topswijaya Posted July 30, 2022 Share Posted July 30, 2022 Dear all, Can an Ed-visa holder open US Dollar and Baht time-deposit? How much is the interest of this time deposit? What is the minimum amount of time deposit? To open US Dollar time deposit, do you have to hand over new and clean US Dollar bank notes? Is it okay to give bank cashier a bit dirty US Dollar bank notes? Thanks Link to comment Share on other sites More sharing options...
Richard 2020 Posted July 30, 2022 Share Posted July 30, 2022 Just have a look at Thai banks in the www... There is everything you need to know... But the interest rates are a joke... As important Thai banks are to be mentioned: ACL Bank, Bank of Ayudhya, Bangkok Bank, Government Savings Bank, Kasikorn Bank, Kiatnakin Bank, Krung Thai Bank, Siam Commercial Bank, Tanachart Bank, TMB Bank and United Overseas Bank. The Bank of Thailand acts as the central bank. 1 Link to comment Share on other sites More sharing options...
EricTh Posted July 30, 2022 Share Posted July 30, 2022 Yes, you can hold Baht bank accounts for ed visa holders. Opening a US dollar bank account is not advisable because of the high fee for depositing and withdrawing US dollars in Thailand. Each US transaction is chargeable unlike Baht deposit/withdrawal. 1 Link to comment Share on other sites More sharing options...
peterfranks Posted July 30, 2022 Share Posted July 30, 2022 (edited) 4 minutes ago, EricTh said: Opening a US dollar bank account is not advisable because of the high fee for depositing and withdrawing US dollars in Thailand. There are no deposit fees for USD accounts, other than the usual fees when sending money to a baht deposit account. USD account pays no interest I'm not sure, but I think the USD have to come from abroad. There are also no fees if you withdraw the USD in Thai baht. Edited July 30, 2022 by peterfranks 1 Link to comment Share on other sites More sharing options...
topt Posted July 31, 2022 Share Posted July 31, 2022 15 hours ago, peterfranks said: There are no deposit fees for USD accounts, Have a look here for foreign banknotes - 1% at Bangkok bank for $US (min 500 baht) https://www.bangkokbank.com/-/media/files/personal/other-services/view-rates/table5/feesfcd_table5_1feb2022_en.pdf?la=en&hash=2E5AA1DFFA37F8B63B97D492A84E5DF4E9FEBC6A 1 Link to comment Share on other sites More sharing options...
BonMot Posted July 31, 2022 Share Posted July 31, 2022 Don't open a dollar account. You'll actually lose money on it. 1 1 Link to comment Share on other sites More sharing options...
peterfranks Posted July 31, 2022 Share Posted July 31, 2022 (edited) 52 minutes ago, topt said: Have a look here for foreign banknotes - 1% at Bangkok bank for $US (min 500 baht) https://www.bangkokbank.com/-/media/files/personal/other-services/view-rates/table5/feesfcd_table5_1feb2022_en.pdf?la=en&hash=2E5AA1DFFA37F8B63B97D492A84E5DF4E9FEBC6A I have a USD account with Kasikorn for 7 years already, there was no other fee than the usual transfer fee when I transferred USD from Europe to the account. When I withdrew half of it into Thai baht 2 weeks ago, there was again no fee, and I received telex transfer exchange rate +0.02 I just checked in my account book. I sent XXX,477.77 USD and received XXX,457.77 USD in my Kasikorn account. The 20 USD was taken by the intermediary bank. Edited July 31, 2022 by peterfranks 1 1 Link to comment Share on other sites More sharing options...
topt Posted July 31, 2022 Share Posted July 31, 2022 1 hour ago, peterfranks said: when I transferred USD from Europe to the account. When I withdrew half of it into Thai baht 2 weeks ago, there was again no fee Not disputing that and I think that is what the page I referenced to for BKK bank also says. I previously held one with SCB and had the same. However the OP was specifically talking about paying in $US notes which is what @EricTh referred to (fees) and which you responded to. 1 Link to comment Share on other sites More sharing options...
Mavideol Posted July 31, 2022 Share Posted July 31, 2022 (edited) 1 hour ago, peterfranks said: I have a USD account with Kasikorn for 7 years already, there was no other fee than the usual transfer fee when I transferred USD from Europe to the account. When I withdrew half of it into Thai baht 2 weeks ago, there was again no fee, and I received telex transfer exchange rate +0.02 I just checked in my account book. I sent XXX,477.77 USD and received XXX,457.77 USD in my Kasikorn account. The 20 USD was taken by the intermediary bank. have the same with BBK can not understand why some claim to have extra fees... I do have a (much) better exchange rate when transferring from the USD account to the Baht account Edited July 31, 2022 by Mavideol 1 Link to comment Share on other sites More sharing options...
EricTh Posted July 31, 2022 Share Posted July 31, 2022 22 hours ago, peterfranks said: There are no deposit fees for USD accounts, other than the usual fees when sending money to a baht deposit account. USD account pays no interest I'm not sure, but I think the USD have to come from abroad. There are also no fees if you withdraw the USD in Thai baht. What about depositing and withdrawing physical USD notes instead of transferring? 1 Link to comment Share on other sites More sharing options...
peterfranks Posted July 31, 2022 Share Posted July 31, 2022 (edited) 2 minutes ago, EricTh said: What about depositing and withdrawing physical USD notes instead of transferring? Withdrawing physical USD notes has a 0.5% fee with Kasikorn. Euros is 1% fee. I don't know if there is a fee for physical deposit, or if it even is possible Edited July 31, 2022 by peterfranks 1 Link to comment Share on other sites More sharing options...
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