Dangerous assets declaration form from Bangkok Bank

[SCOTT FITZGERSLD]

19 hours ago, metempsychotic said:

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.

did the philipine bank give you credit  / debit card in USD?

[SCOTT FITZGERSLD]

23 hours ago, david555 said:

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 …) ????

i don't think we are talking about the same dutchman.

https://www.vice.com/en_us/article/avyay5/johan-van-laarhoven-interview-876

[SCOTT FITZGERSLD]

22 hours ago, Max69xl said:

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. 

this is not just about "money laundry paranoia". it is also about "account blocking and other bank headechs paranoia". banks, as greedy as they are, are using this CRS / FATCA mass to fine their customers all kinds of fees and penalties. for example, some european banks charge now 5000 EURO fine for "reporting false information". which means, if i declared that my income is 5000-1000 euro, but few years later my income became 10000-20000 euro, and i did not report to the bank 0 boom, 5000 euro fine.

other banks say that if you did not report to them within 30 days about any change in your info - they will lock / block your account , which means more fees to lawyers to deal with the bank.

 

if you will check the bottom line on the bangkok bank form, it says : "i hereby declare that al information here is complete and accurate..." - which sounds like a preparation for a juicy law suit from the bank, in case the information "was not complete". those things happan now all the time in EU and US, and thailnd will follow as usual.

[SCOTT FITZGERSLD]

On 1/9/2020 at 10:24 PM, topt said:

For someone who on previous threads was quite vocal about the issue of tax reporting it seems like you have a very short memory.

 

Even for someone as paranoid as you seem to be I cannot believe you gave them detailed genuine information......

 

I have had to fill in similar forms for western financial institutions. Personally I make it as general as  can so it is pretty much worthless. I doubt as others have posted that the staff member you were dealing with would have even bothered to read and understand your answers.

 

If you are that worried close your account as you suggest and keep your money under the mattress...............

 

Oh and CRS will happen, just a question of when. Perhaps you may want to find another banking jurisdiction....

seems like you are being following me and i made you thinking...but

it's nothing personal, mate, take it easy.

we are just trying to help each other on new banking developments.

[ballpoint]

The answer is quite simple.  Just declare that you don't own any dangerous assets.

[ThomasThBKK]

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 is part of CRS and FATF.

 

Singapore doesn't open accounts anymore for europeans living in europe and americans (no matter where they live), exceptions apply of course ($$$) but that's the general stance.

 

Singapore still opens accounts for europeans that live outside of europe tho, so no problem to open an account if you life in Thailand.

 

Both Thailand and Singapore are part of CRS, Thailand hasn't implemented it yet tho.

CRS doesn't matter for most people, as Thailand is their residence - so it will get reported to Thailand, but Thailand itself doesn't care about assets outside of Thailand. Good for us.

 

Make sure to give a thai tax id to your offshore banks so they won't report your <deleted> to your home country!

 

Quote

I would suggest you report your income to whomever you are required to report it to and pay such tax as you are required by wherever to pay. Then no worries.

 

 

That's thailand for most of us. So no issue as long as you don't move it into thailand the same calender year as earned.

[david555]

1 hour ago, SCOTT FITZGERSLD said:

i don't think we are talking about the same dutchman.

https://www.vice.com/en_us/article/avyay5/johan-van-laarhoven-interview-876

talking definitely about the same Dutchman "coffeeshop chain" person  

[david555]

6 minutes ago, ThomasThBKK said:

Singapore is part of CRS and FATF.

 

Singapore doesn't open accounts anymore for europeans living in europe and americans (no matter where they live), exceptions apply of course ($$$) but that's the general stance.

 

Singapore still opens accounts for europeans that live outside of europe tho, so no problem to open an account if you life in Thailand.

 

Both Thailand and Singapore are part of CRS, Thailand hasn't implemented it yet tho.

CRS doesn't matter for most people, as Thailand is their residence - so it will get reported to Thailand, but Thailand itself doesn't care about assets outside of Thailand. Good for us.

 

Make sure to give a thai tax id to your offshore banks so they won't report your <deleted> to your home country!

 

 

 

That's thailand for most of us. So no issue as long as you don't move it into thailand the same calender year as earned.

Screenshot part of ...PDF January OECD website (CRS inventors ..!)

OECD 2020 countrys at Januari 2020.pdf

[metempsychotic]

1 hour ago, SCOTT FITZGERSLD said:

did the philipine bank give you credit  / debit card in USD?

No just on the ph account. But I did not apply for one on usd so not sure if it were possible.

 

Fyi there was a similar form for the application.

[Sheryl]

1 hour ago, SCOTT FITZGERSLD said:

 

if you will check the bottom line on the bangkok bank form, it says : "i hereby declare that al information here is complete and accurate..." - which sounds like a preparation for a juicy law suit from the bank, in case the information "was not complete". those things happan now all the time in EU and US, and thailnd will follow as usual.

 

Oh for heavens sake.

 

Very, very much doubt there has been a single case, ever, of a bank suing a customer over something like this.

 

Thailand is not a particularly litiginous society, except when it comes to perceived defamation.

[metempsychotic]

1 hour ago, SCOTT FITZGERSLD said:

i don't think we are talking about the same dutchman.

https://www.vice.com/en_us/article/avyay5/johan-van-laarhoven-interview-876

Yes,thats the same guy. He was momey laundering.

[Golden Triangle]

You really are making a mountain out of a  molehill. Unless you are trying to hide millions of $ or Baht from the authorities I don't see what the hell you're on about.

[Max69xl]

1 hour ago, SCOTT FITZGERSLD said:

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 !!

You never ever transfers large amounts of money in your "trustworthy" gf's/wife's bank account. It's just begging for problems. 

[Max69xl]

8 minutes ago, Golden Triangle said:

You really are making a mountain out of a  molehill. Unless you are trying to hide millions of $ or Baht from the authorities I don't see what the hell you're on about.

I agree. There's no problem what so ever filling in a piece of paper at the bank. This will probably happen to loads of americans because of the money laundering paranoia in the US. Bangkok Bank is just doing what they're told to do. 

[Max69xl]

18 minutes ago, metempsychotic said:

Yes,thats the same guy. He was momey laundering.

Momey laundering? Is that a new term? ????

[Max69xl]

1 hour ago, SCOTT FITZGERSLD said:

this is not just about "money laundry paranoia". it is also about "account blocking and other bank headechs paranoia". banks, as greedy as they are, are using this CRS / FATCA mass to fine their customers all kinds of fees and penalties. for example, some european banks charge now 5000 EURO fine for "reporting false information". which means, if i declared that my income is 5000-1000 euro, but few years later my income became 10000-20000 euro, and i did not report to the bank 0 boom, 5000 euro fine.

other banks say that if you did not report to them within 30 days about any change in your info - they will lock / block your account , which means more fees to lawyers to deal with the bank.

 

if you will check the bottom line on the bangkok bank form, it says : "i hereby declare that al information here is complete and accurate..." - which sounds like a preparation for a juicy law suit from the bank, in case the information "was not complete". those things happan now all the time in EU and US, and thailnd will follow as usual.

I have never heard about any europeans needing to fill in the extra form which several americans have reported about. 

[david555]

21 minutes ago, Max69xl said:

I have never heard about any europeans needing to fill in the extra form which several americans have reported about. 

Oh no …?

look here and even more about CRS reporting questions until i brought them to OECD website and they could notice Thailand not in that time , (and now kind of promising to enter by....Year X.)

 

Got confirmation that it is not needed in my case, but explained they sended all those to their costumers with foreign address STANDARD way ,with excuses …! (as I replied straight to their jurist department as I got it repeatedly even when answered before ..!)

Edited January 12, 2020 by david555

[Peterphuket]

2 hours ago, SCOTT FITZGERSLD said:

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 !!

???? I don't talk about millions, but 1000's of more, but okay, given the responses here, not so good idea of mine.

forget it.

[Roy Baht]

I've never heard of anyone being prosecuted or fined simply for filling out a form wrong--only for committing a crime AND filling out the form wrong in order to conceal it.

The purpose of the CRS is to combat tax evasion.  The surest way to avoid tax evasion charges is to pay your taxes. 

[Sydebolle]

I had a very nasty experience at #bangkokbank in Nong Khai last week when a young customer service agent gave me tons of papers to sign prior to change an account from "non resident" to "resident" (I am a PR and they made a mistake before; which I noticed upon the issuance of a new bank book). Upon rechecking they told me that they would have to close the old account and transfer the balance to the new account. An apology would have been an apology ......

The source of the money is legal and known as Bangkok Bank was involved in these transactions from Day 1. 

This arrogant junior joker gave me the same carp on "they need to know"; I told her at all these questions of private nature and absolutely non of her nor the banks business. All information she would need is known to head office (which is issuing/changing such Foreign Deposit Accounts). The latest I was told was the fairy tale of "the Bank of Thailand wanted this information"; on rechecking on the BoTs website I could not find nothing. 

I shall see them next week, close my relationship with this bank after 30+ years and take my business of a couple of millions of Baht elsewhere. 

Be warned, another form allows them to bombard you with insurances through the bank-owned insurance company. 

They quite clearly have not understood that the customer has the choice - yet these sweeties have not the slightest clue where their salaries come from - yet! I, for one, had it with these incompetent, arrogant clerks of the monetary super race ???? 

[SCOTT FITZGERSLD]

10 hours ago, Max69xl said:

I agree. There's no problem what so ever filling in a piece of paper at the bank. This will probably happen to loads of americans because of the money laundering paranoia in the US. Bangkok Bank is just doing what they're told to do. 

it is not just a "piece of paper". anyone calling a bank form - or any other legal form - "just a piece of paper" is ignorant of how the law system works, all over the world. 

the world is acctually ruled by "pieces of papers". you can lose and win billions of dollars only because of "pieces of papers". the only proof you have to your house is just a "piece of paper". even the money you have in any bank is just "piece of paper" - names as bank statement , passbook, ext.

if one day you will come to your bank and will find that your account disapeared, the only way you have to prrof it is by "pieces of papers".

 

and now, once we understood this, we can continue to count the mountain of problems the bank - any bank - can give you, with this or that "piece of paper".

acctually, this days you can get arrested in many so called "free world" countries like EU USA and UK, just for carrying 20-30 thousand dollars without the correct "piece of paper".

for more details watch youtube " UK border control 2020".

[Max69xl]

17 minutes ago, SCOTT FITZGERSLD said:

it is not just a "piece of paper". anyone calling a bank form - or any other legal form - "just a piece of paper" is ignorant of how the law system works, all over the world. 

the world is acctually ruled by "pieces of papers". you can lose and win billions of dollars only because of "pieces of papers". the only proof you have to your house is just a "piece of paper". even the money you have in any bank is just "piece of paper" - names as bank statement , passbook, ext.

if one day you will come to your bank and will find that your account disapeared, the only way you have to prrof it is by "pieces of papers".

 

and now, once we understood this, we can continue to count the mountain of problems the bank - any bank - can give you, with this or that "piece of paper".

acctually, this days you can get arrested in many so called "free world" countries like EU USA and UK, just for carrying 20-30 thousand dollars without the correct "piece of paper".

for more details watch youtube " UK border control 2020".

Don't be paranoid. This isn't a biggie like you and others think. Like I said earlier, I have only heard about Bangkok Bank customers from the US being told to fill in the form. If you have nothing to hide, why worry? 

[NanLaew]

On 1/9/2020 at 8:11 PM, Lacessit said:

There is nothing sacred about who one chooses to bank with. Close the account, and bank it somewhere else.

...if you qualify to open a new bank account that is.

[NanLaew]

8 hours ago, Sydebolle said:

I had a very nasty experience at #bangkokbank in Nong Khai last week when a young customer service agent gave me tons of papers to sign prior to change an account from "non resident" to "resident" (I am a PR and they made a mistake before; which I noticed upon the issuance of a new bank book). Upon rechecking they told me that they would have to close the old account and transfer the balance to the new account. An apology would have been an apology ......

The source of the money is legal and known as Bangkok Bank was involved in these transactions from Day 1. 

This arrogant junior joker gave me the same carp on "they need to know"; I told her at all these questions of private nature and absolutely non of her nor the banks business. All information she would need is known to head office (which is issuing/changing such Foreign Deposit Accounts). The latest I was told was the fairy tale of "the Bank of Thailand wanted this information"; on rechecking on the BoTs website I could not find nothing. 

I shall see them next week, close my relationship with this bank after 30+ years and take my business of a couple of millions of Baht elsewhere. 

Be warned, another form allows them to bombard you with insurances through the bank-owned insurance company. 

They quite clearly have not understood that the customer has the choice - yet these sweeties have not the slightest clue where their salaries come from - yet! I, for one, had it with these incompetent, arrogant clerks of the monetary super race ???? 

My idea of something 'very nasty' is pulling a band-aid of a wound and finding maggots in it.

 

Being asked to comply with Bangkok Bank's KYC (Know Your Customer) rules isn't nasty at all. When you consider that the whole KYC rigmarole is something of an American invention and they are forcing the banks of all foreign nations that correspond with American banks (and that is 99.9% of them) to comply with American KYC procedures or risk being unable to move any money anywhere, such is the structure of global banking where 99.9% of all foreign remittances pass through NYC.

[SCOTT FITZGERSLD]

1 hour ago, NanLaew said:

such is the structure of global banking where 99.9% of all foreign remittances pass through NYC.

i know the KYC regulations and i have few bank accounts in other countries who apply those KYC. no bank ever gave me a form like bangkok bank did. AS YOU can see from the form, it is asking for the very personal questions of your "income" and than "net worth", and ask you to choose to which group you belong, like in the asian caste system.

the problem with the bangkok bank form is that it is rigid, and closing on you legaly, as you are forced to sign that "all information is true complete and accurate". but hey, what i you just got promoted? or close a nice deal? or heritance? or just bougth the right stock in the right time? than you mught become a liar

in the eyes of bangkok bank, and this form  - very stupid form indeed - gives them the right to sue you, and win (well, in thailand the foreigner allways lose, so it won't mattar).

when i tried to complain about it to the quite nice young banker, she called her older nasty superviser, sho just told me in harsh voice: "you can't get the signed form". her tone was: "you don 't like it - take your money and f... off". she could not care less. in response i just got up from my chair and left without

saying thanks (did you notice that thai bankers never say thank you? they just get your thanks without response, as if it is them who do you a favour for even going to work).

[SCOTT FITZGERSLD]

1 hour ago, Max69xl said:

Don't be paranoid. This isn't a biggie like you and others think.

i am not paranoid and i don't think it is "biggie". it just makes me think about doing more business in thailand. you see, i came to this bank with good will, i wanted to open investment account, i wanted to help the thai economy bla bla bla...now that i see the arroggant and rude attitudes i got from thai banks, i will

take my money else where, or just keep it in my overseas account and buy from there investments in the thai market, like ISHARESthailand and TEMPLETON thailand...those arrogant stupid thai bankers will not get commisions from those transactions, and i will keep in thailand only the minimum amounts neccasary for my living expenses. don't feed donkeys with tiramisu !!

[ericthai]

On 1/9/2020 at 8:24 AM, 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.

I've opened several accounts prior to ever having a work permit. 

Someone on a non-o wont have a work permit but still needs a bank account. 

 

In Thailand the words "no" or "dont have" is not always "no" or "dont have" , it could be yes, but they dont know and dont want to check. So, just like everything else in Thailand no person or branch will give you the same info. They only say what they think is correct.  

[bbabythai]

On 1/9/2020 at 8:12 PM, SCOTT FITZGERSLD said:

yes, seriously.

i acctually went to the bank and asked to get the form, or to fix it.

they came back with my file and the form in it, but said firmly : "you will

not get the form !".

if you heard about the recent developments in international banking, you 

would also be worried. 

banks are closing / blocking / even confiscating accounts in masses, especially 

for foreigners.

and in a country like thailand, with a rigid and twisted justice system (just few weeks ago

thai courts released a serial killer after 7 years in jail for "good behaviour". and he killed another woman !!)

even a form like this can get you in trouble.

besides, thailand will join soon the CRS and all bank info will be reported. but they

did not tell me that when i signed the damn form.

I think you are a bit paranoid no offense. 

[Peterphuket]

On 1/12/2020 at 10:41 AM, SCOTT FITZGERSLD said:

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 !!

I am the first one to give another advice to you?

Go to a dentist, make choice for a Thai, they have affordable prices.????

[Max69xl]

11 hours ago, SCOTT FITZGERSLD said:

i know the KYC regulations and i have few bank accounts in other countries who apply those KYC. no bank ever gave me a form like bangkok bank did. AS YOU can see from the form, it is asking for the very personal questions of your "income" and than "net worth", and ask you to choose to which group you belong, like in the asian caste system.

the problem with the bangkok bank form is that it is rigid, and closing on you legaly, as you are forced to sign that "all information is true complete and accurate". but hey, what i you just got promoted? or close a nice deal? or heritance? or just bougth the right stock in the right time? than you mught become a liar

in the eyes of bangkok bank, and this form  - very stupid form indeed - gives them the right to sue you, and win (well, in thailand the foreigner allways lose, so it won't mattar).

when i tried to complain about it to the quite nice young banker, she called her older nasty superviser, sho just told me in harsh voice: "you can't get the signed form". her tone was: "you don 't like it - take your money and f... off". she could not care less. in response i just got up from my chair and left without

saying thanks (did you notice that thai bankers never say thank you? they just get your thanks without response, as if it is them who do you a favour for even going to work).

"but hey, what i you just got promoted? or close a nice deal? or heritance? or just bougth the right stock in the right time? than you might become a liar"

What are you talking about? If you were honest when you checked the boxes about income and net worth, how the h**l can you become a lier because of a promotion or inheritance? Nobody has a crystal ball, but normally when working, when moving to another company or you get promoted, your salary will probably increase,right? Maybe you became the owner of your parents house when they passed away. It happens all the time.

If this is so scary for you, then ask your bank if your info needs to be amended. How hard can it be?