Is your money safe in Krung Thai Bank

[memooz]

I had an experience from same bank at late Jan this year. I was at BKK couldnt buy air ticket from NOK air then rang the airline bought the ticket over the phone giving my card details. Then back to Home; that night realised that with 3 transactions DB INTERNET drawn 5300 bath in total. I did ring the bank late night and explained , they cancelled the card and told me I can get my money in 45 days, which I did get my monet in 45 days. Thanks.. My experience was better than in Sydney though. 

[lkn]

1 hour ago, Neeranam said:

Of course tourists can't even open an account and were not mentioned. Did you really think I was a  tourist after saying it took me 5 years to get it sorted out?

I am here on a tourist visa, I had no problem opening an account with KTB, neither did my friend, with his “visa on arrival” stamp. So yes, I thought you was here “as a tourist”, as that would explain why you couldn’t get any interest.

 

And the policy I pasted above, makes it somewhat clear, that you *can* open an account with KTB regardless of your visa status, you just can’t (always) get interest on the account.

 

2 hours ago, Neeranam said:

Secondly, you stated that "KTB only issues interests to foreigners with a work permit." which I said was nonsense, which it is. Just admit you got it wrong.

I got that wrong, yes, I thought I already made that clear in my previous post, when I said there were actually four factors allowing you to get interests.

 

What I should have originally written was that “you can’t get interests (from KTB) if you are here on a tourist visa”. That they denied you interests, it seemed either you or the bank was not aware of these four qualifying factors, in your case, the work permit, and the factor I did mention, which you called nonsense. But it’s not nonsense.

 

2 hours ago, Neeranam said:

When I got them to start giving all us interest, I was fired

Are you implying here that somehow the bank retaliated and got you fired, for forcing them to give you interests? I really don’t think these 0.5% interests comes out of the money of the bank manager, so why on Earth would he care so much as to get you fired? And how would he even have that much influence with your employer?

 

2 hours ago, Neeranam said:

the guy would lose his job(and probably go to jail)

So the guy who had enough influence to get you fired, would probably go to jail, if you made a formal complaint? Something does not make compute…

 

And I really don’t think you can go to jail for not offering you interests on your bank account, especially as the default for foreigners (in KTB) is not to get interests, until going through the paperwork to document their visa status and get it enabled.

 

[5633572526]

On 3/18/2020 at 2:10 PM, transam said:

At BKK Bank it costs me 15 baht a month to be told about money going in or out via SMS......????

Odd I have never been charged anything for that service at Bangkok bank.

[transam]

2 hours ago, 5633572526 said:

Odd I have never been charged anything for that service at Bangkok bank.

Perhaps you are posh...........????

 

PS. I do not get a monthly SMS for the 15 baht charge...

[Saltire]

I think the instant SMS is a great feature. If you are suspicious of 1 transaction you dont need to wait for 4 more to do something about it.

 

You can also deactivate and reactivate your account online which presumably would reject further transactions.

 

Been with KTB 3 years - no issues.

 

 

[OJAS]

On 3/18/2020 at 1:52 PM, RogerT2 said:

My thai GF had B25000 in her acct 28/2/20 11 days later finds only 3100 left, 7 transactions happened in Singapore on 4/3/20 with some type of duplicate card. Guess what the Bank doesn't accept any responsibility this B22000 loss and their poor security of her account. This can happen to you I'd say move it or you can lose it too.

Exactly matches my experience with that particular bank, save for the amounts involved (which were only slightly different, though), 12 years ago - so to all the sceptical naysayers on this particular thread 

 

As per your final sentence, though, I do have to confess that I did leave a colossal balance of 11 satang to fester in the account before it presumably became dormant eventually.

 

Comes as no surprise to me, then, to learn that KTB's security procedures still appear to be just as lax as they were 12 years ago.

Edited March 21, 2020 by OJAS

[lkn]

5 minutes ago, OJAS said:

Comes as no surprise to me, then, that KTB's security procedures still appear to be just as lax as they were 12 years ago.

Majority of card fraud is “card not present” fraud, i.e. using the card to buy things online. KTB has effectively stopped that by requiring that all customers enable “Verified by VISA” if they want to use their card online, which will cause each transaction to require a verification code sent to your mobile phone.

 

A much smaller percentage of fraud is “physical card present”, this is where the fraudster has duplicated your card. KTB has equipped all their cards with an EMV chip and 6 digit PIN code, it’s effectively impossible to duplicate the EMV chip, so a fraudster can only duplicate the magnetic strip, which would only allow them to use the card at vendors that have not yet upgraded their terminals to support EMV chips, and still do the old “swipe and sign”. There is not much KTB can really do about the existence of these vendors, however, they are few and far between (it has been years since I last had to swipe my card), furthermore, any vendor who uses “swipe and sign” today would be liable for any fraud, these are EMV rules, and as the card of OP’s girlfriend was used abroad, it must have been used as a Euro-, Master-, or VISA card, making the vendor liable for these fraudulent transactions.

So I don’t see how you can say KTB has lax security procedures, they are industry best practices, the only thing you can fault here is why was multiple “swipe and sign” purchases abroad not flagged as potential fraud, but we don’t know for sure, that this is really what happened, we just have OP’s partial story about how someone else’s card was used abroad, and since the bank did not reimburse them for the amounts withdrawn, it sounds like the money were *not* withdrawn via “swipe and sign”, but more likely with “chip and PIN”, in which case the bank probably do not believe that it was actually fraud, given how unlikely it is that someone can actually make a copy of the girlfriend’s EMV chip and also know her 6 digit PIN…

[RogerT2]

Maybe this topic helped her case, her 22000 B loss is back in the account.

wow! Good result. Think maybe she wasn't  the only victim.

[asiaexpat]

On 3/18/2020 at 1:59 PM, Pravda said:

 

Doubtful, unless of course it happens to you.

 

And how does SMS stop you from being defrauded?

It warns you there are transactions and you can call and stop them. This is a necessary service for those that use ATM cards. In the agreement that goes with the card it warns that the user must manage the security of the card.