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

[Satcommlee]

For Kasikorn you need to go to one of these branches as not all branches have the service and know much about it...

https://www.kasikornbank.com/th/personal/Account/Documents/list-branch-account.pdf

Money in the FCD will not be guaranteed by the government and they will charge 500 baht commicion on every inward remmitance regardless of value.

[jayceenik]

19 hours 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.

Since some 25 years I have maintained a Citibank SIN USD FCD account.

It's where my salary used to be deposited.

A year ago I looked into bringing that FCD account to Bangkok Bank in BKK.

I inquired in person with BB HQ in Silom BKK.

BB FCD very burdensome, not practical.

I stay with my very convenient Citi SIN USD FCD account.

Very, very easy to manage.

 

[dlclark97]

21 hours 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.

 

21 hours 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.

Yes, Bangkok Bank does offer foreign currency accounts. I have one but even to withdraw money in its original foreign currency it must first be converted to THB and then from THB to the desired currency.  I will make the assumption as this applies to all banks offering a foreign currency account.  It is how the banks make a little money.

[RupertIII]

19 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.

I have a GBP a/c with BKK Bank and on a couple of occasions have transfered GBP to my UK health insurance company without having to convert first to THB. However this has to be done in person at either at the branch you opened the a/c at or HO. I was hoping to be able to transfer direct from my online a/c but I would then, so I was told, have to convert first into THB.

[fittobethaied]

20 hours ago, UWEB said:

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

Just last month I transferred USD out of my USD Foreign Currency Account by SWIFT. Not a problem!

[UWEB]

11 minutes ago, fittobethaied said:

Just last month I transferred USD out of my USD Foreign Currency Account by SWIFT. Not a problem!

Thanks, seems to be they have given me wrong information's. If I want to make a transfer I have to ask again.

[CANSIAM]

Have a look at UOB, up to 10 different currency accounts - 'FCD' accounts..

[KhaoHom]

1 hour ago, jayceenik said:

Since some 25 years I have maintained a Citibank SIN USD FCD account.

It's where my salary used to be deposited.

A year ago I looked into bringing that FCD account to Bangkok Bank in BKK.

I inquired in person with BB HQ in Silom BKK.

BB FCD very burdensome, not practical.

I stay with my very convenient Citi SIN USD FCD account.

Very, very easy to manage.

 

 

Agreed

 

Citi is still in Thailand??

[JohnnyBD]

16 minutes ago, KhaoHom said:

 

Agreed

 

Citi is still in Thailand??

No, Citibank Thailand was sold to UOB, and all my accounts were transferred over to UOB in April 2024.

[crazykopite]

Why not have a Wise bank account  I hold money in it and can use many different currencies 

[sammieuk1]

I have had a K'bank FCD Pound and Euro account for the last 15 years and until very recently the only way to view your balance was at branch as I found out being locked out for 19 months during covid' unable to view anything.

 

The new app lets you now see when you get a deposit in my case private pension but that's the end of useful features' you cant move change or do any other banking with a FCD without going to branch then you get hit with half a baht lower rate per pound always.🤔

 

[wensiensheng]

On 5/25/2025 at 1:27 PM, federicoP said:

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?

 

On 5/25/2025 at 1:27 PM, federicoP said:

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?

I think a number of Thai banks offer FCY fixed deposit accounts. I don’t know about current or savings accounts.

 

But the tricky bit is remitting said FCY out of the country. I think that may be pretty difficult and even if possible, require a lot of paperwork.

 

Not sure what your circumstances are but I think the important thing is to not bring FCY into the country in the first place.

 

DBS in Singapore has an account called “my account” which can be opened in 15 different currencies (not Thai baht) and a debit card can be linked to any of them. Not sure if that is any good to you.

[jippytum]

On 5/25/2025 at 5:08 PM, 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.

I have a FCD account with BB. You can not transfer foreign currency directly out of Thailand without a double transfer..... ie GBP to baht..From FCD account baht to GBP then transfer.....Unfortunatly . Double transfer the poster is trying to avoid. 

[bravo19]

On 5/26/2025 at 12:16 PM, wensiensheng said:

 

DBS in Singapore has an account called “my account” which can be opened in 15 different currencies (not Thai baht) and a debit card can be linked to any of them. Not sure if that is any good to you.

Do you have experience to open a bank account in singapore as a tourist? Is that possible like in Thailand?