Off Shore Savings Account

[likite]

I am trying to open an account in the Channel Islands. However the money laundering regulations with regard to proving my address is causing a problem. I need to provide 2 docs proving my address.

I can get a letter from the bank but as I rent a house in Thailand the utility bills are in Thai and either do not have a name or are in the name of the owner.

Anybody got around this?

[Firefan]

Yes, that is a problem. And they will normally not accept the lease contract (normally being in your name).

Maybe try to get a address certificate from your embassy (about 1500 Baht).

Personally I changed all utility bills to my name which solved most of the problem (except;some write your "Thai" name in Thai writing or most still write the ADDRESS in Thai writing..... wonder about Thai language level in the Caymans...).

Cheers!

[kudroz]

A Statutory Declaration from your consulate shoul do. Call the bank and explain to them your situation and ask them if a statutory declaration along with your rental agreement will be enough.

[rak sa_ngop]

Yes, that is a problem. And they will normally not accept the lease contract (normally being in your name).

Maybe try to get a address certificate from your embassy (about 1500 Baht).

Personally I changed all utility bills to my name which solved most of the problem (except;some write your "Thai" name in Thai writing or most still write the ADDRESS in Thai writing..... wonder about Thai language level in the Caymans...).

Cheers!

The Bank of Scotland International (Jersey/Isle of Man) won't accept a Thai language utility bill but did accept a stamped (but not notarised) local translation of my bill (500 baht). I think it depends on the institution as another finance company did accept a Thai utility bill of mine, maybe they had a Thai speaker on their payroll?

Once you have one major UK bank writing to you at your Thai address you can probably use that correspondence as proof of identity for other UK institutions.

[Thumchok]

I am not sure which company you are going through . But I used a residential adress back home in Aus . My moms , she gets my australian mail there . So asked her to scan and send a copy of my Bank statement , and credit card statement . My mailing adress though I used my Thai adress , so the offshore statements get sent to me .

Cheers ,

Jim .

[briley]

I just sent my Thai telephone bill that the Irish Bank accepted

Only a year later did I discover it wasn't in my name!

[Firefan]

He,he - good one Briley! Cheers!

[naka]

I had the same problem, and solved it thus.

I had a passbook account at UOB Phuket (Bank of Asia before). I closed this

account and placed the funds in a UOB Statement Savings Account.

This account does not have a passbook, instead they send a monthly

statement to my Thai address as if it were a current account.

I still have ATM + Visa card with this account.

That worked.

Also, how about your phone bill, no fixed line phone ?

Naka.

Edited October 8, 2006 by naka

[likite]

I just sent my Thai telephone bill that the Irish Bank accepted

Only a year later did I discover it wasn't in my name!

Excellent - makes you want to open an account with em

Also, how about your phone bill, no fixed line phone ?

The bill is in the name of the landlord, and of course is in Thai.

[OldAsiaHand]

I just sent my Thai telephone bill that the Irish Bank accepted

Only a year later did I discover it wasn't in my name!

This has got to be a set up for an Irish joke......

[kudroz]

Yes, that is a problem. And they will normally not accept the lease contract (normally being in your name).

Maybe try to get a address certificate from your embassy (about 1500 Baht).

Personally I changed all utility bills to my name which solved most of the problem (except;some write your "Thai" name in Thai writing or most still write the ADDRESS in Thai writing..... wonder about Thai language level in the Caymans...).

Cheers!

How did you change your utility bills to your name - assuming you are a tenant not the owner - ?

[cmsally]

Open an acct at an onshore bank and do all the proof that way. If I remember rightly they only wanted to see home address in that country (which was done with driving license or passport as well as utility bill or statement from another institution (ie statement from existing bank acct.). Then open an offshore acct. at an offshore branch of same bank, they only want to see applic. form and certified copy of passport.

Whenever I'm in my home country if there's a bank I think I might use in the future, I go in an open an acct. Even if you only leave a small amount of money in it, its there if you need it. Saves you hassle if you are out of the country or get someone who prefers to make payments to a certain bank etc.

[Firefan]

Kudroz; owner

Cmsally; some REQUIRE the utility bill

Cheers!

[Jersey_UK]

I am trying to open an account in the Channel Islands. However the money laundering regulations with regard to proving my address is causing a problem. I need to provide 2 docs proving my address.

At LAST something I am an authority on

You have the theory and the practice. I won't bother you with the theory.......as they all work to the same "High Standards".

In practice each Bank makes their own rules up, it may to seem to you plebs unskilled in the mysteries of offshore finance that they "make it all up as they go along". The answer is actually far more techincal. For anything that does not involve a BT phone bill and an Electricity bill from the UK the answer will vary according to:-

1) what bank you are dealing with;

2) each member of staff;

3) the Bank staff's time of the month;

4) whether the Bank staff has been in your country on holiday (and if so, whether it was "good" holiday);

The above is the reason why you will not get one consistent answer on a thread like this because, experiances do vary - it's cos' the Bank likes to treat you like an individual, no matter how frustrating this may be.

Before starting to obtain bits of paper I suggest you TALK to them and find out the name of one person who can say "yes or no" on whether something is acceptable or not . If you are not getting any joy with dealing with a moron in Jersey (or India) try and get to speak to someone in their "Compliance Department" and explain your problem. The important thing to remember is that the Utility bill should be for something that is connected to your house and IF it is addressed to a PO box number that it also includes the address of the property the services are connected. If it is in "foriegn" it needs to be translated, unless the address is written in English AND it seems obvious what the bill is for, the translation needs to be certified by someone "reputable" (ie not Goy from DC10)

Having said that, the bank does NOT have to prove where you live, only establish your identity for which your "residence is an important part", although most of them do not know the difference. If you can get someone from the UK (a lawyer / Accountant or Bank) to say that you are known to them for XXX number of years, that your former / current UK address was xxx and that your address in Thailand is xxxx then 1 or 2 of these could well be sufficient.

Now, despite me having spent a Lot of time in Thailand I have never rented property so I have no idea what Utility bills folk get, let alone what they look like. But it will be someone less skilled than me in this area who will be saying "yes or no", these people will also be equally expert on utility bills in Uzbekistan and Haiti, at least as much as you are.

Failing all that get a copy of your last Beer bar bill translated into an English Certified True translation and confirmation of your address in Thailand, signed by the Pope. Lots of stamps will help (cos' you are in a Foreign country the bank will expect that!).

If you are talking "normal" money and where you only basically want a bank account, try HSBC Offshore- I would suggest the operation in Singapore.

A Few more quid tucked away offshore/ also investments stuff, then Standard Bank would be a fair bet.

Got a fair chunk of caah and "Other" investments stuff then try Dexia Private bank.

Got shit loads under the mattress?, you need Switzerland or Luxembourg.

Can't guarantee any of them won't mess you around, but they all have the same things in common - I know "a bit" about how they operate (I get around a LOT, so not the only places I have seen "up close and personal"), they are not mickey mouse operations who are going to run off with your dosh, not immediate danger of going broke (!) and not being owned by a UK thinking banks they have been known to appreciate that not all utilities look like a BT phone bill. (not strictly speaking true about HSBC, but in practice it is true enough).

Edited October 8, 2006 by Jersey_UK

[smilingjim]

I am trying to open an account in the Channel Islands. However the money laundering regulations with regard to proving my address is causing a problem. I need to provide 2 docs proving my address.

I can get a letter from the bank but as I rent a house in Thailand the utility bills are in Thai and either do not have a name or are in the name of the owner.

Anybody got around this?

Does it have to be the Channel Islands?

You haven't said which bank.Each bank has its own rules but basically these are normally acceptable in your circumstances:

1)A letter from your employer confirming your address in Thailand (if you are employed) and throw in a copy of your contract of employment.

2) Credit card, or bank account statements.

3) A certified English translation of your lease or utility bills.

Cheers

Jim