Key features
- Foreign currency term investments are for a fixed period of time, ranging from 30 to 180 days at a fixed rate of interest (where applicable)
- In special circumstances you can withdraw part or all of your investment before the fixed term ends, subject to Westpac’s approval. A reduced rate of interest will apply.
Available currencies and minimum investment amounts
You can hold a foreign term investment for any period from 30 to 180 days, in any of these major currencies:
| Foreign Currency Term Investments - Minimum investments | |
| You can hold a foreign curency term investment for any period from 30 to 180 days, in any of these major currencies. | |
| Currency | Minimum amount |
|---|---|
| Australian dollar | AUD 8,000 |
| Canadian dollar | CAD 8,000 |
| Euro currency | EUR 5,000 |
| British pound | GBP 4,000 |
| US dollar | USD 5,000 |
For other major currencies please call us on 0800 177 188 or contact a Business Manager
How interest is calculated
- interest for term investments is calculated on the market rate at the time of investment
- whether or not you receive interest depends on the market interest rate at the time of investment
- interest is paid on maturity in the currency in which the investment is held
Options at investment maturity
When your investment reaches the term, you have a few options:
- have the investment and interest automatically reinvested in the same currency or a different one
- credit the money to your foreign currency account
- convert the money back to New Zealand dollars
Important note
Unless we are instructed otherwise, the term investment will be automatically renewed on maturity for the same term as the original deposit and at the interest rate paid by the bank at the time of reinvestment.
When required by law, Resident or Non-Resident Withholding Tax is automatically deducted from the interest paid into your foreign currency account.
If you qualify as a non-resident then you can elect for the Approved Issuer Levy to be deducted instead.
Investment Statement for Foreign Currency Term Investments (December 2012)
> View our latest Investment Statement for Foreign Currency Term Investments (December 2012)
You can hold a foreign term investment for any period from 30 to 180 days, in any of these major currencies:
| Foreign Currency Term Investments - Minimum investments | |
| You can hold a foreign curency term investment for any period from 30 to 180 days, in any of these major currencies. | |
| Currency | Minimum amount |
|---|---|
| Australian dollar | AUD 8,000 |
| Canadian dollar | CAD 8,000 |
| Euro currency | EUR 5,000 |
| British pound | GBP 4,000 |
| US dollar | USD 5,000 |
For other major currencies please call us on 0800 177 188 or contact a Business Manager
Westpac accepts no liability for losses suffered as a result of it converting currencies and any exchange risks from the conversion of currencies is the responsibility of the investment holder. You can get a copy of the current disclosure statement for Westpac New Zealand Limited and a copy of the investment statement for foreign currency term investments from any Westpac branch in New Zealand free of charge.
The information on this page and terms, conditions and pricing for Foreign Currency Accounts may very from time to time. It is subkect to change without notification.