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1. What is FX Global?
FX Global is an FCDU account opening facility designed to assist RCBC online retail clients in opening an FCDU settlement account exclusively for online foreign exchange transactions.
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2. What currencies are available for opening an FX Global account?
Enrolled RCBC clients can open FX Global accounts in the following currencies: USD, GBP, EUR, JPY, HKD, and SGD.
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3. How much is the initial deposit and maintaining balance required to open and maintain an FX Global account?
Clients can open an FX Global account online with no initial deposit and maintain it with a zero balance while keeping the account active.
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4. Can I make a deposit to my FX Global account?
No, the FX Global FCDU account is exclusively for the settlement of foreign exchange transactions. Currencies purchased online will be credited to the FX Global account. Account holders are not allowed to make over-the-counter deposits into this account.
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5. Can I make an over-the-counter withdrawal from my FX Global account?
Yes, clients can make an over-the-counter withdrawal to receive the proceeds of their foreign exchange transactions.
• For travel purposes, clients must select their preferred branch for the withdrawal. The proceeds will be available two (2) banking days after the transaction and must be withdrawn within five (5) banking days thereafter.
• For investments in a 90-day US Time Deposit, you may redeem or withdraw the proceeds upon maturity at the branch where your client record was originally created. -
6. Can I use the FX Global account to send and receive remittances?
No, the FX Global FCDU account is exclusively for the settlement of foreign exchange transactions. It cannot be used to send or receive remittances.
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7. Can I use the FX Global account for purposes other than foreign exchange transactions?
No, the FX Global account is strictly for the settlement of foreign exchange transactions and cannot be used for any other purposes.
