NotiPass_80%K-Trade Connect will be closed on December 11, 2019 at 10:00 p.m. and resuming services on December 12, 2019 at 02:00 a.m. $More Details.%/en/announcement/Pages/SystemMaintenanceK-Trade-Connect.aspx
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Foreign Currency Deposit (FCD) Accounts
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Enhancing Your Confidence
No exchange rate worries!
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Foreign Currency Deposits for
Residents
Individual and Juristic Persons
Minimize forex risk
Enhance effectiveness of business liquidity management
For better returns
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Currencies available
MYR
(Available at Phahon Yothin Main Branch only)
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FCD Accounts for Residents
| Sources of deposit | Maximum
balance | Forms of deposit | Required documents |
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- Income from foreign sources (including funds received from non-residents through purchases/exchanges/borrowings from banks in Thailand).
- Funds that residents have purchased/exchanged/borrowed from banks in Thailand.
- Funds transferred from other FCD accounts of residents and FCD accounts of other residents.
- Funds received from banks or businesses relating to foreign means of payment (as the case may be).
| No limit | - Foreign remittances
- Foreign banknotes
- Foreign drafts
- Traveler’s cheques
- Foreign currencies that have been exchanged from Baht
- Funds transferred from another FCD account
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Click and scroll to view information.
Withdrawal from FCD accounts
| Forms of withdrawal | Required documents |
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- For settlement of obligations abroad
- For deposit to FCD accounts held by non-residents, including settlement on behalf of a subsidiary abroad
| - Foreign banknotes
- Foreign drafts
- Traveler’s cheques
- For exchange into Baht
- For transfer to other countries per the objectives set by BOT
- For transfer to another FCD account
| - Documents evidencing obligations per the objectives set by BOT
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- For exchange into Baht with banks in Thailand
- For deposit to other FCD accounts of the same residents and FCD accounts of other residents
- For deposit to FCD accounts of banks or businesses relating to foreign means of payment (as the case may be), including settlement on behalf of a subsidiary abroad
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Click and scroll to view information.
Note:
- Each customer is allowed to deposit foreign banknotes to their FCD account at not more than USD15,000 or equivalent in other currencies per day or not more than the amount specified in documents showing that the funds are sourced from abroad, such as a currency declaration form with stamp and signature of a Customs official or evidence from businesses relating to foreign means of payment.
- Foreign banknote withdrawals are permitted for the settlement of obligations abroad or for travel expenses only.
- KBank reserves the right to change these terms and conditions without prior notice. Please review the terms and conditions before using the service.
Account Details
| Details | Current Account | Savings Account | Fixed Deposit Account |
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Minimum deposit | Not specified | Not specified | Not specified |
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Minimum monthly balance | No limit | No limit | No limit |
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Interest | No interest | Interest 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 three months.
- Regular savings account rates on deposits of more than three months.
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Click and scroll to view information.
| Qualifications |
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- 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.
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| Documents for account opening |
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Individuals- National ID Card (Smart Card)
- Copy of House Registration (in case other ID cards are submitted)
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Registered Merchant- Copy of valid National ID Card (card front only), together with a copy of house registration if address is not shown or Copy of valid passport (for foreigners) of merchant's owner
- Commercial Registration Certificate indicating the merchant's name
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Foreign Currency Deposits for
Non-Residents
Individual and Juristic Persons
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Currencies available
*Only for juristic persons registered in Thailand
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FCD Accounts for Non-Residents (NR)
| Sources of deposit | Maximum balance | Forms of deposit | Required documents |
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- Income from foreign sources (including funds received from non-residents through purchase/exchange/ borrowing from banks in Thailand)
- Funds transferred from other FCD accounts of the same non-resident or FCD accounts of other non-residents
| No limit | - Foreign banknotes
- Foreign drafts
- Traveler’s cheques
- Foreign remittances
- Foreign currencies that have been exchanged from Baht
- Funds transferred from other FCD accounts of non-residents
- Funds transferred from FCD accounts of individuals/juristic persons registered in Thailand for use in the settlement of obligations to individuals/juristic persons abroad by depositing funds into their FCD accounts
| - If the Baht is used to buy foreign currencies at the amount equivalent to USD200,000 or more for deposit into FCD accounts, documents showing the sources of the Baht are required, such as salary certification.
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- Payments received from residents per the established criteria
| Not exceeding obligations of residents | |
Click and scroll to view information.
Note:
Each customer is allowed to deposit foreign banknotes to their FCD account at not more than USD15,000 or equivalent in other currencies per day or not more than the amount specified in documents showing that the funds are sourced from abroad, such as a currency declaration form with stamp and signature of a Customs official or evidence from businesses relating to foreign means of payment.
Withdrawal from FCD accounts
| Forms of withdrawal | Required documents |
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- Withdrawals in foreign currencies can be made in any case with no need to submit any document and fill out the Foreign Exchange Transaction Form.
| - Foreign banknotes
- Foreign drafts
- Traveler’s cheques
- For transfer to other countries
- For transfer to another FCD account
- For exchange into Baht
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| | Limits:
- Value Today/Tom: Not exceeding 200 million Baht per NR group, including other transactions to provide Thai Baht liquidity
- Value Spot: No limit
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Click and scroll to view information.
Note:
- Withdrawals in Thai Baht require evidence of obligations that need to be settled per trade, services or investment in Thailand, or not exceeding the set limit (as the case may be).
- KBank reserves the right to change these terms and conditions without prior notice. Please review the terms and conditions before using the service.
Account Details
| Details | Current Account | Savings Account | Fixed Deposit Account
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Minimum deposit |
USD 5,000 | USD 5,000 | USD 500 |
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Minimum monthly balance | 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
If the outstanding balance is lower than this limit, an account maintenance fee of USD10/month will be charged | Not specified
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Interest | No interest | Interest 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 three months.
- Regular savings account rates on deposits of more than three months.
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Click and scroll to view information.
| Qualifications |
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- 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
- 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.
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| Documents for account opening |
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Foreign national- Identity document e.g. Passport or VISA and other document depending on the purpose of entry into Thailand as determined by KBank
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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 the meeting resolving to open a deposit account with KBank, signed and certified by authorized director(s), and designating the name(s) of authorized signatories for payment and payment conditions
- 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
- Copy of Thai ID Card (copy of House Registration required if address is not shown) or copy of Passport (for non-Thai) of persons having relationship with the juristic person as follows;
- Authorized director(s)
- Authorized person(s)
- Individuals with 25% of shareholder or more in the company
Please provide certified true copies by authorized director(s) with the company seal(if any) on all documents (every page). |
Note:
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Frequently asked questions
What is the maximum daily deposit of foreign banknotes to an FCD account?
No more than USD15,000 or equivalent in other foreign currencies is allowed to be deposited daily in foreign banknotes to an FCD account held by a Thai or foreign individual/juristic person. If the deposit exceeds the specified
amount, customers are required to submit documents showing that the funds are sourced from abroad, such as a currency declaration form with stamp and signature of a Customs official or evidence from businesses relating
to foreign means of payment.
What exchange rates apply for deposit to and withdrawal from FCD accounts?
The T/T selling rate is used for deposits; the T/T buying rate is used for withdrawals.
Is it possible for residents to transfer funds between FCD accounts?
Yes, they can do so freely with no limit or required documents.
Can FCD transactions be made at non-account holding branches?
Yes, deposits and withdrawals can be made at non-account holding branches designated to provide FCD account services. However, for current FCD accounts, transactions must be made at account holding branches only. For MYR deposit
accounts, transactions can be made at only the Phahon Yothin Main Branch.
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Juristic person registered in Thailand
Company Limited / Public Company Limited
Juristic Person
- Certificate of Registration issued by Partnerships and Companies Registration Office with an annex detailing the purpose thereof, not more than three months prior to submission
- Establishment Registration Form (Bor Oor Jor. 3) or Amended Registration Form (Bor Oor Jor. 4), in case the registered corporate seal has been amended, no requirement on the document age
- Shareholders list (Bor Oor Jor. 5), no requirement on the document age
- Power of Attorney affixed with a 30-Baht stamp duty (if the person with authority to sign for payment/withdrawal is not the person with authority to sign to bind the juristic person)
- Letter of intent or minutes of the meeting with the following details:
- - Express an intention to open an account with KBank
- - Designate the name(s) of an authorized signatory for payment/withdrawal and conditions for payment/withdrawal (if the person is not authorized director per Section 3 under the Certificate of Registration, a power of attorney with THB30 duty stamp affixed is required)
- - Having been signed and certified by authorized director(s) per Section 3 of Certificate of Registration, and affixed with the corporate seal (if required)
Documents of persons having relationship with Juristic Person
Copy of national ID card or passport (for foreigner) of the following persons:
- Directors authorized to sign to bind the company per item 3 of the Certificate.
- The person with authority to sign for payment/withdrawal
- Partners holding shares of not less than 25 percent per the Shareholders’ list.
- Managing Director or top management
Limited Partnership / Registered Ordinary Partnership
Juristic Person
- Certificate of Registration issued by Partnerships and Companies Registration Office with an annex detailing the purpose thereof, not more than three months prior to submission
- Memorandum of Association (Hor Sor 2), no requirement on the document age
- Power of Attorney affixed with a 30-Baht stamp duty (if the person with authority to sign for payment/withdrawal is not the person with authority to sign to bind the juristic person)
- Letter of intent or minutes of the meeting with the following details:
- - Express an intention to open an account with KBank
- - Designate the name(s) of an authorized signatory for payment/withdrawal and conditions for payment/withdrawal (If the person is not the managing partner authorized to bind the partnership per Section 4 or 7 (if any) of Certificate of Registration, a power of attorney with THB30 duty stamp affixed is required)
- - Having been signed and certified by the managing partner authorized to bind the partnership per Section 4 or 7 (if any) of Certificate of Registration, and affixed with the corporate seal (if required)
Documents of persons having relationship with Juristic Person
Copy of valid national ID card (card front only) or Copy of valid Passport (for foreigners) of the following person:
- Every managing partner who is an authorized signatory to bind the partnership per Section 4 or 7 (if any) of Certificate, whereas the person authorized to open an account is required to present his/herself at the bank with ID chip card. (If ID chip card is not available, a house registration or smart card-based driving license or passport (for foreigners) must be presented as well)
- Authorized signatory for payment/withdrawal according to the letter of intent or the minutes of the meeting is required to present his/herself at the bank with ID chip card. (If ID chip card is not available, a house registration or smart card-based driving license or passport (for foreigners) must be presented as well)
- Individuals holding at least 25 percent of shares according to Section 2 of Certificate
- Managing director or the highest-ranking executive
Housing Estate/Condominium Juristic Person, Labor Union, Social Enterprise, Foundations, Associations, & Cooperatives
Juristic Person
- Document to certify the establishment/registration or certificate issued by respective authority to verify the juristic person status
- Document to appoint authorized signatory to bind the juristic person, i.e., chairman, the board of directors, and directors
- Articles of Association
- Tax exempt documentation (if any)
- Power of Attorney affixed with a 30-Baht stamp duty (if the person with authority to sign for payment/withdrawal is not the person with authority to sign to bind the juristic person)
- Letter of intent or minutes of the meeting with the following details:
- - Express an intention to open an account with KBank
- - Designate the name(s) of an authorized signatory for payment/withdrawal and conditions for payment/withdrawal (If the person is not an authorized signatory to bind the juristic person, a power of attorney with THB30 duty stamp affixed is required)
- - Signed and certified by an authorized signatory to bind the juristic person with affixed juristic person seal (if required)
Documents of persons having relationship with Juristic Person
Copy of national identification card (ID) or copy of passport (for non-Thai) of the following person:
- Every authorized signatory, whereas the person authorized to open an account is required to present his/herself at the bank with ID chip card. (If ID chip card is not available, a house registration or smart card-based driving license or passport (for non-Thai) must be presented as well)
- Authorized signatory for payment/withdrawal according to the letter of intent or the minutes of the meeting is required to present his/herself at the bank with ID chip card. (If ID chip card is not available, a house registration or smart card-based driving license or passport (for non-Thai) must be presented as well)
- Managing director or the highest-ranking executive
Juristic Person in Other Forms (School, University, Temple, Mosque, Church and Government Agency, etc.)
Juristic Person
- Document to certify the establishment/registration or certificate issued by respective authority to verify the juristic person status
- Document to appoint authorized signatory to bind the juristic person, i.e., directors, the board of directors, principal, chancellor, and abbot
- Power of Attorney affixed with a 30-Baht stamp duty (if the person with authority to sign for payment/withdrawal is not the person with authority to sign to bind the juristic person)
- Letter of intent or minutes of the meeting with the following details:
- - Express an intention to open an account with KBank
- - Designate the name(s) of an authorized signatory for payment/withdrawal and conditions for payment/withdrawal (If the person is not an authorized signatory to bind the juristic person, a power of attorney with THB30 duty stamp affixed is required. However, there is no need to affix the stamp on the document of the government’s agency)
- - Signed and certified by an authorized signatory to bind the juristic person with affixed juristic person seal (if required)
Documents of persons having relationship with Juristic Person
Copy of national identification card (ID) or copy of passport (for non-Thai) of the following person:
- Every authorized signatory, whereas the person authorized to open an account is required to present his/herself at the bank with ID chip card. (If ID chip card is not available, a house registration or smart card-based driving license or passport (for non-Thai) must be presented as well)
- Authorized signatory for payment/withdrawal according to the letter of intent or the minutes of the meeting is required to present his/herself at the bank with ID chip card. (If ID chip card is not available, a house registration or smart card-based driving license or passport (for non-Thai) must be presented as well)
- Managing director or the highest-ranking executive