How to get my tax refund?

[Lorry]

A friend got a tax refund of 6000 B, a check, by mail.

He had to open an account with Krungthai Bank to cash this check. 

This took one hour (including checking his visa) and Krungthai Bank charged 500 Baht for an account (without ATM card - with ATM card it would have been more expensive).

 

Is this really the only way?

(Cannot use my own bank? Cannot cash the check without opening an account?)

I got a similar check,  too, but it's even less.

I am seriously thinking of throwing it away. 

Can someone else who does have a Krungthai bank account cash my check?

Any other reasonable alternative?

 

Edited June 27, 2023 by Lorry

[Pib]

Krungthai Bank does not charge Bt500 "fee" to open an account; instead they require an initial Bt500 "deposit" which can be withdrawn later if desired.    An opening Bt500 deposit is standard for a lot of Thai banks. 

 

Sorry I can't help with the "current" method the Tax Revenue Dept does refunds.  About 5 years ago when I was filing a Thai tax return/refund request for bank interest withheld although I got a refund check I could deposit/cash it at any Thai bank I had an account at.  But it could not be cashed and "immediately" withdrawn...it was for deposit only....you had to wait a few days for the check to clear then you could withdraw the funds.

 

 

[Gaccha]

I had this exact problem about 4 years ago. I had to open an account in the KrungThai bank. And then withdraw the money from the ATM of that bank. I actually forgot until your post that I even had this account.

 

But since then I have simply received the rebates directly from my employer. I have no idea how they sorted it out. 

 

I still have the bank card sitting in my work drawer.

[Thailand J]

I took my first tax refund check to KTB. The bank gave me an e-money card to withdraw the money from the ATM outside the branch. I have been doing the same every year with the refund checks.

I don't believe I opened a bank account there. I don't  understand fully what is an e-money card, may be it's similar to a gift card or a prepaid credit card.

Edited June 27, 2023 by Thailand J

[Lorry]

1 hour ago, Pib said:

Krungthai Bank does not charge Bt500 "fee" to open an account; instead they require an initial Bt500 "deposit" which can be withdrawn later if desired.    An opening Bt500 deposit is standard for a lot of Thai banks. 

I thought so.

My friend should know the difference,  but he is getting old...

 

 

Thanks for all the answers,  very helpful

[problemfarang]

krugthai bank is the real thai government bank. so its very reasonable to use the bank. and yes you need a krungthai bank account to cash the check and again it makes a lot of sense. 

 

no bank take your money to open a bank account. as mentioned before you can deposit money. but you will pay yearly something around 500-700 baht for your ATM card. up to the ATM card you chose when you are opening your account. ATM cards are different based on their insurance on you and the amount you can use on them. 

it doesnt take 1 hour to open a bank account. My longest one was 20min and its just because of some mistake bank made. 

 

if you are going to throw away your tax return for not wasting your 10 min... its your choice. if you are working and living in thailand i think you must have at least 1 krungthai bank account for sure. 

[Tazmo]

I received my cheque(s) by post and I am with BKK Bank. No problem paying the Cheques in and waiting a few days for it to clear.

My Thai partner just started using the ATM without a card, hence saving on the annual fee!

 I am going to see if I can do the same!

[Mike Teavee]

27 minutes ago, Tazmo said:

My Thai partner just started using the ATM without a card, hence saving on the annual fee!

 I am going to see if I can do the same!

Cardless Withdrawals are great but what if you need cash & are somewhere that doesn't have one of your Bank's ATMs (My closest Bangkok Bank one is a 20 minute walk from where I live & I've never been able to find one in Terminal 21, Pattaya) or need to buy something online (assuming you don't have a Thai Credit Card). 

 

For the sake of 3-400b pa it makes sense to me to keep the card.  

 

Re: Reclaiming Tax, I gave up on mine after:-

1. Visiting the office 3 times (3rd time sent to a different office)
2. Completing a form detailing my pension by answering "Not Applicable" a dozen times as I'm too young to draw my pension 
3. Providing photocopies of every page of my 2 bank books & passport. 

The final straw came when they asked me for photocopies of every statement of my overseas accounts, it would probably cost me more in photocopying/paper than the 4,331b they owe me in withholding tax. 

 

 

Edited June 27, 2023 by Mike Teavee

[Tazmo]

edited)

   1 hour ago,  Tazmo said: 

My Thai partner just started using the ATM without a card, hence saving on the annual fee!

 I am going to see if I can do the same!

Cardless Withdrawals are great but what if you need cash & are somewhere that doesn't have one of your Bank's ATMs (My closest Bangkok Bank one is a 20 minute walk from where I live & I've never been able to find one in Terminal 21, Pattaya) or need to buy something online (assuming you don't have a Thai Credit Card). 
 

I see your point, however there’s hardly a need to withdraw cash these days.

Almost everywhere in Thailand you can scan to pay, even in the markets. I only have cash for tips!

in the UK I just tap and go, similar in North America.

But some people are just used to carrying cash. Maybe for? Police lol 

 

[CMBob]

As primitive as it may seem, one has to have a bank account here to cash a Thai Treasury check (and perhaps a check from any source, not sure); however, you can deposit the check in any bank you have an account.  And, yea, regardless of the amount you have in your account, it's deposit only and it takes a couple of days for the check to clear.

Edited June 28, 2023 by CMBob

[TigerandDog]

I receive my tax refund by cheque each year and deposit directly into my ttb account. No problems whatsoever. Just takes teh usual couple of days for the funds to clear.

[Pib]

8 hours ago, problemfarang said:

krugthai bank is the real thai government bank. so its very reasonable to use the bank. and yes you need a krungthai bank account to cash the check and again it makes a lot of sense. 

 

no bank take your money to open a bank account. as mentioned before you can deposit money. but you will pay yearly something around 500-700 baht for your ATM card. up to the ATM card you chose when you are opening your account. ATM cards are different based on their insurance on you and the amount you can use on them. 

it doesnt take 1 hour to open a bank account. My longest one was 20min and its just because of some mistake bank made. 

 

if you are going to throw away your tax return for not wasting your 10 min... its your choice. if you are working and living in thailand i think you must have at least 1 krungthai bank account for sure. 

KrungThai has 5 different debit cards, ranging from no annual fee to Bt1,599/per year....the more costly cards come with benefits a person may or may not want or need like some kind of insurance.   Always beware of banks reps trying to get you to sigin-up for one of there more costly debit cards.   The free card is really a virtual card.  Probably the most common KrungThai debit card issued is the card that costs Bt200/year....my wife has one of those.

 

https://krungthai.com/en/personal/cards/debit-card

 

 

[Eaglekott]

I think you can register with revenue department to get it payed out by Prompt pay. Last years I had to pay a little extra so no need for return.

[khunPer]

Normally you can deposit a cheque in your own bank, but the funds will not appear in your account before after a week or so, when the cheque is cleared with the other bank. Same procedure as with foreign cheques, apart from they take a month or more to clear them...????

[JimGant]

If you're a Yank, just plug the Thai tax into Form 1040, Schedule 3, Line 1 of Nonrefundable Credits. No Form 1116 required, if refund is less than $300 single ($600 filing Joint). Two minutes vs two days of wandering Thailand streets between tax offices and banks.

[Lorry]

On 6/27/2023 at 9:04 PM, Lorry said:

A friend got a tax refund of 6000 B, a check, by mail.

He had to open an account with Krungthai Bank to cash this check. 

This took one hour (including checking his visa) and Krungthai Bank charged 500 Baht for an account (without ATM card - with ATM card it would have been more expensive).

 

Is this really the only way?

(Cannot use my own bank? Cannot cash the check without opening an account?)

I got a similar check,  too, but it's even less.

I am seriously thinking of throwing it away. 

Can someone else who does have a Krungthai bank account cash my check?

Any other reasonable alternative?

 

I finally made it to my Bangkok Bank Branch. It took 8 minutes to have the check deposited into my account. 

No waiting for check clearance. 

No passport required. 

As simple as making a cash deposit. 

[topt]

5 hours ago, Lorry said:

No waiting for check clearance. 

I doubt it. It will show in your account but just try pulling that money out - it takes at least a couple of days if not the same bank.

[Lorry]

2 minutes ago, topt said:

I doubt it. It will show in your account but just try pulling that money out - it takes at least a couple of days if not the same bank.

Yes, I suppose so, too.