Krungthai Bank now doing FATCA/CRS ?

[anrcaccount]

55 minutes ago, markwhite said:

 

Went to the local KrungThai bank on this basis. Southern Thailand here with not many foreigners locally so was unsure if they'd know about this, but got a competent cashier who knew I was referring to the CRS form. Took passport and bank book and nothing else (retired). The form was on the computer and after a few minutes fiddling about, it was printed, filled in name and address, ticked the "TIN exempt" box and signed it.

 

Dead easy. As anrcaccount said 🙂

Great report. Glad to be of service!

No one should be worried about these forms, nor should they disclose any more information than they're comfortable with.

In this case - you've given the bank nothing more than they had already. 

[RayC]

KrungThai phoned me back and told me to complete the formalities by 11 APRIL.

 

Other than that it's exactly what Mark and Anrcaccount stated i.e.  present myself with my passport and bank book at a branch.

[persimmon]

I`ve been in the UK for 18 months now , won`t be back in Thailand until Nov. KTB don`t have any way of contacting me . Do I need to worry my account could be closed  ?

Sent some money from the UK a few months ago and checked via ATM

and it seemed ok .

[Zaphod Priest]

Yesterday I received a letter by EMS from Krungthai concerning CRS/FATCA telling me to go into a branch.

I tried to close my Krungthai accounts many years ago.  Was told that it wasn't possible, and I should reduce the balance to zero (which I did) and wait for them to be automatically closed.  I guess they haven't been closed yet.

[Presnock]

20 hours ago, Mutt Daeng said:

Same for me.

when I heard that Bangkkok Bank was doing the same, but that I wasn't contacted so I checked witht the bank.  They informed  me that they were doing this at this time for new accounts but that they would check my account to see if the information was there - in response to that, the next day they called and said that when I changed from a joint acct to a sole account as required by immigration, that I signed those documents at that time so all is good right now.

[JimHuaHin]

Received SMS early yesterday morning.

 

Went to local KrungThai branch at 1055 - very long line, of mostly Thais, waiting.

 

Back to bank at midday - slightly shorter line, but with about a dozen farangs waiting.

 

Will try again next week.

 

 

[Presnock]

21 hours ago, Nick Carter icp said:

 

   Wouldn't you need a bank account to show the 800 000 Baht in the bank (for a retirement visa?)

not all retirees use the money in the bank 800/400k, but I used the monthly income but still needed info letters from the Bank so MUST have an open account in my  opinion

[RayC]

11 hours ago, persimmon said:

I`ve been in the UK for 18 months now , won`t be back in Thailand until Nov. KTB don`t have any way of contacting me . Do I need to worry my account could be closed  ?

Sent some money from the UK a few months ago and checked via ATM

and it seemed ok .

 

The short answer is that, "Yes, it is a possibility that your account could be closed" (see attached link and page down to the relevant section).

 

Whether this is likely is impossible to say, not least because you don't know whether you have been sent a notification.

 

In your position, I would contact KTB and explain the situation to them. You can contact KTB through their NEXT app. I have done so in the past and they replied very quickly.

 

 https://www.expattaxthailand.com/thai-banks-crs-fatca-compliance/

[Peciacake]

Went to our local branch to complete CRS requirements and found this little gem when about to sign off, "...and provide consent for KTB and/or Relevant Company to debit fund in my account,"  The Thai language version of this clause has no mention of consent according to SWMBO.

[Somrak]

On 2/28/2025 at 11:23 AM, Mutt Daeng said:

I will certainly be complying since that is where my 800,000 baht for my extension is.

I think This IS only for US sitizens

 

 

[Somrak]

1 minute ago, Mutt Daeng said:

Why?

Think CRS IS only for the US. Writing in the TOP. ?

[garygooner]

19 minutes ago, Somrak said:

Think CRS IS only for the US. Writing in the TOP. ?

FATCA is for US citizens.

CRS is for non US citizens. 

It's possible that you're a tax resident of Thailand and have no TIN, and you're not a tax resident of your home country anymore. The KBank form wanted you to  give a reason why you don't have a Thai TIN, such as no income & savings prior to 2024.