Dollar Account In Thailand

[rocky3]

Can I have a dollar account in a bank in Thailand? This would enable me to transfer dollars into Thailand and then exchange dollars to Baht when the rates a favorable.

[JacknDanny]

Can I have a dollar account in a bank in Thailand? This would enable me to transfer dollars into Thailand and then exchange dollars to Baht when the rates a favorable.

Bangkok Bank on Silom, the main branch, allows you to do this

[undercover]

The Bangkok bank have a pound sterling account so I should think they do a Dollar account too, only the bank in the capital will do it, Bangkok bank Pattaya tell you that you must go to Bangkok to open the account.

[BKK03]

The Bangkok bank have a pound sterling account so I should think they do a Dollar account too, only the bank in the capital will do it, Bangkok bank Pattaya tell you that you must go to Bangkok to open the account.

Are there any fees for establishing a Dollar account? Is there an interest charge?

[thedivezone]

The Bangkok bank have a pound sterling account so I should think they do a Dollar account too, only the bank in the capital will do it, Bangkok bank Pattaya tell you that you must go to Bangkok to open the account.

Are there any fees for establishing a Dollar account? Is there an interest charge?

I looked into it a couple of years ago and the fees are quite hefty, withdrawals, deposits,

everything is being charged. There is a interest of two and a bit %/

Go to the second floor of the Bangkok Bank Sukhumvit branch (betw. Soi 8 and 10), they'll have a sheet with all the charges on it.

Mike

[RubbaJohnny]

Keep us posted esp re thefees

[churchill]

The Bangkok bank have a pound sterling account so I should think they do a Dollar account too, only the bank in the capital will do it, Bangkok bank Pattaya tell you that you must go to Bangkok to open the account.

I opened a sterling account at Bangkok Bank , Koh Samui - All the paperwork had to be sent to Bangkok (takes about a week ) - So I see no reason why the branch in Pattaya could not do the same .

[rott]

Can you open the account with a tourist visa?

[aurelius]

Yes, can open with a tourist visa; also at Pattaya branch.

This is a link to the interest rates:

http://www.bangkokbank.com/Bangkok+Bank/We...s/FCD+Rates.htm

Info about the accounts & fees:

http://www.bangkokbank.com/Bangkok+Bank/Pe...+Accounts.htm#1

[12DrinkMore]

An alternative is the Siam Commercial bank, where I find the staff more attractive than the Bangkok Bank.

http://www.scb.co.th/en/pnb/pnb_dps_fcd.shtml

Says you can open an account at any branch in Thailand, and suitable for tourists! I wonder if they will open one with just a 30 day VOA ticket?

[TheGhostWithin]

An alternative is the Siam Commercial bank, where I find the staff more attractive than the Bangkok Bank.

http://www.scb.co.th...b_dps_fcd.shtml

Says you can open an account at any branch in Thailand, and suitable for tourists! I wonder if they will open one with just a 30 day VOA ticket?

Hi there,

Do yo know what the fees/rates are for deposits and withdrawls? I cant find them anywhere. My wife will set the account up, so will be under her name. I cant find the information on their website.

[12DrinkMore]

Lot of misinformation (or maybe old information from a decade ago) in this thread.

I opened a USD account at my local BKK bank a few months ago. All done and dusted inside of 30 minutes, had to wait a week for the passbook to arrive.

USD transfers into the account cost 0.25% and cash withdrawals 1%. Here is the link

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transaction%20Accounts/Foreign%20Currency%20Account/pages/fcd%20fees.aspx

Here is a list of the branches that will open a forex account for you.

http://www.bangkokba...s_En_081210.pdf

Once again the Thai banks surpass the UK banks by a huge margin.

Edited January 22, 2011 by 12DrinkMore

[YellowFeverCAD]

Lot of misinformation (or maybe old information from a decade ago) in this thread.

I opened a USD account at my local BKK bank a few months ago. All done and dusted inside of 30 minutes, had to wait a week for the passbook to arrive.

USD transfers into the account cost 0.25% and cash withdrawals 1%

Once again the Thai banks surpass the UK banks by a huge margin.

Thanks for all the info I am curious does the USD account operate as a normal Thai baht account in that you are able to use online banking an ATM card etc?

Just curious if I could have money wired into the BKK Bank account and then if needed do an online transfer to my local Kbank account.

thanks for any info.

[12DrinkMore]

Thanks for all the info I am curious does the USD account operate as a normal Thai baht account in that you are able to use online banking an ATM card etc?

Just curious if I could have money wired into the BKK Bank account and then if needed do an online transfer to my local Kbank account.

thanks for any info.

Sorry no experience, but it does not operate as a normal Thai Baht account, no ATM facility and no interest.

I use my USD account to transfer from abroad and then withdraw physical greenbacks to visit neighbouring countries. Works out cheaper than moving USD to THB and then back to USD.

Edited April 20, 2011 by 12DrinkMore

[cheeryble]

Lot of misinformation (or maybe old information from a decade ago) in this thread.

I opened a USD account at my local BKK bank a few months ago. All done and dusted inside of 30 minutes, had to wait a week for the passbook to arrive.

USD transfers into the account cost 0.25% and cash withdrawals 1%

Once again the Thai banks surpass the UK banks by a huge margin.

Thanks for all the info I am curious does the USD account operate as a normal Thai baht account in that you are able to use online banking an ATM card etc?

Just curious if I could have money wired into the BKK Bank account and then if needed do an online transfer to my local Kbank account.

thanks for any info.

12drinkmore's right.

But it's very easy to fill a form in to convert say $XXXX to baht, and it's transferred to your baht acct within an hour usually.

[Daveroc]

To summarize information spread through the various posts. Bangkok Bank can offer Depsit accounts in 13 currencies. The accounts can be opened at a number of Branches around the Nation. Minimum opening deposits are the equivalent of USD1000. There are no account fees for operating the account unless the balance falls below USD250 when a USD10 charge will apply.

Fees charged for depositing funds depend on the method used. A SWIFT transfer cost will be .25% with a Minimum THB200 and a Max. 500Baht

Withdrawal fees range from .25% for USD, .5 for EUR, GBP, JPY and slightly higher for other currencies. In all cases the minimum 200 baht maximum 500 baht applies.

There is no charge if the funds are withdrawn and placed into a Thai Baht account.

Access to the account can be through the Internet Banking facility if you have it, or a call to the Branch. ATM cards cannot be connected to these accounts. Account balances are visible through the internet Banking facilty.

Documentation required to open the accounts is the same as per a Thai Baht account.

[Naam]

Can I have a dollar account in a bank in Thailand? This would enable me to transfer dollars into Thailand and then exchange dollars to Baht when the rates a favorable.

good idea, but don't hold your breath waiting for favorable rates.

[YellowFeverCAD]

Documentation required to open the accounts is the same as per a Thai Baht account.

I would say the above is not correct. I tried both Bangkok Bank and SCB today at The Mall Bangkapi, both told me I would need a letter from my embassy to prove I was a citizen of that country, my Passport was not enough and if I did not want to do that I needed to have at minimum a work permit.

When I opened my Kbank accounts it was a long term visa needed and nothing else. So not quite the same as a Thai bank account.

Unless that is a fluke that two different banks today asked for the same exact set of docs.

[12DrinkMore]

Documentation required to open the accounts is the same as per a Thai Baht account.

I would say the above is not correct. I tried both Bangkok Bank and SCB today at The Mall Bangkapi, both told me I would need a letter from my embassy to prove I was a citizen of that country, my Passport was not enough and if I did not want to do that I needed to have at minimum a work permit.

When I opened my Kbank accounts it was a long term visa needed and nothing else. So not quite the same as a Thai bank account.

Unless that is a fluke that two different banks today asked for the same exact set of docs.

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transaction%20Accounts/Foreign%20Currency%20Account/Pages/Default.aspx

Non-residents (Foreign Tourists or Foreigners working in Thailand temporarily)

• Passport
• Work Permit
  If you do not have a work permit, please submit a copy of your passport together with ONE ofthe following documents:
  - A letter of recommendation from a person acceptable to Bangkok Bank such as a Bangkok Bank staff member, a respected customer of Bangkok Bank, a respected university teacher, a respected company director or senior executive. This must be on the form provided by Bangkok Bank (this can be obtained from any Bangkok Bank branch which provides a foreign currency deposit account service) and it must be accompanied by a certified true copy of the identification document e.g. ID card or government official ID card of the person making the recommendation; or
  - A letter of recommendation from a reputable organization located in Thailand such as an embassy or an international organization; or
  
  - A letter of recommendation from your bank abroad, acceptable to Bangkok Bank, sent to Bangkok Bank via SWIFT; or
  - Your driver’s license containing your photo and address

My Thai driver's licence worked....

[YellowFeverCAD]

Non-residents (Foreign Tourists or Foreigners working in Thailand temporarily)

• Passport
• Work Permit
  If you do not have a work permit, please submit a copy of your passport together with ONE ofthe following documents:
  - A letter of recommendation from a person acceptable to Bangkok Bank such as a Bangkok Bank staff member, a respected customer of Bangkok Bank, a respected university teacher, a respected company director or senior executive. This must be on the form provided by Bangkok Bank (this can be obtained from any Bangkok Bank branch which provides a foreign currency deposit account service) and it must be accompanied by a certified true copy of the identification document e.g. ID card or government official ID card of the person making the recommendation; or
  - A letter of recommendation from a reputable organization located in Thailand such as an embassy or an international organization; or
  
  - A letter of recommendation from your bank abroad, acceptable to Bangkok Bank, sent to Bangkok Bank via SWIFT; or
  - Your driver's license containing your photo and address

My Thai driver's licence worked....

Which is swell expect the account it clearly labeled for NON residents.. so why would I as a non resident want or need to have Thai drivers license?

It seems odd that an account that is more restrictive NO ATM access, NO online banking etc, has a more strict opening requirement... *shrug*

[12DrinkMore]

Which is swell expect the account it clearly labeled for NON residents.. so why would I as a non resident want or need to have Thai drivers license?

It seems odd that an account that is more restrictive NO ATM access, NO online banking etc, has a more strict opening requirement... *shrug*

Please follow the link before flying off with nonsense.

1. The requirements are exactly the same as opening a deposit account.

2. You can use any national driving licence provided it has a photo and address on it.

3. The account is open to Thai nationals, those privileged few with "Permi-Res" and the rest of us, who are lumped in the non-resident category. Which pretty much means everybody can open a foreign currency account.

4. You can operate the account through the internet, so you could feed a THB account and then use an ATM card.

[Naam]

because nobody is willing to spell it out clearly to the OP i'll try to do it in my well known usual subtle and diplomatic way

to the OP: "your idea is <snip>!" :jap:

Edited April 22, 2011 by Naam

[TheFishman1]

I got to Chiang Mai at 7am today when to bank in 10 minutes opened the account with just a passport nothing else no problem

[12DrinkMore]

I got to Chiang Mai at 7am today when to bank in 10 minutes opened the account with just a passport nothing else no problem

Another shining example of Great Customer Service in Thailand.

[heybruce]

I got to Chiang Mai at 7am today when to bank in 10 minutes opened the account with just a passport nothing else no problem

Consider yourself lucky. I don't know what restrictions Thai law places on a foreigner opening a bank account, but most bank officials seem to look for reasons not to allow us to do basic banking. At Siam Commercial, Bangkok Bank and CitiBank I was told I needed a work permit or a Thai wife. This doesn't mean this is the policy of Siam, Bangkok and Citi, just that the bank officers I dealt with chose to impose this policy. I eventually got a bank account open with the help of a Thai friend, but it wasn't easy.