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Foreign Currency Deposit (FCD) Accounts

​​​​​​​​​​​​​​​​​​​​​​​​​​​​Enhancing Your Confidence
No exchange rate worries!​​

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Foreign Currency Deposits for

Residents

​Individual and Juristic P​​ersons​

​​

Minimize forex risk. Great for those who make payments in foreign currency

Three types of FCD accounts are available.

  1. Special Foreign Currency Deposit (SFCD)
  2. Domestic Funds - Foreign Currency Deposit (DFCD)
  3. Domestic Funds - Special Foreign Currency Deposit (DSFCD)
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Currencies available

​​​
USD 
 

USD

 
SGD 
 

SGD

 
AUD 
 

AUD

 
CAD 
 

CAD

 
HKD 
 

HKD

JPY 
 

JPY

 
GBP 
 

GBP

 
CHF 
 

CHF

 
EUR 
 

EUR

 
CNY 
 

CNY

MYR 
 

MYR*

*Only for juristic persons registered in Thailand​



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FCD Accounts for Residents

Three types of account

Account typesMaximum balanceSource of depositsForm of depositRequired documents for deposits​
Special FCD account (SFCD)No limit
  • Income from foreign sources such as bill payments on goods and services
  • Funds received from loans abroad
  • Salaries received from abroad
  • Funds received from other accounts of the customer that accept remittances of foreign income or non-resident accounts
  • Foreign drafts
  • Traveler’s cheques
  • Foreign remittances
  • Funds transfer from another FCD account
Documents showing that funds are sourced from abroad
Domestic FCD account (DFCD)Per evidence of obligations that must be presented (including the business obligations of subsidiaries)
  • Income from foreign sources such as bill payments on goods and services
  • Funds received from other FCD accounts of the customer
  • Foreign currencies from foreign exchange transactions or loans from banks in Thailand
  • Foreign banknotes
  • Foreign drafts
  • Traveler’s cheques
  • Foreign currencies that have been exchanged from Baht
  • Foreign remittances
  • Loans from banks in Thailand
  • Funds transfer from another FCD account
  • Documents showing the need to settle foreign currency obligations in the future for non-resident or other documents set by the Bank of Thailand, e.g., invoices for payments of goods or services, foreign loan agreements, etc
  • Additional documents showing that a payer is a subsidiary if the business obligation is incurred by that subsidiary

Domestic Special FCD account (DSFCD)USD5 million or equivalent in other currencies for all accounts
  • Income from foreign sources such as payments on goods and services
  • Funds received from other FCD accounts of the customer
  • Foreign currencies from foreign exchange transactions or loans from banks in Thailand
  • Foreign banknotes
  • Foreign drafts
  • Traveler’s cheques
  • Foreign currencies that have been exchanged from Baht
  • Foreign remittances
  • Loans from banks in Thailand
  • Funds transfer from another FCD account

Requires a letter certifying that an outstanding balance will not exceed USD5 million or equivalent in other currencies at the end of the day
Withdrawals
Account typesObjectiveSupporting DocumentationForm of withdrawal
  • Special FCD account (SFCD)
  • Domestic FCD account (DFCD)
  • Domestic Special FCD account (DSFCD)
For settlement of obligations to receivers in foreign countries, or for deposit into an FCD account held by a non-resident (NR), per the objectives set by the Bank of Thailand​
Document(s) evidencing obligations per the objectives set by the Bank of Thailand​
  • Foreign banknotes
  • Foreign drafts
  • Traveler’s cheques
  • Conversion to Thai Baht
  • Funds transfer to other countries for objectives as designated by the Bank of Thailand
  • Funds transfer to other FCD account

For settlement of foreign-currency denominated debt(s) and related fees, or settlements related to derivatives transactions linked to foreign variables, excluding Thai Baht exchange ratesA copy of a related loan agreement, and documentation toward a related loan drawdown, derivatives transaction or payment collection​
For payment of fees related to the FCD account to a domestic commercial bank that is the account holder​
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For deposit into another FCD account having the same account owner​
For deposit into another FCD account having the same account owner​
For exchange into Thai Baht​
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Note:

  • For deposits and withdrawals of USD50,000 or more, or equivalent thereof in other currencies, the customer is required to complete a foreign exchange transaction form.
  • Each customer is allowed to deposit foreign banknotes in their FCD account per day not exceeding USD10,000 or equivalent in other currencies. Such deposits must be made to an FCD account that does not accept remittances of foreign income. If the customer wants to deposit foreign banknotes in the FCD account that accepts remittance of foreign income, the customer is required to present documents showing that the funds are sourced from abroad, e.g., a currency declaration form with stamp and signature of a Customs Official.
  • Foreign banknote withdrawals are permitted for settling obligations abroad or for travel expenses only.
  • KBank reserves the right to change these terms and conditions without prior notice. Please review terms and conditions before using the service.

Account Details
​DetailsCurrent AccountSavings AccountFixed Deposit Account
Minimum deposit ​Not specifiedNot specifiedNot specified
Minimum monthly balanceNo limitNo limitNo limit
InterestNo interestInterest is credited to the account on every 25th of June and December
  • Interest is paid upon maturity: 1, 3, 6, 9, or 12 month term
  • Withdrawal before maturity:
    • No interest on deposits of less than one month.
    • Regular savings account rates on deposits of more than one month.
Qualifications
  • Individuals who are of Thai nationality
  • Individuals who are of foreign nationality and permitted to undertake permanent residency in Thailand
  • ​Juristic persons registered in Thailand
  • Branches or representative offices of juristic persons that are located in Thailand and have headquarters registered abroad.
  • Thai government agencies, organizations and state enterprises.
  • Civil servants/employees of Thai government agencies or organizations working abroad.
  • Juristic persons established under specific Thai laws.
Documents required

Individuals

  • National ID card (Smart Card)
  • ​​​​Original document of the House Registration (for use with older, non-chip-embedded national ID cards)

Juristic person registered in Thailand

  • Certificate of Registration (issued not more than three months prior to submission)
  • Memorandum of Association and Articles of Assocation (Bor Or Chor 2)
  • ​​​Minutes of a meeting in which it was resolved to open a deposit account with KBank, signed by an authorized signatory, designating the authorized signatories permitted to undertake withdrawals, together with the conditions for such withdrawals by them
  • List of Shareholders (Bor Or Chor 5)
  • Form for Establishment Registration (Bor Or Chor 3) (showing company’s seal) or Form for Amended Registration (Bor Or Chor 4) (in case of change in company’s seal)
  • ​​​Power of Attorney (if any) along with identification documents of all grantor(s) and grantee(s)
  • ​​​Presentation of the chip-embedded national ID card(s) of all persons authorized to open such account and those authorized to make withdrawals. If any such national ID card is of a type not accessible to a smart card reader, it must be accompanied by a copy of the House Registration document

 
 
 
 
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​Foreign Currency Deposits for​

Non-Residents

Individual and Juristic P​ersons​


 
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Currencies available

​​​ ​​
USD 
 

USD

 
SGD 
 

SGD

 
AUD 
 

AUD

 
CAD 
 

CAD

 
HKD 
 

HKD

JPY 
 

JPY

 
GBP 
 

GBP

 
CHF 
 

CHF

 
EUR 
 

EUR

 
CNY 
 

CNY

MYR 
 

MYR*

*Only for juristic persons registered in Thailand​




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FCD Accounts for Non-Residents

Account typesMaximum balanceSource of depositsForm of depositRequired documents for deposits
FCD account for Non-ResidentNo limit
  • Foreign income
  • Inward remittances from own FCD accounts or FCD accounts of non-residents
  • Foreign currency loans from banks in Thailand
  • Payments received from individuals/juristic persons per established criteria
  • Foreign currencies withdrawn from NRBA* or NRBS** for deposit in one’s own FCD account
  • Foreign currencies that non-resident bought in Baht for deposit in their own FCD account (Baht earned in Thailand only)
  • Foreign banknotes
  • Foreign drafts
  • Traveler’ s cheques
  • Foreign remittances
  • Purchase of foreign currency with Thai Baht for deposit
  • Cash transfer from another FCD account of the same NR
  • ​Cash transfer from the FCD account of an individual/entity registered in Thailand for use in the settlement of obligations to receivers in foreign countries paid via a deposit into their FCD account
If Baht is used to buy foreign currencies at an amount equivalent to USD50,0000 or more for deposit into the FCD account, documents showing the source of the Baht funds are required, e.g., salary slip.

*NRBA (Non-Resident Baht Account) is a general purpose Baht account for non-resident

**NRBS (Non-Resident Baht Account for Securities) is a non-resident account for investments in securities and other financial instruments

Withdrawals
Account typesObjectiveSupporting DocumentationForm of withdrawal​
FCD account for Non-ResidentWithdrawals in foreign currency may be made in any case. There is no need to present documentation or the Foreign Exchange Transaction Form.​
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  • Foreign banknotes
  • Foreign drafts
  • Traveler’s cheques
  • Outward remittance
  • Funds transfer to other FCD account
Withdrawals in Thai Baht​
Document ​must be included indicating the objective of the withdrawal in Thai Baht
  • Conversion to Thai Baht

Note:​

  • Purchase of foreign currency in the amount of USD50,000 equivalent or more for deposit to an FCD account requires submission of the Foreign Exchange Transaction Form.
  • Withdrawal in Thai Baht in the amount of USD50,000 equivalent or more requires Foreign Exchange Transaction Form together with evidence of obligation to pay for trade, services, or investment in Thailand.
  • KBank reserves the right to change terms and conditions of the service without prior notice. Please review terms and conditions before using the service.
Account Details
DetailsCurrent AccountSavings AccountFixed Deposit Account​
Minimum deposit USD 10,000USD 10,000USD 500
Minimum monthly balanceUSD 5,000
If the outstanding balance is lower than this limit, an account maintenance fee of USD10/month will be charged
USD 5,000
If the outstanding balance is lower than this limit, an account maintenance fee of USD10/month will be charged
USD 5,000
Interest No interestInterest is credited to the account on every 25th of June and December
  • Interest is paid upon maturity: 1, 3, 6, 9, or 12 month term
  • Withdrawal before maturity:
    • No interest on deposits of less than one month.
    • Regular savings account rates on deposits of more than one month.
Qualifications
  • Individuals who are not of Thai nationality and do not have foreign identification or permanent residency in Thailand
  • Offshore businesses, institutions, funds, financial institutions or juristic persons
  • Offshore branches or representative offices of juristic persons undertaking residency in Thailand
  • Offshore governmental organizations
  • Individuals who are of foreign nationality and permitted to undertake temporary residency in Thailand (not exceeding 3 months)
  • Individuals of foreign nationality who work in Thailand temporarily
  • Foreign embassies and persons entitled to diplomatic privileges
  • Non-local officials and staff members of foreign embassies
  • United Nations specialized agencies and international organizations or institutions
  • Foreign officials or staff members of United Nations specialized agencies, international organizations or institutions that are entitled to diplomatic privileges and immunities in Thailand.
Documents required

Foreign national

  • Passport and Thai work permit or other documents showing source of deposited funds such as account statements and evidence of real estate transactions.

Juristic person registered outside Thailand

  • Certificate of Registration or other registration documents indicating important details, i.e., company name, registration number, registered capital, location of office, the list of authorized signatory directors and specific instances for which they may act as signatories.
  • Articles of Association (if any)
  • Minutes of board meeting or letter of intent with the following details:

    • Resolution to open a deposit account with KBank
    • Designation of authorized signatories for withdrawals, together with the conditions for withdrawals
    • Minutes of board meeting or letter of intent must be signed by the authorized signatories and affixed with the company seal (if any).
  • List of shareholders (for some companies, the list may be included in the Certificate of Registration)
  • Power of Attorney for withdrawals and identification documents of both grantor and grantee, if authorization has been made for withdrawals
  • The passport or chip-embedded national ID card of all persons authorized to open the account, as well as all persons authorized to make withdrawals

Note:

  • All documents must be in or translated into Thai or English with the accuracy of the translation certified.
  • All documents must be certified by a notary public at the embassy or consular section of the relevant country.

 
 
 
 
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Frequently asked questions​​​​

Can a non-Thai national open an FCD account? If yes, what types are available?

Yes. Non-Thais do not need to choose an account type.

What type of an FCD account should we open to save money for sending children abroad to study?

A Domestic Funds - Special Foreign Currency Deposit (DSFCD) account is suitable for savings in foreign currency for sending children abroad to study and for those who cannot present evidence of future debt obligations at the time of depositing funds.

What type of an FCD account should I open to receive funds transferred from abroad, such as salary, payment for goods, or other income?

If your primary source of income is abroad, a Special Foreign Currency Deposit (SFCD) account would be appropriate since there is no limit on funds deposited from abroad.

What is the maximum daily deposit of foreign banknotes to an FCD account?

No more than USD10,000 equivalent may be deposited daily in foreign banknotes to accounts held by Thai natural/juristic person. There is no limit on deposits to account held by non-Thai natural and juristic person.

What exchange rates apply for deposits to and withdrawals from FCD accounts?

The T/T selling rate is used for deposits.

The T/T buying rate is used for withdrawals.

Is it possible to transfer money between domestic FCD accounts of Thai nationals?

Thai nationals may transfer funds only between FCD accounts held under the same name.

I currently have a Special Foreign Currency Deposit (SFCD) account to receive foreign income. I have found that it does not meet my requirements. Can I switch to a Domestic Funds - Special Foreign Currency (DSFCD) account using the same account number?

No. You must open a new account if you want a different account type.

Can FCD transactions be made at non-account holding branches?

Yes. Deposits and withdrawals may be made at any of ​209 FCD service branches​ of KBank.​


 
 
 
 
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