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Exotic Currency

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Key Features​​
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รายละเอียดการใช้บริการ
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What is this product?
  • Funds transfer service offering local currencies to facilitate cross-border trade
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Target customers
  • ​Thai import-export businesses conducting payment transactions with AEC+3 trade partners
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How does this service differ from funds transfer via key currencies?
  • For outward transfer, a local currency is converted into USD to pay for goods. Upon receiving the funds, the trade partner in the foreign country will have to convert them into their local currency. Meanwhile, this Exotic Currency service facilitates funds transfers in the local currencies, thus streamlining the cross-border transfer processes between the recipients and the payers.
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Which currencies are available?

Cambodian Riel, Brunei Dollar, Philippine Peso, Vietnamese Dong, Myanmar Kyat, Malaysian Ringgit, Lao Kip, Indonesian Rupiah, Singapore Dollar, Chinese Yuan, Korean Won and Japanese Yen

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Benefits of this service​

For Thai Importers

For Thai Exporters​

  • ​They pay less for the goods because trade partners don’t have to include the exchange risk costs against the key currency (USD) into their prices.​

 

  • ​Their pricing is simpler and lower because they don’t have to include the exchange risk costs against the key currency (USD) into their prices.
  • ​Given the same time zone, they receive money more swiftly.
  • ​Trade negotiations are simplified, thanks to the availability of currencies of choice.
  • ​Trade partners, whether small or large, can be found more easily, because a number of AEC+3 trade partners prefer conducting trade in their local currencies.
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Constraints of conducting trade with AEC+3 local currencies
  • Forward contracts are not available in some currencies, e.g. LAK, due to their national regulations or market conditions.
  • Some uncertainties exist as concerns national rules and regulations, which, in some AEC+3 countries, change very often.​
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Fees

Inward funds transfer in local currencies​
  • Charge Ben: The sender is responsible for only KBank's outward funds transfer charge. Any funds transfer charge collected by the foreign bank will be deducted from the transferred amount, which will therefore not be received in full by the recipient.
    ​- THB500/transaction
  • Charge Our: The sender is responsible for charges at both ends of the outward funds transfer. There will be a partial deduction from the money eventually received by the recipient to cover any charge assessed by the destination bank (if any).
    ​-  Other AEC+3 local currencies (Cambodian Riel, Brunei Dollar, Philippine Peso, Myanmar Kyat, Malaysian Ringgit, Lao Kip, Indonesian Rupiah, Vietnamese Dong, Singapore Dollar, Chinese Yuan, Korean Won): Surcharge of THB800 /transaction -  Japanese Yen: Surcharge of 0.05%/transaction on the minimum transfer amount of JPY5,000​
Note: Service conditions subject to KBank’s regulations
  • For more details, please contact the K-Biz Contact Center (Tel. 02-8888822), International Trade Service Center or SME Business Center nearest to your home.​

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Conditions​

Inward Transfers​
  • For transfers of less than USD20,000 or the equivalent in other currencies, KBank reserves the right to deposit the funds into the accounts immediately without notifying the customers.
  • For inward transfers of USD50,000 or more, or the equivalent in other currencies, the recipient must submit the “Report Form for Foreign Currency Transaction", along with support documents, per the transfer objectives at KBank branches or International Trade Service Center nationwide
  • KBank may request additional documents from the recipient, and the recipient is allowed to submit those documents within 10 business days at KBank branches or International Trade Service Center. Otherwise, KBank reserves the right to not deposit the funds into the recipient's accounts and remit the funds to the originating overseas  banks.​
Outward Transfers
  • Timing of funds received in foreign countries depends on the different time zones and business hours of each country.
  • For outward transfers of USD50,000 or more, or the equivalent in other currencies, the “Foreign Exchange Transaction Form" must be submitted.
  • For conversion of THB into foreign currencies, KBank will use the Spot Rate or Forward Rate that has been previously agreed upon, as the case may be.
  • The sender may request modification or cancellation of the funds transfer instructions if any error has been found; the sender is responsible for any communication fees or other fees (if any).
  • Approval must be sought and granted by Bank of Thailand in cases where outward funds transfers do not comply with Bank of Thailand's conditions.
  •  KBank reserves the right to not provide this service to the recipient included in the OFAC List or identified as representatives of sanctioned countries.​

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คำถามที่พบบ่อย

ถ้าโอนเงินไปแล้ว ผู้รับยังไม่ไปรับเงินแต่ต้องการยกเลิกรายการ สามารถติดต่อช่องทางไหนได้บ้าง ?

ติดต่อช่องทางที่ลูกค้าไปทำรายการ หรือ 02-8888822

โอนเงินไปประเทศไหนได้บ้าง?

ทุกประเทศทั่วโลก ยกเว้น กรณีที่ผู้รับเงินโอนอยู่ในรายชื่อต้องห้าม (OFAC List) หรือกลุ่มคน หรือกลุ่มบุคคลต้องห้ามอื่น ๆ ที่ถูกระบุว่าเป็นตัวแทนของประเทศที่ถูกมาตรการลงโทษ (Sanctioned)

จะได้รับเงินเมื่อไหร่? ภายในวันเดียวกันใช่หรือไม่?

ขึ้นอยู่กับ Time Zone และ นโยบายของธนาคาร / ประเทศปลายทาง

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ผู้รับเงินโอน สามารถถอนได้ทันทีหรือไม่ ?

ขึ้นอยู่กับนโยบายของธนาคาร / ประเทศปลายทาง



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