FCDA is a foreign currency account opened and maintained by local exporters and those entirely or partially funded from external sources e.g. diplomatic, international and non-governmental organizations. Malawians living abroad are also allowed to open such accounts.
Malawians living abroad who would like to open foreign currency accounts but have no Malawi Kwacha accounts with us need to appoint attorneys who might be relations or friends to help with formalities of opening accounts on their behalf.

We offer time deposits in foreign currency to our clients. Customers only need to apply to Treasury and Financial Institutions Division to open time deposit accounts.

• Customers who maintain such accounts are protected from exchange rate fluctuations if they make their payments in the same currency of the account they are maintaining.
• Customers can maintain the balances in the account as long as they wish
• Account balances for FCDAs earn interest
• Interest is negotiable.

• Clients apply for such an account through their respective service centres.
• Upon requirement satisfaction, the service centre recommends the client to the Treasury and Financial Institutions Division of Head Office who opens the foreign currency account.
• The operation of this account is subject to Reserve Bank of Malawi regulations, which are issued from time to time.
• There is no minimum balance requirement for such accounts.