Thai Banks To Face Rigorous Compliance Regulations Starting June

[Dogmatix]

The OP doesn't mention what is new.  Thai banks have had due diligence in place for new accounts for many years already.

[NanLaew]

20 hours ago, sandyf said:

I just opened the account online using the website. I did get the phone app sometine later but never use it, do everything on the website.

The card is very handy, I use it a great deal when travelling.

 

Excellent, thanks. I opened a Revolut account online last year, and it is all app-driven but does the job.

[NanLaew]

19 hours ago, FritsSikkink said:

It is illegal to use crypto to pay bills, you are only allowed to trade with it.

 

Correct, the gai-yang seller is trading in Isaan BBQ chicken sales

[Karlik Pu]

Visa, Mastercard and American Express announced  in March 2022 that they will suspend all operations in Russia and any transactions abroad for russian holders of Visa and MC in protest of Puti-Russia  iinvasion of Ukraine.

 

Now its time even for Thai banks to follow and join American / Western sanctions  against Russia and stop opening accounts and Visa and Master Card for holders of russian passport in Thailand .

 

The new American law signed by President Biden in April 2024 makes it unlawful for any foreign  companies , banks or individuals to help  russians to avoid sanctipns  and US can impose  additional sanctions against a wide range of foreign individuals , banks  and other entities/companies, dealing with Russia .

Thai banks seem to be smart  enough:))

[bristolgeoff]

I think banks are very tuff allready to open one.anything u need to do thai or farang id card or passport.The powers above also watch what goes in and goes out.They know everything pretty much.

    A old man i met in cnx was in vietnam before and lived there.kept a low profile really but the locals said he was ok said  walls have ears. so everyone knew him. and said be careful.Thailand is no different and someone is always looking.Banks will be looking harder it seems soon

[rickudon]

My first bank account was easy enough on a visa exempt back in 2010. Next .... not so. Had marriage visa, but first 2 banks flay refused. Third attempt sweet talked the bank clerk and got it.

Next attempt (same bank!) for a fixed deposit took 3 visits, a Thai guarantor (wife not good enough?) and took over an hour. Next account ata different branch a lot easier but still took nearly an hour. Just no consistency.

[sandyf]

On 5/13/2024 at 8:30 AM, BigBruv said:

No it wasn't

Have you ever been there???

Only a certain mentality would consider I made the post without first hand experience.

[sandyf]

On 5/13/2024 at 8:30 AM, BigBruv said:

The US who? Joe Biden? If not, WHO?

Also what's your source?

 

Obviously you are not old enough to be aware chip & pin was introduced in the UK around 2003 and fully implemented by 2006, due to public reluctance and paranoia the US was 9 years behind the UK.

[BigBruv]

On 5/13/2024 at 2:43 AM, sandyf said:

 

Conspiracy theories are far more dangerous than regulation.

 

 

 

This boomer brained comment alone marks you out as a text book dupe.

 

Overly trusting of authorities - despite the events of the last 4 years.

Please make sure you are fully up to date with your boosters.

Mask would also help so we can identify your type.

 

Good luck - you need it 👍

 

[Dogmatix]

Curiously useless to say there will be stringent new regulations in about a week's time without saying what they are. 

[GarciaThom]

Thai banks are about to face some pretty intense new regulations! I think it’s going to shake things up for them. It’s good that they’re tightening up, but I wonder how the banks will handle all the extra work. I guess it could lead to changes in how we access services or even how they do business in general. On the flip side, this could also improve security and transparency, which would be a win for customers. If you want to keep up with how this all plays out, I’d check extractor.live for updates. It’s a good place to follow the latest news and regulations.

[NanLaew]

On 5/11/2024 at 12:56 PM, BritScot said:

Sorry to disappoint but in the UK digital is stuttering as people have started to revert back to cash. 

 

Wasn't my recent experience at Lidl or Asda in Accrington where I was the only one fumbling for cash while everyone else did that 'touch and go' malarkey with their plastic or phones.