Is Thailand Value for money

[John9]

I opened new fixed deposit account with Kasikorn Bank transferring money from my savings account with them. While doing that I was asked to fill in three forms which asked country of residence address (UK), working status, ( I stated retired as not working here ) Thailand Address, Income tax  (TIN) Number etc. Two photos were also taken. Has anyone experienced or done this before ? I had deposit  account with them but never had to give so much information although I did not give TIN and was accepted but want to know if this is only with Kasikorn Bank or other banks as well ? Will other banks accept deposit without giving all detailed information ? I asked for copies of form I signed but was refused saying its for Bank use only. Please comment, confirm experiences, advice.

[worgeordie]

It's all about money laundering,tax evasion, wonder how all

the BIG corruption money gets moved around,when I moved

some money from fixed account to saving account in same

bank,they wanted to know where the money had come from !

 

You can try other banks they might not be so strict in the

requirements,form filling,might be an idea to open up a

couple of accounts,just keep a few THB in,as things could

get worse,I have a few accounts, but opened long time ago

when it was easy to.

 

regards worgeordie

 

[Aussieroaming]

What rate did they give you?

[John9]

For 6 months rate was 1.15%. Bangkok Bank has 1.25% rate for 6 months.

[Banana7]

When they tell that they will not give you a copy of a form that you signed, take a photo with your phone. I told them I need a copy of all signed agreements because I can't remember everything on the forms.

 

In most western countries, like Canada, an agreement or contract is not binding unless all parties get a copy of the document, signed by all parties. But this is Thailand, and banks don't have be fair with their customers.