Exchange Earners Foreign Currency (EEFC) Account

Exchange Earners Foreign Currency (EEFC) Account

Retain foreign earnings Simplified international payments
Keep Your Foreign Exchange Flexible and Accessible
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  • Designed for exporters and foreign exchange earners
  • Retain 100% of your forex earnings to leverage market volatility
  • Funds can be maintained on an M+1* basis for better planning
  • Easy international transactions without conversion hassles
  • Save on conversion charges and manage currency risk effectively
  • Flexible access to funds for global business needs

 

*last forex working day of the next month

 

Note:

  • Non-interest-bearing current account
  • No minimum balance requirement
  • No cash transactions allowed
  • No Debit Card/ATM Card facility

To know more, click here.


T&C apply

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All categories of foreign exchange earners, including individuals and entities/companies who are resident in India, such as exporters, are eligible. A valid Importer-Exporter Code (IEC) may be required for exporters. However, entities in Special Economic Zones (SEZs) are not eligible to open EEFC accounts.

Eligible Customer Constitution Type to open EEFC Account:

  • Individual Resident-Regular

  • Individual Resident-Sr. Citizen

  • Public Limited Company

  • Sole Proprietorship-Individual Proprietor

  • Sole Proprietorship-HUF Proprietor

  • Sole Proprietorship-Partnership Firm

  • Sole Proprietorship-Limited Liability Partnership

  • Sole Proprietorship-Company Proprietor (Pvt. Ltd. /Ltd.)

  • Partnership Firm-Partnership Registered

  • Partnership Firm-Partnership Un-Registered

  • Limited Liability Partnership-LLP

  • HUF

  • Private Limited Company-Private Limited

  • Private Limited Company-Producer Organisation

  • Private Limited Company-One Person Company

  • Others-Joint Venture

  • Trust-Public Charitable Trust

  • Society-Society Registered

  • Society-Society Un-Registered

  • Society-Producer Organisation

  • Cen/State Govt. Dept/Agency-State/Central Govt Bodies

  • Cen/State Govt. Dept/Agency-Govt Educational Institute

  • Cen/State Govt. Dept/Agency-Government Undertaking/Public Sector Units

  • Cen/State Govt. Dept/Agency-Defence

T&C apply

  • EEFC accounts to be opened in line with bank's KYC Procedural Manual as updated from time to time.

  • Account Opening Form (AOF) for Non-Individual entities will be used for opening EEFC account. The documentation for EEFC Account Opening would be exactly same as that for Current Account Opening for the same constitution.

  • KYC documents to be in line with the constitution of the customer.

  • No cash transactions to happen in these accounts.

  • All accounts to be opened in line with bank's KYC Procedural Manual as updated from time to time.

  • Additional KYC Documents:

    • Board resolution in case of company / Account opening letter for other entities - should mention the Foreign Currency in which the account needs to be opened.

    • Importer Exporter Code Certificate (IEC) is required to be obtained if applicable

     

    T&C apply

Managing and growing your business can be done conveniently

Apply for Exchange Earners Foreign Currency (EEFC) Account from Bandhan Bank today

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