Bank of Ayudhya - Foreign Currency Deposit Account

[Noz]

I'm planning on transferring some pounds sterling from the UK to Thailand to cover my living expenses for the next year and wonder if anyone who has opened the above account could post any comments re their experience of its operation, ease of international transfers, exchange rate competitiveness for withdrawals, etc...

Deposits via SWIFT are charged at a maximum of 500 baht (with no commissions in lieu of fx charges) and ATM withdrawals in baht are free but obviously at the exchange rate on the day. So this looks pretty handy for low cost management of exchange rate fluctuations.

My alternative is to make a one-off transfer to my Kasikorn savings account and I appreciate this would be subject to a one-time fx rate and charges. I'm unsure as to the Kasikorn charges (or how good their rates are comparatively), so if anyone knows anything off-hand it would be appreciated.

And ofcourse if anyone has a crystal ball and can tell me which way the GBP/THB rate will move over the next year, I'd appreciate that too.

Thanks for any pointers whatsoever.

Noz

P.S. I just noticed that the Kasikorn website also advertises a FCD account but first glance seems to indicate that you need a house registration document to open (which I don't have) and there would also appear to be a commission in lieu of fx charges of 0.5%. If anyone has one of these I'd also be interested to learn some more. Thanks.

[taffinexile]

I've used Bank of Ayudhya FCD account for three years now and never had a problem. I've an English friend who lives in Hua Hin who is named on the account who handles any local payments when I'm not in Hua Hin. There were no problems setting up the account. I done mine in the branch just up from the main traffic lights by the police station.

[beachyhead]

I was told by the Immigration office that my sterling account would be acceptable for the monies required for the retirement visa, until I went there to do it and then I was told not only was it not acceptable but I would have to transfer money to a Thai Baht account and then have to wait 3 months before I could apply and in the mean time would have to leave Thailand to get a tourist visa to cover the 3 months. It was only when I stood my ground that a male immigration officer came over and informed me that if I got the last 3 months statements printed out and stamped by the bank that they would in fact except it, which they did.

[Noz]

Thanks to both for the replies. Sounds like it's pretty easy to set up and use. I'm not on a retirement visa so that particular problem won't affect me.

Looking further into historic fx rates, although BofA is not the best, it's as near as damn it and beats the opposition on charges as far as I can see.

Think I'll open one and be done with it.

[Noz]

Having opened up the above account, I see from my own bank's website (RBS), they need a sort code for international transfer. B of A have only given my their SWIFT code and postal address - can anyone confirm that this is sufficient?

My account is at the branch close to the main traffic lights (near Soi 63), if anyone happens to have the sort code to hand.

Thanks.

[parbeau]

Hi!

Their SWIFT code is AYUDTHBK

[Big Boy]

This might help http://www.tourismhuahin.com/banking-finance-huahin.php

[BaaBaa.]

There's one on the Forum as well.

http://www.huahinafterdark.com/hua-hin-banks.htm

[Noz]

Thanks for the replies. I'd seen both pages already and neither mentions the requirement for sort code. This in itself may mean it isn't needed so I'll need to try my UK bank again and get them to explain why they need it. Cheers.