Most individuals, who conduct regular banking transactions in foreign currencies, are in need of a foreign currency account. This removes the hassle of converting rupees to foreign currency every time a transaction needs to be conducted. Additionally, with the depreciating value of Pak rupee, many customers now maintain their savings in foreign currency. For this purpose, a foreign currency account is important to park their funds.
MCB Foreign Currency Account (FCY) is strongly recommended by MyBankersOnline to all interested individuals. Most banks require a substantial amount to be maintained as the minimum balance in foreign currency accounts. MCB has one of the lowest minimum balance requirements on foreign currency accounts: USD 500 to be maintained monthly. MCB Bank also has one of the largest branch networks in Pakistan; this facilitates customers to avail online banking facilities and access their funds from different locations as well.
Although foreign currency accounts are only used by individuals for specific requirements, MCB Foreign Currency Account is recommended by MyBankersOnline as an optimal solution for all such individuals.