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The depositors
can mitigate their foreign exchange risks as well as minimizing
any incurred expenses in converting from one currency to another.
Besides, they will earn the competitive interest rate from Bank
of Asia.
The Bank offer the corporate clients Foreign Currency Deposits
in 7 major currencies which are United State Dollar(USD), Great
Britain Pound Sterling(GBP), Japanese Yen(JPY), Australian Dollar(AUD),
Swiss Franc(CHF), Euro(EUR), Singaporean Dollar(SGD).
Criteria
The bank offers 3 types of deposits accounts:
Saving Deposit Accounts
Fixed Deposit Accounts with 3, 6 and 12 months term.
Current Deposit Accounts
Applicant
Requirements
Must be corporate entities
Supporting
Documents
Memorandum of Association
Trade Registration
Minute of meeting indicating the foreign currency accounts
opening as well as specifying the condition.
Power of attorney (30 Baht duty stamp affixed) as well as
a specimen signature card of the company's authorized personnel
as stated in the affidavit.
Tax Indemnity Card
In case that the company is incorporated in Thailand, the
supporting documents indicating the FX burden that the company
need to settle in the next 6 months (from the date of account
opening) must be declared.
In Case that the company is incorporated abroad; all reference
documents must be endorsed by the Embassy of Thailand, Consular
of Thailand or Ministry of Foreign Affairs, Kingdom of Thailand.
Initial
Deposits
USD5, 000 or equivalent
Interest
Rate
Interest rate as periodically appears in the bank announcement
and subject to change from time to time
Interest on Savings accounts will be calculated daily and
will be paid on a half-yearly basis.
Interest rate on Fixed Deposits are accepted for the period
of 3, 6 and 12 months
Foreign Currency
Deposit Account
