Multi-Currency Bank Account Can Protect You From Currency Risks

January 6, 2017

Whether you have business opportunities overseas or are taking care of family members back home, one of the big worries is exchange rates. Even small changes in the dollar’s value can cost you a significant amount, although things could also go in your favor by opening Multi-Currency Account.

Multi-Currency Account or Foreign Currency Account is a bank account that allows for the transfer of payments in different specified currencies to and from one designated account. It can help make your life easier by having the option of multiple currencies in one account, you can easily send and receive money all around the world. If doing business overseas, you want to know what your costs and profits are able to build a reliable plan, not be taking a gamble on the dollar’s future direction.

In Thailand, there are several banks that provide service for Multi-Currency Account. Whether you’re a foreigner or Thai national, you can open a Multi-Currency Account. We explain the details of benefit, type and documents requirement below;


Types of Account:

There are two types of account for Resident Account and Non-Resident Account:

1. Foreign Currency Deposit (FCD) for Resident Account

a. Special Foreign Currency Deposit (SFDC)

  • If your income comes from overseas and you would like to save it in foreign currency, with an unlimited balance, the Special FCD is suitable for you. It is ideal for traders or anyone with regular earnings in foreign currency without future payment obligation.

b. Domestic Funds – Foreign Currency Deposit (DFCD)

  • If you have foreign income from international trade or want to save in a foreign currency, you can open a Domestic FCD to manage your export earnings and other foreign income. These accounts are suitable for anyone who wants to save in a foreign currency such as individuals who have international trade businesses. However, this type will require documents showing future foreign currency payment obligations.

c. Domestic Funds – special Foreign Currency Deposit (DSFCD)

  • Similar as Domestic Funds – Foreign Currency Deposit but without future payment obligation and minimum balance of USD 5 million or equivalent in other currencies.

2. Foreign Currency Deposit (FCD) for Non-Resident Account



One of the major benefits of a foreign currency account is you can send and receive funds in different currencies without exchanging them. This is ideal for anyone in the import and export business to moderate risk exposure from oscillations in exchange rates. For international businesses, it’s also facilitate foreign currency management. You also can easily conversion from one currency to another, to take advantage of any foreign exchange movement.

Please don’t hesitate to contact us if you require assistance with the opening of such an account at a Thai bank, or if you have any questions.

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