F.C.D Bangkok Bank account

alanthebuilder

alanthebuilder

Administrator
http://www.bangkokbank.com/BangkokB...nts/ForeignCurrencyAccount/Pages/Default.aspx

This might come in useful .
I just got one of these , its fast to transfer 2 days this time and once the money lands you can keep an eye on the rate and pick and choose when to withdraw .
The money stays in the currency you send .
Cost to send up to 10.000 pounds cost 30 pounds only from a bank in the UK no other added charges .
It gives the the transfer rate also thats sightly better than exchange rate from the bank .
I will let you know how it goes as I use it .
 
Presumably the £30 is the UK bank sending charges. Different UK banks have different charges

I understood that the receiving bank..Bangkok in this instance -still charged their normal commission on incoming fund transfers, but that withdrawals were at Telcx rate at the time of withdrawal

Do not understand this comment..."It gives the the transfer rate also thats sightly better than exchange rate from the bank" There is no transfer rate as it comes over in £sterling

Need to ascertain that when withdrawing (ie transferring out of £ and into sterling) that it really is the current telex rate being used and not the "note" rate.
 
I assume the interest rate on the account is the same as that prevailing in the country from which it was sent (in UK case SFA).
 
On checking the FCD at Kasikorn, the interest rate for Sterling is 0.15%, US$ is 0.04%, Euro is 0.00%
 
The money landed only charge was £30 from UK standard charge from most banks .No other charges .
The rate is set in Thailand at the mo between 42 and 43 I will get the exact amount tomorrow when I pick up my book . You can deposit foreign money in this but they do charge 2 % .
I'm very happy with the service so far .
I see the rate they give was better than UK banks also better than transwire and they give a very good rate .
I will get more facts tomorrow .
Now I can draw the money as and when I want .



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My norm is to transfer Sterling from NatWest International directly to my Kasikorn account here where it is converted to Bht at their rate prevailing at the time of the transfer. The transfer cost from NatWest is Sterling 15.00 and the transfer is effected within 1 hour (afternoon Thai time). The Kasikorn charges are: 0.25% (min Bht 200.00, max Bht 500.00) + 0.1% (no limit) + 20 Baht.

Obviously I shall not be transferring any monies in the foreseeable future.
 
This bank account tranfare is in sterling and the bank holds it in sterling that's why I decided to use this system.


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I forgot to say sorry .
The first transaction must be over £600 That's what they said .no idea why but as I was trans more no worrys .
Another thing max trans from UK under £10000 So 99999 it is then

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Alan, do you actually read your posts before/after posting ?
 
Clarification please Alan.

1) The transfer from the UK must be between £601 and £9,999.
2) The money is deposited into the Thai account in £ Sterling
3) The Bangkok Bank make a charge for bringing the money in. This is I believe 0.25% (min 200bt, max 500bt + 0.1%) Please confirm that the banks charges apply to the total value in Baht of the inward transfer calculated at TT rates on the day the money ws received. - even though the money remains in £ Sterling
4) Withdrawals in Baht of any amount are transacted at the TT rate at the time of withdrawal, (Withdrawals can be made in cash, or transferred to another account, either online, or in the bank) ---and that there is no further admon charge.

Thanks
 
Prakhonchai Nick said:
Clarification please Alan.

1) The transfer from the UK must be between £601 and £9,999.
2) The money is deposited into the Thai account in £ Sterling
3) The Bangkok Bank make a charge for bringing the money in. This is I believe 0.25% (min 200bt, max 500bt + 0.1%) Please confirm that the banks charges apply to the total value in Baht of the inward transfer calculated at TT rates on the day the money ws received. - even though the money remains in £ Sterling
4) Withdrawals in Baht of any amount are transacted at the TT rate at the time of withdrawal, (Withdrawals can be made in cash, or transferred to another account, either online, or in the bank) ---and that there is no further admon charge.
Click to expand...

And: does the amount deposited attract interest at a rate not dissimilar to the UK BoE base rate (currently 0.25%)?
 
Yorky said:
And: does the amount deposited attract interest at a rate not dissimilar to the UK BoE base rate (currently 0.25%)?
Click to expand...


FCA's are mainly current accounts - usually no interest.


Some banks offer FC Deposit accounts with minimal interest. I have seen FCD's with a negative rate of interest.
 
Kasikorn is currently offering 0.15% on a Sterling deposit account. I have no idea what the withdrawal "regulations" are.
 
I just checked:

1. Savings 0.15%

2. Fixed
1 Month 0.25%
3 Month 0.35%
6 Month 0.50%
9 Month 0.55%
12 Month 0.60%

Of course with a fixed deposit you don't have the facility to withdraw whenever you discover a favourable exchange rate.
 
The forum actually has a Finance (Banking matters) topic section. ;;dropped eyes;;

Why the heck these meandered flutterings are in the Chit Chat section never to be found again after six months must be a sign of the times. Well done.
 
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