Thai Banks New Rule

[endure]

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

Will they allow you to draw more than 20,000bt in cash using your debit card and passport and then pay it into your SCB account (rather than transfer it) or is the restriction on all

methods of withdrawal/transfer over the counter?

[endure]

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.

You'll find it very difficult to open an account with a UK bank/BS unless you're resident in the UK.

[emsfeld]

Could you please confirm for me what the issue is about? Call me stupid, but I really don't understand what

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.

your Thai debit card has to do with international transfers from your UK account to a Thai account. Do you mean,

a) you transferred, say, 100,000THB worth of GBP from UK to TH and the SCB told you that you can't withdraw more than 20,000THB a day because the funds came from foreign origin (that would sound very strange)?

the withdrawal limit now is 20,000 THB on a Thai debit card?

c) you are allowed to transfer 20,000 THB only per day into a Thai bank account when the funds originate from overseas?

d) ??

Would really appreciate if you could clarify that for me.

Cheers

emsfeld

Edited December 2, 2009 by emsfeld

[citizen33]

Going off at a slight tangent, and assuming you may have to move to arrange international transfers from your UK bank at regular intervals, I'm not sure that this is the cheap option an earlier poster suggested. From memory, most UK banks charge about £18 a time. I have a Barclays account among others and they are not one of the cheaper banks for this. The current best deal is Halifax/RBS at £9.00 per transaction for online international transfers. There is also a nominal charge at the Thai end to consider, assuming you get the funds transferred in sterling. If you pay £1000 plus per month into a Halifax Reward account (say via online transfer from Barclays) they give you £5, which helps towards the cost of the international transfer. The problem is opening such an account from abroad. You can create an account online in five minutes, but Halifax will then write to you at your specified UK address asking you to send proof of identity. I think this process could be managed through a relative or friend without too much trouble. Overall though transferring money this way isn't necessarily much cheaper than paying the ATM fee.

Edited December 2, 2009 by citizen33

[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

Will they allow you to draw more than 20,000bt in cash using your debit card and passport and then pay it into your SCB account (rather than transfer it) or is the restriction on all

methods of withdrawal/transfer over the counter?

The restriction is on drawing more than 20,000 per day using a debit card - by any method.

[chickenslegs]

Could you please confirm for me what the issue is about? Call me stupid, but I really don't understand what

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.

your Thai debit card has to do with international transfers from your UK account to a Thai account. Do you mean,

a) you transferred, say, 100,000THB worth of GBP from UK to TH and the SCB told you that you can't withdraw more than 20,000THB a day because the funds came from foreign origin (that would sound very strange)?

the withdrawal limit now is 20,000 THB on a Thai debit card?

c) you are allowed to transfer 20,000 THB only per day into a Thai bank account when the funds originate from overseas?

d) ??

Would really appreciate if you could clarify that for me.

Cheers

emsfeld

Sorry if I have not made myself clear.

At the beginning of each month we call into the SCB and use our Barclays Uk debit card to transfer money from our Barclays Uk account to our SCB account, so that we don't need to use our Barclays debit cards for purchases or cash withdrawals here.

Then we use our SCB account for purchases/cash throughout the month.

We are happy with our daily ATM withdrawal limits (both banks).

We have been transferring anything between 60,000 and 120,000 THB each month for 6+ years, but now the SCB says the limit is 20,000 for debit cards.

[emsfeld]

Thanks for the clarification. I guess there might be delays in clearing the funds between SCB and Barclays and given the Dubai debacle SCB might be getting cold feet. That would at least explain why there is no such restriction on credit cards as Visa or Mastercard would have to come up for the bill (in the worst case scenario) if funds weren't cleared.

[chickenslegs]

Going off at a slight tangent, and assuming you may have to move to arrange international transfers from your UK bank at regular intervals, I'm not sure that this is the cheap option an earlier poster suggested. From memory, most UK banks charge about £18 a time. I have a Barclays account among others and they are not one of the cheaper banks for this. The current best deal is Halifax/RBS at £9.00 per transaction for online international transfers. There is also a nominal charge at the Thai end to consider, assuming you get the funds transferred in sterling. If you pay £1000 plus per month into a Halifax Reward account (say via online transfer from Barclays) they give you £5, which helps towards the cost of the international transfer. The problem is opening such an account from abroad. You can create an account online in five minutes, but Halifax will then write to you at your specified UK address asking you to send proof of identity. I think this process could be managed through a relative or friend without too much trouble. Overall though transferring money this way isn't necessarily much cheaper than paying the ATM fee.

Thanks for your interest.

I have looked at the possibility of opening a Halifax Reward account, which would probably save me £30-50 a month.

Problem is that you need to be a Uk resident AND be registered to vote in the Uk. I am neither of these, nor is my wife (Thai).

Just for clarity, I am a Uk citizen born and bred. My wife is Thai and we spent quite a few years in the Uk as a married couple before retiring to Thailand - which is how we come to have a joint account with a Uk bank.

Similar rules apply to Nationwide and other banks/building societies.

To be honest, the £30-50 a month (whilst I would rather spend it on something else) has been worthwhile, as we have had instant access to our money without any hassle and in a way that has been very easy for my wife (ie- no phone calls/faxes in English).

If, as another poster suggested, Barclays are soon to permit online international transfers, our problems are over.

In the meantime, we are looking for a Thai bank that will permit larger transfers from our Uk account AND let us have one ATM card EACH for a joint account.

Thanks again, all ideas are appreciated.

Edited December 2, 2009 by chickenslegs

[chickenslegs]

Thanks for the clarification. I guess there might be delays in clearing the funds between SCB and Barclays and given the Dubai debacle SCB might be getting cold feet. That would at least explain why there is no such restriction on credit cards as Visa or Mastercard would have to come up for the bill (in the worst case scenario) if funds weren't cleared.

Ah. This at least explains why Debit and credit cards are treated differently.

But what is the 'Dubai debacle' - 'scuse my iggorance?

[emsfeld]

Just assuming also. With Dubai's sovereign wealth fund more or less defaulting Nov 26th (well they call it restructuring and are asking for more time to repay their interest on debts) and UK banks reportedly having large exposures to Dubai, Thai banks may be hesitant to cash advance the amount you are asking for (fearing that Barclay's may be short of cash). Dunno also - maybe they just wanna squeeze a few more Baht out of you. Very likely as well

Edited December 2, 2009 by emsfeld

[chickenslegs]

Just assuming also. With Dubai's sovereign wealth fund more or less defaulting Nov 26th (well they call it restructuring and are asking for more time to repay their interest on debts) and UK banks reportedly having large exposures to Dubai, Thai banks may be hesitant to cash advance the amount you are asking for (fearing that Barclay's may be short of cash). Dunno also - maybe they just wanna squeeze a few more Baht out of you. Very likely as well

I suppose that if we had to use ATM's for all our transfers SCB might gain 150 - 900THB per month in transaction fees. But, surely, this is chump change to a large bank.

Anyway, I'm still hoping someone will name a Thai bank that lets them transfer up to 120,000 THB in one session (actually I'd be happy with half that) AND lets them have two ATM cards for a joint account.

[chickenslegs]

I just want to add that when my post was moved from General Topics to Jobs,economy, banking, etc. I thought that would be the kiss of death.

Thanks to everyone who has taken the trouble to reply. You have given me a lot of good suggestions, some of which I can use now and some which may be more useful when I go back to the Uk (holiday only) and sit down with my personal banker (not rhyming slang) at Barclays.

[emsfeld]

Just assuming also. With Dubai's sovereign wealth fund more or less defaulting Nov 26th (well they call it restructuring and are asking for more time to repay their interest on debts) and UK banks reportedly having large exposures to Dubai, Thai banks may be hesitant to cash advance the amount you are asking for (fearing that Barclay's may be short of cash). Dunno also - maybe they just wanna squeeze a few more Baht out of you. Very likely as well

I suppose that if we had to use ATM's for all our transfers SCB might gain 150 - 900THB per month in transaction fees. But, surely, this is chump change to a large bank.

Anyway, I'm still hoping someone will name a Thai bank that lets them transfer up to 120,000 THB in one session (actually I'd be happy with half that) AND lets them have two ATM cards for a joint account.

Yes, but you might not be the only one. Small sums in large numbers add up.

[ianguygil]

I checked in the Bank (BBL) and the card limit for Debit cards is 50,000 Baht on an ATM. The machine limits to 20,000 THB per transaction, but you can do multiple transactions up to the daily limit.

If you use an ATM card the limit can be much higher

I hope this helps.

Going off at a slight tangent, and assuming you may have to move to arrange international transfers from your UK bank at regular intervals, I'm not sure that this is the cheap option an earlier poster suggested. From memory, most UK banks charge about £18 a time. I have a Barclays account among others and they are not one of the cheaper banks for this. The current best deal is Halifax/RBS at £9.00 per transaction for online international transfers. There is also a nominal charge at the Thai end to consider, assuming you get the funds transferred in sterling. If you pay £1000 plus per month into a Halifax Reward account (say via online transfer from Barclays) they give you £5, which helps towards the cost of the international transfer. The problem is opening such an account from abroad. You can create an account online in five minutes, but Halifax will then write to you at your specified UK address asking you to send proof of identity. I think this process could be managed through a relative or friend without too much trouble. Overall though transferring money this way isn't necessarily much cheaper than paying the ATM fee.

Thanks for your interest.

I have looked at the possibility of opening a Halifax Reward account, which would probably save me £30-50 a month.

Problem is that you need to be a Uk resident AND be registered to vote in the Uk. I am neither of these, nor is my wife (Thai).

Just for clarity, I am a Uk citizen born and bred. My wife is Thai and we spent quite a few years in the Uk as a married couple before retiring to Thailand - which is how we come to have a joint account with a Uk bank.

Similar rules apply to Nationwide and other banks/building societies.

To be honest, the £30-50 a month (whilst I would rather spend it on something else) has been worthwhile, as we have had instant access to our money without any hassle and in a way that has been very easy for my wife (ie- no phone calls/faxes in English).

If, as another poster suggested, Barclays are soon to permit online international transfers, our problems are over.

In the meantime, we are looking for a Thai bank that will permit larger transfers from our Uk account AND let us have one ATM card EACH for a joint account.

Thanks again, all ideas are appreciated.

[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.

Got this reply from Barclays Uk today (in answer to my question "are there any plans to allow Barclays customers to make international payments/transfers online?")

Thank you for your email dated 2/12/09.

We would like to advise that this is a feature that we are looking to introduce to the Online Banking service however we are unable to provide

any time scales as when this may be implemented.

We trust this information is of assistance.

Yours sincerely,

Michelle O'Dowd

Barclays Online Banking

[chickenslegs]

I checked in the Bank (BBL) and the card limit for Debit cards is 50,000 Baht on an ATM. The machine limits to 20,000 THB per transaction, but you can do multiple transactions up to the daily limit.

If you use an ATM card the limit can be much higher

I hope this helps.

Thanks again.

We visited a branch of the Bangkok Bank on 1.12.09 with the intention of opening a joint account, but we were told by a member of staff there that they had the same 20,000 limit.

Ok - we'll try again next week. Also, the thought crosses my mind that if we try the SCB again next week they may have changed their rule again.

In the meantime, a glimmer of hope from Barclays Uk (as posted above).

[emsfeld]

Another option would be for you to sign up to paypal, then top up your paypal account from your Barclay's account and then transfer the funds from paypal to your SCB account. This way you'd get around the problem of Barclay's not offering international transfers online. I think the only disadvantage you'd have would be a slightly worse paypal exchange rate - which might in turn be offset by you not having to pay any Barclay international transfer commission fees. You probably only would incur fees for the last lag of the transaction - from your UK denominated paypal account into a Thai Bank account.

Edited December 3, 2009 by emsfeld

[torrenova]

OK, it seems Barclays has no presence in Thailand except Barclays Capital. If it had, then that would be the place to go.

I do not believe that Barclays cannot initiate a SWIFT transfer from the UK to the Thai account. Always sent in THB though. That would solve the problem. I think it might need a fax each month but you could do that with Pam Fax through Skype or even through the receiving bank.

The solution is not to look to the quaint but strange use of a debit card to initiate the transfer but rather to look to the method which should have been set up in the first place.

[LivinLOS]

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 have Barclays and transfer internationally online all the time.. 20k GBP per transfer is my online limit (can do multiples in a day).. unlimited with the fax instructions system.

[ianguygil]

The numbers I gave are definitely the facts as I checked with the people who run our Product group. When you go to the branch, if you get different information please send me a private message and I will help to put you in touch with theright people. I obviously won't give out my contact details on the forum. Or you can post your email and I will contact you. Thanks

I checked in the Bank (BBL) and the card limit for Debit cards is 50,000 Baht on an ATM. The machine limits to 20,000 THB per transaction, but you can do multiple transactions up to the daily limit.

If you use an ATM card the limit can be much higher

I hope this helps.

Thanks again.

We visited a branch of the Bangkok Bank on 1.12.09 with the intention of opening a joint account, but we were told by a member of staff there that they had the same 20,000 limit.

Ok - we'll try again next week. Also, the thought crosses my mind that if we try the SCB again next week they may have changed their rule again.

In the meantime, a glimmer of hope from Barclays Uk (as posted above).

Edited December 4, 2009 by ianguygil

[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.

I have Barclays and transfer internationally online all the time.. 20k GBP per transfer is my online limit (can do multiples in a day).. unlimited with the fax instructions system.

If you look at post 45 you can see the reply I got from Barclays just yesterday.

Maybe you are a Barclays 'Wealth' account holder or use Barclays offshore?

[chickenslegs]

The numbers I gave are definitely the facts as I checked with the people who run our Product group. When you go to the branch, if you get different information please send me a private message and I will help to put you in touch with theright people. I obviously won't give out my contact details on the forum. Or you can post your email and I will contact you. Thanks

I checked in the Bank (BBL) and the card limit for Debit cards is 50,000 Baht on an ATM. The machine limits to 20,000 THB per transaction, but you can do multiple transactions up to the daily limit.

If you use an ATM card the limit can be much higher

I hope this helps.

Thanks again.

We visited a branch of the Bangkok Bank on 1.12.09 with the intention of opening a joint account, but we were told by a member of staff there that they had the same 20,000 limit.

Ok - we'll try again next week. Also, the thought crosses my mind that if we try the SCB again next week they may have changed their rule again.

In the meantime, a glimmer of hope from Barclays Uk (as posted above).

Ok - I realise now that you are talking about a 50,000THB limit on ATM withdrawals per day.

What I am really looking for is a bank that will let me use a debit card over the counter to transfer between 60,000 and 120,000THB in a single transaction.

My Uk bank daily ATM withdrawal limit is about 20,000THB. I do not want to increase it.

My Uk bank places no daily limit on a bank to bank transfer (just up to the available funds).

Again, thanks for your help.

[chickenslegs]

OK, it seems Barclays has no presence in Thailand except Barclays Capital. If it had, then that would be the place to go.

I do not believe that Barclays cannot initiate a SWIFT transfer from the UK to the Thai account. Always sent in THB though. That would solve the problem. I think it might need a fax each month but you could do that with Pam Fax through Skype or even through the receiving bank.

The solution is not to look to the quaint but strange use of a debit card to initiate the transfer but rather to look to the method which should have been set up in the first place.

As I've mentioned a couple of times, I need to have something in place which is very easy to use for my wife (no phone calls or fax's in English).

Until the rules changed it was an absolute doddle for her to sit at the desk in the SCB and hand over her Uk debit card, Thai ID card and Thai bank book, tell the teller the amount we needed, wait a couple of minutes, sign the slip, and walk out.

Yes, it costs a few pounds a month in Uk bank charges, but it was as hassle-free as it gets.

Quaint - as a lace doily. But also easy and effective.

Your suggestion is appreciated, but probably not the solution for us - Thanks.

Edited December 4, 2009 by chickenslegs

[chickenslegs]

Another option would be for you to sign up to paypal, then top up your paypal account from your Barclay's account and then transfer the funds from paypal to your SCB account. This way you'd get around the problem of Barclay's not offering international transfers online. I think the only disadvantage you'd have would be a slightly worse paypal exchange rate - which might in turn be offset by you not having to pay any Barclay international transfer commission fees. You probably only would incur fees for the last lag of the transaction - from your UK denominated paypal account into a Thai Bank account.

This would work. But, I'm really trying to avoid multiple transactions.

As I've said before, my wife is Thai, we have joint accounts in the Uk and here. She would get stressed out at the thought of having to make phone calls, send fax's or use the internet just to draw some money from the Uk and put it into our Thai account.

If it was just for me there would be no problem, I can think of at least 4 options. But I will not always be here, so I need something that will be easy for her.

As I have said before. I am really looking for a Thai bank that will permit international bank-to-bank transfers of 60,000 to 120,000THB in a single transaction AND that will give each of the joint account holders their own ATM card.

This is what we had at the SCB until they decided to change their rules.

Thank you for your suggestion though - and thanks to everyone else who has taken the trouble to try and help.

[LivinLOS]

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 have Barclays and transfer internationally online all the time.. 20k GBP per transfer is my online limit (can do multiples in a day).. unlimited with the fax instructions system.

If you look at post 45 you can see the reply I got from Barclays just yesterday.

Maybe you are a Barclays 'Wealth' account holder or use Barclays offshore?

Yes its Barclays wealth..

[LaoPo]

To me it's odd.

The UK/London has one of the largest financial centers in the world and one cannot transfer money abroad ? (apart from you LivinLos, having Barclays wealth).

In The Netherlands everybody can transfer, via internet banking, many different currencies to almost any place in the world.

I'm doing so since many years and before internet there were simple documents.

If I wish to transfer Thai Baht, right now, it can be done straight away; Dollars to China ? no problem, same-same in Euro's.

Transferring AUD or NZ $'s abroad ? No problem.

What's wrong with you people/banks in the UK ?

Strange people (sorry: banks) those islanders.

LaoPo

[khunjake]

Until the rules changed it was an absolute doddle for her to sit at the desk in the SCB and hand over her Uk debit card, Thai ID card and Thai bank book, tell the teller the amount we needed, wait a couple of minutes, sign the slip, and walk out.

Does the debit card that you are using carry the VISA or MASTERCARD logo on it? This could be your problem as the VISA or MASTERCARD system can guarantee the transaction with SCB. Without either of those logos, then the risk shifts entirely to SCB without any recourse if the transaction is later reversed.

I was able to use my VISA debit card yesterday at SCB using an over-the-counter cash withdrawal and encountered no such denial or problem from "head-office" at SCB. Processed as usual with passport and signature slip. Transaction was done for much more than 20000 THB as well..

Edited December 5, 2009 by khunjake

[Langsuan Man]

khunjake where is your ATM card based ?

This thread has had me worried since the SCB "swipe" is what I have been using since Kaisikorn told me their "swipe" limit was 20,000 for my US based ATM card, at that time, SCB had no such restriction

[blacknight]

Chickenlegs I had the same problem as you when I was purchasing my new car in August. The money was all in my UK based Nationwide account and I found that the only bank that you can tranfser any large amount with via your debit card is bank of Auydhya (yellow signs).

This is the only bank in Thailand that allows me to withdraw up to 50000 bht from and exchange booth, or 100000 bht from a branch using my UK debit card and passport. There doesn't seem to be a daily limit as when I purchased my car I withdrew 600000 bht in one day from several branches using this method and nothing was ever said to me and no stops put on the account.

The other bank all range from 5000 to 25000 using this method of withdrawal.

[Screws]

I checked in the Bank (BBL) and the card limit for Debit cards is 50,000 Baht on an ATM. The machine limits to 20,000 THB per transaction, but you can do multiple transactions up to the daily limit.

BBL allows 25000 per withdrawal using an HSBC ATM card - but with 150 baht fee.

Aeon allows 40,000 per withdrawal - no fee.