PRESTIA MultiMoney Foreign Currency Savings Deposit

PRESTIA MultiMoney Foreign Currency Savings Deposit Information Memorandum and Pre-Contract DocumentLink to PDF document

Brief Description of Product

10 types of currency available.

Useful for pooling your assets.

Applicable currencies USD, AUD, NZD, GBP, CAD, CHF, EUR, HKD, NOK and ZAR (Please note that there are cases where some currencies may not be offered due to the country's regulations and / or market conditions.)
Term availability

No fixed deposit term.

 

Deposit amount The second decimal place of one unit of the deposited foreign currency or above.
(The minimum amount required for the initial deposit is 10,000 yen equivalent. However, there is no minimum deposit amount required if said funds are transferred from another PRESTIA MultiMoney Account deposit.)
Withdrawals Possible at any time.
Interest - Applicable rates Applicable interest rate will be changed according to market conditions without notice at any time and the new rate will be applied from the day on which the applicable rate is changed.
For the latest rates, please inquire at our branches or PRESTIA Phone Banking .
Interest payment method Interest is calculated daily and added to the deposited principal every day.
Transaction Channels and Contact Number Branches and mini branches of SMBC Trust Bank Ltd. that are set up to handle said transactions. Certain branches and mini branches do not handle cash or check transactions. Certain transactions may not be available via PRESTIA Online, PRESTIA Mobile and PRESTIA Phone Banking. For details, please inquire at our branches, mini branches, or via PRESTIA Phone Banking (Domestic (toll-free): 0120-110-330; From overseas (toll-charged): 81-45-330-2880).

PRESTIA MultiMoney Foreign Currency Savings Deposit Information Memorandum and Pre-Contract DocumentLink to PDF document

Risk of loss of principal

There is no risk of a loss of principal in the deposited foreign currency, but the Yen-equivalent value of the deposited foreign currency amount may rise and fall due to FX fluctuations (foreign currency risk). The rate at which yen is converted into foreign currency (TTS rate) and vice-versa (TTB rate) each includes a foreign exchange commission set by SMBC Trust Bank. As a result, the amount in yen, including interest, that you receive may be smaller than the amount in yen at the time of deposit, resulting in a loss of principal, unless the yen depreciates against the foreign currency by a margin that exceeds the foreign exchange commission, and not only in the case that the yen appreciates against the foreign currency.

Commissions

  • Foreign exchange commission: The exchange rate at which yen is converted into foreign currency (TTS rate) and vice-versa (TTB rate) includes a foreign exchange commission set by SMBC Trust Bank. (For US dollars, the foreign exchange commission is 1 yen per dollar when converting one way (i.e., from yen to dollar or dollar to yen) and 2 yen per dollar if converting into and subsequently out of yen or dollar.)
  • Foreign currency cash handling charge: A foreign currency cash handling is charged on each deposit or withdrawal of cash in a foreign currency (2 yen per US dollar, and 3 yen per Euro).
  • Because other commissions for fund transfer etc. differ according to conditions in transactions, we can't show information about them beforehand.
  • Please inquire at a branch or via PRESTIA Phone Banking or see the Service Fee List for more information about each commission.

Other considerations

  • Foreign Currency Deposits are not covered by any deposit insurance.
  • Transactions in currencies of emerging countries are riskier than those of developed countries.
  • In principle, interest is subject to a 20.315% withholding tax (National tax 15.315% and Local tax 5%) for individual customers. Foreign exchange gains are treated as miscellaneous income under the Japanese tax laws. Comprehensive income taxation applies to corporate customers. The tax rate etc. may change in the future due to reasons such as revision of tax laws.
  • Interest and exchange rates change according to market conditions. Please be sure to contact an SMBC Trust Bank branch or access PRESTIA Online etc. for the most up-to-date information.
  • Please read "Information Memorandum and Pre-Contract Document" carefully and make sure you have full understanding of the product before making a transaction. To obtain this document, inquire at a branch or via PRESTIA Phone Banking. This document is also available at PRESTIA Online (excluding certain products).
  • Customers performing foreign currency deposit transactions for the first time (including receiving the funds in foreign currency by fund transfer) will be required to conclude a PRESTIA MultiMoney Foreign Currency Savings Deposit Contract. (If a customer who has not concluded a PRESTIA MultiMoney Foreign Currency Savings Deposit Contract receives funds in a foreign currency, the funds will be converted to yen at SMBC Trust Bank's specified exchange rate, before being deposited in their account.) Applications can be submitted via PRESTIA Online, at branches and mini branches or by mail. The application process will take a few business days to conclude the contract.

    Company Name: SMBC Trust Bank Ltd.

  • At SMBC Trust Bank PRESTIA, we use profiling (a series of questions related to asset management) to understand the amount of risk you are able to accept. The answers received in profiling, and the risk acceptable to the customer, are expressed numerically as a "customer risk tolerance (risk score)".
    Please be aware that investment in a product is not possible if the customer risk score is below the product risk level.
  • SMBC Trust Bank PRESTIA, charges a monthly account maintenance fee of 2,000 yen (excluding tax) to your account on the first business day of each month. Please note, however, that no such fee will be charged for the month in question if your Total Average Monthly Relationship Balance or other conditions satisfy specific requirements.
  • Products and services featured here may not be purchasable or able to be provided to customers for various reasons determined by SMBC Trust Bank. We kindly request your understanding in advance.
Applications
Account Holders

Applications are accepted using the following methods:

  • *Depending on the transaction channel, some transactions / services may not be accepted. For more information, call PRESTIA Phone Banking .
  • *You must go through the user registration process before using PRESTIA Online.
Internet

Apply using PRESTIA Online

PRESTIA Online
Mobile Phone

Apply using PRESTIA Mobile

PRESTIA Mobile
  • *Please note that a PRESTIA MultiMoney Foreign Currency Savings Deposit Contract required to perform foreign currency deposit transactions can not be concluded on PRESTIA Mobile.
Telephone

Contact PRESTIA Phone Banking   0120-110-330 (toll-free, open 24 hours a day, 365 days a year)

Branch

Apply at a Branch

Find a branch
Non Account Holders
Branch

Apply at a Branch

Find a branch
Telephone

Contact PRESTIA Phone Banking   0120-50-4189 (toll-free) From overseas, call 81-45-330-2881(toll-charge)

Internet Banking
Internet
PRESTIA Online
Mobile Phone
PRESTIA Mobile