A foreign currency account is ideal if you have regular incoming and outgoing payments in one or more foreign currencies. With such an account, your company can operate as a company trading in local currency. In addition, you can:
The sub-account linked to your business account is free.
However, you do pay the costs of an international transfer. These costs consist of the following components:
How the ING payment commission and correspondent bank costs are applied depends on the charge instruction given (BEN, SHA or OUR). The details and charging method can be found in our our pricing list.
"}},{"componentType":"sectionTitle","title":"How do you open a foreign currency account?"},{"componentType":"applicationProcess","body":"When you open a foreign currency account, you are actually opening a sub-account of your professional current account at ING.","steps":{"stepList":[{"title":"Transfer money or receive money in a different currency","body":"Do this from your ING professional current account."},{"title":"Your foreign currency account is automatically opened","body":"... as a sub-account of your professional current account. This always has the same IBAN account number as your main account."},{"title":"Conduct international business","body":"Your company can now operate everywhere as a company trading in local currency."}]}},{"componentType":"cta","textLink":{"url":"/en/business/payments/open-a-professional-account","text":"Open a business account"}},{"componentType":"sectionTitle","title":"Frequently asked questions"},{"componentType":"accordion","accordionList":[{"title":"In which 28 currencies can I open a sub-account?","richBody":{"value":"AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, INR, JPY, KWD, MAD, MXN, NOK, NZD, PLN, RON, SAR, SEK, SGD, THB, TRY, USD, ZAR.
You can’t open a sub-account for CNY. For this, you need to open a separate CNY account. Please get in touch with your ING contact person for this.
"}},{"title":"Where do I manage my foreign currency account?","richBody":{"value":"You can manage it very easily via the overview screen in Business’Bank or the ING app.
"}},{"title":"Where can I find the balance of my foreign currency account?","richBody":{"value":"Do you use Business’Bank or the ING app? Then you can find the balance of your foreign currency account on your overview screen that shows the balances of all your accounts.
"}},{"title":"How do you transfer money to and from your own foreign currency account?","richBody":{"value":"Do you have foreign currency in one of your accounts and want to use that money? Exchange it by transferring the amount you need to another account you have. This is quick and easy thanks to our currency conversion tool.
"}},{"title":"Do I get interest on my foreign currency account?","richBody":{"value":"No, we do not apply interest on current accounts and their sub-accounts, regardless of currency.
"}},{"title":"How do I close a foreign currency account?","richBody":{"value":"Do you no longer need your foreign currency account? If so, you can easily close it via the ‘Services’ menu in the ING app or via Business’Bank.
"}},{"title":"Is my foreign currency account protected by the deposit protection scheme?","richBody":{"value":"With Belgian banks, your money, in all your current accounts, savings accounts, term accounts and savings bonds combined, is guaranteed up to 100,000 euros per bank and per person (not per account). Assets held in the context of an independent professional activity are also protected. Read more here.
"}}]}]},"complementaryZone":{"flexComponents":[{"componentType":"sectionTitle","title":"Also interesting!"},{"componentType":"cards","cards":[{"componentType":"productCard","cardType":"product","cardSize":"medium","title":"Worldwide cash management","intro":"Via ISABEL 6, the multibank platform","image":{"transformBaseUrl":"https://assets.ing.com/transform/2c6b5418-afb7-435f-9537-bd0214a7209f/International-network-communication-world-scene","type":"image","width":1200,"original":"https://assets.ing.com/m/739b40018411a321/original/International-network-communication-world-scene.svg","extension":"svg"},"link":{"url":"/en/business/payments/how-to-manage-accounts-with-different-banks-via-isabel"}}]}]}}}