Bank Account Frozen.

[mogandave]

And that seems prudent if the guy appeared to be defaulting.
I watched a UK program only last night where an elderly woman had 2 burly bailiffs at her home because her son had defaulted on a loan she had signed guarantor for. She hardly realised what she had done. And lo-and-behold next is an advert for guarantor loans with an APR of about 50%!
Sneaky stuff.

Loans with an APR of 50% is legal in the UK?

[ArranP]

On 4/9/2018 at 10:45 AM, Berkshire said:

I've never had my Thai bank account frozen.  So OP, do you owe people money?  Late on the payments?

In Thailand the deposit ( two months rent ) is held by the landlord, during the course of a tenancy.

 

The landlord has taken, one months rent for, notice to quit.  Fair enough.  I calculated the cost to  touch up paint, clean repair the seat cover the cat had clawed, is less than the one months deposit left.

 

The landlord does not seem to think so, ok, so I have asked for an itemised list of cost & item, before releasing funds.

 

No list has yet materialised, in part I think this is due to Thai law, defamation of character is a criminal offence, so the introduction of a cost & item list that is untrue, could result in the landlord being imprisoned.

 

The the landlord, can just go an open my bank account and take the money from there ? 

[jerry921]

35 minutes ago, ArranP said:

In Thailand the deposit ( two months rent ) is held by the landlord, during the course of a tenancy.

 

The landlord has taken, one months rent for, notice to quit.  Fair enough.  I calculated the cost to  touch up paint, clean repair the seat cover the cat had clawed, is less than the one months deposit left.

 

The landlord does not seem to think so, ok, so I have asked for an itemised list of cost & item, before releasing funds.

 

No list has yet materialised, in part I think this is due to Thai law, defamation of character is a criminal offence, so the introduction of a cost & item list that is untrue, could result in the landlord being imprisoned.

 

The the landlord, can just go an open my bank account and take the money from there ? 

I understand that you are quitting the lease one month early, and the landlord is trying to keep your whole two-month security deposit. You are figuring that one month for quitting early is fair, and other things are less than the other month, so you should get a little bit back.

 

Sadly, according to my reading, many Thai landlords always keep the security deposit. In this case the amount you think you deserve back is less than one month's rent, so my feeling is you're getting less ripped off than usual.  Doesn't mean it's fair or right, but at least it's not as bad as losing the whole two months without a good reason. I think at your convenience you should drop the keys off, smile, and walk away.

 

I don't understand your last sentence, why you ask if the landlord can take money from your bank account, doesn't he already have the two month's security deposit in his account?

[blackcab]

TMB have frozen my account before, for inactivity.

 

No funds in or out for 1 year and it's auto-locked. You have to visit the bank in person with your passport, sign forms and make 1 transaction (deposit or withdraw 100 baht or whatever) then the account is reactivated.

[ArranP]

23 minutes ago, jerry921 said:

I understand that you are quitting the lease one month early, and the landlord is trying to keep your whole two-month security deposit. You are figuring that one month for quitting early is fair, and other things are less than the other month, so you should get a little bit back.

 

Sadly, according to my reading, many Thai landlords always keep the security deposit. In this case the amount you think you deserve back is less than one month's rent, so my feeling is you're getting less ripped off than usual.  Doesn't mean it's fair or right, but at least it's not as bad as losing the whole two months without a good reason. I think at your convenience you should drop the keys off, smile, and walk away.

 

I don't understand your last sentence, why you ask if the landlord can take money from your bank account, doesn't he already have the two month's security deposit in his account?

You need to read my first post,  the landlord and I are in dispute, the landlord is claiming more monies, and as such is looking to freeze my bank account, to take these additional monies.

 

This is the second time for me.

[jacko45k]

5 hours ago, mogandave said:

 

Loans with an APR of 50% is legal in the UK?

 

Yes  and more!

There has been an explosion of high rate, short term loans  being offered. Sub-prime I think they get called in the USA.

[jacko45k]

1 hour ago, ArranP said:

The the landlord, can just go an open my bank account and take the money from there ?

No, he would need to take you to court.

[ArranP]

1 minute ago, jacko45k said:

No, he would need to take you to court.

Can you point me to the legislation that prevents them, because this is the second time this is happened.  Never happened to my UK bank account, only my Thai.

[jacko45k]

3 minutes ago, ArranP said:

Can you point me to the legislation that prevents them, because this is the second time this is happened.  Never happened to my UK bank account, only my Thai.

Well unless you have some form of direct debit facility already established for the landlord I am unclear how he could even begin to access the funds in your bank account.

[sometimewoodworker]

On 09/04/2018 at 6:26 PM, observer90210 said:

I volunteer to be the stupid-question poster of the day,  but does the account also get froozen if you plainly do not operate it say for a year ?

None of my accounts have ever been frozen some have seen no transactions for several years, they all have balances over 5,000 Baht.

 

but if the balance is too low the bank will start charging you for the account so in time you will get to a zero balance.

[ArranP]

6 hours ago, jacko45k said:

Well unless you have some form of direct debit facility already established for the landlord I am unclear how he could even begin to access the funds in your bank account.

 

A payment is made from Account A to Account B, in Account A there is a debit transaction, in account B there is a credit transaction.

 

The credit transaction shows from who or from which account that payment has come from.  This is normal for all accounts, not just those in Thailand.  It is easy for the a landlord or anyone, to get the account number,.

[jerry921]

6 hours ago, ArranP said:

 

A payment is made from Account A to Account B, in Account A there is a debit transaction, in account B there is a credit transaction.

 

The credit transaction shows from who or from which account that payment has come from.  This is normal for all accounts, not just those in Thailand.  It is easy for the a landlord or anyone, to get the account number,.

Probably you are better off not using banks.

[jacko45k]

11 hours ago, ArranP said:

 

A payment is made from Account A to Account B, in Account A there is a debit transaction, in account B there is a credit transaction.

 

The credit transaction shows from who or from which account that payment has come from.  This is normal for all accounts, not just those in Thailand.  It is easy for the a landlord or anyone, to get the account number,.

So you have explained to me how the landlord gets your account number, but not how he can initiate a debit from your account himself. The only way would be if YOU have set up a direct debit facility for the landlord, effectively allowing him to do exactly that. A standing order (a more sensible payment method), would not allow the landlord to access your account. Personally I put reminders into my email calendar for regular bills, and initiate the transfers myself.

 

Banks do not permit people to make withdrawals from other people's accounts based only on having the account number. I have the account numbers for many utilities, friends and acquaintances, it certainly does not mean I can initiate a transfer from them back to myself!

 

Edited April 11, 2018 by jacko45k

[ArranP]

4 hours ago, jacko45k said:

So you have explained to me how the landlord gets your account number, but not how he can initiate a debit from your account himself. The only way would be if YOU have set up a direct debit facility for the landlord, effectively allowing him to do exactly that. A standing order (a more sensible payment method), would not allow the landlord to access your account. Personally I put reminders into my email calendar for regular bills, and initiate the transfers myself.

 

Banks do not permit people to make withdrawals from other people's accounts based only on having the account number. I have the account numbers for many utilities, friends and acquaintances, it certainly does not mean I can initiate a transfer from them back to myself!

 

It is the bank. The bank gives them the money from my account. It does happen, it has happened to me twice.  The account is frozen and funds are withdrawn.

 

I am asking, how do they do this ? How can someone, in Thailand, get a Thai bank, to freeze someone elses bank account, to debit monies from it ?  

 

At what point in this process, am I given the opportunity do intervene ? to challenge the claim, that I owe money to someone.

Edited April 11, 2018 by ArranP

[jacko45k]

1 hour ago, ArranP said:

It is the bank. The bank gives them the money from my account. It does happen, it has happened to me twice.  The account is frozen and funds are withdrawn.

 

I am asking, how do they do this ? How can someone, in Thailand, get a Thai bank, to freeze someone elses bank account, to debit monies from it ?  

 

At what point in this process, am I given the opportunity do intervene ? to challenge the claim, that I owe money to someone.

With a court order perhaps? Or have you signed a direct debit mandate?

Other than that it should not be possible unless you have been declared bankrupt!

Or is your landlord the bank manager????

 

I would remove my funds and get another account with a different bank!

 

Edited April 11, 2018 by jacko45k

[blackcab]

8 hours ago, ArranP said:

It is the bank. The bank gives them the money from my account. It does happen, it has happened to me twice.  The account is frozen and funds are withdrawn.

 

1. Change bank.

 

2. Just keep a minimum in the account. People can't take what you don't have.

[ArranP]

10 minutes ago, blackcab said:

 

1. Change bank.

 

2. Just keep a minimum in the account. People can't take what you don't have.

Yes, I have resorted to this.  But, it is inconvenient, hence my question to learn how it is done so it can be stopped.

[jerry921]

try asking the bank

[Crossy]

On 4/10/2018 at 7:41 AM, mogandave said:

Loans with an APR of 50% is legal in the UK?

Most guarantor loans are between 40 and 50% APR https://www.money.co.uk/loans/guarantor-loans.htm possibly limited by legislation.

 

Payday loans can have massive APRs, QuickQuid is 1294.9% APR https://www.quickquid.co.uk/payday-loans-uk.html

 

 

[blackcab]

5 hours ago, Crossy said:

Payday loans can have massive APRs, QuickQuid is 1294.9% APR https://www.quickquid.co.uk/payday-loans-uk.html

 

I just read a very good article that partly explains why the APR is so high (other than rampant capitalism).

 

In reality the author's business costs of 5 per cent were unrealistically low, so the APR required to break even would be several hundred per cent.

 

https://www.forbes.com/sites/timworstall/2011/12/20/why-payday-loans-are-so-expensive/

[mogandave]

At what point in this process, am I given the opportunity do intervene ? to challenge the claim, that I owe money to someone.

Before you borrow the money.

[ArranP]

On 4/12/2018 at 1:46 PM, mogandave said:

 

Before you borrow the money.

 

 

Which came first the chicken or the egg ?

[jerry921]

1 hour ago, ArranP said:

 

Which came first the chicken or the egg ?

Someone's Coocoo.

[ArranP]

59 minutes ago, jerry921 said:

Someone's Coocoo.

 

I was putting effort in to put some constructive reply.... but you will probably just retort with something to try and wind me up, so will return to my work instead... useless forum.

[osandpo]

On 09/04/2018 at 6:26 PM, observer90210 said:

I volunteer to be the stupid-question poster of the day,  but does the account also get froozen if you plainly do not operate it say for a year ?

Accounts with no activity become either dormant or inactive depending on the bank and on how long since it was last used. The account isn’t frozen - you will need to go to your bank and identify yourself and ask them to reactivate the account. There may be annual fees for maintaining a dormant/inactive account. 

If you’ve not had any account activity for, I think, 10 years, the bank will normally treat the remaining balance as “unclaimed”. They then normally make a last attempt to contact you but if unsuccessful they can decide to take the money as their profit.