Overview
The Swap Deposit is to get a relatively higher return, using arbitrage, on the interest spread between different currencies. Through the foreign exchange swap, our customers can earn more interest than that of a normal bank deposit, without taking any exchange rate or fund loss risks. The Swap Deposit is subject to a minimum amount of USD200,000 (or other currencies in the equivalent amount) and a tenor of less than one year.
Features
It is suitable for the risk-averse customers who own short, fixed term funds.
Procedures
1. The customer accepts our wealth management solution and submits the completed Authorization Form for Foreign Exchange Wealth Management by nature of business.
2. The customer signs the Customer Transaction Confirmation in duplicate, one for the customer and the other for the handling outlet of ABC. The fax copy should be retained both by the tier-1 branch and the Head Office of ABC.
3. The customer deposits, with the handling outlet of ABC, an amount sufficient to cover the transaction.