Foreign Currency Deposit (FCD) for Resident Account  (  )

If you have income and expenditure in foreign currency and are exposed to foreign exchange risks, our FCD services can help you. With the opening of FCD account, you will be able to deposit and withdraw your foreign currency-based funds and obtain the highest efficiency and service in managing your international transactions.

 Eligible Customers:

• Foreign nationals permitted having permanent residence in Thailand
• Thai individual
• Thai nationals having trade deals with foreign trade partners  
• Establishments, institutes or companies registered in Thailand
• Offices, branches and representatives in Thailand of non-residents 
• Thai governmental departments, public organizations, government agencies and state enterprises 
• Juristic persons under specific laws or government officials/employees of Thai governmental departments, public organizations and government agencies working abroad.
• Institutional investors as stipulated by the Bank of Thailand, i.e., the Government Pension Fund, Social Security Fund, provident funds, mutual funds (excluding private funds), securities companies and insurance companies

Sources of Deposit (According to BoT regulations)

• Foreign income, i.e., acceptance of bill payments, service fees, payments on loans or interest on loans or foreign direct investment, including other types of income.
• Domestic income.
• Foreign currency from your BIBF borrowing that you want to deposit in the FCD account.  
• Funds transferred from your other FCD accounts.
• Funds transferred from accounts of Thai governmental departments, public organizations and state enterprises to accounts of government officials/employees working abroad.            

Withdrawal criteria (according to BoT regulations)  You have to show evidence supporting your withdrawal for the following purposes:

• Settlement of foreign currency loans and interest.
• Payments on goods and services or loan extension or investment for individuals or businesses overseas.
• Transfer to your another FCD account.
• Withdrawals of funds from a Thai governmental account, public organization or state enterprise for transfer to an account of a government official/employee working abroad.
• Conversion into other currencies or Baht.

Submission of Foreign Exchange Transaction Form

10 Foreign Currencies Available for Foreign Currency Deposit

• US Dollar (USD)
• Singapore Dollar (SGD)
• Australian Dollar (AUD)
• Canadian Dollar (CAD)
• Hong Kong Dollar (HKD)
• Japanese Yen (JPY)       
• Pound Sterling (GBP)
• Swiss Franc (CHF) 
• Euro (EUR) 
• Chinese Yuan (CNY)

Deposit methods

• Buy foreign currency to deposit in FCD account
• By foreign banknote which has different criteria for each group of customers according to BOT regulation;
• Thai individual/juristic person: can deposit only 10,000 USD or equivalent per day. In addition, in case of source of deposit is from abroad, customer must show source of fund’s document on the deposit date.
• Governmental Departments, Public Organizations, State Enterprises, Government officials working abroad has no limit on deposit amount.
• By foreign travelers cheques
• By foreign drafts
• By inward remittances

Withdrawal methods  

• By receive foreign banknotes.
• By receive travelers cheques.
• By receive foreign drafts.
• By outward remittances.
• By withdraw funds from an FCD account to obtain Baht.
• By transfer to other FCD Account of the same name.

Required Documents for Account Opening

Individuals

• Citizen ID card or other ID card issued by or related to government agencies
• House Registration Certificate or other related documents

Juristic persons registered in Thailand

• Memorandum of Association and Articles of Association
• Original Affidavit issued by Bureau of Business Registration, Department of Business Development, Ministry of Commerce not more than 1 month from the date of issue
• Commercial Registration registered at the Revenue Department 
• Taxpayer’s ID Card of the Company
• Value Added Tax Registration of the Revenue Department
• The minutes of the Board of Directors meeting approving the opening of the bank account and indicating authorization and conditions of  the payment duly signed by the authorized signatory with the company seal
• Citizen ID Card or Passport and Household Registration Certificate of all directors holding authorized signatories of the company 
• Shareholder list

Governmental departments, public organizations, state enterprises and juristic persons under specific laws             

• Letter of Intent for the opening of an account with the Bank stating authorization and conditions of payment
• Citizen ID Card of authorized signatory with a photocopy certified as true by the head of related governmental department, organization or unit.

Depositing Procedures

Thai residents (except governmental departments, public organizations, government agencies, state enterprises of Thailand or government officials/employees in governmental departments, public organizations and government agencies working abroad) must submit evidence of obligation to repay foreign currency debts of themselves or any subsidiary where their shareholding is at least 50 percent within a period of six months from the deposit date. The amount deposited must not exceed the amount of obligation to repay in foreign currency to the following parties:

Sources of Deposits

• Inward remittance
• Foreign currency BIBF borrowings
• Interest received from FCD accounts    
• Money transferred from other FCD accounts in the same name.
• Funds transferred from FCD accounts of Thai governmental departments, public organizations, government agencies, state enterprises to other accounts of Thai governmental departments, public organizations, government agencies, state enterprises or accounts of government officials/employees in governmental departments, public organizations and government agencies working abroad. 
• Foreign bills (paid by other banks) collected or demand drafts (paid by KASIKORNBANK)
• Foreign bank notes under conditions for foreign banknote purchases and deposits (except Thai governmental departments, public organizations, government agencies and state enterprises):
  • Showing evidence of sources of foreign bank notes
  • Deposited amount per day must not exceed USD 10,000.00 or equivalent at market rate in case of other currencies.

Withdrawal Procedures

Thai residents must submit evidence for fund withdrawals for the following purposes:

• For settlement of  foreign currency loans and interest to authorized agents or Export-Import Bank of Thailand
• For payment of goods or transfers to repay individuals or juristic persons abroad via outward remittance, demand draft or foreign bank notes
• For transfer to another FCD account in the same name.
• Withdrawals of money from Thai governmental departments, public organizations, government agencies and state enterprises for transfer to their other accounts by showing evidence of obligations for repayment of foreign currency debts; or transfers to accounts of government officials/employees in governmental departments, public organizations, government agencies working abroad without presentation of obligation
• For conversion into other currencies or Baht

Conversion of Foreign Currencies

• Thai residents can convert the currency into other currencies prior to depositing. The currency to be deposited does not need to be the same as that of the obligation.
• Thai residents can withdraw and convert the currency to be deposited into other currencies by:
• Presenting evidence of obligation to repay foreign currency debt upon conversion
• Depositing in another FCD account in the same name.

Submission of Foreign Exchange Transaction Form

• Thai residents who wish to deposit-withdraw foreign currency in the amount of USD50,000 or higher or equivalent in case of other currencies must submit a foreign exchange transaction form to the Bank.
• Thai residents who wish to deposit-withdraw foreign currency in the amount of less than USD50,000 or equivalent in case of other currencies must inform the Bank of the purpose of their transactions

FCD Interest Rates

    Click here   to see Interest Rates

Tax on Interest Rate

      - Thai individual            15%
      - Thai juristic person       1%

FCD Fees for Residents and Non-residents

Note: * Additional service fees are excluded (if applicable).
          Kbank reserves the right to change the terms and conditions above without prior notice.

Click here  to see FCD Fee Charges

Click here  to see Condition & Fee for FCD Account 

Branches in Services

Click here  to see FCD Services Branch

For more information Please contact our K-Contact Center at 0 2888 8888.

Deposit Procedures  are different among 3 groups of customers:

1. Thai individual/juristic persons are segmented into 2 types

Type I: Customers that have foreign currency receipts from abroad

-  Account for foreign currency receipts from abroad without submission of evidence of obligation

Type II: Customers that do not have foreign currency receipts from abroad   can have 2 types of accounts;

1. Account for no foreign currency receipts from abroad with submission of evidence of obligation

• As of the deposit date, customers must submit related evidence on the obligation to repay foreign currency debts incurred by them to foreign individuals or juristic persons or commercial banks (Debts incurred will be repay at any period and deposit amount allow to not more than foreign currency debts incurred). ,Related evidence including sales contracts, loan contracts, invoices
• Maximum balance (all currencies of all accounts of the same depositor, according to BOT regulations)
  • Not exceeding USD 1,000,000 or equivalent for individual. 
  • Not exceeding USD 100,000,000 or equivalent for juristic person.

(If deposit is more than maximum balance, customer are permitted to deposit not exceeding to the debt incurred to repay with in 12 months from the deposit date which must be show on deposit date) 

2. Account for no foreign currency receipts from abroad without submission of evidence of obligation

• Customers are not required to show evidence of an obligation to repay foreign currency debt
• Maximum balance (all currencies of all accounts of the same depositor, according to BOT regulations) 
  • Not exceeding USD500, 000 or equivalent for individual. 
  • Not exceeding USD500, 000 or equivalent for juristic person.    

2. Governmental Departments, Public Organizations, State Enterprises, Government officials working abroad

• Customers are not required to show evidence of an obligation to repay foreign currency debt
• Maximum balance : No limit

3. Institutional investors as stipulated by the Bank of Thailand, i.e., the Government Pension Fund, Social Security Fund, provident funds, mutual funds (excluding private funds), securities companies and insurance companies

• Deposit of foreign currency income earned from selling securities abroad or from a return on investment in foreign securities for reinvestment.
• Customers are not required to show evidence of an obligation to repay foreign currency debt
• Maximum balance (all currencies of all accounts of the same depositor, according to BoT regulations)
• Not higher than USD52,000,000 or the equivalent at the market rate in other currencies (but it must not exceed the  amount of foreign investment that you have been permitted by the institutional regulator)