FOREIGN CURRENCY SWAP

I. Description

This product is a swap of foreign currency balance on customer’s savings book or current account to another foreign currency, due to their usage need.

II. Participant

• Individual customers with savings deposit or demand deposit in foreign currency.
• Corporate customers with demand deposit in foreign currency.

III. Features and prominent benefits

• This product is designed to serve customer’s need to swap foreign currencies for keeping, transferring purposes, or for preventing risk concerning exchange rate.
• Swap is made with all foreign currencies dealt by SCB currently: EUR, GBP, AUD, CAD, SGD, JPY, CHF and USD.
• Swap Amount: full or partial balance of savings / demand account can be made. There is no limits for total number of swaps, amount swapped or kinds of currencies (provided that SCB deals with these currencies).
• The new balance in the swapped foreign currency’s account will have interest as per regulations by SCB.
• In case customer wants to withdraw cash: SCB will pay customer in original foreign currency or VND equivalent with current exchange rate. However, at the time of withdrawal, if the swapped foreign currency (the currency kept by customer after the swap deal) is available, SCB can arrange to pay customer by that currency.
• All swap transactions are free of charge.
• Swap exchange rates follow those in FX international market (subject to the volume of transactions).

IV. Procedure

• Customer contacts SCB transaction offices for swap exchange rate at the moment.
• Submitting ID card, foreign currency savings book to enter the deal.
• Complete Swap Application Form (SCB form).
• When exchange rate has been confirmed by SCB officer in SCB branch/transaction office, the swap deal is deemed to come into being, that can not be rejected.

Contact

For further information, please contact any of our branches / transaction offices, or our Customer Service Centre, phone: (08) 39202222.