Multicurrency Accounts for Companies

Manage Foreign Currency Cash Flows

Efficiently Make & Receive
Business Payments In Foreign Currencies

Multicurrency accounts are demand deposit accounts (DDAs) that are domiciled in the United States and hold foreign currency instead of U.S. dollars so your business can make and receive payments in 30 major and emerging market currencies without the need to open accounts with foreign banks.

Benefits of Multicurrency Accounts

Our multicurrency accounts offer a simple and integrated way to manage and move money denominated in different currencies, so you can:

  • Eliminate the need to convert foreign currency collections and payments to U.S. dollars.
  • Reduce the risk of potential losses and rate spread due to timing differences between incoming and outgoing foreign currency flows.
  • Easily view deposit and withdrawal details through PINACLE.®
  • Initiate wire transfer requests through PINACLE.
  • Enjoy FDIC insurance on multicurrency deposits up the maximum limits provided by law.
  • Process foreign denominated checks for credit to your multicurrency account.

Multicurrency Account Options

Your business can choose the multicurrency account that best meets your needs.

  • Receive Earnings Credit (ECR) to help offset service fees. ECR is available in all currencies offered with no minimum balance requirement. [1]
  • For select currencies, interest-bearing multicurrency accounts are available. (Minimum $100,000 USD equivalent balances for interest-bearing accounts.)

Available Currencies

Global business transactions often require you to make
and receive payments in currency other than U.S. dollars.

Country

Currency Code

Currency Name

UAE AED Dirham
Australia AUD Australian Dollar
Canada CAD Canadian Dollar
Switzerland CHF Swiss Franc
China CNY Renminbi
Czech Republic CZK Czech Koruna
Denmark DKK Danish Krone
Europe EUR Euro
United Kingdom GBP Pound Sterling
Hong Kong HKD Hong Kong Dollar
Croatia HRK Croatian Kuna
Hungary HUF Hungarian Forint
India** INR** Indian Rupee**
Israel ILS Israeli New Shekel
Japan JPY Japanese Yen
Morocco MAD Moroccan Dirham
Mexico MXN Mexican Peso
Norway NOK Norwegian Krone
New Zealand NZD New Zealand Dollar
Oman OMR Omani Rial
Philippines** PHP** Philippine Peso**
Poland PLN Polish Zloty
Qatar QAR Qatar Riyal
Romania RON Romanian Leu
Saudi Arabia SAR Saudi Riyal
Sweden SEK Swedish Krona
Singapore SGD Singapore Dollar
Thailand THB Thai Baht
Turkey TRY Turkish Lira
South Africa ZAR African Rand

** Currency held in this account cannot be converted into any other currency by PNC.

Additional Account Services

Map of the EU

Manage European Payments

Improve your European commercial payments with EUR or GBP-denominated demand deposit accounts.

PINACLE

Foreign Exchange Risk Management

PINACLE, PNC’s top-rated corporate online and mobile banking portal, can help you streamline your international cash flow management. With a single sign-on, you can initiate payments, access account reporting and view USD-equivalent balances for foreign currency accounts. You can also initiate funds transfer requests for accounts held at foreign banks, manage your foreign exchange transactions and access international trade services to reduce payment and collection risks.

Let's Talk

Please contact your Treasury Management Officer or
Treasury Management Client Care (TMCC) with any questions.