Can anyone recommend a decent fee free US Dollar account, i am a British citizen soon to be living in Thailand, but about to start getting paid in this fading currency.

I see Citibank has a USD account on offer in the UK, is this account any good, and are there charges if i withdraw BHT, at Citibank, Asoke, plus what are the charges for when i eventually transfer it into GBP.

If anyone can recommend a better bank id appreciate it.

Thanks.

In UK there are few, you'de be better off looking in Singapore

Current accounts

Skipton Guernsey used to have one but I'm not sure now.

Co-Op Guernsey also used to, but again I think they have stopped offering new USD accounts.

Standard Bank IOM

Clydsedale Bank IOM

Savings Accounts

Anglo Irish IOM

Alliance & Leicester IOM

If you are looking for a bankin Thailand that can do that go for the Bank of Ayudhya (The Yellow Bank) at any branch, however if you ever need a large amount of foreign currency 20k+ you will have to go to their main branch in Rama 3 to get it.

You can open USD EURO accounts and other currencies I imagine, they give you an ATM card the ATM machine will tell you the amount in USD but will translate it into Thai Baht if you want to withdraw.

I believe the minimum to open an account is 500 the currency USD or Euros.

Also if you get your money transfered from abroad directly into your account you will get a slightly higher exchange rate than the cash exchange rate.

Fee free not sure about that I can't remember I don't think their is such a thing for a FOREX account in a foreign country even in Singapore Hong Kong they charge a small percentage.

http://www.krungsri.com/en/consumer-detail.aspx?did=124 click the following to find out more in English

Edited August 30, 201115 yr by shadiadi

I have an AUD account with Kasikorn, the total cost to transfer funds is under 1.5% - that is both ends - Australia and Thailand, (the % drops with bigger amounts) when I withdraw into Thai Baht I am paid a higher rate than the daily cash or travellers Chq rates. The account was free to open and is fee free if over 5k balance ? I think, best check the amount, but no big deal.

I am sure the usual suspects will jump on this an call me a liar as always seems to be the case here.

But anyway, here is what I was told when I visited the Citibank on Asoke as I bank with Citi in the U S and was trying to do the same thing.

First: the Citibank in Thailand is not the same as in the U S or U K. They have no direct connection. I was told that I could open up an account here but it was up to me to get my funds transfered over. When I asked about doing this he gave me the 800# that is on the back of my ATM card. They were very helpful but not what you would expect from a bank with the same name

Second I was told that the dollar account isn't really a dollar account. Your money comes in in dollars and is converted into bhat and held. If you want your money back in dollars it is reconverted. All this is subject to exchange rates and fees. Plus I know for a fact that when I transfer money here from my Citi account they will not transfer in dollars only local currancy.

Third not sure if you are aware, but there is only one Citibank office in Thailand, the one on Asoke, there were plans to open a 2nd on Silom so now maybe 2. Now before I get jumped on I asked the same question, I see Citi offices all over the place, even in Khon Kaen. Those are loan processing offices and no banking can be done there.

I finally just ended up just transfering what I needed when the exchange rates were at a decent level and live with it.

Would be interested to hear what you find out.

Regards

In UK there are few, you'de be better off looking in Singapore

Current accounts

Skipton Guernsey used to have one but I'm not sure now.

Co-Op Guernsey also used to, but again I think they have stopped offering new USD accounts.

Standard Bank IOM

Clydsedale Bank IOM

Savings Accounts

Anglo Irish IOM

Alliance & Leicester IOM

Citibank international personal banking in Singapore is a pretty good outfit been with them for years, customer service is good, No fee banking if you deposit a minimum of US$25k with them, unless you use Aoen banking in Thailand still going to get hit with the THB 150 withdrawal change

All the big UK banks (and many of the small ones) both onshore and offshore do USD and EUR accounts. Better rates offshore, as a rule, but not always.

I asked HSBC in Bangkok for a USD account and opened it easily - plus a THB account. They allow me to transfer USD to THB at very competitive rates free on demand.

I asked HSBC in Bangkok for a USD account and opened it easily - plus a THB account. They allow me to transfer USD to THB at very competitive rates free on demand.

But you pay fees with HSBC for haviing an account unless you are a Premier customer.

There are plenty of banks around that charge fees for having an account but the OP is looking for fee free banking.

I asked HSBC in Bangkok for a USD account and opened it easily - plus a THB account. They allow me to transfer USD to THB at very competitive rates free on demand.

But you pay fees with HSBC for haviing an account unless you are a Premier customer.

There are plenty of banks around that charge fees for having an account but the OP is looking for fee free banking.

Correct, set up a Premier account with HSBC (very simple) and no fees

If you are looking for a bankin Thailand that can do that go for the Bank of Ayudhya (The Yellow Bank) at any branch, however if you ever need a large amount of foreign currency 20k+ you will have to go to their main branch in Rama 3 to get it.

You can open USD EURO accounts and other currencies I imagine, they give you an ATM card the ATM machine will tell you the amount in USD but will translate it into Thai Baht if you want to withdraw.

I believe the minimum to open an account is 500 the currency USD or Euros.

Also if you get your money transfered from abroad directly into your account you will get a slightly higher exchange rate than the cash exchange rate.

Fee free not sure about that I can't remember I don't think their is such a thing for a FOREX account in a foreign country even in Singapore Hong Kong they charge a small percentage.

http://www.krungsri....il.aspx?did=124 click the following to find out more in English

When I looked into it at Ayudhya they wanted 2% going in and 2% coming out.

I asked HSBC in Bangkok for a USD account and opened it easily - plus a THB account. They allow me to transfer USD to THB at very competitive rates free on demand.

But you pay fees with HSBC for haviing an account unless you are a Premier customer.

There are plenty of banks around that charge fees for having an account but the OP is looking for fee free banking.

Correct, set up a Premier account with HSBC (very simple) and no fees

Very simple if you happen to have the odd $100,000 laying around to open it with.

Very simple if you happen to have the odd $100,000 laying around to open it with.

Dont all farangs living in Thailand have a 100k laying round the house as petty cash to fund their SAS, CIA, Navy seal secret op's ?.....