Covid-19: Major Thai bank stops exchanging foreign money

[DPKANKAN]

5 hours ago, Liverpoolfan said:

That's it, slam the final nail in Thailand's tourism coffin why don't you.

There wont be a single tourist left at this rate.

 

Imagine coming here for the first time. Taxi driver shouts you over for a lift.., hang on a minute mate, just need to change some money.. 

Everyone will fall at the first hurdle!!????

 

I was in K Bank this morning getting the '<deleted>' together for visa renewal and a friend came in, having just arrived a couple of days ago, to change some cash. "No. Cannot!!!". Everyone bemused.????????????????

 

[EricTh]

First the Chinese are discriminated, now it is the Italians.

 

 

Edited March 9, 2020 by EricTh

[barryofthailand]

I'm hoping this will not affect money transfers. Have to transfer money every month for immigration 

[mickey rat]

The perfect excuse to ban money altogether! 

[bluemoonpattaya]

They are only refusing to change cash from other countries. 

What they should be looking at, is the fingerprint virus spreading devices at the airport.

[SCOTT FITZGERSLD]

4 minutes ago, barryofthailand said:

I'm hoping this will not affect money transfers. Have to transfer money every month for immigration

so this is your worry now? immigration?

if money transfers will stop it means all international

trade will stop, and than you will have to worry about something

completly different from immigration.

[bluemoonpattaya]

Are Thai bank notes immune from this virus.     

 

sorry if already posted  

[Tchooptip]

6 hours ago, darksidedog said:

Do they know something the government doesn't know, or isn't telling us? Seems a little heavy handed given the allegedly very low numbers confirmed in Thailand.

Translation ????

Seems a little heavy handed given the ridiculous very low numbers fabricated in Thailand. ????

[justin case]

and just when I wanted to exchange some hundred thousands of baht against euro, while it was low... 

 

damn

[Youlike]

4 hours ago, drbeach said:

KTB, like other banks, offer horrible exchange rates anyway. Anyone with a bit of sense changes money only at independent money changers such as Super Rich.

 

The most laughably ridiculous thing is the KTB money changer located at Suvarnabhumi on the lower ground floor as you're heading to the ARL. It's opposite Super Rich. No one would ever exchange money there because their rates were much lower than Super Rich. Good riddance if they go out of business - unless they adapt to the competition they're bound to die.

Last week we were at the bank anyway and out of laziness i wanted to change some cash....she started to exam every single billiet with a loop so i told her they were all real...then the third billiet had a tiny tear in the middle from foulding so it was refused....another one had a tiny tear at the corner, also refused....so i ordered my cash back to go to superrich which took them all without questions.

 

The billiets all came from an atm in Europe.

[zydeco]

6 hours ago, darksidedog said:

Do they know something the government doesn't know, or isn't telling us? Seems a little heavy handed given the allegedly very low numbers confirmed in Thailand.

Yes, I think something major is in the works. They are going to do a slow roll out of closures. Universities will be closed by Songkran. Everything else will gradually close up in between.

[Youlike]

12 minutes ago, justin case said:

and just when I wanted to exchange some hundred thousands of baht against euro, while it was low... 

 

damn

I changed a lot at my wife last months, she 's happy now since the baht is getting more weak....

[david555]

I gueuss it is more an excuse to not give the sudden exchange  rise from euro & others against the drop in Thai baht now . Unwelcome exchange situation by the Thai hiso's.....

[TheFishman1]

How about the government  not letting in almost 1,000,000 people from these infected areas I think that would have a bigger effect then shutting down the money changing crapTIT

[TheFishman1]

I guess the time money is safe to touch right TIT

[fittobethaied]

Typical reaction coming from Thais who generally react out of hysteria rather than upon the facts:

 

How long can coronavirus survive on surfaces?

Reuters, Bloomberg

 

"A CDC spokeswoman, in an emailed statement, said the agency is still looking into how contagious the virus can be when deposited on more common everyday surfaces.

Those surface potentially include paper money, though the Bundesbank said this past week that “so far there is no evidence of the coronavirus having been spread via euro banknotes” and that “the probability of contagion with a virus via a banknote is very low in comparison with other surfaces.”

Euro notes are less likely than door handles, hand rails, light switches and shopping baskets to spread viruses, the German central bank said".

 

https://www.japantimes.co.jp/news/2020/02/29/asia-pacific/science-health-asia-pacific/how-long-coronavirus-surface/

[Davo369]

The exchange booths make it difficult as it is without the virus. 

I.E if the bank note has a little tear, any mark on note, or a little discolored they won't except it. You try changing 5 large in 50s, i was at my bank in the UK for over a hour going through all the notes.

<deleted> joke

[Parsve]

Money is the root to all evil,  seems to be their point of view. 

Edited March 9, 2020 by Parsve
misspelling

[spidermike007]

There is absolutely no risk involved. You disinfect your hands after every transaction. A total over reaction, from a very conservative bank. Avoid Kbank like the plague. They deserve that.

[Pomrakuhn]

7 hours ago, Aachen said:

They can use an ATM or another bank.

How can they exchange foreign currency at an ATM ??

[Parsve]

To be fair, I do not believe it is the foreign money they do not want into the bank. It is the foreign owner of the money they will keep out.

[NCC1701A]

looking at the markets today we now know why.

 

gold hit $1700.

oil collapsed to gulf war price.

US futures market halted.

 

Dow futures point to opening drop of 1,300 points, Treasury yields plunge amid oil price war

 

https://www.cnbc.com/2020/03/08/dow-futures-drop-700-points-as-all-out-oil-price-war-adds-to-coronavirus-stress.html

Edited March 9, 2020 by NCC1701A

[Isaan sailor]

7 hours ago, Assurancetourix said:

In a few days, the euro rose from 33, ..baht to 36.05 this morning;
and the climb will continue to accelerate.

I have not looked at the rate of the US dollar but I suppose that it follows the same upward slope .

If Khun Prayuth has not yet bought his used submarines, it may cost him a lot of US dollars in a few weeks.

I don’t care how they get the USD up—Euro drags it up?  Coronavirus pumps it up? BoT pushes it up?  As long as it goes up.  Been beaten down and kicked for so long...

[metisdead]

A post with a screenshot of some site has been removed.

 

A post using a trolling meme has been removed. 

[sandyf]

1 hour ago, bluemoonpattaya said:

They are only refusing to change cash from other countries. 

What they should be looking at, is the fingerprint virus spreading devices at the airport.

"fingerprint virus spreading devices" - where does that come from?

I went in and out of Malaysia at Padang Besar a few weeks back and there was a guy at the immigration desks cleaning the fingerprint machines each time they were used.

Of course that is not an airport so your theory must be right.

[bluesofa]

46 minutes ago, fittobethaied said:

Typical reaction coming from Thais who generally react out of hysteria rather than upon the facts:

 

How long can coronavirus survive on surfaces?

Reuters, Bloomberg

 

"A CDC spokeswoman, in an emailed statement, said the agency is still looking into how contagious the virus can be when deposited on more common everyday surfaces.

Those surface potentially include paper money, though the Bundesbank said this past week that “so far there is no evidence of the coronavirus having been spread via euro banknotes” and that “the probability of contagion with a virus via a banknote is very low in comparison with other surfaces.”

Euro notes are less likely than door handles, hand rails, light switches and shopping baskets to spread viruses, the German central bank said".

 

https://www.japantimes.co.jp/news/2020/02/29/asia-pacific/science-health-asia-pacific/how-long-coronavirus-surface/

“so far there is no evidence of the coronavirus having been spread via euro banknotes” and that “the probability of contagion with a virus via a banknote is very low in comparison with other surfaces.”

Does this mean change is inevitable - except from a vending machine.

 

[Just Weird]

8 hours ago, Liverpoolfan said:

That's it, slam the final nail in Thailand's tourism coffin why don't you.

There wont be a single tourist left at this rate.

Private companies, banks, etc., i.e. not state enterprises, are not responsible for Thailand's tourist industry, they're responsible for theirs.

[Just Weird]

7 hours ago, TaaSaparot said:

Surely there must be pressure on other banks (and independent money changers) to follow suit?

Pressure?  From whom, why would they be pressured to shut down?

Edited March 9, 2020 by Just Weird

[HaleySabai]

irrational fear takes hold....what else could it be?

[Just Weird]

7 hours ago, TaaSaparot said:

7 hours ago, Matzzon said:

Yes, it´s only those pesky foreign money transaction that are dangerous. 

Yep, that is the way I read it also.

You'd only read it that way if you couldn't understand that Thai notes are involved in every one of those transactions also...and if you couldn't understand the point of Matzzon's entire comment!