Cabinet okays plan to inspect e-bank transfers of above Bt50,000

[Max69xl]

6 minutes ago, justin case said:

drug dealers, terrorists, human traffickers are known to use bank transfers or CASH to do their business ???????

You don't seem to understand that Thai banks have to go by same regulations as western banks. This is not new in Europe or in the US.

Every bank back home asks questions when transferring money overseas, especially if the transfers are on regular basis, or large.

[bizboi]

Yet the Shins got 55 billion out!!

[Max69xl]

1 hour ago, Huckenfell said:

In my opinion, someone should investigate the bank accounts of many of the top Military, Police and any other official persons, and do something about corruption and other non possible incomes .

The military have their own bank, TMB. Try to investigate them. ????

[ThomasThBKK]

17 minutes ago, justin case said:

drug dealers, terrorists, human traffickers are known to use bank transfers or CASH to do their business ???????

They are sure using USD and not Thai baht anyway.

 

 

Just a lame excuse for capital controls.

[Max69xl]

1 minute ago, bizboi said:

Yet the Shins got 55 billion out!

Even in China they start to check up on overseas transfers. They don't want everyone to buy condos here and there. They want the Yuan to stay at home.

[eggers]

It seems to imply the monitoring is on funds going out of Thailand!! 

If affects funds coming in, will impact on retirees & pensions coming into accounts here!! 

 

[Max69xl]

1 minute ago, ThomasThBKK said:

They are sure using USD and not Thai baht anyway.

 

 

Just a lame excuse for capital controls.

How often do you transfer >50k overseas from Thailand? If you're even living here. 

[KKr]

50.000 THB ? 
So if someone buys say a business suit, or even a nice quality blazer or jacket, or a decent keyboard abroad, the payment gets stopped ?

usually reporting limits are 10.000 Euro / USD in money transfer offices  in other countries, and there are plenty of reports to file in the countries that I am familiar with. Also, at the discretion of the compliance officer in charge, they can file reports for lower amounts if repetitive.

What a silly way to demonstrate the level of wealth locally.

[ThomasThBKK]

2 minutes ago, Max69xl said:

Even in China they start to check up on overseas transfers. They don't want everyone to buy condos here and there. They want the Yuan to stay at home.

 

Start to check up? It was never legal to transfer money out of China, the limit is 50k USD a year.

Buying condos overseas for chinese is illegal.

Thailand is copying China, not the other way around.

There's no capital controls in europe or the USA, SIngapore and co - you can send much as you want, that's not the case here. Over 15k USD (varies) there are additional checks, but that's all, they don't hold your money hostage like China, Vietnam and now Thailand does....

[Max69xl]

2 minutes ago, eggers said:

It seems to imply the monitoring is on funds going out of Thailand!! 

If affects funds coming in, will impact on retirees & pensions coming into accounts here!! 

 

Every western bank checks outgoing transfers since maybe 5 years because they suspect money laundering. How will it affect funds coming in?? Please,tell me.

[KKr]

2 hours ago, overherebc said:

Strangely enough she transferred it back a couple of weeks later in one transaction from her bank and it wasn't 'too much'

you are a lucky person indeed ! ????

 

[KKr]

2 hours ago, Khon Kaen Jeff said:

You consider 50k baht a large pile of cash?

yes, prefer not to carry cash at all.
money in the pocket is not working.

[KKr]

6 minutes ago, ThomasThBKK said:

they don't hold your money hostage

don't forget India, send money there and it may be confiscated willy nilly. 
Also for Indians, the overseas CC cash withdrawal limit is less than 150 $ if my memory does not err me.

[Max69xl]

2 minutes ago, ThomasThBKK said:

 

Start to check up? It was never legal to transfer money out of China, the limit is 50k USD a year.

Buying condos overseas for chinese is illegal.

Thailand is copying China, not the other way around.

There's no capital controls in europe or the USA, SIngapore and co - you can send much as you want, that's not the case here. Over 15k USD (varies) there are additional checks, but that's all, they don't hold your money hostage like China, Vietnam and now Thailand does....

You're right, but now the Chinese government officially checks money leaving the country. Buying condos is illegal? So what if they got away with the transfer? Thailand isn't copying anyone. Thailand must go by international banking regulations and there's been several complaints. Get it? 

It's not about how much you transfer from let's say Europe, since maybe 5 years you have to explain why you transfer the money. But you might only have to answer a bunch of questions once. This is not about capital control. Don't be so paranoid. Keep your money in your matress well hidden if that makes you happy, and only use cash. 

[Max69xl]

8 minutes ago, KKr said:

yes, prefer not to carry cash at all.
money in the pocket is not working.

Have you tried a Visa card in the local thai market? It seems you don't live in Thailand. I read somewhere that ~78% of the purchases in Thailand are cash. I don't know if the number is correct,but it might be. 

[ThomasThBKK]

8 minutes ago, Max69xl said:

You're right, but now the Chinese government officially checks money leaving the country. Buying condos is illegal? So what if they got away with the transfer? Thailand isn't copying anyone.

It's not about how much you transfer from let's say Europe, since maybe 5 years you have to explain why you transfer the money. But you might only have to answer a bunch of questions once. This is not about capital control. Don't be so paranoid. Keep your money in your matress well hidden if that makes you happy, and only use cash. 

 

Like tax dodging, fine until they want to skrew you or like communist countries prefer to do it, just confiscate your assets.

China confiscates assets of rich chinese every goddamn day whenver they are deemed a risk to the system.

 

Quote

Thailand must go by international banking regulations and there's been several complaints. Get it? 

 

BS. These are capital controls and nothing else, none of these exist in the FATF guidelines, you know nothing about banking. Stop it.

 

https://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/FATF Recommendations 2012.pdf

 

Quote

Financial institutions should be required to undertake customer due diligence (CDD) measures when:

(i) establishing business relations;

(ii) carrying out occasional transactions:

(i) above the applicable designated threshold (USD/EUR 15,000); or

(ii) that are wire transfers in the circumstances covered by the Interpretive Note to Recommendation 16;

(iii) there is a suspicion of money laundering or terrorist financing; or

(iv) the financial institution has doubts about the veracity or adequacy of previously obtained customer identification data.

 

 

Do we see anything about a lousy 2000 USD limit there? Right. No.

Because it's just CAPITAL CONTROLS.

 

How do we also know it's just CAPITAL CONTROLS? Because it's only for outgoing transactions. And always was, it was always hard to get money out but easy to get in here.

[thaiguzzi]

2 hours ago, Khon Kaen Jeff said:

Why on earth would that shock and amaze you? It was only about 10k GBP back then. I assume you have led a very sheltered life.

You assume a lot, but you know very little.

GFY.

[Max69xl]

19 minutes ago, ThomasThBKK said:

 

Start to check up? It was never legal to transfer money out of China, the limit is 50k USD a year.

Buying condos overseas for chinese is illegal.

Thailand is copying China, not the other way around.

There's no capital controls in europe or the USA, SIngapore and co - you can send much as you want, that's not the case here. Over 15k USD (varies) there are additional checks, but that's all, they don't hold your money hostage like China, Vietnam and now Thailand does....

If I for some reason will leave Thailand, I can withdraw every baht I have in the bank. I can afford parking my money in a thai bank long term. It's not worse than having them in a crappy account in my home country. 

[ExpatOne]

19 hours ago, kevin612 said:

50000 is such a low limit, target 100000 and above.

That’s also a low limit.

[Khon Kaen Jeff]

6 minutes ago, thaiguzzi said:

You assume a lot, but you know very little.

GFY.

Ooohhh, you're edgy!

[MartinKal]

19 hours ago, La Migra said:

Given all the discussions on international bank transfers, those needed for Immigration, and if they showed up as international or internal...... If the banks start counting those under this 50Kbaht reporting rule, I wonder if you could use THAT report for Immigration. To show each monthly transfer was bringing money in from outside country.

Good point

[Max69xl]

3 minutes ago, ThomasThBKK said:

 

Like tax dodging, fine until they want to skrew you or like communist countries prefer to do it, just confiscate your assets.

China confiscates assets of rich chinese every goddamn day whenver they are deemed a risk to the system.

 

 

BS. These are capital controls and nothing else, none of these exist in the FATF guidelines, you know nothing about banking. Stop it.

 

https://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/FATF Recommendations 2012.pdf

 

 

 

Do we see anything about a lousy 2000 USD limit there? Right. No.

Because it's just CAPITAL CONTROLS.

 

How do we also know it's just CAPITAL CONTROLS? Because it's only for outgoing transactions. And always was, it was always hard to get money out but easy to get in here.

You're just a paranoid whiner. Every incoming international transfer can be transferred overseas. Have you ever needed to transfer money overseas? Do you have so much money, so you feel "they" are watching you?

[Max69xl]

1 minute ago, MartinKal said:

Good point

It's still only about >50k transfers overseas,not incoming. 

[ThomasThBKK]

9 minutes ago, Max69xl said:

You're just a paranoid whiner. Every incoming international transfer can be transferred overseas. Have you ever needed to transfer money overseas? Do you have so much money, so you feel "they" are watching you?

 

No, just because i expose your lies doesn't mean i am a whiner. There is no international framework that has anything to do with this 50 000 Limit, maybe it's a typing mistake by bad journalism tho - 500 000 THB would match the FATF guidelines.

 

Do you have anything to add except your useless praising of thailand and ad hominems plus misinformation? 

 

 

 

Quote

Have you ever needed to transfer money overseas?

 

yes, many times. Always a pain if it's profits from RE sales especially.

 

 

Quote

Do you have so much money, so you feel "they" are watching you?

 

Not brainwashed enough to have that in Thailand, no.

[overherebc]

44 minutes ago, KKr said:

you are a lucky person indeed ! ????

 

A bit of a sarcastic answer.

[KKr]

23 minutes ago, Max69xl said:

Have you tried a Visa card in the local thai market? It seems you don't live in Thailand. I read somewhere that ~78% of the purchases in Thailand are cash. I don't know if the number is correct,but it might be. 

I wrote prefer not to carry cash because money in the pocket is not working.
Did not say that I do not carry cash to buy food and just in case, or when petrol of the click runs out.
The other day went to London borough market, back in Europe, and was glad I had a card because did not have sufficient cash. haha.
Also noticed that all stalls over there issue receipts, no wonder the prices are somewhat higher than on the market in Thailand.

However, will try visa and if that does not work Alipay card to pay sauw baht for a quadruple bunch of coriander and report back to you without fail whether I was successful getting scolded or was just waved off with a "pai pai" and a few other kind words.

[Number 6]

This is hilarious. All the usual suspects who quite literally are laundering money (it's the only thing this country does well) will have their accounts immunised from scrutiny. Meanwhile....

 

Whenevr I go in I see people with small suitcases in my banks.

 

I think it's just international posturing. Just like everything in Thailand, just for show.

[KKr]

33 minutes ago, overherebc said:

A bit of a sarcastic answer.

really, seems I am mellowing down with age, used to be called a cynic ????

Joking aside, the bank staff's interpretation of rules is sometimes amazing, I agree with you.

[chainarong]

19 hours ago, Cadbury said:

Big Brother is watching you. The Prayut government is learning fast about the communist Chinese CCTV surveillance and banking systems. 

Farang expats by default will always be primary suspects. 

 

 

 

Oz has a 10 grand limit then you need to go to the bank. Big Brother in OZ would <deleted> on anything China has.

[The Preacher]

Will they be looking at transfers from Chinese and American military equipment suppliers to the Thai Military Bank branch in the Cayman Islands.  Yes, that is the location of their "international branch."  Although I know nothing, there might be certain "procurement commissions" involved in the submarine, armored vehicle and attack helicopter purchases.