Currency Conversion

ABN AMRO shows you an indicative bid and ask rate that corresponds to the transaction details you provide, such as the currency pair and the amount. Based on this information you can request a tradable price. We will hold this exchange rate for you for a few seconds. After accepting the rate, the Currency Conversion transaction is completed and the amounts will be credited and debited to your accounts.

ABN AMRO calculates a margin, which can be a price premium or discount on the bid and ask rate (the buy and sell price of the currency). This is a percentage premium or discount on the interbank rate, i.e. the exchange rate that banks charge each other. In addition, when determining the price premium or discount, the price risk – given the relevant market conditions and the direct and indirect costs of risk – are taken into account.

The maximum amount you can convert per Currency Conversion transaction is €5,000,000 or, for a Currency Conversion transaction between two foreign currencies, an amount equal to €5,000,000.

The Currency Conversion transaction always takes place on the same day (value date today) and the transfer will appear in your credit and debit statements immediately, unless it is not a trading day in the chosen currency pair, because it is a bank holiday for example.

No, Currency Conversion is only available through Internet Banking Business.

All business clients who have a Foreign Currency Account and are authorised to make payments from this account can carry out Currency Conversion transactions. Business clients who can only view the Foreign Currency Account cannot perform Currency Conversion transactions.

• How to give an employee access to Internet Banking Business
• How to manage employee permissions in Internet Banking Business

If you cannot see a particular Foreign Currency Account, it means you as a user are not authorised to perform transactions for this account. The account holder and/or general authorised representative of your company can give you the correct access via  Internet Banking Business .

• You do not pay international transfer fees when you convert money via Currency Conversion.
• With Currency Conversion you convert at the current exchange rate, whereas with an international transfer you exchange against the day rate.

Yes, you can carry out Currency Conversion transactions for money moving between different entities as long as the accounts are registered within the same group and you are authorised to carry out transactions from these entities.