Foreign Currency Deposit Account (Bangkok Bank)

[Blackwell 288]

I am looking at moving to Pattaya next year, probably on a retirement visa (or visa extension based on). I am 68, and have been retired in Australia for almost 3 years. Unfortunately, the Aussie Dollar is currently on its downward spiral, and will most likely move lower next year. The AUD is historically volatile, and a reasonable expectation would be for it to recover and head back close to parity to the USD. For this reason, I am reluctant to exchange to much AUD for Baht.

However, I note that the Bangkok Bank does have Foreign Currency Deposit accounts, which seem very simple to open. According to their website, all that is required (if on either Tourist Visa or Long-Stay visa) is your passport and a certified copy (from Embassy) of your passport. Deposit and Withdrawal fees are a bit high.

Only branches listed on their web site are in Bangkok, and only a few of these have FCD accounts.

Question.

Are there branches (of Bangkok Bank) in Pattaya where you can open a FCD account? (I could not find this information on a search of the web or this forum).

Can the 800,00 Baht required for visa extension be in foreign currency equivalent?

I do note there are a few postings regarding the Bangkok Bank on this forum, but they all appear to be about the US/ Bangkok Bank relationship. Obliviously opening a BB account in New York is not a option for me.

Thanks for any feedback.

[forcebwithu 4,834]

Best bet is to go to the BB main branch on 2nd Rd across from Soi 6. My experience, and from what others have reported is they're more familiar with dealing with expat questions, such as yours than the other, smaller branch offices.

Regarding FD accounts, IIRC, a few have gone this route for the money in the bank requirement. Probably best to stop in at the immigration office and confirm they'll accept this type of account.

[jacko 8,807]

1 hour ago, Blackwell said:

Are there branches (of Bangkok Bank) in Pattaya where you can open a FCD account? (I could not find this information on a search of the web or this forum).

Yes, I have a friend who opened a Sterling account in Pattaya.

1 hour ago, Blackwell said:

Can the 800,00 Baht required for visa extension be in foreign currency equivalent?

Yes, certainly in Pattaya. It needs to be in a Thai based account and the money is immediately accessible. 

 

Edited October 17, 2019 by jacko

[Blackwell 288]

thanks for the answers. The concept of a FCD account is more appealing to me, especially with the AUD currently so low.

The Bangkok Bank site (link below) suggests that opening an account with them is just so easy, almost in that category of “too good to be true”. I expect to be there in either November or January, so I will try with them.

https://www.bangkokbank.com/-/media/files/personal/other-services/branch-services/international-branches/fcd_expat.pdf?la=en&hash=1B0B689C0A49EEFBB89232262CF1DAF23FC55920

 

 

 

[4niceight 32]

I have a FCD account with Bangkok Bank in Jomtien and also a FCD account with Siam Commercial Bank in Jomtien. Both are GBP accounts. The Bangkok Bank account took about a week to get opened but the SCB account was opened immediately for me. I am certainly able to use the funds therein to qualify for my retirement extension.