True Money Account Locked

[Robbkk]

This morning, to my surprise, my True Money account was locked because my "supporting documents" have expired. I assume they are referring to my work permit. I have lost access to my funds in the True Money account.

 

While this is not in itself a huge issue (I have a new work permit) it does raises a few red flags about the safety of the money I have in Thailand. 

 

So my question is about bank accounts. When I opened the bank account they took photocopies of my work permit so I assume they know about the expiration date.

 

Is it a new policy to refuse banking services to foreigners after their work permits have expired? I heard about one former teacher having his bank account frozen but I'm not sure if this is something I should be concerned about. Any insights would be appreciated.

 

Also If anybody can recommend an international payment system such as Wise or Samsung pay, that would be appreciated. I have lost all confidence in True.

 

 

 

 

 

[impulse]

My WP expired several years ago, and I'm on visa exempt with 6 or 7 entries in 2023.  My US passport expired when I was a Covid refugee.  Went into K-Bank this summer to update my passport number on my K-Bank account and had no problem.  Took a long time for all the forms, but there was never any suggestion that I wouldn't be able to keep the account.

 

Edit:  Because I don't have a Thai address any more, I didn't ask for a new bank debit card.  No place for them to mail it...

 

Edited November 7, 2023 by impulse

[FritsSikkink]

Tru money isn't a bank.

I opened a bank account on a tourist visa many years ago, still active.

Edited November 7, 2023 by FritsSikkink

[Gaccha]

2 hours ago, Robbkk said:

Is it a new policy to refuse banking services to foreigners after their work permits have expired

 

No. Nor is it an old policy.

[Moonlover]

Stop over thinking and just reregister using a driving license or pink card. (I forget the other options) It's easy peasy.

 

Visit this thread and ignore all the naysayers. Plenty of tips to help you get going again.

 

 

 

Edited November 7, 2023 by Moonlover

[freeworld]

Once again shows that any account and the contents/assets thereof one has with a financial institution, does not belong to the name on the account.

[freeworld]

Look what I found on BB website

 

''Foreign Customers

Banking in Thailand made easy''

[Moonlover]

14 minutes ago, freeworld said:

Look what I found on BB website

 

''Foreign Customers

Banking in Thailand made easy''

Where?

[freeworld]

2 minutes ago, Moonlover said:

Where?

https://www.bangkokbank.com/en/Personal/Other-Services/Foreign-Customers

[Liverpool Lou]

4 hours ago, Robbkk said:

Is it a new policy to refuse banking services to foreigners after their work permits have expired?

No, it is not.  A WP is not a requirement to operate an existing BBL account.

Edited November 7, 2023 by Liverpool Lou

[Liverpool Lou]

4 hours ago, impulse said:

Because I don't have a Thai address any more, I didn't ask for a new bank debit card.  No place for them to mail it...

If you'd have asked, they would have issued a new card while you waited, they don't have to be posted out.

[Liverpool Lou]

2 hours ago, Moonlover said:

Stop over thinking and just reregister using a driving license or pink card. (I forget the other options) It's easy peasy.

 

Visit this thread and ignore all the naysayers. Plenty of tips to help you get going again.

Hear, hear.  Also. he can call TrueMoney for advice on 1240.

[Liverpool Lou]

1 hour ago, freeworld said:

Once again shows that any account and the contents/assets thereof one has with a financial institution, does not belong to the name on the account.

Once again, b0llocks.

[impulse]

7 minutes ago, Liverpool Lou said:

If you'd have asked, they would have issued a new card while you waited, they don't have to be posted out.

 

Good info.  I'll go by and ask for one next week on my monthly visa run to Thailand.  I thought they had to emboss my name on a card and mail it out (or hold it for me at the bank), and I'm generally only in LOS for a week or so.

 

Edit:  I'd add that I don't really use the account  I just kept some money in it in case I want to use it in the future for a retirement visa, given the difficulties I've been hearing about a non-resident foreigner opening a new account.  But it would be handy to have a debit card...

 

Edited November 7, 2023 by impulse

[Liverpool Lou]

1 hour ago, freeworld said:

Look what I found on BB website

 

''Foreign Customers

Banking in Thailand made easy''

So what is it that is not easy for existing BBL account holders such as the OP?

[Caldera]

21 minutes ago, impulse said:

I thought they had to emboss my name on a card and mail it out (or hold it for me at the bank), and I'm generally only in LOS for a week or so.

 

With Kasikorn Bank, you can get your debit card right away, and your name on the card will be "Privileged Customer". No problem at all, I've never bothered to update my postal address with then.

[impulse]

2 minutes ago, Caldera said:

With Kasikorn Bank, you can get your debit card right away, and your name on the card will be "Privileged Customer". No problem at all, I've never bothered to update my postal address with then.

 

Showing my age...  I still recall the machines they used to swipe credit cards to make several copies on carbon paper.  Pumped gas during high school and will never forget that sound.

[freeworld]

55 minutes ago, Liverpool Lou said:

Once again, b0llocks.

If one really owned the account it would not be blocked. The company could have asked to submit updated docs rather than unilaterally blocking the account.

[Lemsta69]

1 hour ago, Liverpool Lou said:

So what is it that is not easy for existing BBL account holders such as the OP?

 

Paying by QR code at 1am last Saturday night at the pub, they took the system offline at 12:20. That's the peak party time!

 

Lucky for me I brought my debit Mastercard along for the ride. Said card which I had to go all the way from Bangkok to Pattaya to get as they wouldn't issue it here in Bangkok.

 

Not that I should have needed to do that if they'd given me the MC debit card in the first place instead of the expensive and useless Union Pay card.

 

Changing address is also not easy. I had to almost beg the guy at the Thaniya branch to do it, he wanted to send me all the way back to Patts.

 

So yeah, not all beer and skittles with good ol' BKKBK or BKB or whatever the AN acronym du jour is.

[mrwebb8825]

6 hours ago, impulse said:

 

Good info.  I'll go by and ask for one next week on my monthly visa run to Thailand.  I thought they had to emboss my name on a card and mail it out (or hold it for me at the bank), and I'm generally only in LOS for a week or so.

 

Edit:  I'd add that I don't really use the account  I just kept some money in it in case I want to use it in the future for a retirement visa, given the difficulties I've been hearing about a non-resident foreigner opening a new account.  But it would be handy to have a debit card...

 

get the banking app loaded on your phone when you go in instead. They also have cardless ATM access.

[DrJoy]

12 hours ago, impulse said:

I didn't ask for a new bank debit card

You can ask for an instant debit card, no need mailing address, issued on the spot

[Celsius]

And some people are literally begging to open a bitkub account.

 

Stay away. 

[Liverpool Lou]

6 hours ago, Lemsta69 said:

7 hours ago, Liverpool Lou said:

So what is it that is not easy for existing BBL account holders such as the OP?

 

Paying by QR code at 1am last Saturday night at the pub, they took the system offline at 12:20.

A one-off that they made a warning announcement about on the app so that no one was taken by surprise.

[phetphet]

i haven't looked at any of these myself,  just seen adverts, but what about Rabbit Line Pay or Grab Pay for local stuff? Would these do the same thing as True Money?

 

I think AIS have some sort of payment system as well.

Edited November 7, 2023 by phetphet

[Lemsta69]

1 hour ago, Liverpool Lou said:

A one-off that they made a warning announcement about on the app so that no one was taken by surprise.

 

The point was the lengths they made me go to to obtain a halfway useable debit card.

 

They had a promotion for some special debit cards that you could only apply for online but they wouldn't accept applications for foreigners because reasons. 

 

So I had to hump the stinky old bus from Ekkamai to Pattaya and back just to get a new debit card. And got shouted at by a surly teller because I mistyped the card PIN a few times (the machine doesn't have haptic feedback).

 

Not the most positive of experiences for this little old farang.

[AgMech Cowboy]

10 hours ago, freeworld said:

Once again shows that any account and the contents/assets thereof one has with a financial institution, does not belong to the name on the account.

True is not a financial institute.

 

49 minutes ago, phetphet said:

i haven't looked at any of these myself,  just seen adverts, but what about Rabbit Line Pay or Grab Pay for local stuff? Would these do the same thing as True Money?

 

I think AIS have some sort of payment system as well.

None of these are banks. It's easy to open a bank account (especially if you've got a work permit) and just pay your bills 'online'.  I pay only my 'village fee' with cash and plan to ask if they have a transfer or payment account when I go to the office tomorrow.  If you're using "True Money" they're collecting a fee somehow, someway, somehow. 

[Robbkk]

9 hours ago, AgMech Cowboy said:

If you're using "True Money" they're collecting a fee somehow, someway, somehow. 

 

No fees. Debit cards charge an annual fee though. 

 

I agree that direct online transfers are the most convenient way to make payments unless of course the bank servers are down for maintenance which happens from time to time. 

[Robbkk]

18 hours ago, impulse said:

I'd add that I don't really use the account  I just kept some money in it in case I want to use it in the future for a retirement visa,

 

Better not request a debit card then. They will charge annual fees for the card. And if your account balance reaches zero they will close it.

[Liverpool Lou]

16 hours ago, AgMech Cowboy said:

If you're using "True Money" they're collecting a fee somehow, someway, somehow. 

...from the merchant as the price is the same whether TrueMoney is used or cash, or bank transfer, or card payment, or QR code...or perhaps the income from ads covers what would, otherwise, be the fee?

[john donson]

On 11/7/2023 at 7:19 AM, impulse said:

My WP expired several years ago, and I'm on visa exempt with 6 or 7 entries in 2023.  My US passport expired when I was a Covid refugee.  Went into K-Bank this summer to update my passport number on my K-Bank account and had no problem.  Took a long time for all the forms, but there was never any suggestion that I wouldn't be able to keep the account.

 

Edit:  Because I don't have a Thai address any more, I didn't ask for a new bank debit card.  No place for them to mail it...

 

 

as long as there is some money on the account, right ?

 

I am getting sick of all the red tape ,  now the problem will be sending out my money, it grew with interest and others...   or should I leave it and visit one a year and cash out the interest in cash, converting to euros and flying back ?  3% cost of sending out my own money, on several million baht... it adds up... start to sound like real estate that steals 3% for showing your house/condo to some people...