Foreign Currency Account

[Berti]

At which bank can you operate a US-Dollar account for foreigners via online banking? (Transfers, including transfers out of Thailand)

[Mike Lister]

7 minutes ago, Berti said:

At which bank can you operate a US-Dollar account for foreigners via online banking? (Transfers, including transfers out of Thailand)

In Thailand? None online.

Edited June 18 by Mike Lister

[UWEB]

I have a FCD Account at BBL with Online Banking, I can make transfers to my THB Account butt never tried to sent Money out of the Country. There is a new Option to make international Transfers, but at first you have to go to the Bank to apply for or do it Online. Here you need SMS OTP access for.

[Berti]

9 minutes ago, UWEB said:

I have a FCD Account at BBL with Online Banking, I can make transfers to my THB Account butt never tried to sent Money out of the Country. There is a new Option to make international Transfers, but at first you have to go to the Bank to apply for or do it Online. Here you need SMS OTP access for.

 

What is BBL? I don't know this bank.

[Berti]

7 minutes ago, Berti said:

 

What is BBL? I don't know this bank.

 

OK I see it's the stock symbol for Bangkok Bank.

[sandyf]

5 hours ago, UWEB said:

I have a FCD Account at BBL with Online Banking, I can make transfers to my THB Account butt never tried to sent Money out of the Country. There is a new Option to make international Transfers, but at first you have to go to the Bank to apply for or do it Online. Here you need SMS OTP access for.

The shouldn't be any problem repatriatng funds that have not been converted, it is only the Thai baht that is subject to BOT restrictions.

[UWEB]

4 minutes ago, sandyf said:

The shouldn't be any problem repatriatng funds that have not been converted, it is only the Thai baht that is subject to BOT restrictions.

But most Banks asking to convert foreign Currencies into THB first and than convert back into the Currency you want to sent.

[sandyf]

32 minutes ago, UWEB said:

But most Banks asking to convert foreign Currencies into THB first and than convert back into the Currency you want to sent.

I did look into an FCD a few years back and if I remember right one of the selling points was the ability to repatriate foreign funds without conversion.

If what you say is what happens in practice then I don't see much benefit in that type of account.

FAQs on BBL website would indicate transfers should be able to be made without conversion.

As far as the OP is concerned I noticed this statement.

"However, the users are still unable to transfer funds from FCD accounts into overseas account via Bualuang iBanking Service."

[Paris333]

Why you didnt send your money at Europe but in accounts that is covered from Europena Insurance Fund in account until €100.000.

Ι have already send my money with Revolut transfer to Dubai many times but in euro accounts.

[markus]

7 hours ago, Berti said:

 

OK I see it's the stock symbol for Bangkok Bank.

The BIC for Bangkok Bank is: BKKBTHBK

[Mike Lister]

26 minutes ago, markus said:

The BIC for Bangkok Bank is: BKKBTHBK

That's the SWIFT code, the BIC code is BKKBTHBKXXX but it changes based on the type of service being used. The two numbers are interchangeable but are not exactly the same.

Edited June 18 by Mike Lister

[Isan Farang]

2 hours ago, UWEB said:

But most Banks asking to convert foreign Currencies into THB first and than convert back into the Currency you want to sent.

 

If you have a FCD $ Account with BB you have 2 options

1. Convert the USD to TB at whatever the rate on the given day

2. Take the cash in USD, there is a charge for the service

 

When i had this account i was unable to do do anything online, all transactions had to be done at the bank, but things may have recently changed.

[MJCM]

8 hours ago, Berti said:

 

What is BBL? I don't know this bank.

 

It stands for Bangkok Bank Limited

 

It's used for their listing at the SET (Stock Exchange Thailand)

 

https://www.set.or.th/en/market/product/stock/quote/BBL/price

Edited June 18 by MJCM
Changed link to be the English one

[UWEB]

2 hours ago, Isan Farang said:

 

If you have a FCD $ Account with BB you have 2 options

1. Convert the USD to TB at whatever the rate on the given day

2. Take the cash in USD, there is a charge for the service

 

When i had this account i was unable to do do anything online, all transactions had to be done at the bank, but things may have recently changed.

Recently means at least 12 years since I have the Account, since the beginning I could do the transfers online.

[Isan Farang]

44 minutes ago, UWEB said:

Recently means at least 12 years since I have the Account, since the beginning I could do the transfers online.

 Are you doing the transfers via Bualuang iBanking Service.

 

You state you can do the transfers online, can you indicate what type of transfers 

[Liverpool Lou]

12 hours ago, Berti said:

At which bank can you operate a US-Dollar account for foreigners via online banking? (Transfers, including transfers out of Thailand)

A phone call to their English-speaking call centres would tell you quicker, and more accurately, than asking here and, regardless of the replies here, you're still going to have to make that/those calls to confirm.

Edited June 18 by Liverpool Lou

[JohnnyBD]

Can anyone with a Bangkok Bank USD FCD account, confirm whether you can convert USD in your FCD account to your THB account online? Or, do you have to go into the bank to convert? Citibank TH allowed me to convert online, but they were taken over by UOB, and UOB does not allow online conversations. I have to go into the bank. I have SCB & KBank accts, and they do not allow online conversations either.

Edited June 18 by JohnnyBD

[UWEB]

7 hours ago, JohnnyBD said:

Can anyone with a Bangkok Bank USD FCD account, confirm whether you can convert USD in your FCD account to your THB account online? Or, do you have to go into the bank to convert? Citibank TH allowed me to convert online, but they were taken over by UOB, and UOB does not allow online conversations. I have to go into the bank. I have SCB & KBank accts, and they do not allow online conversations either.

Yes you can do this with BBL IBanking online, you just enter the amount you want to change and confirm and seconds later the USD is changed to THB and on your Account. But only during BBL business hours.

[John9]

If you open Foreign Currency Account with UOB Bank you can keep in currency say GBP USD etc and you can do online transfer to other country by SWIFT. Your SWIFT TT charges will be deducted from foreign currency account or you can convert them to THB account. Unfortunately intreest rate is very low.

[JohnnyBD]

6 hours ago, UWEB said:

Yes you can do this with BBL IBanking online, you just enter the amount you want to change and confirm and seconds later the USD is changed to THB and on your Account. But only during BBL business hours.

Thanks for the info. UOB said in the future, they may offer online conversions from their FCD accts to their THB accts, but they do not allow it now. I guess if I want the convenience of converting my USD to THB online, I will need to open new accounts with BBL, since it appears BBL is the only Thai bank that offers online conversions.

[JohnnyBD]

7 hours ago, UWEB said:

Yes you can do this with BBL IBanking online, you just enter the amount you want to change and confirm and seconds later the USD is changed to THB and on your Account. But only during BBL business hours.

I had Citibank TH accts since 2016. Citi didn't charge an incoming wire fee when I wired money from the US. I could also convert my USD in Citi to my THB acct online, day or night. UOB bought Citibank TH, and they converted all my accts to UOB in April. Now, when I wire money from the US, UOB charges me a 500B incoming wire fee, and I have to go into the bank to convert my USD to THB. It's very inconvenient now. I have to go into the bank, get a ticket and wait 30 min to an hour just to make a conversion. It was so easy before, watching the currency rates and then making a conversion online.