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Accounts
Exchange Earner's Foreign Currency Account
Reduce the cost of international trade and hedge against forex fluctuations
Facilitate international trade and hedge against foreign exchange fluctuations with the DBS Exchange Earner's Foreign Currency Account (EEFC). This non-interest bearing account is ideal for companies that receive foreign currency payments or make regular exports traded in foreign currencies. Simply park your foreign currency receivables in this account, and use them to make payments at a later date without the need to convert them to INR.
Why choose DBS Exchange Earner's Foreign Currency Account?
- Guarantee the security of your funds with a “AA-“ and “Aa1” rated bank. DBS has been named the Safest Bank in Asia by Global Finance for five consecutive years, from 2009 to 2013
- Make payments in up to nine commonly-traded global currencies without the need to convert them to INR. Accounts can be opened in AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD
- View all your EEFC accounts opened with DBS at a glance, with our combined monthly statements
FAQs
Do you offer preferential foreign exchange rates?
DBS is widely regarded as one of the best FX houses in Asia. We offer extremely competitive foreign exchange conversion rates that help reduce your operational costs.
Can foreign exchange earnings received through an international credit card be deposited to my EEFC account?
No
Are there any restrictions on withdrawal in INR of funds held in the EEFC account?
There are no restrictions on withdrawal in INR of funds held in an EEFC account. However, the amount withdrawn in INR is not eligible for any conversion to foreign currencies and cannot be added back to this account.
Are there different types of EEFC Accounts? Can I earn interest on this account?
An EEFC Account is held only in the form of a current account with chequing facility. No interest will be earned with this account.
How do I apply?
Simply visit us at any of our Branches and our Relationship Manager will be glad to assist you.
Get in Touch
DBS BusinessCare: 1800 419 9500
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