New ATM at SCB to withdraw up to 200.000 baht

[Mai Mee Tang]

I've just found this new ATM (well VTM-B, no idea what it stands for) at SCB and thought it might be useful to share, not that I'm going to use it and I don't know if the limit is the same for foreign cards.

 

Anyone has experience with it?

[Thongkorn]

Maybe a new idea for Ex pats to buy rice.

[CharlieH]

MOVED to Banking forum.

[Briggsy]

OMG, the widowmaker.

[Pib]

Just because the machine says it can spit out up to Bt200K per transaction does not mean you could pull Bt200K if the card they are using (Thai bank card or foreign card) has a lower per transaction/day limit. 

 

Like Thai bank debit cards default max per transaction/day is usually Bt50K but you can have that raised to a much higher amount.  And as an example for a foreign card U.S. debit cards default limit is usually $1000 (approx Bt32K) or lower per transaction/day.

 

Yeap, both the limit at the ATM "and" the limit of your card jointly determine how much you can get....you can't exceed either.  Exceeding either will result in a transaction rejection....no money spitting out of the fancy, space age bank machine.

 

[Mel52]

I’ve seen it before you’ll only see that one at the local SCB branches it’s nothing new although I never knew that it had almost an unlimited withdrawal limit.

 

 

 

 

[Mel52]

I use it all the time it’s just another cash machine but it does look futuristic

 

 

 

 

 

[Mel52]

It does have a touchscreen which is pretty cool it works kind of like an iPhone

 

 

 

 

 

[david555]

Such a machine should be placed in a closed compartment to take & check such amount in full security ….

[Mel52]

Such a machine should be placed in a closed compartment to take & check such amount in full security ….

At my local SCB branch the machine is right outside the bank in the basement of the mall and there is actually a security guard standing by the door right across from this same type of ATM. But I don’t see what the big deal is it’s just another ATM as far as I know anyway.

[Pib]

14 minutes ago, Mel52 said:

At my local SCB branch the machine is right outside the bank in the basement of the mall and there is actually a security guard standing by the door right across from this same type of ATM. But I don’t see what the big deal is it’s just another ATM as far as I know anyway.

Oh no...it's a lot more than just an ATM.  It supposedly can handle 85% of the type transactions normally handled at the bank counter by a teller....that why the machine is called a Virtual Teller Machine (VTM).  You can deposit funds, deposit cheques, do transfers and bill payments, apply for loans, issue debit cards, open an account, get coins, etc....etc.  

 

 

[blackcab]

88 per cent of all savings accounts have less than 50,000 baht in them.

99 per cent of all savings accounts have less than 1 million baht in them.

 

Not many people will be using these machines to their full potential.

 

 

[Pib]

It's just the inevitable march of automation/robots replacing human workers.   

 

Just like robots have replaced many workers in factories, robots in the form of VTMs, ATMs, CDMs are replacing bank workers.

 

What I would like to see is maybe a youtube video of a farang being denied a bank account when applying at a VTM.

[KhunBENQ]

1 hour ago, blackcab said:

Not many people will be using these machines to their full potential. 

At the good old times of AEON ATMs spitting up to 100k I used them a couple of times to transfer signifcant amounts. With my German VISA card (no foreign fee) 98k was the max I got, no idea why it didn't give 100k which would have been possible with the then exchange rates (2500 Euro > 100k).

 

Currently with the terrible rates I have no rush to try these new VTMs.

That's why I asked hypothetically.

 

In Pattaya I saw two, one at Central beach rd. and one at BigC Extra.

Likely there are more.

 

EDIT: deleted picture

Just noticed that this is NOT my thread about this topic that I started a couple of days ago

Edited July 5, 2019 by KhunBENQ

[KhunBENQ]

48 minutes ago, blackcab said:

Not many people will be using these machines to their full potential.

Quite certain these machines will not appear where the average folks have 50k on the account.

Probably limited to the upper level locations.

[Mel52]

Oh no...it's a lot more than just an ATM.  It supposedly can handle 85% of the type transactions normally handled at the bank counter by a teller....that why the machine is called a Virtual Teller Machine (VTM).  You can deposit funds, deposit cheques, do transfers and bill payments, apply for loans, issue debit cards, open an account, get coins, etc....etc.  
 
 

I knew it could do a lot of stuff like that such as deposits and other things that normally the tellers do but I had no idea it was that advanced. I’ve never used it for anything else except ATM withdrawals.

[TallGuyJohninBKK]

The other unanswered question here is does the machine's stated 200K per withdrawal limit apply to:

--only SCB cards

--only any Thai bank cards, or

--all cards, foreign or Thai?

 

(in all cases above, assuming the card account itself would allow for 200,000b of a withdrawal in one day).

 

I've asked the SCB staff at a SCB branch near my home that has such a machine, and none of the staff there had any clue (not surprisingly...).

 

[KhunBENQ]

3 minutes ago, TallGuyJohninBKK said:

The other unanswered question here is does the machine's stated 200K per withdrawal limit apply to:

--only SCB cards

--only any Thai bank cards, or

--all cards, foreign or Thai?

That was the question that I put in a thread some days ago.

Yes unanswered so far.

 

[watcharacters]

2 hours ago, Mel52 said:

It does have a touchscreen which is pretty cool it works kind of like an iPhone

 

 

 

 

 

 

 

I'm reminded of an old Zerox machine which is now a dinosaur.  Pity they didn't keep up.

 

 

[elektrified]

13 hours ago, blackcab said:

88 per cent of all savings accounts have less than 50,000 baht in them.

99 per cent of all savings accounts have less than 1 million baht in them.

 

Not many people will be using these machines to their full potential.

 

 

I call BS on this article.

[longball53098]

A machine like this will never be installed in a typical ATM environment. Most likely in a inside branch area where it can be secured better. Possibly meant to do away with tellers/cashiers. US has used the open branch concept a long time.

[aussieinphuket]

highly unlike will dispense 200,000 on a credit card as would be big attraction for fraud i think it must be set up with a cash account or saving account and you must have funds available to cover the withdrawal.... its a bit like Singapore having the SG$ 10,000 note but you must give copy of passport and all relevant details as how easy would it be to start smuggling currency around ....... they keep a track on every note and serial number...

 

Edited July 6, 2019 by aussieinphuket

[Jack Mountain]

Wow that's a pile of 20+ cm. Amazing.

[Jaxxper]

That will make going out on a bender a lot more convenient ????

[newatthis]

Well, with the cost of the weekly shopping these days, will they up the limit again?????

[Caldera]

Looks like a money laundromat.

[Jack Mountain]

3 hours ago, Jack Mountain said:

Wow that's a pile of 20+ cm. Amazing.

... if 100 Baht notes. Sorry, my bad, just 2 cm with 1000 Baht notes.

[NCC1701A]

these ATMs are for Thais who just got caught by their loan sharks. 

 

 

[Drax]

Idk. 200k isn’t that much. I’ve withdrawn 500k before in like 10 withdrawals at tmb and krungsri atms lol so it’s the same but more practical. Think you’re underestimating how much money a lot of businesses transfer every day and how much people withdraw for purchases in cash. Plus it’s cheaper to use an exchange such as super rich and bring the money In cash than oversea transfers. Rate is much better. And perfectly legal as long as you declare it at customs if above 10k usd. 

 

For the most part banks aren’t concerned with people withdrawing a few thousands a year but millions.  

Edited July 6, 2019 by Drax

[DrDave]

This is a new generation of ATM.

 

Typically, these are implemented inside banks in order to reduce the number of tellers required, because they have the capability to conduct interactive video sessions with a bank representative in a central offsite location. You can do virtually anything with this ATM that you can do with a live teller. It's basically the same as standing in front of a teller.

 

A friend is renting out a building to a large US bank to use as a new local branch. The bank has told him that they'll have only one teller station because they'll be using these machines inside, and this will be the trend going forward for new branches.