I received a strange SMS from KTB bank. What does it mean?

[ubonr1971]

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[Ralf001]

Is that your main/only bank acount ?

[ubonr1971]

1 minute ago, Ralf001 said:

Is that your main/only bank acount ?

no. I have numerous bank accounts. why

[Ralf001]

your available balance is dire !

[Upnotover]

All the banks are doing this in one way of another. Drop by and sign a form or two, no big deal.

[HampiK]

The KTB send out to all customers (or maybe all foreign customers) this message.
if nothing has changed since last time, then probably nothing to do. 

it's like from time to time the bank is obligated to check if all information is still correct.
If you have the option of a KTB branch nearby, only go short and ask if they need something from you.

In my case, they already have a Thai TIN, and I'm not an US american (facta), so no more info they wanted from me.

[ukrules]

They simply want to know if you have any foreign tax residencies.

 

If you're from the US then the answer is yes, you do - even if you haven't been there for a very long time.

 

If you're from almost anywhere else and have resided in Thailand full time for years then you won't have any other residencies as they tend to be based on actually staying in the country for a certain number of years.

 

If on the other hand you don't actually live in Thailand full time then they're going to want your foreign tax id numbers so they can report your balances every year like CRS mandates.
 

[newbee2022]

On 3/1/2025 at 2:23 PM, ubonr1971 said:

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It's not strange. New rules. Go to your bank

[KhunBENQ]

Another topic about KTB message been opened a few days ago.

 

 

 

[CM Dad]

I got the same message.  I have not had any money in that bank for more than three years.  I used to have an account with them but let the balance go to only a few hundred baht years ago.  I no longer have an account book or an ATM card with them and I do not plan to visit them regardless of whether they tell me it is "URGENT" or not.

[ChaiyaTH]

4 minutes ago, CM Dad said:

I got the same message.  I have not had any money in that bank for more than three years.  I used to have an account with them but let the balance go to only a few hundred baht years ago.  I no longer have an account book or an ATM card with them and I do not plan to visit them regardless of whether they tell me it is "URGENT" or not.

Is not urgent, just to keep your account fully functional is the urgent part. You would need to sign a paper + ID at the branch otherwise. I ignored requests from Kasikorn for this as well and all still works fine.

[daveAustin]

‘Oh don’t worry, it’s just…. ‘

What it is is big brother poking its nose into the affairs of regular people. The majority of foreigners here are law-abiding and would have paid taxes to the hilt. They just make it more and more awkward for the regular guy to live in peace while letting bigwig Thais and corporations get away with it all. Reckon it’s going to get stickier and stickier to stay here full time. Please bring back pre-2000 Siam!

[leonard beaven]

On 3/1/2025 at 2:23 PM, ubonr1971 said:

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This is all about registing as a tax resident go to your bank give couple signatures copy of passport and update passbook and go get a beer.you just registered as a tax resident.you would then need to ensure that you do a tax self assessment before end of march.Yes I had same,once you sign your in,failure to sign could I my view negate your bank account.

[thecyclist]

When did you get that email.l?

I have had an account with them for 15 years, and never ever got an email from KTB. 

[Blueman1]

15 minutes ago, thecyclist said:

When did you get that email.l?

I have had an account with them for 15 years, and never ever got an email from KTB. 

Neither have I, My KTB account is still " Active " as I Get my U.K. State Pension transferred into it from @Wise " Every 4 Weeks...

[jingjai9]

I got this message too and went to the KTB. I am American and Thailand has an agreement with The United States to manage This Department of Treasury form W-9 (Request for Taxpayer Identification Number and Certification). It is for  FACTA or the Foreign Account Tax Compliant Act). It is to update information about your Thai bank account.

If you are a citizen of the US and hold a foreign bank account, you need to file this form (Social Security number is required) to identify your filing status and determine whether or not your income in the foreign bank account is taxable. The form asks if you are an individual, have a business or partnership, etc.

They ask about backup withholding "which requires a payer to withhold tax from payments not otherwise subject to withholding. You may be subject to backup withholding if you fail to provide a correct taxpayer identification number (TIN) when required or if you fail to report interest, dividend, or patronage dividend income."

 

Hope this helps. When you fill this out, ask the bank for a copy.

 

 

[jojothai]

Many people still do not seem to be aware of the CRS.
The Thai government has enacted the Royal Decree on the Common Reporting Standard, B.E. 2566 (2023) ("CRS Decree"), which came into effect on March 31, 2023 which enables Thailand to fulfill its international obligations.
Thailand has joined with all the other global countries in the system to prevent tax avoidance.
(The US is the most noteworthy missing, because they already have a global requirement system in place).
Its a global system where its not just that Thai banks want the information.  

 

Under the CRS regulations the banks MUST get the details of Tax residence and tax ID of people with accounts here. For most Thais it is not necessary because they are considered as tax resident here.
But for foreigners the banks will need to request the information.
Just that they did nothing about it for nearly two years.
Presumably the TRD is now kicking up a stink with them to implement what is required.
TRD may benefit with potential of more taxable income information from the other countries.
But only if you are resident here.

When the rules started for many banks a long time ago in the west, it has since been implemented on all financial accounts in many countries including UK offshore locations, Hong Kong,  Singapore , etc.
The banks first requested information, then from my experience after about a year they started to threaten to freeze the accounts if you did not comply. 
Be warned, the issue may not simply go away.