Its Happening - Law to Tax Overseas Income Now in Progress

[AbeSurd]

This question is about Thai baht accounts at Thai banks. I'm interested in particular in Siam Commercial Bank and Bangkok Bank.

What is the daily withdrawal limit using a Thai ATM card at an ATM machine in Thailand?

Thanks.

[AbeSurd]

Okay, I'll start to answer my own question.

I just asked the doorlady at my local SCB branch and, if I understood her correctly, she said 200,000 baht.

If true, I'm surprised it's that high. I was expecting it to be around 25,000 baht.

[Naam]

Okay, I'll start to answer my own question.

I just asked the doorlady at my local SCB branch and, if I understood her correctly, she said 200,000 baht.

If true, I'm surprised it's that high. I was expecting it to be around 25,000 baht.

maximum daily withdrawal limit Siam Commercial (my branch) is 400,000 Baht. but the limit has to be prearranged and agreed with the bank. if nothing was arranged then daily limit is 50,000 Baht.

[Wavefloater]

I believe it's automatically 20,000 but can be increased to larger amounts on request. I asked once and they were quite willing to increase it on the spot to 50,000. (That was at the Tuk Com, Pattaya branch.)

Edited August 8, 2013 by Wavefloater

[Pib]

Now the questions: Do you really want a high daily limit? Or just a daily limit that meets your typical/occasional cash withdrawal and purchasing needs.

What if your card is lost/skimmed/etc....used by bad guys (or even used by someone who you "thought" was your friend) to go on a spending spree and/or cash withdrawal spree? If/when something like that happens (hopefully never) a person will wish they had a lower daily limit.

[grantbkk]

Years ago when I opened my SCB savings account the ATM card limit had to match the limit you could transfer to another account. My limit was set at 200K a day. Never changed it and I do not know of the rule applies today. You have to take it out 20K at a time.

[AbeSurd]

Now the questions: Do you really want a high daily limit? Or just a daily limit that meets your typical/occasional cash withdrawal and purchasing needs.

What if your card is lost/skimmed/etc....used by bad guys (or even used by someone who you "thought" was your friend) to go on a spending spree and/or cash withdrawal spree? If/when something like that happens (hopefully never) a person will wish they had a lower daily limit.

The defence against that is to have two accounts and only one ATM card. The bulk of your money is kept in the account with no ATM card. You then transfer from it, for example, every week, to the account with the ATM card the amount you need for that week. So the balance on the account with the ATM card is always fairly low.

So I'm happy with the idea of a high withdrawal limit on the account with the ATM card.

[Pib]

Now the questions: Do you really want a high daily limit? Or just a daily limit that meets your typical/occasional cash withdrawal and purchasing needs.

What if your card is lost/skimmed/etc....used by bad guys (or even used by someone who you "thought" was your friend) to go on a spending spree and/or cash withdrawal spree? If/when something like that happens (hopefully never) a person will wish they had a lower daily limit.

The defence against that is to have two accounts and only one ATM card. The bulk of your money is kept in the account with no ATM card. You then transfer from it, for example, every week, to the account with the ATM card the amount you need for that week. So the balance on the account with the ATM card is always fairly low.

So I'm happy with the idea of a high withdrawal limit on the account with the ATM card.

Good point if you have two accounts. I've seen quite a few posts where folks follow this approach.

[thrilled]

It never hurts to have safe guards. Also A text sent to Your phone every time the ATM is used. Also when putting funds into the account.You can't never be to careful.

[moradave]

Another advantage to having 2 accounts, 1 for ATM (Visa) and 1 regular, is you can keep a very low balance (under 100 baht) in the ATM account to protect yourself against internet vendors who often try to automatically debit your account. If you want to give them the money, just transfer the amount they want to your ATM account and tell them to resubmit the charge immediately.

Works like charm. You will never have unexpected and/or unauthorized charges on your card.

Edited August 8, 2013 by moradave