Is the Thai banks agreement with the authorities, to control all digital transfers of 50,000 baht and upwards just a new nail in the coffin for the expats who live here as pensioners and on money from their home country, that have to be approved to be at least 65 000 baht a mounth. The decision will of course delay and in some cases problematize their transfers.

I think it's aimed at business accounts, not personal accounts, someone correct me if I'm wrong.

Ok, you are maybe right, but I have not seen that information. Where did you get that from?

"Financial institutions and businesses that come under the Anti-Money Laundering Act’s Section 16, such as gem dealers, car dealers or real-estate brokers, must undergo assessment."

 

Oh I just saw that it will probably include personal accounts, too. So now they will reverse any transfers over 50k baht unless you turn up at your bank with ID and "paperwork". Unbelievable.

Edited October 6, 20196 yr by SteveK

This new regulation will only affect outgoing transfers from Thailand.

2 minutes ago, SteveK said:

"Financial institutions and businesses that come under the Anti-Money Laundering Act’s Section 16, such as gem dealers, car dealers or real-estate brokers, must undergo assessment."

 

Oh I just saw that it will probably include personal accounts, too. So now they will reverse any transfers over 50k baht unless you turn up at your bank with ID and "paperwork". Unbelievable.

So, in your opinion, the question is still relevant then, or ...?

Just now, JamesH said:

This new regulation will only affect outgoing transfers from Thailand.

YES I read that as well as outgoing transfers. No where they mention incoming transfers at all,

so just forget it boys and relax.

 

glegolo

Of course it´s only regarding outgoing transfers. Thailand hate money going out, and loves money coming in. Rest in your chairs and just open another beer. Enjoy the sunset and smile.

Ok, thanks. I read your answer as it is a credible questions and by that keep it up 

2 minutes ago, Matzzon said:

Of course it´s only regarding outgoing transfers. Thailand hate money going out, and loves money coming in. Rest in your chairs and just open another beer. Enjoy the sunset and smile.

And where do you find any evidence for that?

Five day old news already in the News Forum HERE

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