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Description | Thai Baht Account of Foreign Financial Institutions | |
---|---|---|
Type of account | Current, Savings, Fixed (more than 6 months) | |
Interest payout | N/A for current or savings account | |
N/A for current account without cheque book | ||
Pays interest rates as specified on the date of fixed account deposit | ||
End-of-day balance | Consolidated, end-of-day balance at all domestic financial institutions is limited to maximum of 300 million THB. | |
OD (overdraft) | N/A | |
Identify payment objectives | Clearly state payment objectives in the SWIFT payment order as follows: | |
Section no. 70 in MT103 together with contact details of recipients | ||
Section no. 72 in MT200/202 |
The provisions of Bank of Thailand regulations are in effect for all individuals or corporate THB account holders who reside in foreign countries but use financial services in Thailand.