With a Foreign Currency Account, you make payments in the same currency as your international trading partners. This saves on conversion costs and limits the risk of exchange rate fluctuations. You decide when to convert foreign currency into euros.
Features:
First, open a Business Current Account
"}},{"componentType":"promotionalBanner","icon":{"transformBaseUrl":"https://assets.ing.com/transform/d27618f8-536e-4772-b86f-5119edab45ae/Circle-Coins-5","type":"image","width":64,"original":"https://assets.ing.com/m/7e4f399ea022700/original/Circle-Coins-5.svg","extension":"svg"},"body":"New: Currency Exchange tool\r\nWith the Currency Exchange tool, you can exchange currencies yourself quickly and cost‑effectively between your Business Account and your Foreign Currency Account.","date":{},"textLink":{"url":"/en/business/payments/international-payments/currency-exchange","text":"Try the tool"}},{"componentType":"sectionTitle","title":"What are the costs of a Foreign currency account?"},{"componentType":"paragraph","title":"Account costs","richBody":{"value":"Note: With a Foreign Currency Account, you are exposed to interest rate risk. The interest on the Foreign Currency Account can vary.
"}},{"componentType":"paragraph","title":"Method of settlement","richBody":{"value":"We debit the costs from your Foreign Currency Account once per quarter.
"}},{"componentType":"paragraph","title":"Overdraft and debit interest","richBody":{"value":"If you have a negative balance on both your Foreign Currency Account and your Business Account, you pay debit interest, even if the combined spending limit of both accounts is positive.
"}},{"componentType":"sectionTitle","title":"Deposits and incoming payments"},{"componentType":"accordion","accordionList":[{"title":"Automatically credit foreign currency to your Foreign currency account","richBody":{"value":"Incoming foreign currency payments are automatically credited to your Foreign Currency Account. If you do not want this, you can can change this preference using the amendment form. In that case, incoming payments to your Business Account will be automatically converted to euros and will not be credited to your Foreign Currency Account.
"}},{"title":"Transfer to and from your own account","richBody":{"value":"You can transfer money to your Foreign Currency Account using the Currency exchange tool. This tool enables quick and easy conversion of euros into foreign currency between your own accounts.
Please note: With a Foreign Currency Account, you are exposed to currency risk. This means that the value of the balance may increase or decrease due to changes in the exchange rate.
"}},{"title":"Change linked Business account and/or settlement instructions","richBody":{"value":"Do you already have a Foreign Currency Account and want to link it to another Business Account? Then use the form below. This form can also be used to indicate whether incoming foreign currency payments should be automatically credited to your Foreign Currency Account.
You can print, complete, and send the form to the address at the bottom of the form. No postage is required.
Please note: if you want to link your Foreign Currency Account to another Business Account, it must fall under the same Chamber of Commerce (CoC) number.
"},"textLinks":[{"url":"https://assets.ing.com/m/15bdd83597dd927a/original/Wijzigingen-gekoppelde-Vreemde-Valutarekening.pdf","text":"Amendment Form for Linked Business account and/or settlement structures"},{}]}]},{"componentType":"paragraph","richBody":{"value":"Dutch Deposit Guarantee
Your money in this account is legally protected by the Dutch Deposit Guarantee, up to €100,000. This protection applies per bank and per person. For more information, visit ing.nl/dgs.
"},"textLinks":[{"url":"https://assets.ing.com/m/33999fac71890f63/original/Voorwaarden-Vreemde-Valutarekening.pdf","text":"Terms and Conditions Foreign currency account September 2021 (PDF)"},{"url":"https://assets.ing.com/m/19002601ff446eb7/original/Renteberekeningswijze-Vreemde-Valutarekening-2023.pdf","text":"Interest calculation method for Foreign currency account"}]},{"componentType":"linkList","iconTitle":{"title":"General conditions and other regulations Business"},"textLinks":[{"url":"https://assets.ing.com/m/d90134a7ed4becea/original/ING-voorwaarden-en-overige-regelingen-zakelijk.pdf","text":"General conditions and other regulations Business (PDF)"},{"url":"/en/business/customer-service/new-terms-and-conditions-business","text":"General conditions and other regulations Business as of 1 July 2026"}]},{"componentType":"sectionTitle","title":"Questions about your Foreign Currency Account"},{"componentType":"accordion","accordionList":[{"title":"How can I access my Foreign Currency Account?","richBody":{"value":"You can find your Foreign currency account in My ING Business. Are you using InsideBusiness? Then add accounts to your subscription via a service request. You can also contact your advisor.
"}},{"title":"How can I transfer money to or from my Foreign Currency Account?","richBody":{"value":"You can transfer to your Foreign Currency Account via Currency exchange. This tool facilitates quick and easy conversion of euros into foreign currency between your own accounts.
"}},{"title":"Where can I find the balance of my Foreign Currency Account in My ING Business?","richBody":{"value":"If you use My ING Business or the Mobile Banking App, you can view the balance of your Foreign Currency Account under Overview, by selecting your account under 'Current accounts'. If you bank via InsideBusiness, you can find the balance in the overview screen showing all your account balances.. Select 'Balance' on the 'Reporting' tab.
"}},{"title":"What are the current interest rates for the Foreign Currency Account?","richBody":{"value":"Credit and debit interest rates vary by currency and are based on ING Baserates. Read more about this in the Interest Calculation for Foreign currency account.
"}},{"title":"Will the interest on the Foreign Currency Account be offset against the interest on the Business account?","richBody":{"value":"Your Foreign Currency Account is linked to your Business Account. Together, these accounts form a combined spending limit, which must not be negative. A negative balance on the Foreign Currency Account can be offset against a positive balance on the Business Account, or vice versa. However, debit and credit interest are not offset. Interest is calculated per individual account. This means you pay debit interest on a negative balance on either account, even if the combined balance of both accounts is positive.
"}},{"title":"How can I close my Foreign Currency Account?","richBody":{"value":"More information about closing your Foreign Currency Account can be found here.
"}},{"title":"How does combined spending limit work?","richBody":{"value":"Your Foreign currency account is linked to a Business account. This linkage creates a combined spending limit from the balances of your Foreign currency account and your Business account. You can use this combined spending limit on both accounts. The combined spending limit of the accounts together must not be negative, but the balance on the individual accounts can be. For example, you can maintain a negative balance on your Foreign currency account as long as you have an equivalent positive balance on your Business account.
Calculation of combined spending limit
To determine the combined spending limit, we convert the balance of the Foreign Currency Account into its equivalent value in euros. This value depends on the applicable exchange rates.
Important information for Foreign currency accounts applied for before 16-09-2024:
"}},{"title":"Are deposits guaranteed in the event of an ING bankruptcy?","richBody":{"value":"
Your money in the Foreign Currency Account is legally protected by the Dutch Deposit Guarantee , from 1 cent up to €100,000. This protection applies per bank and per person. For more information, visit ing.nl/dgs for more information.
"}},{"title":"What is Libor?","richBody":{"value":"
Libor stands for London Interbank Offered Rate. Libor is an interbank interest rate, meaning it is the rate at which banks can borrow money from each other. The Libor rate is available in five different currencies: the euro, the US dollar, the Japanese yen, the British pound sterling, and the Swiss franc.
What is an interest rate benchmark?
Interest rate benchmarks, also known as reference rates, are used by financial institutions to determine their own interest rates for loans, mortgages, or credit balances. Examples of widely used reference rates include the London Interbank Offered Rate (Libor), the Euro Overnight Index Average (Eonia), and the Euro Interbank Offered Rate (Euribor).
Why is Libor being replaced?
Global financial markets are currently moving away from the use of certain reference rates, including Libor. In the European Union, this transition is based on the EU Benchmark Regulation, a legal framework for (interest rate) benchmarks.
What does it mean for you?
The revision of an interest rate benchmark may require adjustments to an existing product. Do you have a product with a Libor benchmark? ING will inform you in a timely manner about the replacement of Libor. Therefore, you do not need to take any action yourself.
"}}]},{"componentType":"accordion"},{"componentType":"linkList","iconTitle":{"title":"More about"},"textLinks":[{"url":"/zakelijk/betalen/internationaal-betalingsverkeer/wereldbetaling","text":"World payments"},{"url":"/zakelijk/internationaal-ondernemen","text":"International Business"},{"url":"/zakelijk/internationaal-ondernemen/starten-met-import-en-export/marktverkenning","text":"Market Research"},{"url":"/zakelijk/internationaal-ondernemen/starten-met-import-en-export/eori","text":"Incoterms"}]}]}}}