Looking for a Foreign Currency Account with a local Thai bank.

[silvester2]

Usually local Thai banks charge 1% for foreign cash deposit.

Any recommendations for local Thai banks with lower fees or even free service?

[thrilled]

Good luck with that As far as I know all Thai banks work with Thai Baht.I mean of course they'll change money.

But as far as bank accounts go they do it in Thai baht.

[silvester2]

Good luck with that As far as I know all Thai banks work with Thai Baht.I mean of course they'll change money.

But as far as bank accounts go they do it in Thai baht.

I guess you are not up to date.

Local Thai banks offer so called "foreign currency accounts" for e.g. EURO, USD, HKD...

[Chao Lao Beach]

1% on deposit, then 1% on withdraw (or 1% fee applied first before changing it to a foreign currency on withdrawal.)

[Baerboxer]

Bank of Ayudha / Krungsri

I have a GBP and USD Foreign Currency Account. I can transfer money straight into them and hold in GBP or USD and then convert all or part balance when the e/r is good.

The bank charges here are GBP 10 equivalent which I pay when setting up the transfer. No extra charges on receipt when converting to THB and moving to one of my baht accounts. There is a minimum balance of equivalent GBP 350 / USD 500 which must be maintained.

[nahkit]

I recently opened a US Dollar account with Bangkok Bank. I was told that there was a charge if I deposited cash but no charge if the money was transferred directly into the account.

[muratremix]

Even in Singapore they Charge 1% deposit / 1% withdrawal fees.

It was 1.5 percent in Thailand.

Singapore (Citi) does not cut 1% from Bankwire transfers and doesn't cut if you withdrawal money from overseas via ATM.

[jacko45k]

Good luck with that As far as I know all Thai banks work with Thai Baht.I mean of course they'll change money.

But as far as bank accounts go they do it in Thai baht.

As far as you know seems to be the tip of your toes.

[jardalee]

I have an AUD account with Bangkok Bank. They don't charge anything for transfers and they give the TT rate rather than the buy notes rate when I shift it to my baht account.

[rotary]

I have had 2 different US$ account in Thailand. With all the rules, regulations, and extra cost issues the last think you want is a US$ account in Thailand. Check all the details including deposit issues and withdrawal issues.

[gwynt]

I am paid in $US into my $US account, last year I was paid in GBP into my GBP account no charges in or when I change to Tb. Only when I send money to UK then normal charges apply.

SCB an Sai 2.

[topt]

Op I think you will find all the banks charge for a cash deposit to a foreign currency account and my guess would be all at 1%.

If you want to keep it in foreign currency and not pay charges your only option is to put it under the mattress or similar - or keep it in your own country bank.

[Postmaster]

Thrilled : you are giving out wrong information. Amazing for a poster with over 2000 postings. You are well out of date. Most of the good thai Banking Institutions

offer a Foreign Currency receiving Account. Sedn money in your currency held in the International Account until you are ready to convert when the rates are good

into local Thai currency.

[affen02]

Bangkok Bank started up with foreign accounts a few years back. No problem. If i need to change to Bth from my NKR acc, i also get the best rate T/T

[bangkapi]

It's crazy.... I thought of doing it many times.. It's better just to keep it in baht which pays interest and then change to foreign currency at super rich when needed.

Any transferring that needs to be done can be done online while keeping your foreign currency in its original country. IMHO

[alexmaniax]

Go to to cambodia, open $- account, get 4,5 % ! No costs ex. 15% on interest!

I have an account since 7 years ( Canadia Bank) NEVER ANY PROBLEM!

[noodle]

"Usually local Thai banks charge 1% for foreign cash deposit"

If you walk into a Thai bank with a bunch foreign currency my guess is that they would not allow you to add it to an FCD.

Depending on your circumstances (e.g. Thai employment) the bank would allow you to transfer from a Baht account to your FCD.

[topt]

"Usually local Thai banks charge 1% for foreign cash deposit"

If you walk into a Thai bank with a bunch foreign currency my guess is that they would not allow you to add it to an FCD.

Depending on your circumstances (e.g. Thai employment) the bank would allow you to transfer from a Baht account to your FCD.

Wrong guess - see here for Bangkok Bank as an example http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/ForeignCurrencyAccount/Pages/FCDFees.aspx

Some currencies they even charge more than 1% for cash