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home>FAQ>Opening FCA (Corporate Customer)

 

Opening FCA (Corporate Customer)

 

What are the benefits of opening Foreign Currency Accounts?
Where can I open Foreign Currency Accounts?
What documents do I need to prepare to open Foreign Currency Accounts
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?
Is there any minimum balance required to maintain the Foreign Currency Accounts with Bank of Asia?

 


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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