Bangkok Bank Foreign Currency Account number

[Agusts]

I have been trying to open a BKK Bank (£) FCA for the last two weeks, after some 10 days they text me that it is ready, I went there the other day and they gave me a piece of paper with a hand-written 19 digits number on it. I said okay, can you look this up on the computer and make a printout and stamp it so I know this is an official information. She said no way, we can't even see FCA on our computers !!!?

 

So where did you get this number from ? She says from Bangkok head office, how, by phone !!! So I really didn't like it, if one number is wrong I have to chase for days or weeks trying to recover the money that is gone to someone else. She said once you make the first deposit they open the account and send you the book and you can probably see it online too (I have iBanking).

 

This is a really strange way of doing things, 19 digit number hand-written on a piece of paper, anyway, I went to another branch and made them to call the Bangkok head office to confirm it, just in case - it could have been her cousins number for all we know... lol

 

But in any case, how is this an account number, I thought it was an IBAN, but Thai banks only use SWIFT not IBAN... !? So is the FCA number really 19 digits long !? (My local Baht account is only 10 and I use TW to send money to it with no issue).

 

I don't know, I will use one of my UK banks to send £ to this, but I doubt their online form accept a 19 digit number as the recipient Acc. No., any ideas !?

 

 

[thedemon]

I previously had USD and EUR accounts with BBL. I just looked at the old passbook (picture below) for the USD account and it does indeed have a 19 digit account number.

 

The format is 840-XXX-001XXXXXXX-001.

 

The second block of 3 digits appears to be the branch code but I don't know what the 840 refers to. The block of 10 digits is obviously the account number.

 

Not relevant perhaps but BBL really is in the banking stone age. Many processes though computerised are still done manually as well with masses of copies and they still use the branch rather than centralised system which the other major banks gave up ages ago. Nowadays I use an HSBC account in HK. Transferring USD to KBank takes maximum 1 day and sometimes as little as 20 minutes. I recall that to withdraw USD cash from that BBL USD account they would charge 1% and I would have to give them at least 1 days notice in advance.

 

[Agusts]

Thanks for the info, now I see what the 10 digit account number is, I am amazed BBL staff didn't know this - no clue !

 

The 840 is the international currency code for USD, I have 826 at the beginning of mine, which is the code for GBP (I know this as I have come across it in the past at my work).

 

I also have the 001 at the end and at 7-9 position, so I can extract the 10 digit ignoring these other numbers (where you put xxx xxxxxxx).

 

I have a feeling the online transfer forms want this 10 digit number and not the 19 digit one that they gave me, what can I say, siiiiiigh.

 

 

 

[Agusts]

Well, I could put the 19 digits in the online transfer form after all,  so I did,  I'm guessing when money arrives at BBL they can figure it out anyway, now let's see how quickly it arrives... 

[JaiLai]

i've given the 19 digit number to employess before, no problem receiving funds, it's correct.

 

try transferring a small amount first to get a warm fuzzy feeling.

[4evermaat]

Can someone elaborate on what they required to open the FCA account?  Minimum deposit, documents, etc

 

Not just Bangkok Bank.  Any Thai bank where you were able to open a FCA.

 

Do they all charge 1% conversion fee from the foreign currency to THB?

[Agusts]

8 minutes ago, 4evermaat said:

Can someone elaborate on what they required to open the FCA account?  Minimum deposit, documents, etc

 

Not just Bangkok Bank.  Any Thai bank where you were able to open a FCA.

 

Do they all charge 1% conversion fee from the foreign currency to THB?

If you already have a baht account with them,  then just with your passport can open FCA,  otherwise the requirement is the same as opening any account here, each bank different, BBL has info on their website for opening FCA... 

 

Minimum "first" time deposit for £ is £690 for BBL (also a 0.25% fee for transfer from abroad, but max 500 baht - so not bad) , also must maintain a minimum balance of £180 in the account, if not they charge a fee of £7 (monthly I think),  that's what the guy showed me in a table, other currency and banks slightly different I guess....

 

As for conversion charge,  if you mean for withdrawing money or transfer to baht account, I'm read BBL uses their TT rate to transfer to baht account, it changes every day,  depending on the exchange rate on their site,  they don't charge any other fee or commission for that as far as I'm know.  All on their website,  a bit of work but you can find it.... 

[Agusts]

One piece of advice, don't put UK as your country or nationality on any Thai form or document, always put United Kingdom and/or British... 

 

It turns out on computer drop-down lists in Thai if you type UK it picks up Ukraine automatically...!!!?  They had put this as my country and nationality in the bank.... lol

 

[Thailand J]

BBL charges .25% to wire the money out from FCA. You can put the money in fixed deposit, make some interest to offset the .25%. It is 0.5% for GBP.

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Account-for-Non-residents

[Agusts]

34 minutes ago, Thailand J said:

BBL charges .25% to wire the money out from FCA. You can put the money in fixed deposit, make some interest to offset the .25%. It is 0.5% for GBP.

 

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Account-for-Non-residents

I thought it was 0.25% to transfer money out of FCA to abroad or some other bank,  is it also to put it in your own baht account at BBL...? Someone else on this forum said they don't charge for that, just use TT rate and put your money from your FCA in your own baht account inside BBL...! 

[Thailand J]

o.25% applies only to wire USD out of Thailand, not to baht withdrawals.

 

[Pib]

Full details of a Bangkok Bank FCD account at their website....to include fees....FAQs....etc....go to below weblink.  

https://www.bangkokbank.com/en/Personal/Save-And-Invest/Save/FCD-Account-for-Non-residents

 

And the 0.25% (Bt200 min, Bt500 max) is the "receiving" fee for an incoming international transfer. Exact same fee that applies to international transfers to a Baht account.

 

 

 

[Thailand J]

The outgoing 0.25% on USD , 0.5% on GBP can be significant without a cap.

[Pib]

Fees associated with a FCD can be significant especially if you are using it to transfer  money out of Thailand...or actually withdrawing foreign currency at the counter.  Plus there is usually minimum average monthly balance fee if you let the account balance drop below a certain level.

 

Now if using it just to convert/transfer directly to your Thai baht account there is no charge and you get the TT Buying Rate just like for an incoming transfer of foreign currency into your Thai baht account.

 

I know some people like to have a FCD so they can quickly exchange foreign currency to baht when rates are a favorable, but since rates usually change little from day-to-day and a SWIFT or Transferwise transfer can hit you account with a day or two, personally I don't really see any advantage of having a FCD for this purpose.

 

Another advantage is it's easy to transfer the funds back out if desired.

 

But a big downside is FCD's are "not" insured under Thailand account guarantee/insurance program.  Also, no debit card...also you can be limited to only using the branch that holds the FCD to do withdrawals/etc.  

 

 

[Agusts]

Does the Bangkok Bank FCD appears on their iBanking and can you transfer out to your baht account online - that would be useful...!? (all I probably every do with that account...)

 

It's correct, for transfer out it is 0.5% for GBP account (I was wrong in my previous post above), with no maximum.

 

The whole reason for using FCD is the terrible state that GBP<->Baht exchange rate is now and the Brexit causing it, and I need 800k in the bank in Thailand for the next 3 months (worst uncertain times in UK history !), even USD to Baht is not that good recently, so just hoping GBP might pick up in later years and/or generally Baht may weaken, of course the opposite could happen too...!

[Pib]

7 minutes ago, Agusts said:

Does the Bangkok Bank FCD appears on their iBanking and can you transfer out to your baht account online - that would be useful...!? (all I probably every do with that account...)

 

 

Yes.  Snapshot from the Q&As in that Bangkok Bank weblink given earlier.

[Isan Farang]

12 minutes ago, Agusts said:

Does the Bangkok Bank FCD appears on their iBanking and can you transfer out to your baht account online - that would be useful...!? (all I probably every do with that account...) 

 

It's correct, for transfer out it is 0.5% for GBP account (I was wrong in my previous post above), with no maximum.

 

The whole reason for using FCD is the terrible state that GBP<->Baht exchange rate is now and the Brexit causing it, and I need 800k in the bank in Thailand for the next 3 months (worst uncertain times in UK history !), even USD to Baht is not that good recently, so just hoping GBP might pick up in later years and/or generally Baht may weaken, of course the opposite could happen too...!

Does the Bangkok Bank FCD appears on their iBanking and can you transfer out to your baht account online - that would be useful...!? (all I probably every do with that account...)

 

I have AUD/FCD and was told nothing can be done online for FCD, this info was from the manager two weeks ago.

 

[Pib]

17 minutes ago, Isan Farang said:

Does the Bangkok Bank FCD appears on their iBanking and can you transfer out to your baht account online - that would be useful...!? (all I probably every do with that account...)

 

I have AUD/FCD and was told nothing can be done online for FCD, this info was from the manager two weeks ago.

 

 

Do you also have a "Thai baht" account with Bangkok Bank along with ibanking?  If so, log onto your Bangkok Bank ibanking and see it already showing.  If not, for a FCD you should be able to get it added by downloading/completing the form.    But if you were just trying to add another Thai baht account (if it wasn't already showing) you can do that online.  Snapshot below from my ibanking account after I clicked Add Another Account....

 

 

 

[Isan Farang]

Just now, Pib said:

Do you also have a "Thai baht" account with Bangkok Bank along with ibanking?  If so, log onto your Bangkok Bank ibanking and see if you can add the FCD (if it's not added already).  It's easy to add a new account to what your ibanking displays.    

 

If/once showing in your ibanking, then try a small transfer from the FCD to your baht account.  It's suppose to be free and you get the TT Buying Rate which is highest rate at the bank.

 

However, like the above Q&A snapshot said you can not use ibanking to transfer out of the FCD to overseas bank....need to go to the branch to do that.

 

I have a TB account and if I go online it is not possible to add the FCD.

 

When I asked at my local branch the boss called BKK and the answer was its not possible to view or make any transactions online with a FCD, everything for FCD has to be done in person.

 

Do you have a FCD with BB and have done what you mentioned ?

[Pib]

8 minutes ago, Isan Farang said:

I have a TB account and if I go online it is not possible to add the FCD.

 

When I asked at my local branch the boss called BKK and the answer was its not possible to view or make any transactions online with a FCD, everything for FCD has to be done in person.

 

Do you have a FCD with BB and have done what you mentioned ?

No, I don't have a FCD but their webpage says you can transfer online between your FCD and Baht account....and there have been not shortage of TV posts over the years saying that's exactly what they do.  Go onto their ibanking and transfer/convert from the FCD to baht account.

 

If your local branch manager had to call Bangkok for the answer I would suspect his knowledge on his subject.  You might want to followup with your branch or better yet call Bangkok Bank at 1333 and ask the question yourself....ask the question from the standpoint of what their website says and what your local branch told you.

 

Maybe there was a miscommunication....no shortage of those in Thailand.  

[Pib]

From the form to add a FCD to your ibanking.   

 

[Isan Farang]

Can any account holders who have a FCD with BB confirm they can view and perform transactions online ?

[longball53098]

I have a USD FCD account at BBL now for 5 years. I can perform any transaction I need from my PC using iBanking. The account shows up in my listing of my accounts. Only drawback is that transfers from USD to THB can only be done during weekday business hours but that is not a huge issue for me. I only make conversions every few months anyway. Another side note to having the USD account is I can use this account for my retirement extension funds. Keeping the balance over the needed amount during the 3 months before renewal immigration will accept this USD account as proof of funds in a Thai bank account. I have more than is necessary so no issues with the balance and I get some interest every 6 months too.

[Isan Farang]

33 minutes ago, longball53098 said:

I have a USD FCD account at BBL now for 5 years. I can perform any transaction I need from my PC using iBanking. The account shows up in my listing of my accounts. Only drawback is that transfers from USD to THB can only be done during weekday business hours but that is not a huge issue for me. I only make conversions every few months anyway. Another side note to having the USD account is I can use this account for my retirement extension funds. Keeping the balance over the needed amount during the 3 months before renewal immigration will accept this USD account as proof of funds in a Thai bank account. I have more than is necessary so no issues with the balance and I get some interest every 6 months too.

Thanks for the info.

I have a AUD/FCD and also a AUD Fixed Deposit Account both with BB. It may be only the AUD/FCD can operate online but not the fixed deposit.

 

Can you indicate if you also have a Fixed Deposit Account as opposed to the standard FCD and this is visible online

[longball53098]

23 hours ago, Isan Farang said:

Thanks for the info.

I have a AUD/FCD and also a AUD Fixed Deposit Account both with BB. It may be only the AUD/FCD can operate online but not the fixed deposit.

 

Can you indicate if you also have a Fixed Deposit Account as opposed to the standard FCD and this is visible online

My BBL USD FCD account is a standard account not fixed.  I do have a SCB fixed baht account and this one cannot be seen on my SCB ibanking. I have asked several times and they say no reason to show it as it is "fixed" and cannot make any transactions so why make available on the internet.

[Thailand J]

17 minutes ago, longball53098 said:

I do have a SCB fixed baht account and this one cannot be seen on my SCB ibanking. I have asked several times and they say no reason to show it as it is "fixed" and cannot make any transactions so why make available on the internet.

ha?

I can see my SCB baht fixed account and savings account online. I can transfer from savings to fixed but not the other way around.

 

[longball53098]

I never pushed the question of the SCB account any further. Its a 2 year fixed and I have no need to see the account online for adding cash to it or taking out either

[Pib]

Before when I had multiple Bangkok Bank "fixed" accounts over several years I could see them on ibanking. 

 

But never tried to withdraw or add to the fixed account via ibanking simply because I didn't want to as it was just my Bt800K money for retirement extension of stay purposes....not used for any day to day living costs.   Once a fixed account matured I just went to the branch, selected the best fixed account promotion available at the time, and then roll the matured account into the new fixed account.  

[Thailand J]

same deal as with SCB, Bangkok Bank Bualuang ibanking allows online transfer funds from savings to existing fixed account. New deposit amount is not added or  mix with existing money, it will show on a new line.

 

All my SCB accounts are added when I use " auto add" on SCB Easynet. You have an option NOT to see fixed account  on Easynet?

 

[thedemon]

On 1/24/2019 at 7:24 PM, Agusts said:

 

The whole reason for using FCD is the terrible state that GBP<->Baht exchange rate is now and the Brexit causing it, and I need 800k in the bank in Thailand for the next 3 months (worst uncertain times in UK history !), even USD to Baht is not that good recently, so just hoping GBP might pick up in later years and/or generally Baht may weaken, of course the opposite could happen too...!

 

I recall (admittedly from quite a long time ago) that if foreign currency accounts are used for that purpose, immigration apply a rather unfavourable exchange rate when calculating the minimum amount that needs to be seasoned. So a decent buffer is needed.