And if so can you confirm whether its possible or not to transfer GBP overseas directly from the GBP account. BKK bank are telling me I have to change it to Baht first.....

I did tag this question onto the end of an older post, apologies if anyone's seeing it twice

Is this an FCD account with BKK?

How did you put the GBP into it?

I cannot speak to Bangkok Bank, however I have a FCD account with Kasikorn and was able to transfer sterling from UK direct to that account without exchanging it into Baht, hence FCD. Should I transfer any of that money into another account other than the FCD then it would be changed to Baht.

Is this an FCD account with BKK? How did you put the GBP into it?

Yes its a foreign currency (GBP) account with Bangkok bank. I sent money to it from the UK. Now I want to get the GBP out.

I cannot speak to Bangkok Bank, however I have a FCD account with Kasikorn and was able to transfer sterling from UK direct to that account without exchanging it into Baht, hence FCD. Should I transfer any of that money into another account other than the FCD then it would be changed to Baht.

Yes sounds same as my situation.

Not sure if this will help but you can certainly transfer funds in any GBP a/c in the UK via BBL's London branch to a BBL a/c in Thailand. I found it surprisingly easy and fast and relatively good value. From your perosnal a/c or from (eg) a pension/annuity. See

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

and/or call the London branch (customer service) Very helpful lady there.

You have a choice of conversion in London or BKK - makes very little difference, frankly; my UK bank used BACS and it took 3 days till the money was in my BBL a/c in BKK

Doesn't sound right to me - but then again stranger things happen here. Here's BOT regulations, and I don't see anything requiring that either

http://www.bot.or.th/english/foreignexchangeregulations/fxregulation/pages/exchangecontrollaw.aspx

Which branch of BBL? They don't all deal with FCY transfers and service varies. Might be worth trying again with someone else form Head Office

Also may depend on the type of FCY account you have, as different accounts will have different T&C

For Stan Chart I believe it's possible, as they show withdrawal by SWIFT/ Telex in FCY charges as below, and mention nothing about the need to convert into baht then back to say USD

https://www.sc.com/th/interest-fees/_documents/e_FCY_Fee_dep_20120815.pdf

To be honest FCY accounts in Thailand are usually not good value for money, have poor rates, and high levels of fees compared to what you get elsewhere. So particularly for expats it often makes commercial sense to keep any FCY somewhere other than Thailand.

Cheers

Fletch

Take your passport, FCD passbook and all transfer details including IBAN to a branch of BKK and make the transfer (needs to be the originating branch if it is not a head office issued FCD).

Since the GBP is sitting in an FCD it has not entered the Thai currency system so there is no issue re-exporting the foreign currency. There will be a commission, it is 0.25% for USD, no idea for GBP. Also a fee of Baht400.

Take your passport, FCD passbook and all transfer details including IBAN to a branch of BKK and make the transfer (needs to be the originating branch if it is not a head office issued FCD).

Since the GBP is sitting in an FCD it has not entered the Thai currency system so there is no issue re-exporting the foreign currency. There will be a commission, it is 0.25% for USD, no idea for GBP. Also a fee of Baht400.

2 different call centre staff told me over the phone that my FCD account is only for receiving baht and I'd have to transfer to my baht account to do any outward transfers. Its a shame I can't try in the actual branch.

An FCD account is primarily for receiving foreign currency by SWIFT or whatever from a foreign source.

The foreign currency may then be SWIFT transferred to another country or the currency may be exchanged to Baht into a Baht account or cash or the currency can be left in the FCD account and earn a minimal interest.

Under some circumstances you may deposit exchanged Baht into the FCD account - e.g. if you are employed and want to make tranfers to another country, but the FCD account is not essential to do that.

Sounds like the cc staff misinformed you or you misunderstood.

Edited June 2, 201412 yr by noodle

Check they don't charge 1% for you to deposit GBP into your BKK GBP account and then 1% on the withdrawal. That used to be the case a while ago.

I have a Bangkok Bank foreign currency account. I send GBP from the UK and it sits in this account as GBP.

Even in the passbook it is in GBP.

The account is managed in BKK, but can update in local branch.

You can also transfer money (and convert) the GBP to your THB account online when necessary.

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