Change to National Bank Foreign Currency Accounts

Effective 1 August 2011, Foreign Currency Account (FCAs) fees and credit interest tiers will be valued in the currency of the relevant Foreign Currency Account instead of being valued in New Zealand Dollars.

These changes will simplify our offering by valuing our fees in the relevant currency and ensuring that the same amount is charged to accounts each month. Furthermore, by valuing our credit interest tiers in foreign currency, accounts will not fluctuate between tiers due to foreign exchange movements.

Changes to fees

Effective 1 August 2011, the following fees are payable in respect to FCAs:

	Account Type
Currency	Foreign Currency Transaction Account Monthly Account Fee	Foreign Currency Investment Account Activity Fee*
USD	$4	$4
AUD	$4	$4
GBP	£3	£3
EUR	€3	€3
JPY	¥350	¥350
CAD	$4	$4

* Applies to the second and each subsequent withdrawal in a calendar month.

Changes to credit interest tiers

Effective 1 August 2011, Clause 4(c) of the Foreign Currency Account Terms and Conditions is replaced with the following:

“FCAs are subject to interest rate tiers which are quoted in the relevant currency of your FCA. Interest rate tiers applicable to FCAs may be altered at any time by the Bank.”

Effective 1 August 2011, the following credit interest tiers will be applied in respect to FCAs:

Currency	Tier 1	Tier 2	Tier 3	Tier 4	Tier 5
USD	$0	$10,000	$25,000	$75,000	$225,000
AUD	$0	$10,000	$25,000	$75,000	$230,000
GBP	£0	£5,000	£15,000	£50,000	£150,000
EUR	€0	€7,500	€20,000	€60,000	€175,000
JPY	¥0	¥850,000	¥2,500,000	¥6,500,000	¥20,000,000
CAD	$0	$10,000	$25,000	$75,000	$230,000

For more information about these changes, for enquiries about FCAs in other foreign currencies or for a copy of the updated Foreign Currency Account Terms and Conditions, call 0800 863 863 or visit any branch of The National Bank.

A copy of our disclosure statement can be obtained through any branch of The National Bank of New Zealand (part of ANZ National Bank Limited).