A foreign currency transaction account available in 8 major currencies.

A foreign currency transaction account available in 8 major currencies.

We offer Foreign Currency accounts in 8 major currencies:

·         US Dollars ·         Swiss Franc
·         Great Britain Pounds ·         Canadian Dollars
·         Euros ·         Japanese Yen
·         Australian Dollars ·         South African Rand

Key Account Features and Benefits

  • Account opening and minimum balance to be maintained USD/EUR/GBP 100 or equivalent in other currencies.
  • Nil account maintenance charges
  • No transaction ledger fees.
  • Free quarterly account statement via email (or at your preferred frequency).
  • I&M USD Visa Debit card available for USD accounts only- subject to signing mandate.
  • The following features are available to USD/EUR/GBP accounts only.
    • Interest payment – accrued on daily balances and paid quarterly as per prevailing rates (see table below).
    • Cheque book available at USD 0.2 per leaf
    • Cash transactions ( cash deposit fee apply as per tariff)
  • Access to Electronic Banking Channels ( Mobile and Internet Banking)
  • Earn IMBA Reward Points every time you transact.
  • Chinese Yuan and UAE Dirham accounts also available (contact us for details)

Interest Rates
Interest rates (% p.a.) for USD/EUR/GBP accounts.

Daily balance USD GBP EUR
0 – 5,000
5,000 – 25,000 0.25 0.25 0.25
25,000 – 100,000 0.75 0.75 0.50
> 100,000 1.00 1.25 0.75

 What do I need to open this account?

  • An introduction letter from an I&M account holder or your employers or bankers or a professional of repute (lawyer/ accountant)
  • Copy of your ID/passport
  • Recent colour passport photograph
  • Copy of work permit (if applicable)
  • Copy of KRA PIN card

For information on interest rates, visit the Interest Rates page. Also visit the Tariffs page and the Terms & Conditions page for more details.

Interested in Sapphire Foreign Currency?
If you need any help or information, please complete the form below so that we can quickly get back to you.
I am interested in the product and would like one of your representatives to contact me.
I want some clarification as below

Account Features
Minimum opening balance 100
Ledger fees for credit balance accounts No
per month Maintenance Fees No
Accrued on daily balances and payable quarterly as per prevailing rates Interest
per leaf for Cheque Book $0.2