Any recent experiences of forex deposit accounts?

[KittenKong]

Just wondering if anyone has any recent experiences of opening a non-resident forex deposit account (FCD) with any Thai bank?

I know that the rules for regular THB accounts have been tightened up recently, but a friend who doesn't live here and who only visits from time to time on 30-day waivers is thinking of opening a Euro FCD and wants to know if it will be difficult without a long visa or work permit. Most banks' websites suggest that there are no particularly difficult requirements, but personal experience may say otherwise. The money will be wired in from Europe in the normal way and there is nothing dodgy about it: it just has to leave the EU to complete the winding down of a business there. He already has a THB savings account with K-Bank of several years standing but little activity.

As these FCD accounts tend to be run by the bank's head office rather than the local branch, I suspect that the choice of individual branch approached will be less important than it can be with resident THB accounts, but the choice of the right bank could make life easier for him.

[cnx355]

A Canadian friend of mine opened a USD FCD account 3 years ago at Bank of Ayudhya  ( known as Krungsri ) and there were no special requirement except minimum deposit of 500 USD and passport.

 

But. to open a regular saving account in THB it was more difficult as he   had   a tourist visa.  He needed a 1 year contrat for his  apartment. and passport confirmation letter from the Canadian consulate.  It took some time but in he end he got it.

 

 

[buick]

i opened one (USD) in feb 2016 at bangkok bank's main office on silom road with the same docs in the post above (SETV, lease, letter from embassy that passport is real).  you go up to the second floor for the FCD accounts.  escalator right in front of you as you enter the door.  given it is probably harder now than when i did it, i'd guess opening one with a visa exempt entry and no lease agreement would be tough.  but can't hurt to try.  there is usually a lady sitting at a desk just to the right as you get off the escalator, a floor manager type.  can ask her about it before taking a number to wait for the rep that would open the account.

Edited June 27, 2018 by buick

[KittenKong]

Thanks for those replies.

I expect that opening an FCD will still be relatively painless and will report back if my friend ever gets round to doing it.

[KittenKong]

In the end this was fairly easy once the right bank and branch was picked.

 

Kasikorn in Central didnt want to know unless the account holder had a work permit.

 

Bangkok Bank said no, though subsequently a visa agent said "give them my business card and they will open one". That came too late though.

 

Krungsri in Central Festival (Pattaya) also just said no. But another local branch of Krungrsi were happy to open an FCD account. They also provided an FCD debit card, which unfortunately can only be used in Thailand. They also opened a THB passbook account with international Visa debit card, all without any real difficulty by Thai standards. Both accounts can be managed via their online banking, and it all seems to work well.