Bangkok Bank FCD Account

Prakhonchai Nick

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Do any Brits have their state pension paid into Bangkok Bank FCD account? The Pension service have advised that they cannot pay into a bank account where the account number is longer than 10/11 digits. Bangkok Bank FCD account has 19 digits!
 
This doesn't directly answer your question but would the system of paying into BKB London then onto Thailand work for the FCD,?
 
This doesn't directly answer your question but would the system of paying into BKB London then onto Thailand work for the FCD,?
It might, but then there is the problem of opening an account at Bangkok Bank London for the Thai person. Wants to keep the money in £ sterling for several years in the hope of a higher rate later on. Considered Transferwise (WISE), but she would not be able to operate the account without help.
 
It might, but then there is the problem of opening an account at Bangkok Bank London for the Thai person. Wants to keep the money in £ sterling for several years in the hope of a higher rate later on. Considered Transferwise (WISE), but she would not be able to operate the account without help.


I believe that don't actually open an account.......it is a UK sort code and account number that then transfers to money to a BKB account in Thailand.
 
Ten minutes ago Bangkok Bank FCA exchanged USD at 33.50 while actual XE-rate was showing ~33.63.

(I popped it.)
 
Ten minutes ago Bangkok Bank FCA exchanged USD at 33.50 while actual XE-rate was showing ~33.63.

(I popped it.)


TT rate or cash?


Wise is quoting 33.64 which after charges nets down to 33.346 on a US$ 1,000 transfer.
 
TT rate or cash?


Wise is quoting 33.64 which after charges nets down to 33.346 on a US$ 1,000 transfer.

You're the banker.
Tell me which one do you believe holdings in a Foreign Currency Acct with Bangkok Bank would exchange at ; the T.T.-rate or the various denomination 'cash' rates ?
(Just wondering.)

If you answer T.T. you would be correct. ;-)
 
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Unfortunately Wise seem to get clobbered with higher expenses when dealing with US$. With £ Sterling, their rate is always better than Bank TT rates
 
You're the banker.
Tell me which one do you believe holdings in a Foreign Currency Acct with Bangkok Bank would exchange at ; the T.T.-rate or the various denomination 'cash' rates ?
(Just wondering.)

If you answer T.T. you would be correct. ;-)
Your answer should have been:-

1. Cash

2. TT

I was a banker not a fookin clairvoyant.
 
Sorry mate. (Too much caffeine. :p )
I apologise to you @CO-CO , apparently you've not had dealings with Foreign Currency Accounts held at Thai banking institutions.
Everything that moves out of these accounts are at the T.T.-rate.

I do recall years back some Thai banking assistants not understanding that and incorrectly calculating exchanges from FCAs into THB Savings accounts as cash-quotes prior to a manager being called to assist in correctly handling the exchange.

From what I've experienced T.T. has always been higher than cash although an FCA has no deposit insurance coverage so therein lies the trade-off.

(Personally I utilise the FCA for my extension of Retirement Visa along with large transfer mitigating transfer handling fees stateside.)
 
When a transfer is made from an FCA it is indeed the then TT rate that is used, but no commission charges. These charges are made when the money from overseas is first transferred into the FCA, just as commission is charged if it is sent from overseas. to an ordinary savings account .
 
Sorry mate. (Too much caffeine. :p )
I apologise to you @CO-CO , apparently you've not had dealings with Foreign Currency Accounts held at Thai banking institutions.
Everything that moves out of these accounts are at the T.T.-rate.

I do recall years back some Thai banking assistants not understanding that and incorrectly calculating exchanges from FCAs into THB Savings accounts as cash-quotes prior to a manager being called to assist in correctly handling the exchange.

From what I've experienced T.T. has always been higher than cash although an FCA has no deposit insurance coverage so therein lies the trade-off.

(Personally I utilise the FCA for my extension of Retirement Visa along with large transfer mitigating transfer handling fees stateside.)

No apology necessary, my error.

I do indeed have experience of BKB FCDs.

I misread your post in that I did not notice "FCD". My (unnecessary) question was about whether the rate you were quoting was for cash or TT.
 
Just popped in at 33.75 FCA transaction as XE.com 10:50 AM quoted 33.87 .

I'll give it a break for now as I should be set with THB for awhile...unless there comes a transaction point >34.
 
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