BLS – fund trading account options

This topic contains 13 replies, has 4 voices, and was last updated by Hoonzilla Hoonzilla 5 months ago.

Viewing 14 posts - 1 through 14 (of 14 total)
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  • #1
    scotts
    scotts
    • Posts: 28

    Appears that BLS can only receive incoming funds to trading accounts via BKK, SCB and Kasikorn.

    My primary bank is Krungsri.

    I asked my marketing manager who said I would need to transfer money from Krungsri to Kasikorn, then do a bill payment to BLS.

    Does anyone know if there is a way (online) to get money from Krungsri into a BLS trading account?

    #2
    Surfsalot
    Surfsalot
    • Posts: 52

    I have done over the counter transfer of funds from other non Bangkok bank branches into my Bualuang trading account.  I used a copy of a deposit form that was provided to me by BLS.  I recall the form just has the details of your BLS account number on it.  You should email your BLS broker and ask them.

    If you are transferring from abroad more than the equivalent of 50K US into a Thai account, it is wise to obtain a Foreign Exchange Transaction (FET) (sometimes referred to as Tor Tor 3) from your bank.  That will make things less problematic when you wish to transfer funds back out of Thailand.

    #3
    scotts
    scotts
    • Posts: 28

    My funds are onshore, I use krungsri as my savings account.

    Doesn’t look like there is an option (online) to get money from Krungsri to BLS.

    I will need to do an internet transfer from krungsri to kasikorn then to BLS.

    #4
    Hoonzilla
    Hoonzilla
    • Posts: 99

    I have just checked with a broker.

    You can transfer funds online from a non-linked account into your Bualuang trading account.  However, only three Thai banks currently provide this option: SCB, BKK and Kasikorn.

    It is not currently possible to do the transfer via Krungsri’s online banking platform.

    So yes looks like you will have to first transfer to Kasikorn.

    Are your funds already in baht or is your account with Krungsri a FCD?

    #5
    scotts
    scotts
    • Posts: 28

    Thanks for the confirmation.

    Funds are in thb.

    Guess the double transfer is the answer.

    #6
    Fish Tank
    Fish Tank
    • Posts: 14

    The double transfer should work.  You will just lose a day or two perhaps.

    If there is some reason you need the funds immediately (margin call?), you can get someone (in Thailand) to make a deposit on your behalf.  They just need your account details.

    I once had my girlfriend deposit funds over the counter at SCB into my BLS trading account. I recall that if you make the deposit before 11am (or something like that) the funds will show up within the hour in your online trading account.

    #7
    scotts
    scotts
    • Posts: 28

    Guess that’s one think BLS could improve, accepting one from more banks…

    #8
    Hoonzilla
    Hoonzilla
    • Posts: 99

    BLS already accepts from non BKKbank branches.  So it may well be Krungsri that does not want to play ball.

    #9
    scotts
    scotts
    • Posts: 28

    well they only accept deposits from SCB and Kasikorn…. all the other brokers i have accounts with accept deposit from any banks (either bill or internet transfer).

    #10
    Hoonzilla
    Hoonzilla
    • Posts: 99

    I have a good contact at Krungsri in senior management.  I will give her a call when I get a chance and ask what the issue is.

    #11
    scotts
    scotts
    • Posts: 28

    Hoonzilla, did u find out anything?

    #12
    Hoonzilla
    Hoonzilla
    • Posts: 99

    Hey Scotts. Hope you are enjoying your weekend.  My Thai is pretty good and yesterday I spoke with a branch manager at Krungsri and asked him about this.  He wasn’t able to give me an answer, but he is a helpful lad and told me he would try to find out and get back to me.  I was unable to speak with my senior management contact in Krungsri as she is on holidays.  It is Makha Bucha day here today.

    And note the SET will be closed on Monday next:

    SET Holidays for 2017

    #13
    scotts
    scotts
    • Posts: 28

    Hoonzilla, I actually read that article after you released it, good info thanks.

    #14
    Hoonzilla
    Hoonzilla
    • Posts: 99

    You should leave a positive comment under the article 😀  😀

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