SCB says I have 360 days to decide if I want to exchange my money to Baht.

[Sakeopete]

My previous employer had transferred money in USD to my Thai SCB account a few months ago.   SCB called me and told me the exchange rate offered and asked if I wanted it exchanged that day, I agreed.

I now have a much larger transfer and they contacted me again however with the US elections in a few days I wasn't sure if I should wait. The SCB Credit lady said I have 360 days to decided when to exchange the money to Thai Baht.

 

I'm not sure what I should do? Wait until after the election, wait until the new year? 

[HampiK]

I guess if somebody would know what will happen with the currency exchange, this person would become very very rich!

[Leaver]

Move your lump sum out of Thailand, and bring it in as you need it.  

[dlclark97]

Never heard of a limited time for USD to remain in an FCD account before.  Anyone else heard of this from other banks?

[mahjongguy]

Did the OP actually say it's an FCD account? Could be clearer but sounds to me that it's a baht account.

[Oldie]

I have FCD accounts (Euro and USD) at the Bangkok Bank and the Krungsri bank and this for very many years. No problems at all. The only important thing is to stay above the minimum balance requirements. When and if I want to withdraw in FCD currency or change to THB up to me. 

[Jennyau]

I've had a SCB $US account for years and never have been told I have to change it to baht. I just transfer funds as I want them.

[khunPer]

On 10/30/2020 at 12:02 PM, Sakeopete said:

I'm not sure what I should do? Wait until after the election, wait until the new year? 

From many years of experience, and the always crystal clear light of hindsight, I realized that it's difficult to predict, especially about the future...

[LukKrueng]

9 hours ago, dlclark97 said:

Never heard of a limited time for USD to remain in an FCD account before.  Anyone else heard of this from other banks?

Foreign currency transferred to my personal account has always been automatically exchanged to THB. To a business account the bank just notifies and I can keep it in the original currency for up to 1 year

[Oldie]

37 minutes ago, LukKrueng said:

Foreign currency transferred to my personal account has always been automatically exchanged to THB. To a business account the bank just notifies and I can keep it in the original currency for up to 1 year

Why don't you transfer it to an account in foreign currency at a Thai bank? 

[jomtienisgood]

23 hours ago, khunPer said:

From many years of experience, and the always crystal clear light of hindsight, I realized that it's difficult to predict, especially about the future...

Yes, it's always been easier to predict the past. 55555555555???? 

[Leaver]

On 11/2/2020 at 5:06 PM, jomtienisgood said:

Yes, it's always been easier to predict the past. 55555555555???? 

But not easy for some to learn from it.  ????