Mac Mickmanus Posted September 7, 2022 Share Posted September 7, 2022 3 minutes ago, foreverlomsak said: When my Thai wife came to live with me in England in 20 years ago, my UK High Street bank wouldn't allow me to open a joint account with her unless she could provide Utility Bills in her name and of course no bank account = no utility bill, catch 22. So it's not something new. Why didn't you change the name on the utility bill to her name or joint name ? Link to comment Share on other sites More sharing options...
foreverlomsak Posted September 7, 2022 Share Posted September 7, 2022 Just now, Mac Mickmanus said: Why didn't you change the name on the utility bill to her name or joint name ? Tried that, exactly as I said before no bank account = no name on utility bill, probably somebody else has managed but I didn't. Link to comment Share on other sites More sharing options...
ivor bigun Posted September 7, 2022 Share Posted September 7, 2022 59 minutes ago, foreverlomsak said: Tried that, exactly as I said before no bank account = no name on utility bill, probably somebody else has managed but I didn't. my Thai wife lived in the UK with me ,she didnt have any utility bills ,but no problem with us having a nationwide joint acc ,in fact still have it,now about 25 yrs 2 Link to comment Share on other sites More sharing options...
DrJoy Posted September 7, 2022 Share Posted September 7, 2022 2 hours ago, LivinLOS said: pay the in and out % they cream off the top SCB charges 500 baht fee for all incoming foreign transfers, irrespective of the amount. 1 1 Link to comment Share on other sites More sharing options...
phetphet Posted September 7, 2022 Share Posted September 7, 2022 3 hours ago, LivinLOS said: Hes going to generate a significant taxable event and needs to ensure his Thai residency is firmed up, his UK exit status is correct (he filed it years ago but days per year is not perfect, we maintain a Irish address also that has no passport control between them) and he can pass KYC for a non UK and non Thai financial institution. This is all about ensuring everything is perfect, in advance and in correct sequence, for undisputable capital gains protection. If you don't mind me asking, What do you mean by UK exit status? What did he file? I just upped and left. Didn't tell anyone. 2 Link to comment Share on other sites More sharing options...
LivinLOS Posted September 7, 2022 Author Share Posted September 7, 2022 11 minutes ago, DrJoy said: SCB charges 500 baht fee for all incoming foreign transfers, irrespective of the amount. All banks in Thailand also charge a % fee to take out of the account, tho some can use this as thb conversion fee. It's currency and sending system dependant but 0.25 or 0.5% is usual. https://www.scb.co.th/en/personal-banking/deposits/foreign-currency-deposit-fcd.html Either way there's no way he's sending a sum of this size into Thailand. With all the issues of getting it out again Link to comment Share on other sites More sharing options...
BKKBike09 Posted September 7, 2022 Share Posted September 7, 2022 4 hours ago, LivinLOS said: This is all about ensuring everything is perfect, in advance and in correct sequence, for undisputable capital gains protection. Out of interest, what does a bank account, whether in Thailand or UK, have to do with "capital gains protection"? If your friend is selling a UK property, unless it's his primary residence then CGT liability will arise regardless of tax status / residency. Link to comment Share on other sites More sharing options...
kwonitoy Posted September 7, 2022 Share Posted September 7, 2022 5 hours ago, OneMoreFarang said: International Banking Products & Solutions | Standard Bank Beat me to it. Had one for years, easy to open Link to comment Share on other sites More sharing options...
BangersBob Posted September 7, 2022 Share Posted September 7, 2022 I informed my bank that I was zero rated for tax as I'm working overseas - so they stopped the tax deductions on interest payments. I still maintain a UK address (of a relative) but they use my Thai mobile for the banking scurity codes. So maybe the OP just needs a UK address, but can tell his bank he's working in Thailand and no longer tax resident? Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 13 hours ago, BKKBike09 said: Out of interest, what does a bank account, whether in Thailand or UK, have to do with "capital gains protection"? If your friend is selling a UK property, unless it's his primary residence then CGT liability will arise regardless of tax status / residency. Its not real estate.. And because the transaction will be reported to whatever jurisdiction the address on file is.. The address on file (which was established many many years ago) will be established by KYC based on bank account and utility bills, and then they may demand to pay that bank (but there may be flexibility there, thats not clear yet). Hence it is needed to be Thai jurisdiction where the reporting is irrelevant but not a Thai bank account where the funds wouldnt want to be sent. Finally the person concerned does have UK connection (too much in reality) and so still needs a UK bank to handle things but wants it to not be to his uk address. The next step over time is a better expat bank for him. Standard Bank above is on the list. Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 13 hours ago, BangersBob said: So maybe the OP just needs a UK address, but can tell his bank he's working in Thailand and no longer tax resident? Would have been a possible one.. I am advising him to clean up his position though.. UK cars out of his name, etc etc.. Am even looking into creating a family trust or other holding structures as we have some estate planning we need to get tidy in the next years also. Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 13 hours ago, kwonitoy said: Beat me to it. Had one for years, easy to open The fees look reasonable.. I just closed a CIM Banque in Switzerland because they have far too many standing fees, annual account statement fees, etc etc.. Citi demand 200k on deposit which is a fair bit to leave unused.. Great service but thats a penalty. Link to comment Share on other sites More sharing options...
Popular Post KannikaP Posted September 8, 2022 Popular Post Share Posted September 8, 2022 20 hours ago, Liverpool Lou said: No UK bank will open a new account for non-residents. Those you refer to will have retained a UK address on the bank's records and I doubt if any of them that need to keep the account open would dare tell the bank that they actually live in Thailand. I told Nationwide, and they sent new card & reader to my Thai address last month. Thai phone number as well. 4 1 Link to comment Share on other sites More sharing options...
Photoguy21 Posted September 8, 2022 Share Posted September 8, 2022 I have an account with Lloyds in the UK and it has my Thai address attached to it. Link to comment Share on other sites More sharing options...
KannikaP Posted September 8, 2022 Share Posted September 8, 2022 20 hours ago, ivor bigun said: you dont think that they have not told the pension service as well do you????? Not in my case, no. Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 47 minutes ago, Photoguy21 said: I have an account with Lloyds in the UK and it has my Thai address attached to it. Lloyds made it very clear they couldnt do that unless you moved to the channel islands 50k on deposit accounts.. Maybe thats just a postal link not a residence. 1 Link to comment Share on other sites More sharing options...
howerde Posted September 8, 2022 Share Posted September 8, 2022 1 hour ago, Photoguy21 said: I have an account with Lloyds in the UK and it has my Thai address attached to it. Was that set up a few years ago? I bank with lloyds and last year i enquired about a Thai address, and they said you need to be resident in the UK to have an account and cards etc would only be sent to a uk address, if i was no longer resident they said i would have to close my account and they suggested lloyds, Jersey or Guernsey 1 Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 2 minutes ago, howerde said: Was that set up a few years ago? I bank with lloyds and last year i enquired about a Thai address, and they said you need to be resident in the UK to have an account and cards etc would only be sent to a uk address, if i was no longer resident they said i would have to close my account and they suggested lloyds, Jersey or Guernsey https://www.lloydsbank.com/savings/help-and-guidance/non-ukresidents.html#:~:text=Lloyds Bank plc.,Gresham Street%2C London EC2V 7HN. Lloyds are one of the 'hard No' answers I got and clearly posted online. 2 Link to comment Share on other sites More sharing options...
Chris.B Posted September 8, 2022 Share Posted September 8, 2022 21 hours ago, OneMoreFarang said: International Banking Products & Solutions | Standard Bank Are there fees? Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 1 minute ago, Chris.B said: Are there fees? listed on the site.. reasonable if you keep 5k in there which is low for offshore. Link to comment Share on other sites More sharing options...
Photoguy21 Posted September 8, 2022 Share Posted September 8, 2022 1 hour ago, LivinLOS said: Lloyds made it very clear they couldnt do that unless you moved to the channel islands 50k on deposit accounts.. Maybe thats just a postal link not a residence. Well they still have my Thai address and I have had the account every since I came to Thailand over 30 years ago. I have told them it is where I live. Link to comment Share on other sites More sharing options...
Photoguy21 Posted September 8, 2022 Share Posted September 8, 2022 29 minutes ago, howerde said: Was that set up a few years ago? I bank with lloyds and last year i enquired about a Thai address, and they said you need to be resident in the UK to have an account and cards etc would only be sent to a uk address, if i was no longer resident they said i would have to close my account and they suggested lloyds, Jersey or Guernsey It was about 40 years ago I opened the account with them which I guess could make the difference. 1 Link to comment Share on other sites More sharing options...
SidJames Posted September 8, 2022 Share Posted September 8, 2022 Remember not to transfer the funds to Thailand in the same calendar year that it was realised or it can be taxed in Thailand as income. Transfer on or after 1st January. 1 Link to comment Share on other sites More sharing options...
OneMoreFarang Posted September 8, 2022 Share Posted September 8, 2022 46 minutes ago, Chris.B said: Are there fees? Call them and find out. Or check their website. There are different types of accounts with different minimum amounts, different currencies, etc. Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 1 hour ago, SidJames said: Remember not to transfer the funds to Thailand in the same calendar year that it was realised or it can be taxed in Thailand as income. Transfer on or after 1st January. Exactly part of the calculations in this. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted September 8, 2022 Share Posted September 8, 2022 6 hours ago, KannikaP said: I told Nationwide, and they sent new card & reader to my Thai address last month. Thai phone number as well. Good for the Nationwide, you got lucky. Did you actually tell them that you are not a UK resident, though? 1 Link to comment Share on other sites More sharing options...
KannikaP Posted September 8, 2022 Share Posted September 8, 2022 6 hours ago, LivinLOS said: Would have been a possible one.. I am advising him to clean up his position though.. UK cars out of his name, etc etc.. Am even looking into creating a family trust or other holding structures as we have some estate planning we need to get tidy in the next years also. How many more years are you expecting. Do it now Link to comment Share on other sites More sharing options...
KannikaP Posted September 8, 2022 Share Posted September 8, 2022 3 hours ago, SidJames said: Remember not to transfer the funds to Thailand in the same calendar year that it was realised or it can be taxed in Thailand as income. Transfer on or after 1st January. my pensions were earned years ago. Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 3 minutes ago, KannikaP said: How many more years are you expecting. Do it now Yeah I am 48 and its my younger brother.. Not every poster on here is the over 60s crowd.. Only most.. Link to comment Share on other sites More sharing options...
LivinLOS Posted September 8, 2022 Author Share Posted September 8, 2022 3 minutes ago, KannikaP said: my pensions were earned years ago. Pensions are taxable under Thai law in the year received.. Theres no effort made to collect that as its beyond thier ability to determine. 2 Link to comment Share on other sites More sharing options...
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