Where to now? The checklist

Investors (and borrowers) with cross-border commitments must first identify actual or potential foreign currency exposures.

• Do you have foreign investments (or loans)?

• Do you have foreign exchange income (or expenses)?

If you answer yes to either of these questions, then you probably need a foreign exchange bank account for the non-local currencies that you will pay in or receive.

• Do you have a foreign exchange bank account?

• Where do you want that account to be?

• You may need a foreign currency credit or debit card as well. Have you considered this?

• Do you intend to live, work, invest, retire or study outside your normal country of residence?

• Do you care about the risks and opportunities of foreign exchange rate movements?