Manage your International Cash Flow
Multicurrency accounts are demand deposit accounts (DDAs) that hold foreign currency instead of U.S. dollars. PNC’s team can help you set up a multicurrency account and you can easily view deposit and withdrawal details through PINACLE®, PNC’s top-rated online corporate banking portal. You can also initiate both domestic and international wire transfers through PINACLE’s Funds Transfer module.
PNC’s multicurrency accounts offer a simple and integrated way to manage and move money denominated in different currencies without the need for opening accounts with foreign banks.
You can choose the type of multicurrency account that best suits your business.
Multicurrency account balances receive Earnings Credit (ECR) by default to help offset service fees. ECR is available in all currencies offered with no minimum balance requirement.
Multicurrency accounts can be an effective short-term solution for managing cash flow with foreign subsidiaries.
A foreign subsidiary maintains local bank accounts with a sweep service that automatically transfers excess currency balances to the parent company’s multicurrency account. This solution allows the parent organization to maintain operational control over the cash flow activities of its foreign subsidiary.
|Country||Currency Code||Currency Name|
|Czech Republic||CZK||Czech Koruna|
|United Kingdom||GBP||Pound Sterling|
|Hong Kong||HKD||Hong Kong Dollar|
|Israel||ILS||Israeli New Shekel|
|New Zealand||NZD||New Zealand Dollar|
|Saudi Arabia||SAR||Saudi Riyal|
|South Africa||ZAR||African Rand|
** Currency held in this account cannot be converted into any other currency by PNC.
Washington, D.C.: 1-877-856-6957
Please contact your Treasury Management Officer or Treasury Management Client Care (TMCC) at 1-800-669-1518 with any questions.
Foreign exchange and derivative products are obligations of PNC Bank, Member FDIC and a wholly owned subsidiary of PNC. Foreign exchange and derivative products are not bank deposits and are not FDIC insured, nor are they insured or guaranteed by PNC Bank or any of its subsidiaries or affiliates.
Bank deposit, treasury management and lending products and services are provided by PNC Bank, Member FDIC.
Earnings Credit and Interest eligibility and rate are variable and subject to change at any time without notice or limit. PNC reserves the right to charge an Account Balance Fee on certain currencies. Foreign exchange restrictions may apply.