Title of the Account:

Resident Foreign Currency Deposit Account

Source of deposit to account:

• Foreign exchange brought in at the time of their return from travel abroad;
• Amount up to USD 10,000 or equivalent can be deposited any time after return to Bangladesh;
• Amount exceeding USD 10,000 or equivalent with declaration to Customs Authorities in form FMJ (Foreign Money and Jewellery) within one month of return from abroad;

Facilities/ Privileges for Customer:

Balances in deposit accounts can be utilized for the following purposes:

• Balances in these accounts shall be freely transferable abroad. Remittances can be effected on current transactions for dependents of account-holders, in addition to transactions including but without limiting to cost of travel, education for children, treatment, etc. for account-holders.
• Fund from these accounts may also be issued to account-holders for the purpose of their foreign travels in the usual manner:
  
  • with endorsement in passport and ticket, up to USD 5000 (five thousand) in the form of cash currency notes and
  • the remainder in the form of TC, International Card & or other currencies
• ADs may issue International Card (debit/credit/prepaid) favouring the account holder and maximum 2(two) supplementary cards to dependents of account-holders against the balance held in the RFCD account.
• The balances held in the accounts are freely encashable in Taka as and when necessary.

Eligibility:

• Any Bangladeshi ordinarily resident in Bangladesh;
• Age: 18 years +

Currency of the A/Cs:

• RFCD accounts may be opened in USD, EUR & GBP.

Required documents for opening A/Cs:

• Account Opening Form to be duly filled in and signed by applicant.
• Photocopy of valid NID/ Passport / Driving License.
• Two copies passport size photographs of Applicant- self attested;
• One copy of photograph and copy of NID of Nominee (attested by the Applicant)
• Proof of travel abroad;
• Written declaration – fund not related to export or business deal.
• Form FMJ – if amount above USD 10,000;

Profit:

• The profit will be payable on the deposits maintained for minimum one month at mark-up of 1.50 percent over benchmark rate of respective currencies; Profit in foreign exchange shall be payable if the balance is not less than USD 1,000 (one thousand) or Pound Sterling 500 (five hundred) or its equivalent.