Euro Deposit Account

Doing business in Europe? An IC Savings Euro Deposit Account can help you manage your cash flow, protect your business from exchange rate fluctuations, and sharpen your competitive edge.

• Buy Euros at the best rates and hold them in your account for later use
• Manage deposits from clients in Italy and other parts of Europe
• Avoid having to convert dollars frequently
• Accurately quote on products or services you source or sell overseas

Foreign Exchange Services

As part of the national Credit Union Network, IC Savings has access to the best live exchange rates on the Interbank, the world’s largest currency market. And as an IC Savings customer, you not only get to enjoy these great rates today, you can also protect your business from currency fluctuations through IC Savings Custom House forward contracts that guarantee what you will pay or receive at a future point in time.

Also known as hedging, forward contracts let you lock in a specific exchange rate today for a currency to be purchased or sold in the future. This allows you to shield your foreign transactions against market fluctuations, preserve your profit margins, and compete more effectively by quoting in local currency for an overseas project. Contact IC Savings today and ask about our Custom House forward contracts.

International Wire Transfers

Transfer funds to Europe securely and quickly with IC Savings. Our correspondent agreement with Banca Monte dei Paschi di Siena – the world’s oldest bank and one of Italy’s largest financial institutions – lets us complete wire transfers to bank accounts in Italy within one to two business days. You can transfer money directly from your IC Savings chequing or Euro Deposit Account.