Can I use a foreign currency account in Thailand as proof of funds for visa extensions?

"Is it worth it to have it in your original currency, pay fees to withdraw, and then to exchange with the local money exchanger like Super Rich?"

No, that doesn't work because they charge quite a high fee to withdraw actual foreign cash from a FCD- 1% for USD, 2% for EUR, GBP, JPY.

There are two real use cases- (1) you can bring money in that you intend to convert into THB and spend at some point but don't want to exchange right away. It works out basically the exact same cost as bringing in and converting to THB immediately but you can choose when you like the exchange rate to do it.

(2) if you think you will want to move the money back out again. At least with USD, it is cheaper to bring it in and put it in a FCD, and then pay the 0.25% hit to send it back out without converting, versus actually going into THB and back again, which would be I think about 1% round trip. So it's 4x cheaper to not put it into THB if you plan on sending it back out again, for USD at least.

And if you plan to send the money back out, you can lose more in the exchange into THB and back again.

Yes this is the flip side, you get something derisory in interest on the FCD, 0.15% with Bangkok Bank although they will give you 0.9% on a year term. I think 1.5%-1.7% is around the top on a THB account though that will be acceptable to immigration, it can be a term account but it has to be instant access, higher rates may involve you locking your money away for several years and aren't acceptable to immigration. 1.5% isn't much, but it's still 12,000 on 800,000B for the year.

@Terry *******

you earn basically zero on a FCD account where you can earn a whopping 2-3% if it's in baht lol

It's not a hassle at all with Bangkok Bank although the account does need to be opened at head office (your branch will send everything off there for you). With Bangkok Bank changing it into THB there are no specific fees, just their TT exchange rate, which is better than the cash one. There is a "in lieu of commission" charge of 0.25% on USD if you want to send it back out without exchanging it into THB though. Other currencies are higher, 0.5% for GBP, EUR, JPY, higher again for AUD or SGD. It's handy if you want to bring money in but not change it immediately or maybe not at all, even with the 0.25% charge if you do want to move it back out after it's cheaper than changing it into THB and back again (and removes the exchange risk as Terry says).

I see. Thank you!

@Tod ********

yes, they do, mine is from bangkok bank

@Dan***

, wow, I didn't know they had bank books on foreign currency accounts (y)

i have a kbank $ account with bank book

Correct, as a rule FCD accounts have no bank book :/ When you go to get your paperwork from the bank for your extension in addition to writing the bank letter they also print the last 90 days of account history to show the balance was seasoned the required amount of time.