Fees for cardless withdrawal coming

[digbeth]

Reported in Thai news today that Krungthat Bank is implementing fee for 'cardless' withdrawal at the ATM where you use the bank app on your phone to make a withdrawal anywhere in Thailand previously with no charge.

 

The fee will be 10 baht per transaction, starting in May, but for the first three months a grace period is given with the first 1 free withdrawal per month until august

 

source (in thai)

 

looks like the government are putting the squeeze on the cash economy, market trader will have to accept the QR Promptpay and be subjected to tax audit

[MJCM]

As someone said in another thread all post / news today is suspicious 

[KhunLA]

Inevitable, as you don't really expect the banks to give you easy access to your money for free.   ATMs cost you, so they can't have you doing the same thing with no charge. 

 

Wait till than ban cash all together, then he fees will really add up.

[scubascuba3]

It's a daft decision, thai style, might as well go back to ATM cards for those banks that start charging

[bob smith]

2 hours ago, scubascuba3 said:

It's a daft decision, thai style, might as well go back to ATM cards for those banks that start charging

yep. got my atm cards and glad i didnt get rid of them now!!!

[phetphet]

7 hours ago, KhunLA said:

Inevitable, as you don't really expect the banks to give you easy access to your money for free.   ATMs cost you, so they can't have you doing the same thing with no charge. 

 

Wait till than ban cash all together, then he fees will really add up.

Still waiting for them to reintroduce charges for mobile transfers such as PromptPay. They were removed at the start of Covid to encourage  people not to handle 'dirty' banknotes.

 

Personally, I still prefer cash, but do often use banking app to pay for some shopping.

 

They seem to operate as a Cartel here. Similar charges all introduced at the same time. 

[soi3eddie]

12 hours ago, digbeth said:

looks like the government are putting the squeeze on the cash economy, market trader will have to accept the QR Promptpay and be subjected to tax audit

Seems to be the case. I just read today that Thai lottery payouts will no longer be made in cash. Have to go into only a couple of certain Government issued bank accounts.

 

At least Thailand is still ahead (or is that behind) of our countries banks refusing cash withdrawals. I withdrew a decent amount of cash here a few weeks ago over the counter with no notice and no questions. Just needed passport and deposit book. That would be impossible in the UK these days.

 

 

 

 

[KhunLA]

2 hours ago, phetphet said:

Personally, I still prefer cash, but do often use banking app to pay for some shopping.

No .. I'm all cash.  SS DD goes into BBL, then every few months, before it hits the $10k USD ceiling, I withdrawal it.   Don't even have a ATM card from BBL.

 

Wife pays for some things (TOT, PEA, PWA) on app, but once they start charging for that, I'm sure she'll stop.

Edited April 2, 2023 by KhunLA

[KannikaP]

3 hours ago, bob smith said:

yep. got my atm cards and glad i didnt get rid of them now!!!

But you were getting charged if you used the said ATM card outside your bank's province anyway.

So you go to get Bht 20,000 out and get charged Bht 10.

Cost you more than that in fuel to get to the ATM machine !

[digbeth]

6 hours ago, soi3eddie said:

Seems to be the case. I just read today that Thai lottery payouts will no longer be made in cash. Have to go into only a couple of certain Government issued bank accounts.

 

At least Thailand is still ahead (or is that behind) of our countries banks refusing cash withdrawals. I withdrew a decent amount of cash here a few weeks ago over the counter with no notice and no questions. Just needed passport and deposit book. That would be impossible in the UK these days.

Thailand is behind the UK, but some Bank like SCB are closing down branches left and right now, some town might be left with only the post office or 7-11 left as the 'banking agent' which always incur fee

[KhunBENQ]

4 hours ago, digbeth said:

but some Bank like SCB are closing down branches left and right now,

Bangkok Bank and Kasikorn Bank massively shutting down branches not only upcountry.

Just look at Kasikorn in central Pattaya. Three branches closed. My K account's "home" has moved twice.

Up here Kasikorn has massively shut down ATMs.

Bangkok Bank simply closed the micro branch in the only (Lotus) mall with no substitute (not even an ATM). And that from the biggest private bank.

A former bank teller at Krungthai since long lost his job and now operates the mom/pop shop at the opposite corner.

[KhunBENQ]

I will move to QR code stuff if forced and be able to handle it.

 

But please: can someone educate Thai people that you can prepare for online payment.

And not start digging for the phone only after the cashier has finished the cart.

Then swiping up and down and back and forth to find the app...

While I fight to keep my temper and control my facial expressions.

Edited April 2, 2023 by KhunBENQ

[scottiejohn]

46 minutes ago, KhunBENQ said:

I will move to QR code

For financial transactions?

What an easy way to loose money and phone data!

Edited April 2, 2023 by scottiejohn

[KhunLA]

49 minutes ago, KhunBENQ said:

Bangkok Bank and Kasikorn Bank massively shutting down branches not only upcountry.

Just look at Kasikorn in central Pattaya. Three branches closed. My K account's "home" has moved twice.

Up here Kasikorn has massively shut down ATMs.

Bangkok Bank simply closed the micro branch in the only (Lotus) mall with no substitute (not even an ATM). And that from the biggest private bank.

A former bank teller at Krungthai since long lost his job and now operates the mom/pop shop at the opposite corner.

Yep, only 2 where we are, and they closed 1, sadly, the most convenient one, at the Lotus's mall, open later & weekends, when people can actually use.

 

Also having 2 or 3 tellers.  Now main branch, crowded, and still only uses 2 teller of the 4 or 5 windows.  

 

What a Joke

[scottiejohn]

1 minute ago, KhunLA said:

Yep, only 2 where we are, and they closed 1, sadly, the most convenient one, at the Lotus's mall, open later & weekends, when people can actually use.

 

Also having 2 or 3 tellers.  Now main branch, crowded, and still only uses 2 teller of the 4 or 5 windows.  

 

What a Joke

The Thai Banks are just following what is happening in the UK and elsewhere as we all go online!

[digbeth]

1 hour ago, KhunBENQ said:

I will move to QR code stuff if forced and be able to handle it.

 

But please: can someone educate Thai people that you can prepare for online payment.

And not start digging for the phone only after the cashier has finished the cart.

Then swiping up and down and back and forth to find the app...

While I fight to keep my temper and control my facial expressions.

Contactless cards are superior to QR in this element, no need for active internet connection, the teller only need to input the amount and the customer need to just tap, but EMV cards means Visa and Mastercard gets a cut, That's why they're putting homegrown solution that is QR PromptPay

[VocalNeal]

10 hours ago, KannikaP said:

But you were getting charged if you used the said ATM card outside your bank's province anyway.

So you go to get Bht 20,000 out and get charged Bht 10.

Cost you more than that in fuel to get to the ATM machine !

...and more than that for someone to come along in a van and fill the ATM.????

[ericthai]

10 hours ago, KhunLA said:

No .. I'm all cash.  SS DD goes into BBL, then every few months, before it hits the $10k USD ceiling, I withdrawal it.   Don't even have a ATM card from BBL.

 

Wife pays for some things (TOT, PEA, PWA) on app, but once they start charging for that, I'm sure she'll stop.

I dont understand your comment $10K USD ceiling?  Your bank has a limit on how much you can keep in the account?

[KhunLA]

5 minutes ago, ericthai said:

I dont understand your comment $10K USD ceiling?  Your bank has a limit on how much you can keep in the account?

No, anything over $10k USD has to be reported to USA, by the bank, then I have to file FBAR form with USA's IRS.

 

All silly & redundant, as they know exactly where the funds are coming from.  

Edited April 2, 2023 by KhunLA

[ericthai]

1 minute ago, KhunLA said:

No, anything over $10k USD has to be reported to USA, by the bank, then I have to file FBAR form with USA's IRS.

 

All silly & redundant, as they know exactly where the funds are coming from.  

ahh, I always forget about the FBAR. 

[scubascuba3]

9 hours ago, KhunBENQ said:

I will move to QR code stuff if forced and be able to handle it.

 

But please: can someone educate Thai people that you can prepare for online payment.

And not start digging for the phone only after the cashier has finished the cart.

Then swiping up and down and back and forth to find the app...

While I fight to keep my temper and control my facial expressions.

Certainly it takes longer than pulling out a thousand, sometimes phone is slow, can't focus on QR code etc, i agree you have to be in the banking app, password, fingerprint before finishing filling the bags

[JayClay]

9 hours ago, scottiejohn said:

For financial transactions?

What an easy way to loose money and phone data!

Okay I'll bite...

 

How do you loose money and phone data by using a promptpay QR code?

 

This should be good.

[scottiejohn]

1 hour ago, JayClay said:

Okay I'll bite...

 

How do you loose money and phone data by using a promptpay QR code?

 

This should be good.

Beware of QR Code Scams - WSJ

Beware of QR Code Scams | disb (dc.gov)

[JayClay]

1 hour ago, scottiejohn said:

Beware of QR Code Scams - WSJ

Beware of QR Code Scams | disb (dc.gov)

Phishing is a universal concept and applies to all payment methods.

 

[KannikaP]

12 hours ago, KhunLA said:

No, anything over $10k USD has to be reported to USA, by the bank, then I have to file FBAR form with USA's IRS.

 

All silly & redundant, as they know exactly where the funds are coming from.  

If that is $10k in any one account, open another!

Or if it is a total of $10k in all banks, there's nowt you can do about it except tell Uncle Sam how much you have sent from his/your country to here.

[foreverlomsak]

On 4/2/2023 at 12:32 AM, KhunLA said:

Inevitable, as you don't really expect the banks to give you easy access to your money for free. 

It's not your money while they have it, you gave it to them remember, and now you're daring to asking for it back.

Why shouldn't you get it back for free, you pay an annual fee for the ATM card and using the ATM means they save money on branches and counter staff, also they lend it out to others and gain interest on the loans. 

[StayinThailand2much]

13 hours ago, VocalNeal said:

...and more than that for someone to come along in a van and fill the ATM.????

Or you want to withdraw 20,000 baht, and the ATM flashes the message: "Only 100s and 20s available'...

[KhunLA]

1 hour ago, KannikaP said:

If that is $10k in any one account, open another!

Or if it is a total of $10k in all banks, there's nowt you can do about it except tell Uncle Sam how much you have sent from his/your country to here.

Rather just spend it.  3 or 4 trips to the bank per year won't wear me out.  I get to drive by, and peek in the window, if near empty, I'll pop in for a withdrawal.

 

Required to bring in 65k a month, so I spend it.  Can't take it with me when I krap it.

[KhunBENQ]

2 hours ago, JayClay said:

Phishing is a universal concept and applies to all payment methods.

 

I scan the code at the checkout of the supermarket, will see amount and recipient and approve.

I am sober not only when shopping

Some people simply can not control greed and curiosity.

[KhunBENQ]

Once was caught with lack of cash at TOPS.

And that was easy like at an ATM.

Insert ATM card to device, enter pin and OK.

But this method is not too widespread?