/transactional account as linked to your profile
    • In the field 'to account' select your currency investment account linked to your profile
    • Complete all the fields and follow the four-step process to fund the account.

Get in touch




Need more help?

Let one of our consultants assist you.

Call us on:

0860 151 151

International callers:

+27 (0) 11 335 4019

Email us at:

forex@absa.co.za
Contact us to find your nearest foreign exchange branch