Foreign currency can be used as a time deposit.

Personal foreign currency deposits are divided into foreign currency time deposits and foreign currency demand deposits. There are five kinds of foreign currency time deposits for customers to choose from: one month, three months, six months, one year and two years.

What is the currency in which commercial banks absorb foreign exchange deposits? Should be based on the specific circumstances of commercial banks. Generally, there are dollars, pounds, Hong Kong dollars, Japanese yen and euros. If it is other non-deposit foreign currency. Convert into the above currency at the foreign exchange rate on the deposit date as appropriate.

Personal foreign exchange deposit accounts are divided into cash accounts and cash accounts according to the form of capital deposit. Cash account refers to the account where foreign exchange remitted from abroad or foreign currency bills brought in are transferred to deposit; Cash account refers to the account that depositors bring in or hold freely convertible foreign currency cash deposits from abroad. Commercial banks may, according to the form of depositors' deposits and the requirements of depositors. Open a cash account or cash account.

The scope of use of the deposit includes:

1. Remittances from China can be imported and exported.

2. It can be converted into local currency according to the foreign exchange purchase price.

3, according to the need to withdraw foreign currency cash within the prescribed limits.

4. Traveler's checks can be purchased.