Foreign Currency Account?

[domus]

what is the diference between a normal bank account, say, at Bangkok Bank, and a 'foreign currency' bank?

rgds

[pampal]

If we are talking about Thailand

a normal bank account is denominated in Thai Baht

and a foreign currency account is denominated in usually US Dollars, UK pounds or the Euro, but can be in other currencies also

[domus]

so if i want to send sterling to my thai girlfriends account, does she need an account that will acccept sterling?

or will her normal account satisfy this requirement?

[haybilly]

so if i want to send sterling to my thai girlfriends account, does she need an account that will acccept sterling?

or will her normal account satisfy this requirement?

Her normal Thai bank will accept transfers in any currency, sensible that is, and will exchange it at the current rate before crediting it to her account--or, your bank in wherever you are will probably offer to exchange it for you into Thai baht--I have found that I usually get a better end result if I send in foreign and allow my Thai bank to do the exchange.

[naka]

so if i want to send sterling to my thai girlfriends account, does she need an account that will acccept sterling?

or will her normal account satisfy this requirement?

Her normal Thai bank will accept transfers in any currency, sensible that is, and will exchange it at the current rate before crediting it to her account--or, your bank in wherever you are will probably offer to exchange it for you into Thai baht--I have found that I usually get a better end result if I send in foreign and allow my Thai bank to do the exchange.

Quite right, always send in major foreign currency, and have it converted to Baht in Thailand.

Naka.