Non-Resident Foreign Currency Deposit (NFCD)

Features

All non – resident Bangladeshi nationals and persons of Bangladesh origin including those having dual nationality and ordinarily residing abroad may maintain interest bearing NFCD Account. The features of NFCD Account are as follows:

  • NFCD Account can be opened in any AD branch of the Trust Bank Ltd. for One month, Three months, Six months and One Year through US Dollar, Pound Starling, Japanese Yen and Euro. The initial minimum amount of $1000 or 500 Pound Starling or equivalent other designated currency.
     
  • NFCD Account may be maintained as long as the Account-holders desire. Eligible persons are also allowed to open such Accounts within six months of their return to Bangladesh.
     
  • Interest is paid on the balance maintain in the Account.
  • The account holder can freely repatriate the balance and the interest accrued thereon in foreign exchange to the country of his residence or anywhere he chooses and may at his option; convert the balance into local Taka at the prevailing exchange rate.

Requirements

  • All Bangladeshi nationals (Bangladeshi passport holders) who are working/living abroad can open NFCD. Foreign passport holders who are originally from Bangladesh are also eligible to open an account.
  • A minimum balance of BDT 100,000.00 should be maintained in NFCD.

    You have to execute/provide the following papers/documents to open and operate the FC, NFCD, NITA Account and purchase of WEDB/ US Dollar Premium Bond/ US Dollar Investment Bond :-

    The concern authorities are Bangladesh Embassy/ Bangladesh High Commission/ Notary public of the concerned countries/ Bank who have correspondence relationship with us, if the accountholder reside abroad.

  • Copy of employers certificate/ work permit/ I-20 to be duly attested by the concern authorities.
  • Copy of the Passport including the signature page with other relevant pages to be duly attested by the concern authorities.
  • The required documents supplied by us to be duly filled in by the account holder
  • You have to attest the photographs and signature of the nominee.
  • You have to provide two passport size photographs (duly attested).
  • Duly filled in the Application Form along with specimen signature card.

No attestation is required if a) you stay in Bangladesh at the time of opening the Account or b) you have another FC Account maintain with us.