Krungsi Bank and LTF transfers

[scoutman360]

Starting this year, Thailand Revenue Department decided to stop sending tax refund checks and now we must take a letter to Krungsi bank to get the money put into one of their fancy accounts or cards. So, my best option is to open an account with them.

 

I currently have LTF and RMF accounts with Bangkok Bank. Going forward, I really don't need a Bangkok Bank account if I can transfer the LTF and RMF account from Bangkok Bank to Krungsi Bank. If I transfer the LTF and RMF money from Bangkok Bank to Krungsi Bank, does anyone know if Krungsi will respect my Bangkok Bank vesting years? I don't want to start this vesting all over again.

 

Drunken fools to say, "call Krungsi", please refrain. Thank you.
 

[Kwasaki]

9 hours ago, scoutman360 said:

does anyone know if Krungsi will respect my Bangkok Bank vesting years ?

Go to the Krungsri bank and ask might not be that straight forward.

[YT3k72Em]

It's Krung Thai, not Krungsri. 

 

Forget about moving your LTFs.  They are not even in Bangkok Bank, they are in an Asset management company owned by Bangkok Bank and are not movable.

There is no harm in having a Bangkok Bank account and a Krung Thai account.

 

[scoutman360]

2 hours ago, YT3k72Em said:

It's Krung Thai, not Krungsri. 

 

Forget about moving your LTFs.  They are not even in Bangkok Bank, they are in an Asset management company owned by Bangkok Bank and are not movable.

There is no harm in having a Bangkok Bank account and a Krung Thai account.

 

As a U.S. citizen, it means more government reporting. I had read that a new law allows LTF transfers to an equivalent account. Or maybe that is only for RMF?

[YT3k72Em]

You are not required to open an account at Krung Thai. You can just get your refund on the card and withdraw it from the ATM right away.

[GarryP]

Sign up for PromptPay and get the tax refund transferred directly to your Bangkok Bank account. It is simple and straight forward.

[scoutman360]

58 minutes ago, GarryP said:

Sign up for PromptPay and get the tax refund transferred directly to your Bangkok Bank account. It is simple and straight forward.

PromptPay is only for Thais (according to other posts). Not sure if PromptCard can transfer directly at an ATM, but if possible, that would work.

 

1 hour ago, YT3k72Em said:

You are not required to open an account at Krung Thai. You can just get your refund on the card and withdraw it from the ATM right away.

Refund is too large. Not possible

[GarryP]

7 minutes ago, scoutman360 said:

PromptPay is only for Thais (according to other posts). Not sure if PromptCard can transfer directly at an ATM, but if possible, that would work.

 

Refund is too large. Not possible

Not correct. A number of posters have PromptPay and they are foreigners. It must be linked to a bank account. 

[metempsychotic]

5 minutes ago, GarryP said:

Not correct. A number of posters have PromptPay and they are foreigners. It must be linked to a bank account. 

prompt pay was literally rammed down my throat every time i logged in to online banking for almost a year.

 

i think pretty much anyone with online banking received the same messages to join.

[scoutman360]

20 hours ago, GarryP said:

Not correct. A number of posters have PromptPay and they are foreigners. It must be linked to a bank account. 

 

Thanks for this! I was able to register for Promptpay online for Bangkok Bank. Just for fun, I checked Kasikorn and SCB websites, and all said the same...Thai National ID Card not required. Only local telephone number is needed. I think some previous posters on TV were misinformed.

 

All Promptpay system is doing is connecting your telephone number to your bank account (or Thai ID card if you have it). This way, you just hand over your telephone number to someone and they can transfer money to you without knowing your bank account number.

 

[YT3k72Em]

38 minutes ago, scoutman360 said:

 

Thanks for this! I was able to register for Promptpay online for Bangkok Bank. Just for fun, I checked Kasikorn and SCB websites, and all said the same...Thai National ID Card not required. Only local telephone number is needed. I think some previous posters on TV were misinformed.

 

All Promptpay system is doing is connecting your telephone number to your bank account (or Thai ID card if you have it). This way, you just hand over your telephone number to someone and they can transfer money to you without knowing your bank account number.

 

Opening an account is pretty straightforward if you have a work permit.

 

Previous posters weren't misinformed. Yes, you can register a promptpay with a phone number but not for a tax refund. Only those registered with a 13-digit Thai ID number can be used for receiving a tax refund. This is written on your refund letter. (in Thai).

[scoutman360]

2 hours ago, YT3k72Em said:

Opening an account is pretty straightforward if you have a work permit.

 

Previous posters weren't misinformed. Yes, you can register a promptpay with a phone number but not for a tax refund. Only those registered with a 13-digit Thai ID number can be used for receiving a tax refund. This is written on your refund letter. (in Thai).

 

Thanks. I haven't got the refund letter yet.