Krung Thai Bank: WTH is the tax refund check only good there?!

[Kf6vci]

Not every taxpayer has a WP. Without a WP, one cannot open a KTB account. No KTB account? Cannot cash the tax refund check!! ????????

 

Is everyone who gets a tax refund check forced to never cash the check or to open an account with KTB?

 

Can't believe this!

[colinneil]

OP why are you posting nonsense?

I have 2 accounts with Krung Thai, never had a work permit, 1 account only opened in 2018.

[poohy]

Tax refund

If its withholding tax why not pay it into your other accounts ( i presume you have other accounts)  chqs are not  bank specific cashing yes, paying in NO

BTW I opened a second account at Krung Thai about a month ago  no WP required just copy of my retirement one, took about 10 mins including internet banking. 

[KittenKong]

4 hours ago, Kf6vci said:

Not every taxpayer has a WP. Without a WP, one cannot open a KTB account. No KTB account? Cannot cash the tax refund check!!

I just pay my refund cheque into my TMB savings account every year. I have no WP and never have had.

[Pib]

The refund check can be cashed/deposited at any Thai bank "you have an account at."   Basically it must be deposited to your account....takes around a day to clear.  That's what the note on the refund check means....it does not mean you must have a KTB account.

[KhunBENQ]

As pip writes.

It's a while ago that we had such a check.

Took it to Bangkok Bank. Took a bit like two days and it was credited.

Might have cost a small fee, can't remember.

 

Why KTB?

It's kind of a "state bank".
Ministry of Finance owns the majority of shares.

All government officials/workers are paid via KTB.

Also they seem to pay the poor citizen funds etc.

 

https://en.wikipedia.org/wiki/Krung_Thai_Bank

 

 

Edited January 16, 2019 by KhunBENQ

[Pib]

Yeap, KTB is majority owned by the govt.  Tax refunds are cut from KTB assets, some old age pensions and govt payment have to be direct deposited to KTB accounts, etc. 

 

Think of KTB as one of the main "government majority owned" banks which they use to disperse payments....and sometimes the govt requires a person to actually have an account at KTB to receive certain types of govt payments. 

 

But for tax refund you can deposited them at any Thai bank you have an account at.  As KhunBENQ I deposited mine at Bangkok Bank...one day later it cleared and the money was available for withdrawal.

 

 

[JaseTheBass]

I got my tax refund letter today and there is no cheque, only a bunch of options referencing KT Bank. I'll wander down there tomorrow and try to get some sense out of somebody.

[topt]

3 hours ago, JaseTheBass said:

I got my tax refund letter today and there is no cheque, only a bunch of options referencing KT Bank. I'll wander down there tomorrow and try to get some sense out of somebody.

Just done mine today so this may help.......or not.

3 options -

Prompt Pay - apparently cannot as not have Thai ID.

Direct into KT account - no have and not really want and was not offered.

Payment by KT E-money card.

 

So the nice young lady in the KT branch started to wade through a document to try and process my information to allow me to have one of these E-money cards with the amount of the tax refund on it. She mentioned that I was the first in her branch to do this.

 

The process wasn't as straightforward as she expected resulting in a long call to some internal help line. It turned out that you can only put the persons name in the system in Thai letters (the card does not have your name on it). Once that was done it was all fairly painless. They read the barcode on the letter and then you go out to the ATM and set the 6 digit password before you can then access your money from the ATM. 

 

The card is valid for 5 years and they only need the letter and your passport to set up. Apparently you can also add money to it for paying for stuff but I did not get into the details of that.

 

For anybody in Pattaya who needs to do this the branch I used was in Central Marina (same floor as BIG C foodcourt entrance).

 

PS - anybody know why they seem to have stopped the cheque?

 

Edited February 4, 2019 by topt

[KittenKong]

11 hours ago, topt said:

So the nice young lady in the KT branch started to wade through a document to try and process my information to allow me to have one of these E-money cards with the amount of the tax refund on it. She mentioned that I was the first in her branch to do this.

I'm guessing she will be an expert on this within a couple of months. I hope she gets commission for each card issued.

[JaseTheBass]

My secretary spoke to the tax office today after being told by both Krung Thai and my bank, Kasikorn, that only Thai nationals can get the refund using the 3 methods shown on the letter.

The tax office said that cheques will no longer be issued, but another letter will be sent to foreign devils that will allow them to get their refunds. 

[Sophon]

You don't need a Thai ID number to register for Prompt Pay, foreigners can register using their telephone number instead. I got my tax refund last year via Prompt Pay.

 

Sophon

[topt]

11 hours ago, JaseTheBass said:

My secretary spoke to the tax office today after being told by both Krung Thai and my bank, Kasikorn, that only Thai nationals can get the refund using the 3 methods shown on the letter.

 

28 minutes ago, Sophon said:

You don't need a Thai ID number to register for Prompt Pay, foreigners can register using their telephone number instead. I got my tax refund last year via Prompt Pay.

 

Sophon

Left hand, right hand........????

I have proved the first statement wrong presumably because my name was transliterated into Thai but the lady who did this was under the impression you had to have Thai ID to have prompt pay - as presumably were the people JaseTheBass's secretary spoke to.

 

I am sure I had read on here before about other foreigners with Prompt Pay.

 

Be interested to hear what solution they come up with.

[1DegreeN]

I got my tax refund letter yesterday (for taxes paid in 2560) and it has the same choices - PromptPay (registered with a Thai ID) or an account or e-money card at Krung Thai bank. I bank with BBL and have PromptPay but it is registered with my passport and phone number. I'll approach BBL to see if I can get PromptPay registered to my TIN instead but not very optimistic. Haven't tried opening an account with Krung Thai yet - I don't have a WP, not sure if that will be possible. Interested to hear from other expats if, and how, they manage to receive the refund.

 

[watcharacters]

 

 

What information is required to receive  a refund of taxes withheld  on bank deposits?

[topt]

On 2/6/2019 at 2:37 PM, 1DegreeN said:

Haven't tried opening an account with Krung Thai yet

You don't need an account with the E-money card. As I explained in my post #9 they fill in all the details, give you a card which you then use to pull the money from their ATM. The card can then be left empty until next year. I don't have a work permit.

[topt]

On 2/6/2019 at 2:44 PM, watcharacters said:

 

 

What information is required to receive  a refund of taxes withheld  on bank deposits?

You need to go to your local Revenue office and apply for a Tax ID. With that you can file a claim.

What information they will need to generate the Tax ID may depenbd on your particular office.

[Bruce404]

     Just had similar experience as TOPT reported above, trying to receive a refund of taxes withheld and submitted to the Thai Revenue Department (TRD) during tax year 2561 (2018).

     As a foreigner, one gets a refund form from the TRD that offers three options, only one of which works if one does not have an account in the government-owned Krungthai Bank (KTB):  have the money put into a new (or last year's) "KRUNGTHAI E-MONEY" card (as named on the plastic, along with a 16-digit number). 

    No possibility to receive a paper check to take to another bank, nor to receive the funds by supplying a PromptPay number (in fact, one's mobile phone number). 

    Even though I have PromptPay set up with another Thai bank, and it works fine to send out or receive in funds to/from others with PromptPay, the TRD refuses to use PromptPay unless it was set up along with providing a Thai national ID number. 

    (PromptPay works by being set up online or in person by one's own bank, registering one's mobile phone number to be linked in the PromptPay system to one's own specific account at that bank.)

    It took about an hour from start to finish, once sitting down at the KTB desk in a small branch.  They scanned barcodes on the form sent to the taxpayer by the TRD, made copies of one's passport, and asked for various signatures on deposit slips apparently representing payment from the TRD's account into an e-MONEY card. 

    Once the card was handed to me, the bank staff member accompanied me outside to the KTB ATM to insert the card, login with a default password she gave me, and then immediately change it to my own.   I could have tried to use the new e-MONEY card at that KTB machine to get cash only, but decided to walk down the street to my own bank's ATM.

    At my bank's own machine, I inserted the KTB e-MONEY card, entered the new password, and tried to have its entire balance transferred into one of my own accounts.  No luck: "invalid transaction" or some such error message.

    Finally, I was able to take out the tax refund in paper currency from my own bank's ATM, which required leaving 4 Baht and 12 satang on the KTB e-MONEY card.  Then, using the same ATM, I inserted my long-standing ATM card (not KTB's) and redeposited the paper bills into my account.  It correctly counted the paper, and voila!, the process over. 

     Will have to wait until filing next year's tax forms for TY 2562/2019 to see if it's possible to enroll my KTB e-MONEY card online with the TRD so that the next refund can flow directly into that card, without my having to go into a KTB branch and repeat the whole process, or hopefully an abbreviated one by showing the existing e-MONEY card.

Edited September 1, 2019 by Bruce404