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40
THAILAND LIVE Thailand Live Friday 20 June 2025
Rapid Growth in Foreign Currency Deposit Accounts Driven by Young Investors File photo for reference only Foreign Currency Deposit (FCD) accounts have seen significant growth, largely fuelled by younger investors seeking higher returns. As of April 2025, FCD accounts in Thailand numbered 4.33 million, a remarkable 71.6% increase from the start of the year and 433% from the previous year, according to Kasikorn Research Center (K-Research). Full Story: https://aseannow.com/topic/1364301-rapid-growth-in-foreign-currency-deposit-accounts-driven-by-young-investors/ -
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Question about changing from Money in the Bank to Income Method for Retirement EOS
Thanks for all the great advice on this forum, it's been most helpful so many times- have a question today if anyone can answer please do: After many years of work visas and tourist visas am now over 50 and am seeking to change from the tourist visa when visiting to the Retirement visa on an annual basis. Have saved up the 800 thousand Baht and am ready to transfer the funds from the States if necessary and apply for the change of visa to a Non-O Retirement Visa. The IO in Chiang Mai said to first open a Thai bank account, transfer the funds, wait seven days, and then apply for the Non-O Retirement. Went to my old bank in Chiang Mai and they said my account was closed due to non-activity while I was visiting home in the States- wonderful. Tried to re-activate the Thai bank account and they said no way- citing Thai Central Bank law that requires--- a Non-O Visa Stamp to open a Thai bank account. Same with every other bank in Chiang Mai- they all say 'cannot' citing the same law. So, now I'm in a fix- can't get the Non-O stamp without the Thai bank statement, and can't open a Thai bank account without the Non-O stamp. Thus, if the bank statement has to be from a Thai bank, then how to open a Thai bank account without the Non-O stamp which seems to require showing 800k in funds transferred from abroad. Also: Is it possible that after filling out the application for the TM.87 or TM.86 that this would be acceptable for beginning the Non-O process and maybe be acceptable for the Thai bank to open an account? Or does all of this have to be done at the Thai consulate in the States showing funds from a local bank there? However, in that case it's still not clear as to how to open a Thai bank account from that location and transfer the funds to a Thai bank. Meanwhile I'm being directed in circles from the Immigration office to the Thai Banks to open an account, and then the Thai bank staff tell me to go back to Immigration for the Non-O stamp where the IO says go back to the Thai bank etc. Any advice would be most welcome- thanks -
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Economy Rapid Growth in Foreign Currency Deposit Accounts Driven by Young Investors
File photo for reference only Foreign Currency Deposit (FCD) accounts have seen significant growth, largely fuelled by younger investors seeking higher returns. As of April 2025, FCD accounts in Thailand numbered 4.33 million, a remarkable 71.6% increase from the start of the year and 433% from the previous year, according to Kasikorn Research Center (K-Research). The total deposits in these accounts reached 25.5 billion baht, showing a growth of 4.5% year-to-date and 15.5% year-on-year. Individuals accounted for most of this surge, with 4.25 million accounts, experiencing a 73.6% increase year-to-date and 467% year-on-year. The deposits from individual account holders amounted to 2.46 billion baht, representing a year-on-year rise of 105%. Kanjana Chockpisansin, head of banking and financial sector research at K-Research, noted the steady increase in demand for FCD accounts over the past decade, with significant growth in the last three years. This trend is attributed to increased interest from depositors and proactive marketing by banks offering these accounts as alternatives for better returns. Despite the appeal of higher interest rates from FCD accounts, Chockpisansin cautioned depositors about foreign exchange risks in the current volatile market. Siam Commercial Bank (SCB) anticipates continued double-digit growth in new FCD account openings. Patrick Poulier, SCB's first executive vice-president and head of financial markets, highlighted that younger, tech-savvy individuals are particularly drawn to these accounts for superior returns. SCB has facilitated access to FCDs through its mobile app, SCB Easy, under the brand e-FCD, attracting considerable interest from this demographic. Poulier reported that SCB has seen annual FCD account growth rates between 50-100%, depending on the account type, and aims for continued robust growth this year. He also noted a broader trend among Thai investors towards international investment opportunities, influenced by declining domestic interest rates. The SCB Economic Intelligence Center forecasts two policy rate cuts by the Bank of Thailand this year, potentially lowering rates from 1.75% to 1.25%, further encouraging the shift towards FCD accounts. Adapted by ASEAN Now from Bangkok Post 2025-06-20 -
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Report Tourist Overcharging Allegations at Damnoen Saduak Floating Market
Overcharging at Damnoen Saduak (and Thailand in general)... The sky must be falling! 😆 -
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Russia to jail citizens up to five years in prison for studying English
I'm as anti-Putin regime as they come but this is misleading. You certainly can legally study and also treach English in Russia. Many of the Z type "traditional valiues" westerners are moving there to start their "careers" doing just that. There is more than enough real disgusting stuff that the Russian regime does. No need to exagerrate. -
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