I have used my TMB bank for several years, just noticed they want customers come by local branch with id etc for update records

Did this when opened account, anyone been there and knows why it is happening now?

 

 

Thanks

MOVED TO BANKING.

KYC (Know Your Customer) seems to be gaining traction in the banking industry worldwide. Maybe it has finally reached Thailand.

 

I deal with a number of company bank accounts in overseas locations and KYC regulations are becoming more stringent with info updates demanded more often. India, in particular, is a real pain on such matters, and most other corporate issues.......!! 

 

Given recent bank connected scams, perhaps a push for KYB (or KYW) regulations is in order.

not sure about it , but in 2023 Thailand joins active the OECD international tax reporting ...., with test cases in 2022

Screenshot part of

https://www.oecd.org/tax/automatic-exchange/commitment-and-monitoring-process/AEOI-commitments.pdf

Found this info about upcoming merger, maybe this is the reason?

 

Update on the merger between TMB and Thanachart - TMB Bank Public Company Limited

Just now, kamelot said:

Found this info about upcoming merger, maybe this is the reason?

 

Update on the merger between TMB and Thanachart - TMB Bank Public Company Limited

Could also be the case ....,

but in my country one bank taking over my bank i use  , and this is going on already 1,5 years ..... but no questions asked up to now ....

while a second one from me in home country asked that every 4 years up to now ..... so ...... could also be just a marketing inquiry 

21 hours ago, kamelot said:

I have used my TMB bank for several years, just noticed they want customers come by local branch with id etc for update records

Did this when opened account, anyone been there and knows why it is happening now?

 

 

Thanks

Krungthai requested this from me a couple of weeks ago..luckily had it on my phone.

21 hours ago, kamelot said:

Found this info about upcoming merger, maybe this is the reason?

 

Update on the merger between TMB and Thanachart - TMB Bank Public Company Limited

that's an old article,  and the merger was completed in 2020.

Thai Military Bank! Name, Rank and Serial Number thanks, Private! And stand at attention!

They only do it so that they can watch the threads of paranoia appear on Thaivisa!    Or, KYC.

22 hours ago, kamelot said:

I have used my TMB bank for several years, just noticed they want customers come by local branch with id etc for update records

Did this when opened account, anyone been there and knows why it is happening now?

They haven't asked me to do this.

And haven't managed to record my new passport number despite me filling in the forms twice in the past 4 years.

Was in my local branch today, signed a bunch of papers again. Copy passport, workpermit, etc

 

Almost same process as opening account 5 years ago..lol

 

TIT

Op and others,

 

You are being tracked and identified.  They use this information for everything from facial recognition update, security protocols, statistical transactions and how much money you are transacting and origin and destination of these monies.

 

This started at  Kasikorn Bank in March of 2019.  Its a law/regulation from Central Bank of Thailand to all Banks. 

 

However, ask any Bank manager for a copy of the policy or the regulation, and suddenly, Voila! Its lunch time and/or time to use the restaurant, unscheduled meeting....etc.etc.

 

Ignore the problem, and it goes away.... 

I called TMB to ask about this. I also received a request to update my info.

 

They merely want to ensure that their records (Address, passport number, telephone, email address, etc) that you will have given them before, is all current. Nothing sinister about that.

 

If you have the TMB banking app, you can update everything online.

 

If you prefer, you can take your docs to your branch and the bank clerk will update everything you.

 

Simples.

Same as everyone wants your email, FB details etc. 

Just fill in something of irrelevance; even a bank can take it to the bank that customers will keep them updated on addresses, phone numbers etc., i.e. the essential information. My income, civil status, number of children as well as if I live in own/rented property in a condo/house or tent is absolutely irrelevant to a functioning business relation between a bank and a person - me thinks! Ah, and yes, if they ask about domestic pets, just fill in something like the Tasmanian devil ....... will appear as quoted in your customer record, I promise you!