Not an American

[Rice]

For many years I never saw the need to open a Thai bank account. But now I have since officially retired I needed to do so for obvious visa reasons.

I was quite amused by some questions asked.

What was your highest education qualification.?

What University did you go to?

My previous employer and occupation.

Then came the Thai Stat Dec.

I swear I am not an US Citizen. Do not hold a green card. Have US bank accounts.
Have an option to move to the US in the future.

Is this something that the IRS has with Thailand or a homeland security thing?
I have no idea. This was the Krung Thai Bank.

 

[isanbirder]

Strange people, these Thai bankers.

The other day, I wanted to put some money away safely where I could get at it at a moment's notice, and I decided to deposit it with KTB (no more interest than the rest of those skinflints, but it was convenient).

KTB is the bank I have my Visa deposit in, and where I do my normal banking. BUT they would not allow me to open a second deposit account. Why on earth not? If I can open one, why not a second one?

 

[Rice]

Strange people, these Thai bankers.

The other day, I wanted to put some money away safely where I could get at it at a moment's notice, and I decided to deposit it with KTB (no more interest than the rest of those skinflints, but it was convenient).

KTB is the bank I have my Visa deposit in, and where I do my normal banking. BUT they would not allow me to open a second deposit account. Why on earth not? If I can open one, why not a second one?

They asked me how many accounts did I want. ?
It went veritably easy as I had my wife with me and she had an account at that branch since she had left school, some time ago I may add.

 

[Voodoo]

For many years I never saw the need to open a Thai bank account. But now I have since officially retired I needed to do so for obvious visa reasons.

I was quite amused by some questions asked.

What was your highest education qualification.?

What University did you go to?

My previous employer and occupation.

Then came the Thai Stat Dec.

I swear I am not an US Citizen. Do not hold a green card. Have US bank accounts.
Have an option to move to the US in the future.

Is this something that the IRS has with Thailand or a homeland security thing?
I have no idea. This was the Krung Thai Bank.

This a new one but worth checking out.. Nookie, GL, Urleft, any ideas on this subject?
Anything to do with this requirement that US citizens report any foreign account that they have over $10,000?

 

[gotlost]

This a new one but worth checking out.. Nookie, GL, Urleft, any ideas on this subject?
Anything to do with this requirement that US citizens report any foreign account that they have over $10,000?

No idea. I would say the US just wants those from south of the border.boobs2

 

[Prakhonchai Nick]

I had a problem with Krung Thai some 20+ years ago, withdrew all my money and have never used them since.

I had a 20,000 baht fixed 1 year deposit (a requirement then for those living here and leaving Thailand temporarily, to be dipped into by the tax authorities if they suspected you of working and withholding tax) At the end of the 1 year the Branch Manager refused to refund the money, requiring me to travel to Bangkok Tax Office to obtain the cancelled guarantee. I refused -took it up with the KTB Vice President, and the cash + interest was subsequently brought to my home by a bank official. I heard subsequently that the Branch Manager had been "relocated".

 

[gotlost]

I had a problem with Krung Thai some 20+ years ago, withdrew all my money and have never used them since.

I had a 20,000 baht fixed 1 year deposit (a requirement then for those living here and leaving Thailand temporarily, to be dipped into by the tax authorities if they suspected you of working and withholding tax) At the end of the 1 year the Branch Manager refused to refund the money, requiring me to travel to Bangkok Tax Office to obtain the cancelled guarantee. I refused -took it up with the KTB Vice President, and the cash + interest was subsequently brought to my home by a bank official. I heard subsequently that the Branch Manager had been "relocated".

This says it all...

Search Results
Krungthai Bank PCL
www.ktb.co.th/ktb/(S(z5rfqq45gip2lh45yogqclbj))/en/index.aspx
The largest state owned financial institution in Thailand. KTB provides a full range of financial services to all clients throughout the country and around the world.


The largest state or Thai Mafia owned bank.Think1

KEY word STATE owned.

 

[Coffee]

re: Rice's query

Might have to do with the Dept of Treasury FBAR requirements 'FinCEN form 114' or new IRS Form 8938 for US citizens residing stateside and/ or abroad with foreign accounts or holdings.

Possibly simplifies the US Govt basically identifying citizen assets for security purposes or identifying financial assets to garnishee.

Additionally, ALL interest accrued in foreign accounts must be reported to the IRS.

Life's a bitch...so are taxes...boobs2...but so are tits or anything with wheels.

{Personally I believe if you answered "I am a US citizen" , then it becomes a pain in the arse for bankers in Thailand who would rather not have to collect additional reporting and troublesome paperwork.}

 

[isanbirder]

This says it all...

Search Results
Krungthai Bank PCL
www.ktb.co.th/ktb/(S(z5rfqq45gip2lh45yogqclbj))/en/index.aspx
The largest state owned financial institution in Thailand. KTB provides a full range of financial services to all clients throughout the country and around the world.


The largest state or Thai Mafia owned bank.Think1

KEY word STATE owned.

When I moved to Krasang, I had a choice of three banks, Krung Thai, Omsin, and BAAC. Go figure which I would choose.

 

[gotlost]

My take on this disclaimer by KTB... They do have a branch in Los Angles California which is home to the largest Thai population outside Thailand. Bangkok Bank has a branch in New York City. Most American expats use Bangkok Bank for numerous reasons which KTB can not compete with. Bangkok Bank concours with the US Government requirements for overseas transactions which apparently KTB does not. Therefor if your a US Citizen this is not the bank for you.