Thai Banks New Rule

[chickenslegs]

My wife and I have a joint bank account in the Uk and one here with Siam Commercial Bank.

For the past 6+ years we have popped into the SCB at the beginning of each month and transferred from the Uk enough money for the month ahead.

Yesterday we visited the SCB and I presented my debit card, only to be told that the maximum for an international transfer on a debit card is now 20,000 THB in a single day. "New rule from head office" said the cashier.

(Apparently, larger transfers are permitted with a credit card, but I have never needed one here so I don't have one).

Our monthly expenditure varies, but that would mean anything between 3 and 6 visits to the bank in order to get the money transferred across.

"No problem" said the cashier "you can use the ATM". Hmm.

Luckily, I decided a long time ago that the best way to deal with these sort of situations is to smile and get a second opinion.

So we went to a different SCB branch (one we have used before for transfers from the Uk) but with the same result.

I decided to open an account with another bank but; Kasikorn, same rule; Bangkok Bank, same rule; Krungthai, same rule.

Eventually we found that the Bank of Ayudhaya (yellow bank) will permit larger transfers, so we opened an account there.

But it doesn't end there. We opened a joint account and I handed over 250 THB for (what I thought would be) two ATM cards. No – only one ATM card is permitted for each account.

So, my reason for posting – I'm assuming that I am not the only tv member who likes to make regular international transfers of more than 20,000 THB using a debit card – does anyone know of a Thai bank which will permit larger transfers AND allow each of the holders of a joint account to have their very own ATM card?

And – anyone hazard a guess as to why this daft rule has been brought in?

Edited December 1, 2009 by chickenslegs

[Maejo Man]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

[chickenslegs]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

Unfortunately my Uk bank doesn't permit international transfers online (Barclays). I know there are some Uk banks who do, but I'm loathe to change banks after 45 years with the same branch. And it would require a trip to the Uk to do so.

But thanks for the suggestion.

[Aachen]

Ask them whether you can make an arragement to make it by FAX with your signature. With me it worked... Now I use the Credit Card Solution...

[Lite Beer]

Moved to banking forum.

[PattayaParent]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

Unfortunately my Uk bank doesn't permit international transfers online (Barclays). I know there are some Uk banks who do, but I'm loathe to change banks after 45 years with the same branch. And it would require a trip to the Uk to do so.

But thanks for the suggestion.

You can open a bank account with most High St. banks and Building Societies online from Thailand.

[PattayaParent]

And – anyone hazard a guess as to why this daft rule has been brought in?

Liquidity problems with UK banks following the Dubai crisis?

Maybe the Thai banks are afraid they won't get the money back if they give out too much?

[barryofthailand]

Get skype on your computer, and call your bank in the UK to initiate the transfer. The call with skype should be free as long as your bank has an 800 number which most banks do.

Barry

[khunjake]

Maybe this new rule has been handed down by the BOT to try to stem strength in the Baht?

If this is the case then using an ATM would be better since you can get at least 25000 at most of them and no need to cough up the passport and wait in queue for the counter to take you. I am wondering if this new rule is imposed for all Int'l Debit Cards? SCB in my neck of the woods would allowed up to 250000 THB withdraw a day actually. Haven't tried recently but might tomorrow.

[Mali1964]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

Unfortunately my Uk bank doesn't permit international transfers online (Barclays). I know there are some Uk banks who do, but I'm loathe to change banks after 45 years with the same branch. And it would require a trip to the Uk to do so.

But thanks for the suggestion.

Barclays allowed me a £5000 transfer by using their central call centre whilst in Thailand 2 years ago maybe things have changed, worth a call though you will have to set up security passwords etc first if you haven't already.

[tonititan]

Hmm, what a strange rule! Do you think there's anyway they misunderstood? Perhaps they thought that you wanted to withdraw money (and then the limit often IS 20,000/day)? Like someone said, maybe it does have to do with the debit card involvement. Maybe they consider a transfer from your debit card the same thing as a withdrawal using your debit card?

I use Bangkok Bank, and make monthly transfers over 20,000 baht. I just did it last week, no problem. So I don't really understand what's going on here. But, I do it differently. I just fill out a form (which the HR person at my job assists with) and indicate how much I want transferred. The money goes direct from my Thai account to my foreign account. No debit card involved. Unfortunately I've never gone into the bank to do a transfer in person, so I can't give advice in that area. But maybe you could figure out how to set up a transfer that way, without the use of a debit card?

I hope you figure it out! I really don't believe that there is a rule against transferring more than 20,000 baht/day! The transfer fees alone would kill you.

[Mali1964]

Hmm, what a strange rule! Do you think there's anyway they misunderstood? Perhaps they thought that you wanted to withdraw money (and then the limit often IS 20,000/day)? Like someone said, maybe it does have to do with the debit card involvement. Maybe they consider a transfer from your debit card the same thing as a withdrawal using your debit card?

I use Bangkok Bank, and make monthly transfers over 20,000 baht. I just did it last week, no problem. So I don't really understand what's going on here. But, I do it differently. I just fill out a form (which the HR person at my job assists with) and indicate how much I want transferred. The money goes direct from my Thai account to my foreign account. No debit card involved. Unfortunately I've never gone into the bank to do a transfer in person, so I can't give advice in that area. But maybe you could figure out how to set up a transfer that way, without the use of a debit card?

I hope you figure it out! I really don't believe that there is a rule against transferring more than 20,000 baht/day! The transfer fees alone would kill you.

He's transferring in not out of Thailand.

[tonititan]

Oops! I KNEW something sounded fishy.

[neverdie]

Sorry, now I understand.

Edited December 2, 2009 by neverdie

[ianguygil]

I strongly doubt that this is a new rule from the BOT. It is either a new SCB rule or something to do with a new limit set on your card by your bank.

Please go to a Bangkok Bank ATM and try it there. Should be 20,000 Baht per withdrawal limit, but you can make several withdrawals.

[barryofthailand]

I bank with SCB, and you can ask for a higher limit on your daily withdrawals. I can withdraw 100,000 Baht per day.

Barry

[mijan24]

Seems unusual, Vis net bank i have just transferred Aust 20,000 into my scb account and then withdrew 100000 baht.

[alfieconn]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

Unfortunately my Uk bank doesn't permit international transfers online (Barclays). I know there are some Uk banks who do, but I'm loathe to change banks after 45 years with the same branch. And it would require a trip to the Uk to do so.

But thanks for the suggestion.

I know it doesn't help you now but i think you will find that from the beginning of next year,you will be able to make an international payment with Barclays online banking.

[chickenslegs]

Ask them whether you can make an arragement to make it by FAX with your signature. With me it worked... Now I use the Credit Card Solution...

Thanks for the suggestion. I'll be getting in touch with Barclays to see what they can do. I've thought about the credit card option but that would be a last resort for me.

[chickenslegs]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

Unfortunately my Uk bank doesn't permit international transfers online (Barclays). I know there are some Uk banks who do, but I'm loathe to change banks after 45 years with the same branch. And it would require a trip to the Uk to do so.

But thanks for the suggestion.

You can open a bank account with most High St. banks and Building Societies online from Thailand.

Barclays have been very helpful to me over the years and especially when I moved out here, so I don't want to change unless it's really necessary - I suppose I could open an account with another bank (one that permits international transfers online) then do a series of transfers each month.

Thanks for your input.

[chickenslegs]

Get skype on your computer, and call your bank in the UK to initiate the transfer. The call with skype should be free as long as your bank has an 800 number which most banks do.

Barry

Good suggestion, thanks.

But I'm looking for a solution that would be easy for my wife as well. Her English is pretty good but she is not confident speaking English to a stranger on the telephone. When she has needed to contact Barclays to reinstate her card (occasionally it gets frozen for a security check) she has found it difficult to understand the security questions.

Most of the time we are together and I can help, but that won't always be the case.

[chickenslegs]

Barclays allowed me a £5000 transfer by using their central call centre whilst in Thailand 2 years ago maybe things have changed, worth a call though you will have to set up security passwords etc first if you haven't already.

Thanks for the suggestion.

As I said in a reply above, I need a solution that would be easy for my wife too.

For the past 6+ years we have simply walked into the SCB with a debit card once a month and walked out 5 mins later, job done.

[chickenslegs]

I strongly doubt that this is a new rule from the BOT. It is either a new SCB rule or something to do with a new limit set on your card by your bank.

Please go to a Bangkok Bank ATM and try it there. Should be 20,000 Baht per withdrawal limit, but you can make several withdrawals.

No limit set by my Uk bank (at least none that I know of, as I have transferred up to 500,000 THB using my debit card in the past).

We called in at a branch of the Bangkok Bank with the intention of opening a new account there, but we were told they had the same rule - maximum 20,000 THB international transfer with a debit card.

The cashiers at each bank told us this was a new rule from head office.

[chickenslegs]

I bank with SCB, and you can ask for a higher limit on your daily withdrawals. I can withdraw 100,000 Baht per day.

Barry

My withdrawal limit with SCB isn't a problem.

I was trying to transfer money INTO our SCB account from Barclays Uk using a debit card.

Seems odd to me that they would want to put a limit on how much I can put into an account.

[chickenslegs]

Seems unusual, Vis net bank i have just transferred Aust 20,000 into my scb account and then withdrew 100000 baht.

We also found that Bank of Ayudhaya will accept larger international transfers.

Problem with BoA is that they will only permit us to have one ATM card, even though it's a joint account, which isn't very practical.

[chickenslegs]

I know it doesn't help you now but i think you will find that from the beginning of next year,you will be able to make an international payment with Barclays online banking.

This is very good news and will save us a lot of trouble in the future.

I'll try to get some confirmation from Barclays.

Thanks for your reply.

[ianguygil]

Please let me check and I will get back tomorrow. I know there has been some fraud as most Thai ATMs are not Chip enabled, but such a large drop in limit is unusual. I travel abroad often, and use by Bualuang Premier ATM card often, and the limit is that set by the Bank issuing the card of 150,000 THB per day. That limit can be lowered at the request of the customer.

I realize that is back to front from from your situation (I use a Thai ATM card in other countries). As I said I will check with out HO and get back to you tomorrow to see if there has been a major change. Thanks

Edited December 2, 2009 by ianguygil

[chickenslegs]

Please let me check and I will get back tomorrow. I know there has been some fraud as most Thai ATMs are not Chip enabled, but such a large drop in limit is unusual. I travel abroad often, and use by Bualuang Premier ATM card often, and the limit is that set by the Bank issuing the card of 150,000 THB per day. That limit can be lowered at the request of the customer.

I realize that is back to front from from your situation (I use a Thai ATM card in other countries). As I said I will check with out HO and get back to you tomorrow to see if there has been a major change. Thanks

Thanks for your interest.

Just to clarify - this isn't a problem with using our Uk debit cards at ATM's in Thailand as nothing has changed there.

Nor is it a problem with my Uk bank. We use debit cards and the only restriction placed on bank-to-bank transfers is the available funds in the account. Nothing has changed there.

The problem is that the SCB (and others) have decided to place a limit of 20,000 THB per day on the transfers. This limit did not exist in early November when I transferred a much larger sum from our Uk account to the SCB.

Ayudhaya bank will transfer larger amounts but will only allow us one ATM card with a joint account.

So, I'm looking for a Thai bank which will allow us to transfer larger amounts (say up to 120,000 THB) AND will give each holder of the account an ATM card of their own.

Reason for edit - grammar

Edited December 2, 2009 by chickenslegs

[hansnl]

I presume you have online facilities with your bank in the UK? Just initiate the transfer from the UK to your Thai account at SCB. Minimal cost and is in your account in a few days.

Unfortunately my Uk bank doesn't permit international transfers online (Barclays). I know there are some Uk banks who do, but I'm loathe to change banks after 45 years with the same branch. And it would require a trip to the Uk to do so.

But thanks for the suggestion.

Not on line, but most certainly by fax

[RickBradford]

Most UK banks will transfer money overseas under an indemnity scheme.

You sign a document in your UK bank branch (have to do face-to-face), authorising your bank to send money overseas on receipt of a signed fax from you, and a subsequent callback by the bank to a phone number you supplied them with at the face-to-face meeting.

The 'indemnity' means that if someone else who knows about this arrangement sends a fax to the bank in your name, and has access to your designated phone to confirm the transfer on the callback, the bank won't be held responsible if the money goes somewhere other than where you were expecting.

I can't speak with authority about Barclays, but I think it's likely they would do this.