chiangmai
Crazy Mango Extraordinaire
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Post by chiangmai on Apr 9, 2022 10:31:43 GMT 7
A letter from UOBAM this morning asks me to complete their two yearly personal details form, but this year adds a new twist. It seems they also want a certified copy of my passport also, if this is not produced by 29 April I will not be allowed to transact on the account. The certified copy of the passport is the same thing that was required to obtain a yellow tabien bahn, it means a trip to the Embassy etc etc so I said sod it. Now I'm faced with the same dilemma again, make the trip to the embassy or cash out, at a loss (it's been six years). I'm all in favour of money laundering rules etc but this is OTT.
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Post by rgs2001uk on Apr 9, 2022 20:24:15 GMT 7
Cant you take your passport to your local UOB bank and have them stamp paperwork for you?
No need for Brit House, I have used local Thai lawyers in Bkk for this KYC bs for NS&I, HSBC, Interactive Investor and Rathbones in the UK.
HSBC actually refunded my costs, I paid about 1000 baht per stamp from a local Thai lawyer, if you are paying anymore than 2 you are being shafted, one quoted me 5000, I laughed and told him Brit House would be cheaper, and I am no fan of that place.
Thai lawyer had all the rubber stamps in his office, pulled out a "certified true copy" stamp in English, had another with his name etc and Thai lawyer number that he signed and put some sort of gold embossed stamp on top, that seemed to satisfy the jobsworths and box tickers in the UK.
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Post by rgs2001uk on Apr 9, 2022 20:28:41 GMT 7
As a sidenote I was once on the phone to some officious type in the UK with the exact same problem, I told him fine, close the account and give me your name please, coz when your company contacts me wanting to know why the acount was closed I will give your name and tell them about your unhelpful attitude, twat quickly did a 180 degree about turn.
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AyG
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Post by AyG on Apr 10, 2022 6:16:48 GMT 7
this KYC bs for NS&I, HSBC, Interactive Investor and Rathbones in the UK. Is this for account opening, or subsequently? |
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chiangmai
Crazy Mango Extraordinaire
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Post by chiangmai on Apr 10, 2022 6:56:34 GMT 7
Cant you take your passport to your local UOB bank and have them stamp paperwork for you? No need for Brit House, I have used local Thai lawyers in Bkk for this KYC bs for NS&I, HSBC, Interactive Investor and Rathbones in the UK. HSBC actually refunded my costs, I paid about 1000 baht per stamp from a local Thai lawyer, if you are paying anymore than 2 you are being shafted, one quoted me 5000, I laughed and told him Brit House would be cheaper, and I am no fan of that place. Thai lawyer had all the rubber stamps in his office, pulled out a "certified true copy" stamp in English, had another with his name etc and Thai lawyer number that he signed and put some sort of gold embossed stamp on top, that seemed to satisfy the jobsworths and box tickers in the UK. The Amphur is very clear about this when applying for a yellow tabien bahn. The certification required is to confirm that the passport is genuine and only the embassy can do that. Certifying that the passport is mine is a no brainer because it contains my picture and my signature, that's not enough, not even for the bank. Account closure it is. |
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GavinK
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Post by GavinK on Apr 10, 2022 7:28:33 GMT 7
In the past UOBAM used to ask for a copy of your passport and the completed form or risk account closure. I used to send in the form but write on it that my passport had not changed and was still valid, and not send the requested photocopy. They never replied nor stopped my account. May be worth a try - probably just a junior clerk processing these and wanting to check the box.
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chiangmai
Crazy Mango Extraordinaire
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Post by chiangmai on Apr 10, 2022 8:00:56 GMT 7
In the past UOBAM used to ask for a copy of your passport and the completed form or risk account closure. I used to send in the form but write on it that my passport had not changed and was still valid, and not send the requested photocopy. They never replied nor stopped my account. May be worth a try - probably just a junior clerk processing these and wanting to check the box. The note I received is a form letter signed by an Exec. Director, I can't recall being asked for the passport copy before. But to be honest, the CG-LTF is a lead anchor which needs to go, I feel lucky to have got my investment back. I'm unhappy that my bank now requires foreigners to produce their passport and allow counter staff to confirm the existence of a valid visa, for any over the counter transactions, even updating a passbook. I wrote to the CEO who didn't respond to my question whether his bank is now an agent for Immigration or not. I did however get a garbled phone call apology from the branch manager in Thainglish, she could neither make her self clear, shut up or let me speak, so I ended the call by hanging up! |
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Post by rgs2001uk on Apr 18, 2022 21:25:33 GMT 7
this KYC bs for NS&I, HSBC, Interactive Investor and Rathbones in the UK. Is this for account opening, or subsequently? I apologise for my late reply, other things to do and all that, actually stuck half way up a mountain with no wifi,  . Both II and Rathbones will take on overseas customers. All I was required to provide was proof of address and certified copy of UK passport. Same as my UK bank, HSBC, dont believe the rubbish you may read elsewhere about expats being denied acess to UK bank accounts, heck HSBC knows I am overseas, thats where they send my statements to. |
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rubl
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The wondering type
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Post by rubl on Apr 20, 2022 11:33:32 GMT 7
Just stumbled over a 'sponsored message' on FB "Open a live OANDA trading account in 3 easy steps. No document verification needed until your gross account deposit totals US$9,000." I guess this is not for BIG spenders like we've got here on the Big Mango.  |
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AyG
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Post by AyG on Apr 20, 2022 13:50:50 GMT 7
^^^ This relates, I believe, to US Federal Law that requires reporting if the total deposits (or withdrawals) are US$10,000 or more. I guess the $9,000 is to keep safely under the limit.
However, this would appear to allow an individual to open a dozen account with no document verification, and then deposit 12 x $9,000.
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chiangmai
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Post by chiangmai on Apr 21, 2022 5:55:47 GMT 7
^^^ This relates, I believe, to US Federal Law that requires reporting if the total deposits (or withdrawals) are US$10,000 or more. I guess the $9,000 is to keep safely under the limit. However, this would appear to allow an individual to open a dozen account with no document verification, and then deposit 12 x $9,000. The US $10k law applies only to cash transactions, it also applies to a combination of multiple small cash transaction that total more than $10k. |
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AyG
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Post by AyG on Apr 21, 2022 7:20:38 GMT 7
^^^ This relates, I believe, to US Federal Law that requires reporting if the total deposits (or withdrawals) are US$10,000 or more. I guess the $9,000 is to keep safely under the limit. However, this would appear to allow an individual to open a dozen account with no document verification, and then deposit 12 x $9,000. The US $10k law applies only to cash transactions, it also applies to a combination of multiple small cash transaction that total more than $10k. And putting money into a trading account isn't a cash transaction? |
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chiangmai
Crazy Mango Extraordinaire
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Post by chiangmai on Apr 21, 2022 7:42:06 GMT 7
The US $10k law applies only to cash transactions, it also applies to a combination of multiple small cash transaction that total more than $10k. And putting money into a trading account isn't a cash transaction? Most probably it will, I'm not certain, I was merely adding clarity to the point you made. You cited Federal Law and the 10k rule extends way beyond just trading accounts. |
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