Best Thai Bank To Open Foreign Currency Account

[mrmillersr]

I've got a check coming from the UK payable in GBP. Rather than deposit it into one of my Thai baht accounts I want to open a GBP foreign currency account instead. Does anyone know which local bank has the lowest fees to do this? Check is for around 30,000 GBP.

[sundaypsychos]

if i remember correctly i paid about 500baht when i transferred over an amount similar to that. im with bangkok bank. they seem to give a slightly better rate on the pound than my previous bank siam commercial.

[ozsamurai]

As far as I know HSBC is the only one to offer foreign currency accounts, but they charge like a wounded bull in my books, so you can't get both. I'll follow along see if anyone else has any more...

Oz

[lannarebirth]

I do not have a recommendation, save to warn against using Kasikorn Bank.

[samuibeachcomber]

you can get a foreign currency account but most banks will only let you open one if you are employed here and have the required visa and work permit.these accounts pay reasonable interest rates around 5% upwards i think.If you are on a non O retirement extension or marriage extension you may get lucky depending on the bank and who you talk to.

[chiang mai]

All the major Thai banks, plus the overseas banks in Thailand, now offer foreign currency accounts so really, take your pick. But be aware, if you deposit a UK Sterling cheque in a bank based in Thailand it will take a long time to clear, certainly not the three working days you are used to and possibly a matter of weeks. As for what the charges might be, I've no idea but I strongly suggest you find out before depositing your cheque here.

[gotlost]

Bank of Bangkok account on marriage or retirement extension no problem. Check 340 baht. They say 30 days to clear mostly 21 days.

[Mapguy]

I suggest Bangkok Bank as having the most transfer agents and the most experience with this sort of thing. But check it out for procedures that you might not be normally accustomed to. In any case, the number of branches able to do this might be limited, and don't expect immediate domestic inter-branch transfer of funds. Anyway, check it out. If you are in Chiang Mai, I think the Kad Suan Kaew branch manager knows his business.

[Trickcyclist]

Bank of Ayudhya, if they still do foreign GBP accounts..

[L&J]

Deposited a U.S. Government Treasury check in a Bangkok Bank account and it was immediately

credited to the account. Since it was a government check BB said there was no wait for any clearance

process.

[Jonathanpattaya]

I would agree with the Bangkok Bank suggestions.

[mrmillersr]

I checked today at the Bangkok Bank branch where I have a Thai baht account. They told me their fee was I think 340 baht plus there was another fee of 34 GBP that I would be charged also. Does this sound right or am I getting hosed on this?

[Kitsch22]

I suggest Bangkok Bank as having the most transfer agents and the most experience with this sort of thing. But check it out for procedures that you might not be normally accustomed to. In any case, the number of branches able to do this might be limited, and don't expect immediate domestic inter-branch transfer of funds. Anyway, check it out. If you are in Chiang Mai, I think the Kad Suan Kaew branch manager knows his business.

And if you are in Chiang Rai, please be aware that my wife and I were informed that the only branches there equipped to set up such accounts are those at Chiang Rai and Mae Sai. I recommend the latter where Khun Malai Buasarot (the Provincial Manageress) proved to be exceptionally helpful and generally pleasant. Any Thai bank manageress who keeps an effigy of Albert Einstein on her desk and is able to engage in a discussion of his work surely gets my business!

[vera5212]

I go with the idea of Bangkok Bank. Here the link with all the info needed on foreign currency accounts.

http://www.bangkokbank.com/Bangkok%20Bank/...20Accounts.aspx

In case the link does not work - go to www.bangkokbank.com - personal banking - foreign customers - Bangkok Bank accounts

[L&J]

Khun Malai Buasarot had been running the BB at Kad Suan Kaw for years and we found her great. Then she was sent off to Mae Sai. Never understood why? Thought she must have offended someone as we couldn't possibly have envisioned the move as a promotion.

[uptheos]

Khun Malai Buasarot had been running the BB at Kad Suan Kaw for years and we found her great. Then she was sent off to Mae Sai. Never understood why? Thought she must have offended someone as we couldn't possibly have envisioned the move as a promotion.

It actually is a promotion.

She was sent there because they have a massive amount of Chinese clients with BIG money and she is the 'Chinese Connection'.

Always helpful to foreigners.