3 minutes ago, NanLaew said:

 

Who's Klaus?

What stone have you been under...
Certainly never heard of the WEF either.

1 hour ago, KhunBENQ said:

Now I will have to pass a senility test??

It really becomes paranoid.

 

So far they presented some over simple test questions in the range of:

"Should you give your password/PIN to your girlfriend?" 

To be fair, my Singapore bank has imposed some extra controls over my accounts because I am a vulnerable person now that I am over 65.

 

And we have to remember that these controls aren’t really aimed at financially aware and alert foreigners and more at less financially aware elderly locals who certainly do get scammed at an alarming rate.

 

Of course there are also some financially deficient foreigners too, as evidenced by recent news stories.

 

So what to do 🤷‍♂️. There is no perfect answer but I guess this is something and it’s not out of the norm for what other countries do.

1 hour ago, KhunBENQ said:

Now I will have to pass a senility test??

It really becomes paranoid.

 

So far they presented some over simple test questions in the range of:

"Should you give your password/PIN to your girlfriend?" 

My mobile app throws a questionnaire at me from time to time. It's security based questions, like what you should do if you receive an SMS telling you that you won a prize and provides link to claim it, etc. Basic stuff that you would think everyone would know the right answers to, but... I'm sure not everyone passes.

13 minutes ago, GreasyFingers said:

And they want people to use the mobile apps when they know that they are not safe from fraud and hacking.

 

There's no evidence of banking apps being hacked. That's why banks globally have encouraged their customers to use their apps, moving away from the more unsafe and hackable web-based banking presence, and some shutting the latter down. For example NatWest International shuttered web-banking over five years ago, with everything migrated to their app. I recently opened an account with Chase in the UK that is TOTALLY based on the app, from the account opening application to doing transactions.

 

The use of the word "scammer" is too broad a brush and probably inappropriate here. A lot of Thai people have been rewarded for opening accounts for third parties or allowing their accounts to be used for money laundering or to funnel money overseas. That's simple fraud.

 

The foreign account holder is the low-hanging fruit here, it's simply collateral damage as Thailand's banking industry tries to put the genie back in the bottle.

26 minutes ago, Tubulat said:

That is what they are trying to make you believe, but who tells me that the numbers presented are true.
As mentioned above, it is beginning to look more and more like they are copying rules from those western states, perhaps all at Klaus' behest.

Agree, though you will get the normal posters tellling you to adjust your foil hat.  The WEF has just found Schwaub innocent of any wrongdoings, well they would wouldn't they. Meanwhile the two new co-chairman are Larry Fink, boss of Blackrock, and Andre Hoffman, vice chair of Roche Pharma. Looks like they are still going for total control, and banking is their starting point.

41 minutes ago, Tubulat said:

It's all a premeditated game

Highly possible, perhaps done to try to restrict a run on the banks if a crash were to happen?

15 minutes ago, Peterphuket said:

19 minutes ago, NanLaew said:

 

Who's Klaus?

What stone have you been under...
Certainly never heard of the WEF either.

 

A rude and unhelpful non-answer. But I wouldn't expect any less from a stress monkey.

 

Isn't that tinfoil hat getting a bit tight?

4 minutes ago, AhFarangJa said:

Agree, though you will get the normal posters tellling you to adjust your foil hat. ...  

 

Been there, done that.

 

Next...

1 hour ago, chang50 said:

Who else pines for the Prayut administration?

Absolutely not  .Look at the state of the nation after they left . It will take another decade for the nation to recover.

OMG.  What about transfers using the bank's web site? 

Thailand wants to be a destination for the well-heeled, but then wants to treat them like peasants. Got it. DAF.

1 hour ago, PB172111 said:

It’s a bit of a hassle for people like us, but for those who’ve been scammed, it’s a real nightmare. Like you, I often transfer large sums for things like bikes or holidays. The simplest and safest way is to go to the bank and get a banker’s cheque, which only costs 20 baht no matter the amount. Some might find it inconvenient, but it does give you peace of mind knowing your money is secure.

  

Two words; credit cards

55 minutes ago, NanLaew said:

 

Who's Klaus?

Klaus Schwab, founder of the "World Economic Forum" (WEF)

Stepped backed recently after accusation of personal wrongdoing.

Klaus Schwab and the WEF is the devil in the eyes of many,

A top target of conspiracy theories as well as reasonable criticism.

 

https://en.wikipedia.org/wiki/Klaus_Schwab

 

1 hour ago, Nickcage49 said:

They’re trying to drive all foreigners out of the country aren’t they? So fricking stupid.  Life here keeps getting harder. If someone is stupd enough to get scammed then they deserve what they get.

1. You're wrong.

2. I guess your saying your so smart it's impossible for you to be scammed. Are you sure about that? How can you be sure about that?

6 hours ago, webfact said:

Customers with positive financial histories remain unaffected

I hope, I hope, I hope! 

1 hour ago, mfd101 said:

Actually this is about millions of poor and uneducated or undereducated Thai people who don't know how to look after themselves in the modern high-tech universe.

 

The best thing they did to stop scamming was cracking down on the people doing the scams, like in Mynamar and apparently Cambodia. This is control-freak behavior. Bankers aren't cops.

 

19 minutes ago, KhunBENQ said:

Klaus Schwab, founder of the "World Economic Forum" (WEF)

Stepped backed recently after accusation of personal wrongdoing.

Klaus Schwab and the WEF is the devil in the eyes of many,

A top target of conspiracy theories as well as reasonable criticism.

 

https://en.wikipedia.org/wiki/Klaus_Schwab

 

 

Thanks, very helpful in understanding some of the panic merchants that post among us.

1 hour ago, NanLaew said:

 

There's no evidence of banking apps being hacked. That's why banks globally have encouraged their customers to use their apps, moving away from the more unsafe and hackable web-based banking presence, and some shutting the latter down. For example NatWest International shuttered web-banking over five years ago, with everything migrated to their app. I recently opened an account with Chase in the UK that is TOTALLY based on the app, from the account opening application to doing transactions.

 

The use of the word "scammer" is too broad a brush and probably inappropriate here. A lot of Thai people have been rewarded for opening accounts for third parties or allowing their accounts to be used for money laundering or to funnel money overseas. That's simple fraud.

 

The foreign account holder is the low-hanging fruit here, it's simply collateral damage as Thailand's banking industry tries to put the genie back in the bottle.

You missed the fraud bit. All of these people are losing money through their apps. No apps, no money lost.

Can you do an AI search for me to tell me all of the people loosing money through the websites.

Thailand Tightens Mobile Banking to Curb Scams. 

 

Doesn't this confirm from what I said All this time that this is Proof that Mobile Banking Apps are NOT SECURE .

Hypocrites  that's what they are.

Does the new limit apply to using prompt pay for online purchases?

If so, then i see a potential problem.  Say I am trying to purchase an airline ticket from the official airline website.  This may well cost in excess of 50kTHB for a business ticket.  Having to visit your local branch to request an exemption is clearly not going to work unless things can be planned well in advance.  Trying to buy a ticket a short notice - and the prices do vary wildly over time - is not going to be easy.

1 hour ago, Showtime said:

OMG.  What about transfers using the bank's web site? 

Several large banks have shut down their websites and went to only mobile banking, ATMs, or in person bank visits.  Luckily Bangkok Bank is not one of them but I am still mad at them about having to lock up my 400,000 used to renew my Non-O visa extension for 4 months from the date I received my bank verification letter and not 4 months from when the account was funded (missed it by 3 weeks).  If account not funded with 400k+ 4 months prior to coming in for the letter, you have to sign an agreement to lock up the 400k for 4 months from the date they give you the letter for your extension submission or else no letter.  I'm going to have a Thai friend translate the agreement to see if I can get my money out once my extension stamp is in the passport.  You can't just lock up peoples money like this and expect them to remain customers.

1 hour ago, Showtime said:

OMG.  What about transfers using the bank's web site? 

KBIZ web site has no apparent limits other than exceeding one's current balance.

Strengthen protection with quality anti virus and data masking apps.

Had to change my daily limit recently but otherwise I am not directly affected as a retiree on annual extensions. The only past conflicts I might have encountered was buying the Ayrox @ 66,000 baht (plus my trade-in). Or the house downpayment of 600,000 baht. Pretty sure the bank would suggest a work around in the cases needing limit exceptions. Ha! a benefit of being poor, I suppose ... no large money movements (on the monthly income 65K brought in).

50 minutes ago, digger70 said:

Doesn't this confirm from what I said All this time that this is Proof that Mobile Banking Apps are NOT SECURE .

 

The apps are secure, the people using them are idiots. Maybe before someone is allowed to use the apps, they must first take a special course on how to use them responsibly. Sorta of like proper training for driving, before handing out a license like it's free candy. 

44 minutes ago, doctormann said:

Does the new limit apply to using prompt pay for online purchases?

If so, then i see a potential problem.  Say I am trying to purchase an airline ticket from the official airline website.  This may well cost in excess of 50kTHB for a business ticket.  Having to visit your local branch to request an exemption is clearly not going to work unless things can be planned well in advance.  Trying to buy a ticket a short notice - and the prices do vary wildly over time - is not going to be easy.

 

It looks like PromptPay and BillPay through SCB have no real limits, neither does transfers between accounts at SCB.

The only good thing about this totalitarian behaviour - it's still MY money! - is that it drives the people back to using cash and it educates them how important cash is for freedom.

I note the the Thai cryptocurrency exchange Bitkub has a policy that you can only deposit a minimum of THB 50,000/time. With the transfer fee this comes to THB 50,000.30. I can't make the deposit because it's over my daily maximum transfer allowance.

3 hours ago, KhunBENQ said:

Now I will have to pass a senility test??

It really becomes paranoid.

No, and it only applies currently to mobile transfer limits on new accounts.  Perhaps you should have to pass  reading test, though.

Well this proves how broken the banking system is, and not just in Thailand. 

3 hours ago, rwill said:

I'm sure the wealthy families get an exemption from all of this.

All get exemption from it on request to the bank, as the full BP article clearly states.