webfact Posted October 18, 2022 Share Posted October 18, 2022 The Bank of Thailand has defended new rules for cash deposits through automated cash deposit machines (CDMs), introduced by the Anti-Money Laundering Office (AMLO). Bank of Thailand’s Payment Systems Policy Office’s senior director, Budsakorn Teerapunyachai, said today (Tuesday) that the new measure is in line with the AMLO law against money laundering and financial support for terrorism. She also said that the central bank will urge all commercial banks to modify their systems to accommodate the new requirement and other card-less identification services. Full story: https://www.thaipbsworld.com/thai-central-bank-defends-new-controls-on-cash-deposits-via-cdms/ -- © Copyright Thai PBS 2022-10-19 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! 2 Link to comment Share on other sites More sharing options...
pjmorton Posted October 19, 2022 Share Posted October 19, 2022 I sympathize with bank customers who want to avoid fees for ATM services involving debit cards. The underlying problem may be the recent increases in fees for card-based services. At least one major bank has now started charging its own customers for using its own cards in its own machines if they are not not located near the customer's home branch. Prohibiting abusive charges like this might make customers more comfortable about using their ATM cards. 2 Link to comment Share on other sites More sharing options...
worgeordie Posted October 19, 2022 Share Posted October 19, 2022 To combat money laundering , I suppose all this Black money generated through drugs , corruption ,scams , etc., will still be moving about fairly freely ,still be able to reach overseas accounts, these laws affect the ordinary person more , regards worgeordie 1 1 Link to comment Share on other sites More sharing options...
Popular Post LukKrueng Posted October 19, 2022 Popular Post Share Posted October 19, 2022 17 minutes ago, pjmorton said: I sympathize with bank customers who want to avoid fees for ATM services involving debit cards. The underlying problem may be the recent increases in fees for card-based services. At least one major bank has now started charging its own customers for using its own cards in its own machines if they are not not located near the customer's home branch. Prohibiting abusive charges like this might make customers more comfortable about using their ATM cards. Banks have always charged for deposits\withdrawals in branches not in the same or neighbouring provinces 1 2 Link to comment Share on other sites More sharing options...
jacko45k Posted October 19, 2022 Share Posted October 19, 2022 19 minutes ago, pjmorton said: I sympathize with bank customers who want to avoid fees for ATM services involving debit cards. The underlying problem may be the recent increases in fees for card-based services. At least one major bank has now started charging its own customers for using its own cards in its own machines if they are not not located near the customer's home branch. Prohibiting abusive charges like this might make customers more comfortable about using their ATM cards. Which bank is this......? My recollection was I have always had to pay for using out of province ATM machines. Some years back the banks allowed a limited number of withdrawals from other bank's machines in the same region (don't think it was Province wide), prior to that there was a charge. Link to comment Share on other sites More sharing options...
JimHuaHin Posted October 19, 2022 Share Posted October 19, 2022 Why all ADM deposits? The aim is to stop money laundering, right? So why not set a limit on deposits before the new procedures are required? For example - depositing Baht under Baht 10,000 - use the existing system. Once you want to deposit Baht 10,000+ you use the new system. 2 Link to comment Share on other sites More sharing options...
KhunBENQ Posted October 19, 2022 Share Posted October 19, 2022 (edited) I am a bit tired to repeat the discussion in the initial thread about this topic. And again all kind of things mixed in like the out of province fee for withdrawals (can be avoided with cardless withdrawal). Not new in any way. A nuisance as long as I can remember. The topic is about >deposit< of cash at the machines. For me nothing changes. Always "identified" with my bank card. I bet only few foreigners are affected by the change. Edited October 19, 2022 by KhunBENQ Link to comment Share on other sites More sharing options...
Cake Monster Posted October 19, 2022 Share Posted October 19, 2022 8 hours ago, webfact said: Bank of Thailand’s Payment Systems Policy Office’s senior director, Budsakorn Teerapunyachai, said today (Tuesday) that the new measure is in line with the AMLO law against money laundering and financial support for terrorism. ....and especially to keep what little Cash Money is circulating, doing just that. Link to comment Share on other sites More sharing options...
rbkk Posted October 19, 2022 Share Posted October 19, 2022 How to deposit cash to your account? My wife has a concession store in Lotus's. Our staff at the end of the day go upstairs to True (Wallet) and scan using a QR code (free) and my wifes' phone number and deposit the daily takings. My wife then can transfer free to her bank a/c. Been doing this for years. Link to comment Share on other sites More sharing options...
landosmiles Posted December 31, 2023 Share Posted December 31, 2023 (edited) At least as a foreigner, until Q4-2023 I was able to deposit into my own accounts at Krungsri and SCB CDMs by typing in my account numbers. However, both banks' CDMs now require a Thai ID (passport didn't work) or Thai ATM card apparently. Krungsri said they made that change on November 11, 2023. I haven't yet tried Bangkok Bank. Anyone know of a workaround to do free cash deposits into one of my own Thai accounts? Do any Thai banks offer free ATM cards? (Do any Thai banks still allow CDM deposits without a Thai ID/ATM card?) Edited December 31, 2023 by landosmiles Link to comment Share on other sites More sharing options...
Ben Zioner Posted December 31, 2023 Share Posted December 31, 2023 37 minutes ago, landosmiles said: Anyone know of a workaround to do free cash deposits into one of my own Thai accounts? Why on earth would you need to do that? Link to comment Share on other sites More sharing options...
StayinThailand2much Posted December 31, 2023 Share Posted December 31, 2023 (edited) 54 minutes ago, landosmiles said: At least as a foreigner, until Q4-2023 I was able to deposit into my own accounts at Krungsri and SCB CDMs by typing in my account numbers. However, both banks' CDMs now require a Thai ID (passport didn't work) or Thai ATM card apparently. Krungsri said they made that change on November 11, 2023. I haven't yet tried Bangkok Bank. It's a headache. Till earlier this year, type in number, put money into CDM. Keeping four bank accounts, but only a debit card for one, I now have to go with my bankbook and passport to the branch during opening hours, waiting 30-120min. just to deposit a few thousand baht, as banks don't issue ATM cards anymore. (I don't need four debit cards, but only one for the account I use regularly.) Edited December 31, 2023 by StayinThailand2much Link to comment Share on other sites More sharing options...
landosmiles Posted December 31, 2023 Share Posted December 31, 2023 23 minutes ago, Ben Zioner said: Why on earth would you need to do that? Is your question why would someone want to deposit money at an ATM/CDM into their own account? Or why they would not want to pay to do so? Link to comment Share on other sites More sharing options...
impulse Posted December 31, 2023 Share Posted December 31, 2023 (edited) 1 hour ago, StayinThailand2much said: It's a headache. Till earlier this year, type in number, put money into CDM. Keeping four bank accounts, but only a debit card for one, I now have to go with my bankbook and passport to the branch during opening hours, waiting 30-120min. just to deposit a few thousand baht, as banks don't issue ATM cards anymore. (I don't need four debit cards, but only one for the account I use regularly.) Just spitballing here, because maybe I don't understand the issue... Would it be possible to do a cash deposit at a CDM using the one debit card, then move those funds from that account to your other accounts using your debit card at an ATM? Before I left Thailand, I loaned some baht to a workmate and she paid me back over a period of about 2 years while I was a Covid refugee back home. Obviously, she didn't need my debit card to deposit money to my account. Just my account number. (And there was no question who was sending me the money, it came from her account) I also recall making some purchases where I was able to use my debit card at a Thai ATM to pay 3rd parties for the goodies, with just their acct #.. I don't recall incurring any fees for either of those. Or has something changed above and beyond requiring CDM deposits to identify who's putting in the cash? Edited December 31, 2023 by impulse Link to comment Share on other sites More sharing options...
StayinThailand2much Posted December 31, 2023 Share Posted December 31, 2023 (edited) 24 minutes ago, impulse said: Just spitballing here, because maybe I don't understand the issue... Would it be possible to do a cash deposit at a CDM using the one debit card, then move those funds from that account to your other accounts using your debit card at an ATM? Yes, it's possible. Deposit my 2,000 baht, but pay 50 baht for the deposit with another bank. (That's what I paid last time when I deposited cash at bank A's CDM for my account with bank B, both in Bangkok.) Edited December 31, 2023 by StayinThailand2much Link to comment Share on other sites More sharing options...
Liverpool Lou Posted December 31, 2023 Share Posted December 31, 2023 (edited) 1 hour ago, StayinThailand2much said: ...banks don't issue ATM cards anymore. Which Thai banks no longer issue ATM cards? Edited December 31, 2023 by Liverpool Lou 1 Link to comment Share on other sites More sharing options...
impulse Posted December 31, 2023 Share Posted December 31, 2023 2 minutes ago, StayinThailand2much said: Yes, it's possible. Deposit 2,000 baht, but pay 55 baht for the deposit with another bank. Good info. I didn't realize there was a fee. Still, between a 55 baht fee and slogging down to the branch and waiting an hour in the queue, I'd pay the 55. Wouldn't be happy about it, but I'd pay it. Link to comment Share on other sites More sharing options...
StayinThailand2much Posted December 31, 2023 Share Posted December 31, 2023 6 minutes ago, impulse said: Good info. I didn't realize there was a fee. Still, between a 55 baht fee and slogging down to the branch and waiting an hour in the queue, I'd pay the 55. Wouldn't be happy about it, but I'd pay it. Yes, paying the fee beats sitting there for hours, waiting for one's number to be called. Link to comment Share on other sites More sharing options...
KhunBENQ Posted December 31, 2023 Share Posted December 31, 2023 (edited) Much ado about nothing. If you are not willing to pay 100 to 200 Baht per year for a debit card you better place your money under the pillow. Money transfer between Thai banks via online banking is free and instant. I visit bank branch max 2 times a year if book is full or need letter for immigration. And the queues at the teller don't look like an hour (while new book/letter might take a while). Edited December 31, 2023 by KhunBENQ Link to comment Share on other sites More sharing options...
Ben Zioner Posted December 31, 2023 Share Posted December 31, 2023 (edited) 2 hours ago, landosmiles said: Is your question why would someone want to deposit money at an ATM/CDM into their own account? Or why they would not want to pay to do so? Well I haven't made any cash deposit into any of my accounts for 50 years... The only reason for doing this, that I could imagine, would be some illegal activity, such as prostitution, drugs etc. Edited December 31, 2023 by Ben Zioner Link to comment Share on other sites More sharing options...
KhunBENQ Posted December 31, 2023 Share Posted December 31, 2023 (edited) 6 minutes ago, Ben Zioner said: Well I haven't made any cash deposit into any of my accounts for 50 years... I did in the past. Withdrawing with foreign card in the good old AEON times (max single withdraw was 98k! Baht). Then deposit at Bangkok Bank CDM. At this time (AEON no fee, home bank no fee) that was a cheap way to transfer money. All a thing of the past. WISE does the job now. Edited December 31, 2023 by KhunBENQ Link to comment Share on other sites More sharing options...
jacko45k Posted January 1 Share Posted January 1 11 hours ago, StayinThailand2much said: Yes, paying the fee beats sitting there for hours, waiting for one's number to be called. Agreed, the annual 300 baht charge recently popped up on my account and after reading a few posts here I am no longer so aggrieved. What a lot of aggravation folks go through to avoid such a small cost. Link to comment Share on other sites More sharing options...
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