Foreign Currency Accounts

Exporters Retention Account

This account is available to Guyanese exporters who require imported inputs/stock for production. In addition, this account is also available to exporters with external loan obligations.

These accounts must be maintained in United States or Canadian Dollars or Pounds Sterling. And prior approval must be granted from Bank of Guyana before these accounts are established.

The account's interest is calculated quarterly on the minimum balance and paid quarterly, March, June, September and December.

  • Withdrawals can be done in person or by letter of authorization
  • Cash deposits are not permitted

Interest Rate

Service Fees Guide

US$ :
3,000 – 99,999 - 0.05%
100,000 – 299,999 - 0.10%
Over 300,000 - 0.15%

Pounds Sterling:
3,000 and over - 0.80%

Interest on overdrawn balances is chargeable at a rate of 4% above the cost of funds – Minimum US$20 or equivalent, eg. CAD

Hold Statements – US$5 or equivalent eg. CAD per statement per month

 

Please visit or contact your nearest Republic Bank Branch for further details regarding our Service fees.

What you will need

Before visiting our branches, ensure you have the following documents:

Letter requesting the establishment of account
Two (2) forms of Identification (ID card, valid Driver's License or valid Passport)
Proof of Address - issued within the last 6-8 months
Proof of Income /Job Letter - issued within the last 6-8 months
TIN Certificate

In addition to the above, the relevant company documents must be presented to establish this account. Please visit or contact your nearest Republic Bank Branch for further details.


Non-Resident Foreign Currency Account

This account is available to non-residents only and is maintained in United States or Canadian Dollars or Pounds Sterling.

Individuals seeking to establish this type of account must have resided out of Guyana for a period exceeding one (1) year immediately before the establishment of the account.

The account's interest is calculated quarterly on the minimum balance and paid quarterly, March, June, September and December.

Features

  • Withdrawals can be done in person or by letter of authorization
  • Cash deposits are not permitted

Who can apply?

  • Citizens of Guyana residing permanently overseas
  • Citizens of other countries residing temporarily in Guyana
  • Citizens of other countries residing in Guyana as an employee of a diplomatic mission or international organisation
  • A company or other corporate body, incorporated and operating outside of Guyana with branches in and out of Guyana

Interest Rate

Service Fees Guide

US$ :
3,000 – 99,999 - 0.05%
100,000 – 299,999 - 0.10%
Over 300,000 - 0.15%

Pounds Sterling:

3,000 and over - 0.80%

Interest on overdrawn balances is chargeable at a rate of 4% above the cost of funds – Minimum US$20 or equivalent, eg. CAD

Hold Statements – US$5 or equivalent eg. CAD per statement per month

 

Please visit or contact your nearest Republic Bank Branch for further details regarding our Service fees.

What you will need

Before visiting our branches, ensure you have the following documents:

Individuals:
Two (2) forms of Identification (ID card, valid Driver's License or valid Passport)
Proof of Address - issued within the last 6-8 months
Proof of Income /Job Letter - issued within the last 6-8 months
TIN Certificate

Company/Corporate Body:
In addition to the above, the relevant company documents must be presented to establish this account. Please visit or contact your nearest Republic Bank Branch for further details.


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