Foreign Currency Account
TB Trust has now introduced opening of Foreign Currency Saving Account by its prospective customer in US Dollar with our Thimphu and Phuentsholing branches.
Salient features of this Foreign Currency account are as follows:
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FC account in USD shall be a saving deposit account;
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No fees and charges for inward remittances to FC account;
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No Minimum and maximum balance requirement;
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Check book facility available;
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Internet banking & SMS banking facilities;
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Interest on FC Fixed Deposit and Savings account is 0.50% per annum;
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In addition to the FC saving deposit account, Saving Deposit (BTN) accounts should also be opened in T Bank for meeting local payment – Interest rate of 5.75% p.a. (annualized);
Types of inward credit/deposit into the foreign currency account:-
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Inward remittance by way of salary/earning through employment abroad;
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Pension and related benefits received from the employer abroad;
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Proceeds of life insurance/health insurance policy claims received from abroad;
Withdrawal facilities from the foreign currency account:-
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Foreign currency can be utilized for meeting the cost of import of goods and services against import license/invoices.
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Expenses relating to Travel, Studies, Business and Medical treatment;
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No withdrawal of convertible currency in cash. Cash withdrawal in Ngultrum will be allowed.
For NRB (Non Resident Bhutanese), TB Trust shall reimburse the cost of postal/courier charges towards sending the NRB account opening documents from abroad to TB Trust.
