Future Uncertain for Retiree Bank Accounts in Thailand

[What to do now]

A lot to do about nothing. Like almost everything else in Thailand " Government proposes" , in the end it will have poor emplimentation & lack of effort. 

 They literally tell you to just do border runs in this article if you're opening a bank account for stay. Was there supposed to be a "crackdown" on multiple border runs to eliminate this? 😂 

[quake]

2 hours ago, kiwikeith said:

I would bet on cashless society in Thailand never happening, it would cause poverty and riots, imagine all the people with food stalls having to take phone payments, and the street vendors over all the roads in LOS, not to mention the brown bag donation scheme. and theres plenty more I haven't mentioned.

Will never happen

 

The cashless society is just a wet dream for the Thai government.

[pomchop]

24 minutes ago, What to do now said:

A lot to do about nothing. Like almost everything else in Thailand " Government proposes" , in the end it will have poor emplimentation & lack of effort. 

 They literally tell you to just do border runs in this article if you're opening a bank account for stay. Was there supposed to be a "crackdown" on multiple border runs to eliminate this? 😂 

Whoever decides to post these stories likely knows it will get a lot of views and is more concerned with the views than whether there is anything other than speculation being posted. 

 

Maybe the next stories will be something like:  "Baht bus fares proposed to go to 100 baht"  or  "Thai girls say they like old men with big wallets"  or   "Old men say Water buffaloes are wimpy sickly animals" or "No more pot on soi pot hole".
 

  If and when anything real ever happens that actually gets enforced then maybe take a look.  In the meantime, Don't worry be Happy.

[thrilled]

I’m just glad I got my account when I did. I’m surprised that people complain when their bank charges them 45 baht. Must mot have much money at all. At least not to me

[JamesPhuket10]

11 hours ago, lordgrinz said:

I use those QR codes with my SCB account, no fee.

 

Yes me too, I buy from Lazada via QR code with my Bangkok Bank and have done so for the last 28 months of being here and never a charge.

 

The only charge I ever get is 300 baht a year for the ATM card.

 

And they pay me interest on my deposit account. 

[JamesPhuket10]

11 hours ago, Robert_Smith said:

You a fan of track & trace then?

 

Cash is, and always will be, King.

 

Best regards,

Bob.

 

You are confused as to what cash is.

 

Buying big item goods with a credit card is a good idea as the credit company then has to guarantee the product you bought and issue you with a replacement if you can not get the replacement from the company for a damaged product. 

 

So if you use a credit card and have a direct debit to pay back the whole amount each month then that is also counted as cash, cash is not just paper money it is about how money flows. 

 

But keep on coming out with your funny comments as they make me laugh. 👍

 

And they make some others annoyed which is equally funny. 

[Dogmatix]

Seems like the problem is not targeting of foreigners but regulations that effect everyone opening a bank account due to the call centre scam problem where people are paid to open bank accounts to be used by scamsters.  In addition the masterminds behind most of the call centres and many of the workers are foreigners, mainly Chinese.  So it makes sense to be more strict about the type of visas foreigners have.  

 

I have been harassed by a call centre which was set up to sound exactly like a Thai police station.  They had all my personal details - full name, phone number, address, ID number, obviously sold to them by a Thai government department, mobile phone operator or other business.  

 

Call centres are scary stuff that scam people out of billions of dollars and abduct people to work in them involuntarily.  Tough measures are required to deal with them. 

[CLUBBER]

13 hours ago, gargamon said:

I've got a different take on this. It's the greedy banks who are losing out on all the money they could make if everyone had to use their foreign ATM cards with a 10k limit and a 250 baht penalty each time. They lobby the government to change the rules so people can't open an account and use wise, etc to bring in money where they get nothing. Damn the retirees, we don't care. We want money.

Absolutely spot on !

[Liverpool Lou]

4 hours ago, ronnie50 said:

8 hours ago, Liverpool Lou said:

BBL. Krungsri, UOB and KTB have the facility.

Wasn't it all to do with needing facial recognition on the App to transfer more than 50k? I seem to be able to still transfer more than that with the same old App (SCB) - no facial feature.

Yes, it was.   Can't speak for SCB facilities.

[Liverpool Lou]

3 hours ago, JensenZ said:

I can confirm that QR code payments are free with my K-Bank account.

They're free with every bank.

[Liverpool Lou]

3 hours ago, stoutfella said:

I'm in your camp. If you hand over folding you know exactly how much you are spending on each transaction

As you do with phone app payments also.

[JamesPhuket10]

9 minutes ago, Liverpool Lou said:

As you do with phone app payments also.

 

True and even better you can make a note for each transaction in the app stating what the payment was for which is there anytime to look back on. 

[JensenZ]

59 minutes ago, Liverpool Lou said:

They're free with every bank.

I'll confirm for the bank I use and won't speak for them all. The OP mentioned a 15-baht fee for a QR payment with the Bangkok Bank.

[JensenZ]

4 hours ago, stoutfella said:

I'm in your camp. If you hand over folding you know exactly how much you are spending on each transaction

I'm in the other camp. I prefer using cards and other electronic payments including QR over cash. It doesn't hurt as much and I have a record. I don't know why people have problems with using cards. I hardly touch cash these days and haven't for many years.

[Drumbuie]

13 hours ago, ravip said:

 

I thought as much.

But, why was the OP charged 15 Bhat for a 250 Bhat transaction?

Bangkok Bank deducts 15 baht from all its savings accounts every month. If OP checks the phone app,  he might find the words " Annual Fee" next to the 15 baht debit. 

 

[Fortean1]

13 hours ago, lordgrinz said:

I use those QR codes with my SCB account, no fee.

My SCB branch in Pran Buri (south of Hua Hin) says Joint account cannot be used to pay bills.

[George FmplesdaCosteedback]

Another misleading headline that is one step from click bait. The article is more to do with tourists than retirees and other expats.

[lordgrinz]

Just now, Fortean1 said:

My SCB branch in Pran Buri (south of Hua Hin) says Joint account cannot be used to pay bills.

 

I don't have a joint account, its my personal account. Mainly for immigration purposes, but I make several purchases every week using it too, and pay via QR codes often. Buy many items online through Lazada, and even purchased a business grade laptop from Lenovo using it. I've never had issues purchasing anything with my SCB account. They even gave me a debit card I can use that works similar to my WISE card for debit purchases while travelling domestic and international.

[George FmplesdaCosteedback]

14 hours ago, smedly said:

I am personally 100% against cashless - there is only one winner  and it ain't us. 

I totally agree. Anyone who doesn't know what Trudeao did to the striking lorry drivers in Canada should take the time to read about it. Going cashless is madness and will most definitely encourage an underground currency to emerge.

[ravip]

1 hour ago, Drumbuie said:

Bangkok Bank deducts 15 baht from all its savings accounts every month. If OP checks the phone app,  he might find the words " Annual Fee" next to the 15 baht debit. 

 

15 Baht every month? 

No. I haven't seen this in my BB savings account to date. 

[gamb00ler]

1 hour ago, Drumbuie said:

Bangkok Bank deducts 15 baht from all its savings accounts every month. If OP checks the phone app,  he might find the words " Annual Fee" next to the 15 baht debit. 

 

You're definitely mistaken as to the reason for the 15 ฿ debit from your account.  To determine what triggered the debit, request a statement covering the day where a 15 ฿ fee was deducted.  On your statement the date and time of each transaction is given including the minute.  Find the entry for the fee deduction.  Then find another transaction that occurred at the same time as the fee debit.  This transaction is the one that triggered the fee.

 

You can request a statement using your bank's phone app.

[Brick Top]

16 hours ago, ravip said:

 

I thought as much.

But, why was the OP charged 15 Bhat for a 250 Bhat transaction?

Maybe he was in a different province than were is bank account was opened , same as the 15 baht fee if you use an ATM outside the province , for example my bank account was opened 23 years ago in Phuket,  if a.make a withdrawal in say Krabi i am charged a 15 baht fee

[Old Croc]

16 hours ago, trainman34014 said:

Just a thought.  If you've been here for 15 years you should have had a Pink Card and House Yellow Book for many years already.  Amazing how many Farang can't seem to get their affairs in order !

Why, it seemed to be of little use up until this bank required it to open an account? Kasikorn Bank certainly didnt mention it all those years ago when I opened an account nor at any time in my dealings with them.

I've not needed the things previously, and I've bought and sold a number of properties, built houses, extended  my retirement visa many times before changing it to marriage.  I've found myself in hospitals several times and still make regular visits for ongong treatments. Now, living in the sticks my bills for blood tests and treatments at a government hospital are laughably low. 

Perhaps you could explain how having a little pink ID card and useless yellow house book would have enabled me to get "my affairs in order" before this latest tightening of bank regulations for foriegners, and how you decided I haven't previously done so.  Or was that just your petty, uncalled for attempt to insult? 

[kiwikeith]

15 hours ago, quake said:

 

The cashless society is just a wet dream for the Thai government.

Yep 

[baansgr]

16 hours ago, lordgrinz said:

 

I'm not changing my number, they'll have to accept things the way they are.

Good luck with that..if it's not in your name you won't be able to use it...you will just have to accept it

[lordgrinz]

4 minutes ago, baansgr said:

Good luck with that..if it's not in your name you won't be able to use it...you will just have to accept it

 

I've been using it for 7 years with my bank account, and it still works now, so balls in their court.

[baansgr]

Just now, lordgrinz said:

 

I've been using it for 7 years with my bank account, and it still works now, so balls in their court.

Ok, if you say so 👍 

[lordgrinz]

Just now, baansgr said:

Ok, if you say so 👍 

 

I do.....and it's been working fine. 

[scorecard]

23 hours ago, NoshowJones said:

Same with Krungthai bank.

 

And same for K (Kasikorn) Bank.

[MikeandDow]

21 hours ago, trainman34014 said:

Just a thought.  If you've been here for 15 years you should have had a Pink Card and House Yellow Book for many years already.  Amazing how many Farang can't seem to get their affairs in order !

What reason should you get a pink card or a yellow house book  both are useless not worth it