topt

Perhaps it's because the brand was mentioned in the first line of the OPs post............

Amazing Thailand.........As you say just keep using it until it dies or get's so slow you have to change.

My prior SWIFT transfers even show the initials of the correspondent bank used..... It was even discussed at length years ago on ThaiVisa before the advent of Wise due to the unexpected costs that hit some people. Perhaps you should have a read of this - https://wise.com/us/blog/what-is-a-correspondent-bank

Even they don't move that quickly........ Changes were actually proposed by the Conservative govt. and Labour will apparently run with similar from April 2025 - https://www.charlesrussellspeechlys.com/en/insights/expert-insights/private-wealth/2024/regime-change-the-beginning-of-the-end-of-the-remittance-basis/

I am guessing he means a "correspondent" bank and it is very normal/common.

The credit advice I request from SCB shows a commission charge - which used to be 520 baht. The 20 baht was apparently due to the account being outside Bangkok. 500 as per their Ts and Cs. When I changed to sending with all charges paid for the advice note still shows the word Commission but the amount as zero. From memory when you SWIFT money you should have 3 options with your sending bank - Pay all, share all and receiver pays. For me this way worked out cheaper in fees but will depend on your individual bank.(s).

Can I ask why you seem so sure?

If you can it may be worth checking that the transfer would not have to go through a "correspondent" bank after leaving IB. I had this some years ago with a bank where they offered free transfers but I ended up paying $50 for a correspondent bank fee (it would not have mattered how much as was a standard amount........). More recently I offer to pay all charges and with SCB have not paid the min 200/max 500 charge either. However YMMV

If you mean a British citizen who has managed to get non domiciled status then @sometimewoodworker posted in a thread about that but, AFAIK, he is not UK tax resident. You don't necessarily - if I understand what you are asking. You can be tax resident in both places in the same year - partly complicated by the fact that the tax years are different periods.

Are you also saying you have never topped it up in any way - Ie no new money on top of whatever you originally paid for it 2 years ago?

My apologies as I was not referring to the poster you mention above so you must not have seen the exchange I am referring to.

If you remember, or saw, he also decried at least 3 UK members observations on UK domicile even when one of them had actually been through the process...... Arguments for the sake of would be a polite way to look at it. So delusional - in this instance probably yes......

It will be very interesting to see if this gets any traction beyond being "tabled for discussion"............. It has become a very serious issue for many people and the banks do not seem that interested in really finding out how and why when money goes missing. I base this on recent third hand experience with an expat working here.

I did post some observations in the Tax guide thread on what CRS doesn't really specify in this regard but it was not really followed up. Based on what I understood (which is probably completely wrong) I don't see it being tracked in any transactional way by CRS specifically.

No idea but since it is directed at non doms who traditionally are at the upper end of the "rich" scale it probably comes into play if they ever audited and or serves as check for those who want to appear squeaky clean...... Maybe start here if interested ..or bored..... https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm33520

yes outlined in this article if you go down almost to the bottom https://auresnotes.com/non-crs-countries/

In the thread where you would expect a lot of tax stuff to be posted...........on 20th August Then after that a number of posts dealing more specifically with CRS and credit cards - but not specific to the US question you raise.

Respectfully have you actually read or participated in any of the tax threads running in this or the news section? I can only assume not since there are a number of ongoing "tax" related threads in this section that you have posted. Although the information you have posted has been previously discussed I am sure there are many who probably missed out on it so it could produce yet another bumper crop of posts.........

You speak in the present tense so I have to ask you do realise that is now irrelevant for anything that was not savings prior to 31/12/2023?

Yes I get all that and a card reader is effectively another means of SCA (strong customer authentication) so an alternative to an OTP. Not all banks use card readers and I was curious about the poster's that I replied to. For example I have had to use OTP's with LLoyds for years just to log in. Lloyds offshore bank requests a phone number to call and you then have to give the numbers that you see on the screen where you are trying to log in - which recently suffered a glitch (separate thread from another poster in the Home forum) I agree the that the card reader sounds very secure. I am not sure that I would want to deal with a bank these days that didn't insist on some sort of MFA.

I presume the transfers are to existing payees. What If you wanted to add a new payee? Which bank out of curiosity and I thought all banks now had to have some sort of 2/multi factor authentication?

Yes but presumably you still need access to that no. for OTPs or whatever - unlike as claimed by another poster?

Please explain further? Even if you use an app you need a phone and in most cases it is tied to a number? Also you say this as if it is a fact for every possible financial institution?

I consider myself fortunate not to have come across him before........or if so conveniently forgotten......... The article he quotes in Khaosod English news dated 31st August has a headline (I haven't put the link as not sure allowed) The so called expert is Dr. Sopon Pornchokchai, president of the Real Estate Research and Valuation Center of the Agency for Real Estate Affairs (AREA) So actually nothing to do with the Thai Tax authorities..........possibly scaremongering just a little bit...........

If they hadn't the tax threads would have been half the length at least. https://sherrings.com/common-reporting-standard-crs-tax-laws-thailand.html