F.C.D Bangkok Bank account

[Prakhonchai Nick]

I think this is fairly conclusive Coffee

Bangkok Bank

A foreign currency account can be opened as a savings, fixed deposit or current account and can be accessed online via Bualuang iBanking to view account balances and transfer funds into your local baht account.

The minimum initial deposit is USD 1,000 or the equivalent in another currency.

Withdrawal conditions

• Withdrawals can only be made at the branch where the account was opened (a Foreign Currency Deposit Account opened at Bangkok Bank’s Head Office can also be managed at Foreign Currency Deposit Service Branches in provincial areas).
• For withdrawals in foreign banknotes, customers must notify the bank in advance.
• No documents are required to withdraw Baht and deposit into your own account. If withdrawing US$50,000 or more, or the equivalent in another currency, customers must complete a Foreign Exchange Transaction Form

Conditions

1. You must have a baht deposit account as the main account and apply for Bangkok Bank’s Bualuang iBanking service.
2. When transferring funds from your foreign currency deposit account to a baht account:
   2.1 You can transfer to your baht account at Bangkok Bank.
   2.2 Maximum daily transfer limit per customer is 1,200,000 Bt.
   2.3 Transfers made between 9:00am and 4:00pm on a normal banking day
   will be completed immediately.Transactions made outside those hours or
   future dated transfers will be completed at approximately 9.00 am on the
   specified date.
   2.4 The exchange rate used for the requested transfer will be the prevailing
   buying rate of exchange announced by the bank at the time the bank
   effects the transfer.

How to apply

• If you already have a foreign currency deposit account, you can apply for the Bualuang iBanking service at the branch where you opened the account.
• You can also open a foreign currency deposit account and apply for the Bualuang iBanking service concurrently.

 

[Yorky]

Just for my personal information, I was told by Bangkok Bank Surin 14 years ago that I could not have Bualuang iBanking unless I had a work permit. I have closed my accounts in Bangkok Bank since then but I've heard since that the work permit is not now a mandatory requirement.

Is this true? And are there any other current stipulations required for a Farang to obtain internet banking?

 

[Prakhonchai Nick]

Just for my personal information, I was told by Bangkok Bank Surin 14 years ago that I could not have Bualuang iBanking unless I had a work permit. I have closed my accounts in Bangkok Bank since then but I've heard since that the work permit is not now a mandatory requirement.

Is this true? And are there any other current stipulations required for a Farang to obtain internet banking?

I had no problems at Kasikorn, BUT, as a resident maybe I have additional privileges. Over to someone else to answer.

 

[Yorky]

I had no problems at Kasikorn, BUT, as a resident maybe I have additional privileges. Over to someone else to answer.

I have no problem with Kasikorn either; in fact I transferred a lump of cash from Bangkok Bank to Kasikorn at the time (2002) because they had no restrictions in allowing me internet banking. I told Bangkok Bank staff that at the time and received the normal Thai "shrug of the shoulders".

 

[Coffee]

I think this is fairly conclusive Coffee

Bangkok Bank

A foreign currency account can be opened as a savings, fixed deposit or current account and can be accessed online via Bualuang iBanking to view account balances and transfer funds into your local baht account.

The minimum initial deposit is USD 1,000 or the equivalent in another currency.

Withdrawal conditions

• Withdrawals can only be made at the branch where the account was opened (a Foreign Currency Deposit Account opened at Bangkok Bank’s Head Office can also be managed at Foreign Currency Deposit Service Branches in provincial areas).
• For withdrawals in foreign banknotes, customers must notify the bank in advance.
• No documents are required to withdraw Baht and deposit into your own account. If withdrawing US$50,000 or more, or the equivalent in another currency, customers must complete a Foreign Exchange Transaction Form

Conditions

1. You must have a baht deposit account as the main account and apply for Bangkok Bank’s Bualuang iBanking service.
2. When transferring funds from your foreign currency deposit account to a baht account:
   2.1 You can transfer to your baht account at Bangkok Bank.
   2.2 Maximum daily transfer limit per customer is 1,200,000 Bt.
   2.3 Transfers made between 9:00am and 4:00pm on a normal banking day
   will be completed immediately.Transactions made outside those hours or
   future dated transfers will be completed at approximately 9.00 am on the
   specified date.
   2.4 The exchange rate used for the requested transfer will be the prevailing
   buying rate of exchange announced by the bank at the time the bank
   effects the transfer.

How to apply

• If you already have a foreign currency deposit account, you can apply for the Bualuang iBanking service at the branch where you opened the account.
• You can also open a foreign currency deposit account and apply for the Bualuang iBanking service concurrently.

Thank you Nick. Very interesting if the intended translation is correct.

Alan can provide a knowledgable response on his next visit and you can post up your experience on your initial visit.

I for one would be greatly interested in knowing what can be done on-line at Bangkok Bank as I currently play under SCB guidelines that don't allow online transfers from FCAD to bhat accounts.

 

[johnb]

Just for my personal information, I was told by Bangkok Bank Surin 14 years ago that I could not have Bualuang iBanking unless I had a work permit. I have closed my accounts in Bangkok Bank since then but I've heard since that the work permit is not now a mandatory requirement.

Is this true? And are there any other current stipulations required for a Farang to obtain internet banking?

I have had internet banking with Bangkok Bank for more than 10 years. I had to have a proper visa to start with, not just a visa on arrival.

 

[Yorky]

I have no problem with Kasikorn either; in fact I transferred a lump of cash from Bangkok Bank to Kasikorn at the time (2002) because they had no restrictions in allowing me internet banking. I told Bangkok Bank staff that at the time and received the normal Thai "shrug of the shoulders".

Although I stated that there are no restrictions, Kasikorn do not allow transfer to/from Fixed Deposit accounts via internet banking. One must turn up in person (with passbook and I.D./passport) at a branch of the bank.

 

[Prakhonchai Nick]

Although I stated that there are no restrictions, Kasikorn do not allow transfer to/from Fixed Deposit accounts via internet banking. One must turn up in person (with passbook and I.D./passport) at a branch of the bank.

That indeed is very true, and I think one must turn up at the Kasikorn branch where the Fixed Deposit was opened. Other branches wil not deal with it.

Bangkok Bank clearly state internet banking is available for FCD accounts, and go one further to suggest it also applies to fixed deposit accounts as well as savings accounts. We will investigate.

 

[Yorky]

That indeed is very true, and I think one must turn up at the Kasikorn branch where the Fixed Deposit was opened. Other branches wil not deal with it.

The Kasikorn Bank in Robinsons will deal with mine although maybe that is classed as a "sub branch" of the Surin branch (where the accounts were opened).

 

[alanthebuilder]

More news off the bank manager.
You can withdraw or transfer from any major Bangkok bank in Thailand .Also they have internet banking for this account .
I'm very happy to use this bank account and maybe it could be of use to some members .Yorky I'm comparing it with your set up or for 1 minute saying it's better .
I opened this thread as it may be of help to other members . To me it good as I don't have a UK bank anymore .Here are a list of where you can withdraw or trans

Sent from my SM-J700F using Tapatalk

 

[Coffee]

More news off the bank manager.
You can withdraw or transfer from any major Bangkok bank in Thailand .Also they have internet banking for this account .

WOW!
So what you are explicitly stating is that one can move funds from their Foreign Currency Deposit Account (FCDA) held by Bangkok Bank into their or anybody's Thai bhat account on-line without having to bring one's FCDA passbook in person to a Bangkok Bank branch.
Is that correct ?

 

[Prakhonchai Nick]

Thanks Alan
I think you have now confirmed beyond all reasonable doubt that with a Bangkok Bank FCD account, you can transfer out at the TT rate at the time of transfer into another savings account using internet banking. You can of course withdraw cash in baht by going to a Branch on your list

 

[Yorky]

Given all the information on this thread it is now obvious that the FCD at Bangkok Bank is the way to go. Other banks appear to be lagging behind in respect of 21st century facilities for their customers.

[Edit: Who is going to bite the bullet and suggest at what exchange rate the first move should be made?]

 

[alanthebuilder]

Thanks Alan
I think you have now confirmed beyond all reasonable doubt that with a Bangkok Bank FCD account, you can transfer out at the TT rate at the time of transfer into another savings account using internet banking. You can of course withdraw cash in baht by going to a Branch on your list

I took out a little this morning and got 43.9 B
Not bad .
I think by next week it could hit 45 up .
But no big deal ether way .


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[Coffee]

Sad that years I ago I attempted to open FCDA at Bangkok Bank and was told to come back the next day as the main man who speaks English named Piriya was unavailable.

I went to Kasikorn and SCB and was able to open FCDA accounts...though they didn't manage English so well.

A flip of the coin. The wheel keeps turning.
Good on Bangkok Bank to accomplish this feat.

 

[Coffee]

I took out a little this morning and got 43.9 B
Not bad .
I think by next week it could hit 45 up .
But no big deal ether way .
Sent from my SM-J700F using Tapatalk

Did you accomplish this transaction on-line or in person at the bank branch where you opened your FCDA ?

 

[Prakhonchai Nick]

Did you accomplish this transaction on-line or in person at the bank branch where you opened your FCDA ?

Alan said "I took out a little this morning and got 43.9 B" That would suggest he went into the bank. The actual Bangkok Bank TT rate this morning was 43.98250

 

[Yorky]

The Kasikorn Bank in Robinsons will deal with mine although maybe that is classed as a "sub branch" of the Surin branch (where the accounts were opened).

However, I received this information by email this morning: "If you would like to deposit or withdraw from Fixed Deposits, you need to bring your passbook and passport contact any Kasikornbank branch. K-Cyber Banking can view Fixed Deposits balance or statement only."

 

[Coffee]

One last thing that you as experienced expats in due course would knowingly inquire of any financial institution - is my account insured...and what is the maximum amount covered per Foreign Currency Account ?

In person, Nick...so what was the answer to this simple question ?

 

[Pat]

I have had an FCD account with Bkk Bank for a few years now. But in SEK.

Works like a charm.

Everybody should have one.