jiangaq Posted April 14, 2013 Share Posted April 14, 2013 If not a juristic person or not having a company, how to open a foreign currency saving account in Cm since I don't want to exchange to THB now as the terrible exchange rate for dollar and thb. Link to comment Share on other sites More sharing options...
elektrified Posted April 14, 2013 Share Posted April 14, 2013 (edited) It has become much more difficult recently. I think some banks want a minimum deposit amount, a number which I can't recall but is quite high (IMO). Also if you are an American looking to deposit USD, don't be surprised if they hand you a U.S. tax form and ask you to sign it. The BoT also has some strict guidelines for where the funds can originate from. Best to approach a bank you already have a relationship with and ask them. Edit: why not use an ATM to buy THB using currency exchange when you need it? You will get the best rate that way. Edited April 14, 2013 by elektrified Link to comment Share on other sites More sharing options...
jiangaq Posted April 14, 2013 Author Share Posted April 14, 2013 It has become much more difficult recently. I think some banks want a minimum deposit amount, a number which I can't recall but is quite high (IMO). Also if you are an American looking to deposit USD, don't be surprised if they hand you a U.S. tax form and ask you to sign it. The BoT also has some strict guidelines for where the funds can originate from. Best to approach a bank you already have a relationship with and ask them. Edit: why not use an ATM to buy THB using currency exchange when you need it? You will get the best rate that way. cause I have some USD with me, I just would like to save them in the bank. Link to comment Share on other sites More sharing options...
iluvbeaches Posted April 14, 2013 Share Posted April 14, 2013 It has become much more difficult recently. I think some banks want a minimum deposit amount, a number which I can't recall but is quite high (IMO). Also if you are an American looking to deposit USD, don't be surprised if they hand you a U.S. tax form and ask you to sign it. The BoT also has some strict guidelines for where the funds can originate from. Best to approach a bank you already have a relationship with and ask them. Edit: why not use an ATM to buy THB using currency exchange when you need it? You will get the best rate that way. cause I have some USD with me, I just would like to save them in the bank. Maybe a safety deposit box? A few in Bangkok and banks have them though most are taken and long lines. I remember seeing one around Silom in bangkok advertised looked very professional, good security and such. Link to comment Share on other sites More sharing options...
elektrified Posted April 14, 2013 Share Posted April 14, 2013 I would also recommend a safety deposit box. Things are tightening up here. I was recently called by my broker and asked to come in and sign some papers which they told me all foreigners had to sign now. When I got there, I was handed (no joke) about 60 papers to sign. When I asked what it was all about I was told "new anti money laundering legislation and police check." Link to comment Share on other sites More sharing options...
jiangaq Posted April 14, 2013 Author Share Posted April 14, 2013 I would also recommend a safety deposit box. Things are tightening up here. I was recently called by my broker and asked to come in and sign some papers which they told me all foreigners had to sign now. When I got there, I was handed (no joke) about 60 papers to sign. When I asked what it was all about I was told "new anti money laundering legislation and police check." WOW...so amazing! Thanks for your advice anyway. Link to comment Share on other sites More sharing options...
worldtraveller Posted April 15, 2013 Share Posted April 15, 2013 Bank of Ayuthaya has accounts in many currencies including USD, with an ATM card where it converts when you withdraw from your account. Link to comment Share on other sites More sharing options...
Dante99 Posted April 15, 2013 Share Posted April 15, 2013 It has become much more difficult recently. I think some banks want a minimum deposit amount, a number which I can't recall but is quite high (IMO). Also if you are an American looking to deposit USD, don't be surprised if they hand you a U.S. tax form and ask you to sign it. The BoT also has some strict guidelines for where the funds can originate from. Best to approach a bank you already have a relationship with and ask them. Edit: why not use an ATM to buy THB using currency exchange when you need it? You will get the best rate that way. cause I have some USD with me, I just would like to save them in the bank. Depositing cash to a FC account may incur some charge (like 1%). They are best for wire transfers coming in which do not have that fee. Link to comment Share on other sites More sharing options...
dighambara Posted April 15, 2013 Share Posted April 15, 2013 It has become much more difficult recently. I think some banks want a minimum deposit amount, a number which I can't recall but is quite high (IMO). Also if you are an American looking to deposit USD, don't be surprised if they hand you a U.S. tax form and ask you to sign it. The BoT also has some strict guidelines for where the funds can originate from. Best to approach a bank you already have a relationship with and ask them. Edit: why not use an ATM to buy THB using currency exchange when you need it? You will get the best rate that way. ATM is more expensive thn doing the exchange inside the bank (no fee). Link to comment Share on other sites More sharing options...
Chicog Posted April 15, 2013 Share Posted April 15, 2013 Try Standard Chartered Bank. Link to comment Share on other sites More sharing options...
bjohn34 Posted April 17, 2013 Share Posted April 17, 2013 I have several FC accounts at kasikorn bank, but have had them for several years so don't know what the hurdles are now. Link to comment Share on other sites More sharing options...
elektrified Posted April 17, 2013 Share Posted April 17, 2013 I have several FC accounts at kasikorn bank, but have had them for several years so don't know what the hurdles are now. More than they once were and sure to become even more difficult very soon. The most difficult being for Americans to open them. Link to comment Share on other sites More sharing options...
jiangaq Posted April 18, 2013 Author Share Posted April 18, 2013 I have several FC accounts at kasikorn bank, but have had them for several years so don't know what the hurdles are now. It seems no FC account at kbank, am I wrong? Link to comment Share on other sites More sharing options...
Throatwobbler Posted April 18, 2013 Share Posted April 18, 2013 Google Bangkok bank foreign currency accounts. Lots of info there. Link to comment Share on other sites More sharing options...
bjohn34 Posted April 18, 2013 Share Posted April 18, 2013 (edited) I have several FC accounts at kasikorn bank, but have had them for several years so don't know what the hurdles are now. It seems no FC account at kbank, am I wrong? Don't' know hurdles to open now but I have USD, CHF and AUD accounts opened at kbank on Changklan road 2-3 years ago. Look at this link. http://www.kasikornbank.com/EN/Personal/BankAccounts/FCD/Pages/ForResidentAccount.aspx From reading rules appears only available to foreigners who have established residence in Thailand. Edited April 18, 2013 by bjohn34 Link to comment Share on other sites More sharing options...
elektrified Posted April 18, 2013 Share Posted April 18, 2013 I have several FC accounts at kasikorn bank, but have had them for several years so don't know what the hurdles are now. It seems no FC account at kbank, am I wrong? Kasikorn Bank has them but very difficult to open now. Link to comment Share on other sites More sharing options...
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