Another often chosen safeguard is to have money remitted only to large banks as these are likely to be more familiar with the procedures than smaller ones. If a fax of the accepted remittance order can be shown, the receiving bank cannot claim that the money maybe hasn t been sent yet. However, the exchange rate applied is considerably better than the one available for cash. It is the same rate used for letters of credit and other international payment instruments. Remittances can also be directed to Dollar accounts where they are then credited in Dollars.
Bank Accounts Foreign visitors can open savings accounts without any problem.
Checking accounts are only available to residents. However, checks drawn on Thai banks and issued to a certain person can be deposited in that person s savings account without any problem. They are generally cleared within a day. Checks drawn on foreign banks can take up to three months for clearing. Foreigners can open a foreign currency account with any commercial bank in Thailand.