FCD Accounts (Kasikorn)

[Jenkins9039]

Recently went into a branch to open an additional account (with a new bank, opposed to existing bank, i bank with), its been something like 10yrs since i opened anything new, anyway, they looked at my visa and said oh Elite arrange this for you, so rang them, they've spoken to Kasikorn and heading to the branch tomorrow to open the account (freebies, and less requisites)

 

They mentioned a SGD account (FCD) account, I previously had a FCD account with Bangkok Bank for my Thai company (EUR). 

Does anyone know how the FCD account works with Kasikorn ? (THB one i fully grasp lol).

 

IS the FCD account a domestic or Singapore based ? - Kasikorn are operating out of Singapore also - hence the question, important reason (tax) and I generally think most bank staff give you the safest answer opposed to the facts if unsure.

 

 

 

Edited October 7, 2021 by Jenkins9039

[CharlieH]

MOVED

Banking Forum

[topt]

17 hours ago, Jenkins9039 said:

IS the FCD account a domestic or Singapore based ?

Domestic.

Presume you have already seen this - https://www.kasikornbank.com/en/personal/Account/Pages/foreign-currency.aspx

 

Scroll down a fair way to see non resident blurb.

 

If you want a Singapore based account I think you have to go there to open, not easy for non Singapore residents and requires mucho dinero - which may of course not be an issue for you. These points being my remembered takeaways when the subject came up in the past but I could well be mistaken 

[Jenkins9039]

5 hours ago, topt said:

Domestic.

Presume you have already seen this - https://www.kasikornbank.com/en/personal/Account/Pages/foreign-currency.aspx

 

Scroll down a fair way to see non resident blurb.

 

If you want a Singapore based account I think you have to go there to open, not easy for non Singapore residents and requires mucho dinero - which may of course not be an issue for you. These points being my remembered takeaways when the subject came up in the past but I could well be mistaken 

Yep domestic and swift.

[stevenl]

I was looking at the same this week.
 

Since withdrawal to my Thai bank is more expensive than with a regular account (from moment it gets transferred till I receive in Thai Baht) and I don't want to speculate with this I decided against it.

[Jenkins9039]

1 hour ago, stevenl said:

I was looking at the same this week.
 

Since withdrawal to my Thai bank is more expensive than with a regular account (from moment it gets transferred till I receive in Thai Baht) and I don't want to speculate with this I decided against it.

Why not use wise and transfer baht into a baht account, its usually instant, and no charges, can withdraw straight from ATM.

 

I was looking at FCD for tax reasons (Singapore mature for 12 months then bring in). But turns out the account doesn't serve the purpose.