Foreign Currency Deposit Account

[lelapin]

I have had a foreign currency deposit account with Bangkok Bank for several years now, and currently have less than 200 pounds sterling in it. I have just noticed that for the last 3 months I have been charged 7.00 pounds a month Maintenance Fee. Has anyone experienced this charge recently. I have never had it before.

[kiever]

I will set up US dollar account in Bangkok-bank. Nobody told me this also. 

[topt]

Quite a few years ago when I had one there were minimum amounts that you had to keep or there were charges. Same as with some UK offshore accounts.

Have you checked the Bangkok bank web site charges details?

[Jip99]

That is why I took mine down to zero when I started using Transferwise.

 

 

It still appears to be open.

[topt]

7 minutes ago, topt said:

Have you checked the Bangkok bank web site charges details?

have a look here 

https://www.bangkokbank.com/-/media/files/personal/other-services/view-rates/table6/feesfcd_table6_1oct2018_en.pdf?la=en&hash=29CB55A5BCC43A2CDE176AA6583648EF0B419DEC

[Beggar]

There are two things you have to watch. The minimum balance and the time when your account is regarded as dormant. Both will cost you money if you don't care. 

[lelapin]

I have since found out that an equivalent minimum balance  of $250 must be maintained or a $10 monthly charge is made. I was never informed of this by the bank.

Edited January 3, 2020 by lelapin

[kiever]

Minimum deposit is 1000 usd and minimum balance is 250 usd. So when I open my account I should deposit at least 1000 usd ? If I keep zero dollars still I need to pay 10 usd monthly ?

Edited January 3, 2020 by kiever

[Beggar]

42 minutes ago, kiever said:

Minimum deposit is 1000 usd and minimum balance is 250 usd. So when I open my account I should deposit at least 1000 usd ? If I keep zero dollars still I need to pay 10 usd monthly ?

If your account is 0 it will be closed. 

[kiever]

clear. dont need to open us dollar account then. i was planning a  trip to philippines and didnt want to change baht to dollars. i thought just will be easier to open us dollar account and  transfer dollars directly. transferwise works like a charm. i can send baht and exchange them to us dollars in thailand. cheaper, easier.

Edited January 4, 2020 by kiever