Dangerous assets declaration form from Bangkok Bank

[freeman01]

Only way to undo this is by closing the account.

[david555]

For those who would be concerned about CRS  …. here in Pdf you can see that Thailand has not entered it and even did not set a date for entering , in the next first link a financial expert talks in the 6th part of page about Thailand …. nothing yet to worry , but of course on a particular personal inquiry Thailand could respond, or even in a own inquiry....

https://austchamthailandadvance.com/2019/01/30/february-2019-crs-is-happening-now-and-creeping-around-the-world/

 

In this one can check by checking menus about any country ...and for Thailand only shows ….. 0 !

http://www.oecd.org/tax/automatic-exchange/country-by-country-exchange-relationships.htm

AEOI-commitments marked yellow.pdf

[Sheryl]

15 minutes ago, david555 said:

For those who would be concerned about CRS  …. here in Pdf you can see that Thailand has not entered it and even did not set a date for entering , in the next first link a financial expert talks in the 6th part of page about Thailand …. nothing yet to worry , but of course on a particular personal inquiry Thailand could respond, or even in a own inquiry....

https://austchamthailandadvance.com/2019/01/30/february-2019-crs-is-happening-now-and-creeping-around-the-world/

 

In this one can check by checking menus about any country ...and for Thailand only shows ….. 0 !

http://www.oecd.org/tax/automatic-exchange/country-by-country-exchange-relationships.htm

AEOI-commitments marked yellow.pdf 347.4 kB · 0 downloads

 

They have committed to entering it. See

 

https://forum.thaivisa.com/topic/1089086-has-thailand-already-joined-the-crs-system/

 

[david555]

23 minutes ago, Sheryl said:

 

They have committed to entering it. See

 

https://forum.thaivisa.com/topic/1089086-has-thailand-already-joined-the-crs-system/

 

Please the list at oecd countries 2020

I would never argue Sheryl about insurances or Health …. but ...I saw you never checked the links I gave , only referring to Thai visa posting where all contradicting an guessing , now this is straight from OECS website ..

 

O.K. check this latest about the OECD countrys , look for the yellow marker s  …. and this one Sheryl is the list from 2020 ????

OECD countrys at Januari 2020.pdf

Edited January 10, 2020 by david555

[Sheryl]

I did check them. But it is a list o countries already implementing it. You cannot see from it what the status is for countries not on the list.

 

Thailand has committed to this, Cabinet resolution passed last year

 

https://globalcompliancenews.com/thailand-common-reporting-standard-potential-impacts-financial-institutions-thailand-residents-20190110/

[david555]

9 minutes ago, Sheryl said:

I did check them. But it is a list o countries already implementing it. You cannot see from it what the status is for countries not on the list.

 

Thailand has committed to this, Cabinet resolution passed last year

 

https://globalcompliancenews.com/thailand-common-reporting-standard-potential-impacts-financial-institutions-thailand-residents-20190110/

You did not see this in my last OECD list I specially marked it Yellow ….

 

And screenshot from the page from link from that financial expert (can not print full page visible ..)

Edited January 10, 2020 by david555

[tom in bangkok]

On 1/9/2020 at 8:48 PM, SCOTT FITZGERSLD said:

well, banks are banks, but a fair bank will tell you that you are about to sign an important form.

that is not what the bangkok bank clerk did. 

Mate you're not living in a place like Australia where you get a fair go and where banks won't let you sign anything before they finish their 10 minute spiel/disclaimer about the main details. You should find a different bank.

 

After I filled in a standard information form for KBank I was asked what colour debit card I preferred. Even if you don't speak Thai and live in the sticks, mate, there is at least one other option -- KBank.

 

I really do not understand why people are so loyal to their bank after (sometimes) repeated issues to do basic things.  I saw a weird payment on my account yesterday and picked up my replacement card today. Is it really this hard to spend 30-45 minutes at a bank to open a new account?

[tom in bangkok]

To add to my reply, if OP doesn't bother to sign up to a different bank then I have no sympathy. Masochism for the sake of an imagined principle.

 

BKK Bank and KBank own more than half of the market share combined. If you're not happy with either bank and you live in Bangkok then you need to get a grip and realise that Thailand doesn't have royal commissions or enquiries into the banking industry, and so branch policy depends on how the owner/manager feels on that particular day.

 

Find a new bank or deal with your current one.

Edited January 10, 2020 by tom in bangkok
clarity

[Guest]

On 1/9/2020 at 8:24 PM, SCOTT FITZGERSLD said:

why won't you try it yourself and see what you get (to save your time, i will tell you how it'll go:

thai banker : you have work permit?

you: no.

thai banker: cannot.

rubbish most of the expats in thailand have bank accounts and no work permit

[Guderian]

I got something similar from Barclays International a few years ago, a "Source of Funds" form that I had to complete and return by a certain date or they'd lock my accounts. They claimed it was a new requirement from somebody, the EU or IRS or Jersey regulator, I can't remember. It was so woolly, though, that it was impossible to give a definite response. I mean, just about everyone's income will be partly through work (via an occupational pension if you're old enough) and partly through investment (bank account interest, pitiful though it may be, never mind "real" investments). The same thing with your future sources of income. If interest rates went back up to 5% it would make a large difference to the split in my income, but nobody knows what will happen to them. I sent it back and that was the last I heard of it. A waste of time.

[topt]

7 hours ago, tom in bangkok said:

BKK Bank and KBank own more than half of the market share combined.

Where did you get that from?

See here -

http://asianbanks.net/HTML/Countries/TL/mktshare.htm

[kiwikeith]

On 1/10/2020 at 1:54 AM, bkk6060 said:

Seriously?

I bet 99% it is put in some file box never to be used or looked at again.

I would not worry about it.

The only time you need to worry is if you are laundering money from your country into Thailand, in which case your countries bank would be investigating you and if they found the form from the bank ,then if you are being bad you would have a problem.

My Thai wife inquired about buying a house here and the bank wanted her to show where the money was coming from and how it was acquired and to sign all sorts of declarations .

International money laundering is a big issue with banks world wide now you have to sign these forms when buying a house in NZ now and when taking money out.

Be assured the form will not be thrown in a draw and forgotten, however if circumstances change legally you have nothing to worry about.

[AAArdvark]

On 1/9/2020 at 8:34 PM, SCOTT FITZGERSLD said:

tax problems, like most people on this planet

No at all true.  With your attitude, I am surprised they let you have an account to begin with.

[Suradit69]

On January 9, 2020 at 8:20 PM, Lacessit said:

Try this:

Walk into a bank of your choosing with your passport and 200,000 baht in cash, and tell the staff you want to open an account.

If they don't fall over themselves getting you signed up, I'll be very surprised.

 

 

I agree opening a bank account is not as difficult as some people make it out to be, but I doubt bank employees would go all giggly if you            flash 200 k .

[LukKrueng]

On 1/9/2020 at 8:34 PM, SCOTT FITZGERSLD said:

i am not a u.s. citizen and i do not engage in any criminal activity.

however, i do suffer from some tax problems, like most people on this planet (excl. salary man).

so yes, these days governments. not just the U.S. , do follow their tax money all over the world.

and this can get the unsuspecting expat to serious problems and years in jail, like in the

case of that dutchman i mentioned.

Just googled the dutch man story you keep referring to. If you are anything like him you should be really worried. But if not, I see no reason to be worried. He wasn't caught due to a bank fraud. Police were actually investigating "housing fraud, money laundering and other [signs] of crime" and found 350K Euro in his washing machine - seems he was actually laundering the money ????

 

 

[david555]

5 minutes ago, LukKrueng said:

Just googled the dutch man story you keep referring to. If you are anything like him you should be really worried. But if not, I see no reason to be worried. He wasn't caught due to a bank fraud. Police were actually investigating "housing fraud, money laundering and other [signs] of crime" and found 350K Euro in his washing machine - seems he was actually laundering the money ????

 

 

And on top of that I seems to being much 20 € bills ….that is already an indicator police get suspicious more , especially  when connected to customer related payments (in his particular Dutch coffeeshop case …) ????

[Max69xl]

On 1/9/2020 at 8:14 PM, SCOTT FITZGERSLD said:

this is what i plan to do, problem it is not so easy, as i allready transfered some money to this account, and opening a new account in thailand - or anywhere in the world - is not easy these days.

Are you by any chance from the US? If so, this is about the money laundering paranoia. You don't have to worry about the form. Why would you become a liar just because some of the numbers you filled in have changed? Just ask the bank if you need to officially change them. I guess they will say, no need. Don't listen to paranoid posters telling you to change bank because of this. They don't know what they're talking about. 

[1FinickyOne]

On 1/9/2020 at 8:34 PM, SCOTT FITZGERSLD said:

i do suffer from some tax problems, like most people on this planet

thats just not so... 

[Peterphuket]

On 1/9/2020 at 8:46 PM, SCOTT FITZGERSLD said:

yes.

but i was not warned / told that this might be used for CRS reporting.

so i did not think much when i filled it.

now i am learning that this kind of form can get me in serious troubles, even 10 years

from now. that's nasty from the bank side. other banks in OECD countries do tell you

that the form can and will be used to report to other countries, but in thailand whey do it

all with that garfield smile...

To give you an advice, if you have an Thai partner, who you can trust, let her open an account, on her/his name ask for a debitcard, take the book, and for sms message, when you like to transfer money, use your own mobilphone.

It saves you a lot of problems, believe me.

[Peterphuket]

On 1/10/2020 at 11:39 AM, Tayaout said:

Cambodia and Philippines are one of the rare countries that are not part of CRS. Not sure about Hong Kong and Singapore but its not easy to open account there anymore. 

Singapore it is to long ago so I don't know, but Hong Kong yes, the first they ask for is workpermit, if you don't have, forget it.

[Max69xl]

1 hour ago, Peterphuket said:

To give you an advice, if you have an Thai partner, who you can trust, let her open an account, on her/his name ask for a debitcard, take the book, and for sms message, when you like to transfer money, use your own mobilphone.

It saves you a lot of problems, believe me.

That's a solid advise, trust your thai gf and open an account in her name. First, if the money is needed for your visa/extensions, it's not accepted at immigration. The account has to be in your name.

Second, would you really put a s*"t load of money in your at the moment "trustworthy" thai gf? What if it goes sideways? 

[khunPer]

On 1/9/2020 at 1:42 PM, SCOTT FITZGERSLD said:

Bangkok bank asked me to sign a form that made me more worried now, after i heard about the 100 years

My Scandinavian home country bank asks for similar – or even more specified – details. I could of course refuse to give the information, but then my bank accounts and stock market trading accounts would be closed for access. Expect that banks in many countries will ask for information to "know their customers", and prevent white washing of funds. In most cases the information are just typed into a database, and if you haven't crossed any sensitive boxes – like being a government employer with political interest receiving suspected income that would trick some flashing red alerts – no one will ever care about reading them.

[metempsychotic]

On 1/9/2020 at 8:42 PM, CGW said:

Reminds me, I walked in a bank in the PI with 5k USD to open an account, they refused, don't take cash sir, that was 1981, sure it will be the same still, banks are having to really do their due diligence now, most of it is to stop them committing crimes, though they still keep getting caught!

Nope. Philipines requires cash, a passport an acr card and a rental contract or other proof of address. Opened basic savings, usd account and linked all to online banking. Didnt get the card until the following week though, 3 business days.

[metempsychotic]

On 1/9/2020 at 8:42 PM, CGW said:

Reminds me, I walked in a bank in the PI with 5k USD to open an account, they refused, don't take cash sir, that was 1981, sure it will be the same still, banks are having to really do their due diligence now, most of it is to stop them committing crimes, though they still keep getting caught!

Nope. Philipines requires cash, a passport an acr card and a rental contract or other proof of address. Opened basic savings, usd account and linked all to online banking. Didnt get the card until the following week though, 3 business days.

[metempsychotic]

That form the op posted looks like pretty much every bank account application form I have recently filled out.

 

 

[baansgr]

On 1/9/2020 at 8:20 PM, Lacessit said:

Try this:

Walk into a bank of your choosing with your passport and 200,000 baht in cash, and tell the staff you want to open an account.

If they don't fall over themselves getting you signed up, I'll be very surprised.

providing you take out an insurance policy....that scam has been going for years

[baansgr]

2 hours ago, Peterphuket said:

To give you an advice, if you have an Thai partner, who you can trust, let her open an account, on her/his name ask for a debitcard, take the book, and for sms message, when you like to transfer money, use your own mobilphone.

It saves you a lot of problems, believe me.

A simple police report saying book and catd are lostand the bank will.issue them new ones with a new pin number...bang goes your savings....bad bad idea

[david555]

2 minutes ago, baansgr said:

A simple police report saying book and catd are lostand the bank will.issue them new ones with a new pin number...bang goes your savings....bad bad idea

For the passbook yes a police rapport would be needed, for the card ….. I doubt needed, could say machine swallowed it  (happened to me 8 years ago , KKbank just asked me which ATM , no police rapport needed , just got immediate another card )

[Chazar]

Can I declare my Wifes mouth?

[SCOTT FITZGERSLD]

21 hours ago, Peterphuket said:

To give you an advice, if you have an Thai partner, who you can trust, let her open an account, on her/his name ask for a debitcard, take the book, and for sms message, when you like to transfer money, use your own mobilphone.

It saves you a lot of problems, believe me.

that's exactly hat the dutch man i mentioned did, and the result was that his wife  - who received the millions of euros he sent to thailand to a bank account in her name - got 7 years in jail, on top of the 100 years jail time he got !!