
Opening FCA (Corporate Customer)

1. What
are the benefits of opening Foreign Currency Accounts?
Opening Foreign Currency Accounts
with Bank of Asia will not only help the clients to mitigate their
foreign currency risks but also reducing other incurred expenses
resulting from converting from one currency to another.
2. Where
can I open Foreign Currency Accounts?
Customer can open the Foreign
Currency Deposits with Bank of Asia, Head Office.
3. What
documents do I need to prepare to open Foreign Currency Accounts?
The following documents are
required to open the Foreign Currency Accounts:
- A copy of the Articles of
Association
- A copy of Business Registration,
or Certificate of Incorporation
- A copy of resolution of
board of directors' meeting indicating the intention to open the
Foreign Currency Deposits Account with specified account condition.
- A Letter of Attorney (30
Baht duty stamp affixed) designating a person(s), and specimen
signature(s) of said person(s) to sign for and on behalf of the
company (as stated in the company's affidavit).
- Tax identification
- For corporate account incorporated
in Thailand; all credit transactions must be accompanied by supporting
documents indicating an obligation to transfer payment in foreign
currency within 6 months from the date of deposit.
- For corporate account incorporated
overseas; all reference documents must be notarized by a competent
notary public and certified by Royal Thai Embassy, Royal Thai
Consular-General, or the Ministry of Foreign Affairs of Thailand
4. Where
can I get more information about opening Foreign Currency Accounts?
Those who are interested may
call for more information at Customer Service Section, Bank of Asia,
Head Office, Tel no. 0-2343-3315-17, Fax no. 0-2285-1412, 0-2213-2618,
0-2285-1620.
5. How many
types of Bank of Asia Foreign Currency Accounts?
There are 3 types of Foreign
Currency Deposits that Bank of Asia offers which are:
1. Savings Deposits Accounts
2. Time Deposits Accounts, with 3, 6 and 12 months term
3. Current Deposits Accounts
6. In case of opening the
Foreign Currency Accounts with Bank of Asia but there is no movement
in the account, will there be any incurred expenses?
In case the customer does not
operate the account for more than 1 year, maintenance fee will be
applied at USD 50.00 per annum on non-active account.
7. Is there any minimum balance required to maintain the Foreign
Currency Accounts with Bank of Asia?
No minimum balance is required.
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