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Foreign currency accounts - retirement extension

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One thing you need to know is that these foreign currency accounts are not guaranteed by the Bank of Thailand. I have one due to the Baht being too strong.

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  • elviajero
    elviajero

    Yes, they allow foreign currency accounts, and they should allow the 800K held in two accounts.   You would need a letter form the bank confirming the balance plus an updated passbook, and i

  • Great question, helpful answers.

  • No way. Interest on a FCD account is very low. Lower than the bank you transferred it from.

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5 hours ago, UKresonant said:

Shall we say, they have a strong preference for it to be withdrawn in Baht.

I may have heard wrong but was under an impression it effectively withdrew Sterling and it was given to you in baht, or those baht were converted back to Sterling and you got a hit with the spread. It does not sound like you can take £500 out of the FCD, you get that in crisp Sterling notes, and that is all it costs you.

When I enquired about FCA with Krungsri a couple of years ago it seemed like there were were fees associated with just about anything you wanted to do, paying in, withdrawals, annual fees. At that time it just didn’t seem worth it which is why I was asking about other banks.

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