Hi everyone,

I received a message from Krungthai Bank asking me to update my CRS/FATCA information. I am not a U.S. citizen and I currently hold a DTV visa in Thailand.

Recently I deposited 20,000 THB into my account (cash from my home country bank withdrawal). Could that be the reason ??

Has anyone experienced something similar?

What will bank do ? Will they close my account ? And charge me tax ?

I used to have students now switched to DTV

Thank you 🙏

I'm on a DTV visa, I have a KTB bank account and yesterday I got this message from the bank. ANYONE ELSE?

What bank can you open with a DTV visa?

We're now seeing a lot of people with DTV cannot open bank accounts. But many people don't know what's happening with thai banks.

Thailand banking has already joined CRS in 2023. CRS means common reporting system. That means banks here will need to report individuals to other countries banks and tax authorities. It's a thing which HNWIs don't like because of their privacy concerns.

A Thai elite visa is also a kind of glorified tourist visa. DTV visa is also a tourist visa (banks here always say that). However, our DTV holders cannot open. But from the banks side, they have to do a lot of paperwork. That's why they don't like us, dtv holders.

Although they already joined the CRS, they didn't clean up the mess first which is agents. Yes tourists can still open any bank accounts with the help of agents. So, think about yourself, money laundering cases etc. i won't explain further here.