Exchange Earners' Foreign Currency Account

Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer, i.e a bank dealing in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.

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Did You Know

EEFC Account

No restriction on withdrawal in rupees of funds held in an EEFC account.

International Credit Cards

Credit all Foreign exchange earnings through international credit card.

Non-Interest Accounts

A Non-interest bearing current account.