chiang mai

Hmmm, they don't so we shouldn't....not sure I buy that but each to their own.

Not so, the method used is direct IDD and there are no restrictions on the account. What if progress is being in made in both those two areas, at the same time.

Playing devils advocate.....did you think you could move here to live and not have to contribute directly to the construction and maintenance of roads, airports, public hospitals, the police force, the government, schools and universities?

My two pensions are paid directly into BBL from overseas. The SWIFT address is Bangkok and the funds are then transferred to branch using Bahtnet. Those transfers show as Bahtnet and GPSD Head Office, not FTT.

I wrote to the CEO of UOB two months ago and asked the question about international transfers, a very pleasant lady called me to explain. She said that as long as I had proof that the funds I wanted to transfer out, were brought into Thailand from overseas, there's not an issue. An FET or a foreign currency exchange form from ANY bank in Thailand, dated ANY time, would be fine. In my case, because I've been with the bank for over a decade, they could ask their Treasury Department to confirm, in case I didn't have the proof. Fortunately, I have copies of my foreign exchange receipts going back decades so this isn't a problem. Bless her, she even gave me her name and telephone number in case I had problem in the branch.

Why ever didn't you say that you don't have a sense of humor, now that I know, hello ignore list. Goodbye.

Three different posts, three different context, one trying to answer a question, one trying to clarify the definition of the word "draconian" and the third, correcting a statement that maximum penalty for not filing is 2,000 baht. What's wrong with you!

Banks are more amenable to issuing credit cards to long stay residents who have banked with them for several years and have a banking history. UOB offered me one after 8 years with them. It's a nice to have item but not essential, it also costs 4,500 baht per year but I get some of that back by way of rewards throughout the year. It's good for medical stuff, I recently charged 200k for an operation and everyone was very happy, including me.

Worldwide income is not a global tax policy, that's nonsense. Read this: https://premieroffshore.com/which-countries-tax-worldwide-income/

Krungsri was originally a Thai bank whose shares were acquired by Bank Mitsubishi, unlike the other examples such as UOB, CIMB and B of C who established Thai bank entities using their own names but established them as Thai banks. All are Thai banks, majority share ownership in all cases is with the overseas bank entity.

That's a shareholding issue, it's still as they say, a Thai bank. https://www.uob.co.th/investor-en/aboutUOB/finance-results-major-shareholders.page

Why not reduce the interest rate charge first, that would be more helpful.

I think the poster pretty much nailed it. BOJ spent around USD 35 bill, selling USD and buying YEN. https://www.ft.com/content/49fd2484-f9c9-4181-88c1-064e787e8a64

I wouldn't read too much into that, Immigration likes copies of whatever they can get their hands on. They almost certainly wouldn't know what it was for or what it signified. Next time, don't offer unnecessary paperwork unless asked, it just causes problems.

I don't see a problem with it today but the mind set you need to adopt is, what will it look like if the TRD asks me to prove something in the future and how difficult will it be to do so. In a perfect world, we'd each have separate accounts for every type of income and capital but that is just not practical for most people. The next step down is a couple of accounts and lots of supporting audit trail evidence by way of statements etc. It's all about trade offs.

Yes I do. I like the idea that when I make a purchase or a transfer, using the app., I get to see the new balance on the account. That instills confidence that we both agree how much is in the account at any point in time.

Yes, I mean it is highly desirable to be able to clearly distinguish between the various categories of funds, exempt, interest on exempt, capital and and income. If they are clearly separate and easily definable, the issue of commingled accounting goes away.

It will help you in the future if you can hold your savings in one bank account and your investment income in another, that way the funds are totally separate and there can be no question as to which is which. Perhaps something you can look into. I think this is the most important item of all. The other aspect of your income that needs looking into is whether any of your investments produce capital gains, if they do, the remittance of them is different from standard profit or dividend income. Dividend income is income you receive that comes out of the profits of the company that you hold shares in. Savings income is interest paid on the savings capital. Ideally, savings interest will be paid away into a separate account so that the principle amount is clearly ring fenced and easily identifiable. A capital gain (CG) is where you sell those shares (or other instrument) at a higher price than the amount you paid for them. If you buy and sell shares regularly, you are likely to have a CG. The final aspect of your affairs is that you should try to understand how much tax has been paid on what income because this may be useful to understand in the future, if you ever need to invoke a dual tax treaty agreement (DTA) and use the tax already paid overseas to offset any Thai tax that may be due.

I'm sure there are, but without reliable statistics your evidence is anecdotal and nothing more.

I've had a UOB account for over 10 years and regard it as a very secure bank, but I don't use it for daily banking. Instead, I use Bangkok Bank for the day to day stuff because their app is brilliant and they are constantly giving me balances on my account and I rate their security quite highly. The UOB in branch stuff can get painful at times, depending on who you speak to.

COMINGLED FUNDS 81) Funds from various sources that are all contained in the same bank account are referred to as commingled funds. Trying to account for them separately can be difficult, unless you keep complete records that show the individual sources of those funds. Much of this comes down to individual discipline and the ability to retain and file receipts and statements. 82) Many tax authorities have policies regarding commingled funds, policies such as LIFO, (last in, first out) which is primarily an inventory management technique but could be used with commingled fund accounts. The UK says that capital and gain entering a mixed or commingled account, loses its identity and that any remittance from the fund, is income first, capital second. Yet another option might be that any remittance is viewed as comprising interest/gain or income first and capital second. We are not aware of the TRD policy regarding commingled funds or even if one exists. If you hold funds in this way, until such time as the TRD policy on this is made clear, you only have two options open to you. The first is to keep detailed records that describe all the feeds into the commingled account and hope that will be sufficient, or separate the sources into their own accounts. It is more probable that the funds in a commingled account will lose their identify and that the entire account will be classed as income, unless audit trail is of a sufficient standard to persuade otherwise.

Banking rules are determined by the central bank of the country in which the bank operates, along with international standards and most countries have their own rules.

I keep checking my mail box waiting for that personalized letter....will I have to wait long do you think!

Of course it is. https://www.bankofchina.co.th/en-th/home.html

Walk into UOB Singapore and show them your UOB (Thai) account information and tell them you need assistance and they will say, sorry, I can't help you, that's a different bank/business....ditto London or anywhere else they operate. CIMB is the exactly the same, a Thai bank