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| If you're an importer or exporter, take advantage of changes in the exchange rate by holding money in a foreign currency term investment - and earn interest on your money. |
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Investment terms range from 7 to 180 days. |
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Foreign currency term investments are for a fixed term at a fixed rate of interest. |
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US dollar |
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USD 5000 |
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British pound |
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GBP 4000 |
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Australian dollar |
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AUD 8000 |
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Canadian dollar |
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CAD 8000 |
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Euro currency |
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EUR 5000 |
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Hong Kong dollar |
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HKD 40,000 |
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Japanese yen |
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JPY 1,000,000 |
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Singapore dollar |
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SGD 12,000 |
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Swiss franc |
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CHF 10,000 |
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| Interest is calculated on the market rate at the time of investment, and is paid on maturity in the currency in which the investment is held. |
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There are a number of ways you can receive your investment and interest on maturity.
You can... |
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have the money automatically reinvested, either in the same currency or a different one, |
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have the money credited to an on-call foreign currency account, or |
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convert the money back to New Zealand dollars. |
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| When required by law, Resident or non-Resident Withholding tax is automatically deducted from the interest paid on your foreign currency account. If you qualify as a non-resident, you can elect for the Approved Issuer Levy to be deducted instead. |
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| You can withdraw part or all of your investment only in special circumstances (subject to Westpac approval). A reduced rate of interest will apply to the withdrawn amount. |
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