Foreign Currency Deposit
Save Your Foreign Currencies with T Bank
Bank globally, save locally — open your Foreign Currency Account in USD, EURO, GBP, JPY or AUD with ease.
T Bank Limited offers Foreign Currency Savings Accounts in USD, EURO, GBP, JPY or AUD to its valued prospective customers. Citizens of Bhutan who live both inside and outside of the country can now open FC accounts without obtaining approval from the Royal Monetary Authority. Additionally, Bhutanese firms and companies with specific approval from the Royal Monetary Authority, as well as foreign nationals (including Indian nationals) staying in Bhutan for an extended period and receiving compensation in convertible foreign exchange, will be permitted to open Foreign Currency Accounts with the Bank’s authorized branches.
Eligibility
1. FC I for Individual-Bhutanese
All Bhutanese Individuals residing in Bhutan are eligible to open Foreign Currency Account – in any Convertible Currencies of (USD, EURO, GBP, JPY or AUD)
Permissible Credits (Accepted Deposits)
- Foreign Currency Cash Deposit
- Inward Remittances or income by way of remuneration earned in FC
- Interest earned on deposits
- Any inflows approved by RMA
Permissible Debits (Accepted withdrawals)
- Cash withdrawal of USD 3000 or equivalent in foreign exchange per travel to third countries/India;
- Current transactions, (excluding payment for import of goods) are permissible as per the Foreign Exchange Rules & Regulations (FERR) upon production of supporting invoice, and validation of repeat debit transactions may be facilitated without supporting documents.
- Conversion to Ngultrum by transfer to any BTN CASA accounts
- It is Permissible to send monthly Student Living Allowances to your family members pursuing studies abroad – USD 4800 per month (Third Countries) INR 100,000 per month (India)
2. FC I for Individual-Non-Bhutanese
- FC account for Non-Bhutanese requires specific approval from RMA to open an account.
3. FC II for Entity
- FC II for entity requires specific approval from RMA to open an account.
4. FC III for Bhutanese Living Abroad
- FC III for entity requires specific approval from RMA to open an account.
Documents Required
- Valid copy of CID/Passport copy
- 2 Recent passport-size photographs
Interest Rate
Sl. No. | FCY | Rates(%) P.a |
|---|---|---|
1 | JPY | 1.50% |
2 | GBP | 1.50% |
3 | EURO | 1.50% |
4 | AUD | 2.75% |
5 | USD | 1.75% |
1. FC I for Individual-Bhutanese
All Bhutanese Individuals residing in Bhutan are eligible to open Foreign Currency Account – in any Convertible Currencies of (USD, EURO, GBP, JPY or AUD)
Permissible Credits (Accepted Deposits)
- Foreign Currency Cash Deposit
- Inward Remittances or income by way of remuneration earned in FC
- Interest earned on deposits
- Any inflows approved by RMA
Permissible Debits (Accepted withdrawals)
- Cash withdrawal of USD 3000 or equivalent in foreign exchange per travel to third countries/India;
- Current transactions, (excluding payment for import of goods) are permissible as per the Foreign Exchange Rules & Regulations (FERR) upon production of supporting invoice, and validation of repeat debit transactions may be facilitated without supporting documents.
- Conversion to Ngultrum by transfer to any BTN CASA accounts
- It is Permissible to send monthly Student Living Allowances to your family members pursuing studies abroad – USD 4800 per month (Third Countries) INR 100,000 per month (India)
2. FC I for Individual-Non-Bhutanese
- FC account for Non-Bhutanese requires specific approval from RMA to open an account.
3. FC II for Entity
- FC II for entity requires specific approval from RMA to open an account.
4. FC III for Bhutanese Living Abroad
- FC III for entity requires specific approval from RMA to open an account.
- CID/Passport copy
- 2 Recent passport-size photographs
Sl. No. | FCY | Rates(%) P.a |
|---|---|---|
1 | JPY | 1.50% |
2 | GBP | 1.50% |
3 | EURO | 1.50% |
4 | AUD | 2.75% |
5 | USD | 1.75% |
