Foreign currency account

[federicoP]

Is there any thai bank where you can open a foreign currency account and also use that account to transfer money (in that currency) to other countries, without having to first change it into baht and then exchange it back for into the original currency?

[ukrules]

Yes, I know both Bangkok Bang and Kasikorn offer these foreign currency accounts (they call it FCD account)  - but there are likely other banks in addition to them.

[federicoP]

Thanks, a few years ago I contacted Siam Commercial Bank but they told me that to get back my dollars or euros they would first have to change them into baht and then back into dollars or euros, which involves a double currency exchange.....

[SAFETY FIRST]

11 minutes ago, federicoP said:

Thanks, a few years ago I contacted Siam Commercial Bank but they told me that to get back my dollars or euros they would first have to change them into baht and then back into dollars or euros, which involves a double currency exchange.....

It's because they are different currencies. 

 

I have a USD account with kasikorn, at times I get my salary sent to this account, I get paid USD.

If I got paid euro I would have to open a euro account.

[UWEB]

1 hour ago, ukrules said:

Yes, I know both Bangkok Bang and Kasikorn offer these foreign currency accounts (they call it FCD account)  - but there are likely other banks in addition to them.

But at least from the BBL Foreign Currency Account you can't sent Money out of Thailand.

[Thailand J]

36 minutes ago, UWEB said:

But at least from the BBL Foreign Currency Account you can't sent Money out of Thailand.

sure?

 

 

[KhaoHom]

Many years ago I looked into a foreign account at bbl. It was burdensome and expensive. Highly not recommend unless you don't mind wasting money for convenience.

[UWEB]

52 minutes ago, Thailand J said:

sure?

 

 

Have tried it twice, both times I have got the same answer that you have to change at first o THB to transfer out of Thailand.

[StayinThailand2much]

46 minutes ago, KhaoHom said:

Many years ago I looked into a foreign account at bbl. It was burdensome and expensive. Highly not recommend unless you don't mind wasting money for convenience.

 

They should do it like in China; different currencies in one savings account. (When I lived there, I had yuan, HK dollars, and euros all in one account).

[StayinThailand2much]

1 hour ago, SAFETY FIRST said:

I have a USD account with kasikorn, at times I get my salary sent to this account, I get paid USD.

If I got paid euro I would have to open a euro account.

 

I looked into this, but those foreign currency accounts seem to have relatively high fees, while, at the same time, not offering much interest.

[federicoP]

2 hours ago, UWEB said:

Have tried it twice, both times I have got the same answer that you have to change at first o THB to transfer out of Thailand.

 

This is exactly what I would like to avoid:  if I have Euro I would like to send them directly, not to change them to Baht and change back to Euro