Kasikorn Business Account

[MangoKorat]

I don't want to ask Kasikorn directly about this as I don't want to risk my account being closed.  I tried to open a separate account with Kasikorn a while back and even though I already have one account, they refused to open another without a long term visa. I'm divorced so at the moment I no longer hold a long term visa.

 

Anyway, Kasikorn recently made a few changes to their accounts and I notice that my account is now called a Business Account - previously I'm pretty sure it was a 'Savings Account'.

 

Has this happened to anyone else?

[CharlieH]

MOVED to correct Banking forum.

[OneMoreFarang]

5 hours ago, MangoKorat said:

Has this happened to anyone else?

Yes, me.

[Georgealbert]

I have a personal savings account, but under the headings on the app it only lists business accounts. This seems to be just the terminology being used by K Bank.

 

Mine is a personal account and is still listed as such on the banks web site.

 

 

[thrilled]

If you’re a U.S. citizen you need to make sure you don’t have over $10,000 in the bank. You’re talking a business account. The U,S. To stop off shore banking has a FATCA law. And Thailand abides by it. The IRS will fine you heavy going over that amount. If you notify the IRS then I believe your fine. 

[n00dle]

5 minutes ago, thrilled said:

If you’re a U.S. citizen you need to make sure you don’t have over $10,000 in the bank. You’re talking a business account. The U,S. To stop off shore banking has a FATCA law. And Thailand abides by it. The IRS will fine you heavy going over that amount. If you notify the IRS then I believe your fine. 

Think you need to check your facts. You are waaaay off. Like no idea. Period.

https://www.investopedia.com/terms/f/foreign-account-tax-compliance-act-fatca.asp#:~:text=The IRS requires Form 8938 for taxpayers living in the,time during the tax year. 
 

[MangoKorat]

19 minutes ago, thrilled said:

If you’re a U.S. citizen you need to make sure you don’t have over $10,000 in the bank. You’re talking a business account. The U,S. To stop off shore banking has a FATCA law. And Thailand abides by it. The IRS will fine you heavy going over that amount. If you notify the IRS then I believe your fine. 

I'm not a US citizen.

[JensenZ]

My KBank accounts are listed as "Business Accounts" in online banking. There is no mention of what type of accounts they are in the KBank phone app.

 

They are savings accounts. This is stated on the info page of your passbook at the bottom left: branch and savings account. This could be written in Thai if it was opened a long time ago. In my first passbook from 14 years ago, it is written in Thai. In my more recent passbook of an account opened a few years ago, it is written in English.

[JensenZ]

I just noticed that when you log into KBank banking in browser, if you click on "business accounts", it lists the accounts as Savings Accounts.