Foreign Currency Denominated Account

[fresnoboy]

I'm wondering if any of you are familiar with "Foreign Currency Denominated Accounts" ?

I have some Euro which I would like to cash but, with the rate as it is, I'm wondering if it would be better to wait until a better rate is available.

Anybody have any experience ?

Which banks ?

T. I. A.

[fresnoboy]

I see that I sparked a lot of answers !

Anyway, for those that might be interested; opening an account w/ cash is pretty easy but a check will take 45 days to process :-(

[bangsaenguy]

Foreign currency accounts are available at most of the major banks. I have one with Siam Commercial. You will need to go to a main branch as opposed to one of the smaller ones.

[chiang mai]

I'm wondering if any of you are familiar with "Foreign Currency Denominated Accounts" ?

I have some Euro which I would like to cash but, with the rate as it is, I'm wondering if it would be better to wait until a better rate is available.

Anybody have any experience ?

Which banks ?

T. I. A.

It's not clear to me if you want to open a foreign currency account or simply to cash some Euro. If you require the former, most of the large Thai banks offer such accounts as does HSBC in Bangkok. If you want to just cash Euro then you don't necessarily need a foreign currency account to do so - if you are planning to transfer the Euro from overseas the Euro can be directed to any Thai Baht account and the receiving bank will make the exchange. If you want to cash a Euro cheque, well simply you wouldn't want to do that in Thailand because of the length of time it takes. As for waiting for a better exchange rate, you must take a view whether this is a good thing or not since nobody really knows.

[henryalleman]

I'm wondering if any of you are familiar with "Foreign Currency Denominated Accounts" ?

I have some Euro which I would like to cash but, with the rate as it is, I'm wondering if it would be better to wait until a better rate is available.

Anybody have any experience ?

Which banks ?

T. I. A.

keep your Euro in your bank back home

I asked kasikorn some information about it, hereby some extractions from their mail

2008/8/15 <[email protected]>

Dear Mr.xxxxxxxxxx,

Thank you for using our services of KASIKORNBANK PCL. We are pleased to

provide you the information you have enquired as follows:

Please kindly be informed that you cannot transfer between an own FCD

account and a own Thai baht saving account.you need to withdraw money at

your Kbank Branch from the account frist.After that you have to deposit the

money which you have withdrawed to the another account.(FCD- Saving or

Saving- FCD)

Dear Mr.xxxxxxxxx,

Thank you for using our services of KASIKORNBANK PCL. We are pleased to provide you the information you have enquired as follows:

Referring to your email;When you make a cash withdrawal

from my FCD account in Thai Baht, it will be the changing rate of banknotes. For fee of withdrawal from my FCD account will charge 1% from the amount money you withdraw

(The minimum 1,000 baht).

Therefore you can contact K-Contact Center at Tel. (66) 2888 8800 press0 press3

"Account Services and Banking Services" to ask our representative directly at all time 24 hours.

Should you need further information, please do not hesitate to contact K-Contact Center at Tel. (66) 2888 8800 or e-mail: [email protected]

Best Regards,

KASIKORNBANK PCL.

Chayada Tantipas