Thai bank refuses to compensate foreigner

[american12bthai]

when i find out what bank this is... im taking my money out. since i split up my savings into multiple accounts. its the only thing i can do to help.

[ParadiseLost]

A friend of my wife is currently in the middle of a court case, fighting a bank who claims she signed as guarantor for a car loan.

She has been to court about 10 times in the past year and now has to pay 20k to get 'expert' confirmation that the signature on the application does not match hers. Apparently her 'friend' photocopied her ID and some other docs. The 'friend' disappeared with the car so the bank wants the money from her.

She luckily has a lawyer friend who has helped her fight this, and it looks like she will win. Only thing is she must then sue the bank to recover her costs... In all, it would cost more than 100k just to clear her name - how many normal working people can afford that?

[bangon04]

If he were a Thai citizen, then at least he would have the option of setting himself on fire outside the bank, but since he is Burmese, they would probably let him burn.

[peterdarby]

IT IS someone else's fault, DONT LET YOUR 'FRIEND' steal your document's, it's that simple.. with all the fraud in this country, how the fk does the bank know you and your friend arn't simply working together?..

I keep track of all my passbooks, if i loose an atm card, i cancel it immediately .. this guy was careless and it was HIS friend that did this to him, it's not the banks falt, the rest of us do not want to 'pay' for people who are careless by way of additional fees and additional insurance charges so we can help friends commit fraud.

"He said the bank refused to compensate him for the lost money."

The standard Thai mantra; "Not our fault. Someone else's fault. We never make mistakes. If you didn't want to lose your money, you should not put it in bank."

Imagine how many people would go into shock if they actually admitted that they made a mistake and were willing to compensate the customer. But that would require growing a pair.

After making a police complaint, his 'friend' was arrested. If they are working together, this is not a well thought out plan.

[Neeranam]

Banks are the real crooks, the scourge of the monetary system, and Thai banks are king of the pit.

Are you serious? Take a look a the UK banks or in America - what they're doing is criminal and 1000 times worse than Thai banks.

Thai banks are ok, corrupt but that helped me get a mortgage for more than the house is worth and credit card.

[JOC]

when i find out what bank this is... im taking my money out. since i split up my savings into multiple accounts. its the only thing i can do to help.

Yes that will teach them!!

Sure the Thai bankingsystem will collapse, when you take your 22k out!!

[retell]

Hello Bank! You should never allow anyone else except the account holder to process the transactions. If the account holder is not there personally to sign off on the documents, you should say 'sayonara' to non-account holders. This is Bank 101.

had big trouble getting a new atm card for my own scb account

they kept saying the signature didnt match , did get one after a few times finally , and this was at my home branch

[scorecard]

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Hello Bank! You should never allow anyone else except the account holder to process the transactions. If the account holder is not there personally to sign off on the documents, you should say 'sayonara' to non-account holders. This is Bank 101.

Agree, but what is lacking with many banks is the capability to quickly accurately identify who really is the account owner. Not OK but reality.

In regard to issue of ATM cards my family had an experience not long back when we opened a new joint savings account and we told the bank officer we did not want an ATM card.

The bank officer insisted that it was compulsory to have an ATM card. My son got rather strong with the girl who, when my son proved that it was not compulsory, had to back down and lose face.

[Time Traveller]

Hello Bank! You should never allow anyone else except the account holder to process the transactions. If the account holder is not there personally to sign off on the documents, you should say 'sayonara' to non-account holders. This is Bank 101.

read the story again. It said he stole the personal documents of the victim to use to withdraw the money. Presumably this mean tbank book and ID of the account holder and the bank either didn't check or thought he was the same person "signing off".

Edited October 16, 2014 by Time Traveller

[Dogmatix]

And if the victim had been the kid of a politician or a senior army officer the response of the bank would have been?

[CMNightRider]

This should be a wake up call to any of us who has a Thai bank account. Thailand is a wonderful country to retire to but personally, I wouldn't invest any money here. :-(

[Acharn]

Don't banks have insurance to cover this kind of fraud ?

In Thailand??

Nothing to do with the victim being from Myanmar. This lack of security is one reason to reduce your exposure to Thailand, none of the banks will compensate for this type of incident.

I'm pretty sure the banks have insurance. Don't forget, the Chinese invented insurance (boat owners on the Yangtze River). I think the reason the banks fight to not compensate is because the same people own both the bank and the insurance company (at many corporate levels remove).

[FredNL]

My Bangkok Bank Visa card got skimmed on a machine on Asoke - Din Daeng Road (Bangkok Bank branch) earlier this year.

I lost in total over 150,000 THB over a weekend, withdrawn somewhere in Russia while I was in Bangkok. Haven't seen a Baht returned from the Bangkok Bank yet. According to them it is still under investigation.

[Ulic]

No story here, it would be a bigger story if the bank had refunded the money.

[Jonmarleesco]

Considering the pedantics Thai banks indulge in, no matter what the customer requires, it seems fair to assume they should have caught on to the fraud at the outset.

[Chicog]

In Thailand, the foreigner will never get Justice if a Bank errors. My ATM card was skimmed and being used in Russia while I was still ussing the card in Chiang Mai.

After I noticed the stolen transactions, I went to the bank and asked them if their internal Security did not notice transactions from the Same card being made in Russia AND Chiang Mai at the same time ? They do NOT have that kind of sophistication.

I just recently cancelled the ATM card on my account for that exact reason.

If they try and tell me the money's gone through ATM withdrawals they are going to have a fun time explaining how.

[pisico]

Credit card theft is so easy, when is the last time any clerk asked to see more then the plastic, Unless these two guys look one heck of a lot alike Asian to Asian, the card should not have been issued ion the first place.

It 78K baht to file a Court Case and get the money back, 60K in filing fees and a few years of waiting to get to court. The bank knows he can't do that, just had all of his savings stolen. You can bet if they they were dealing with someone who could fight back things would go easier.

Does that consumer protection agency still exist?

Seems like the only hope for this guy..

Consumer protection? In Thailand?

Thainess, Thaines uber ales !!!

[Alwyn]

It's not just Thai banks. I had a bank account in Malta when I was contracting there. When I left I changed my address details to mt Thai address, not a problem, the bank were happy etc. I kept the account for euro payments from other businesses. A year or so later I noticed withdrawals from ATMs in Malta. I called and explained this wasn't possible as I'm not in Malta. " weeks later they came back to me and told me they had photos of the person (ATM camera) and had forwarded them to the police. They also told me they had mistakenly sent my new bank card to my old address and then read back to me me my new address. Did I get the money back. NO not a cent. Banks around the World are the same.

[JacChang]

Wow much hate for banks.

Feelings aside, I think the main problem still lies with that friend. In this situation, the bank should sue that "friend" for identity fraud and illegally using other people's bank accounts without owner consent. This case, they should win easily and get compensation for the crime caused.

2nd situation, the victim should sue that friend for theft.

Both situations point towards that friend, as the cause of the problem, and how the law should proceed. Is it not?

[TallGuyJohninBKK]

Credit card theft is so easy, when is the last time any clerk asked to see more then the plastic, Unless these two guys look one heck of a lot alike Asian to Asian, the card should not have been issued ion the first place.

It 78K baht to file a Court Case and get the money back, 60K in filing fees and a few years of waiting to get to court. The bank knows he can't do that, just had all of his savings stolen. You can bet if they they were dealing with someone who could fight back things would go easier.

Does that consumer protection agency still exist?

Seems like the only hope for this guy..

Bank of Thailand Financial Consumer Protection Center English language website

http://www.1213.or.th/en/Pages/default.aspx

That's the place to file complaints regarding any financial industry wrongdoing here.

Though, historically, the Thai banks seem to take the position that if someone "allows" their bank card or other key documents to be accessed/used by others, that person is deemed responsible for not adequately protecting their stuff. "Allowing" sometimes seems to include a person being victimized by a theft, at least as far as the banks are concerned.

Does the bank bear any responsibility for allowing a criminal to mis-use the identity documents that belong to a different person altogether, and giving access to the victim's account based on fraudulent representations??? Apparently, the bank doesn't think so.

[bikerider21]

This is bank robbery...in reverse...the bank is robbing the individual...should definitely be held accountable for their colossal screw-up...

When I was young 1970 or so, it was part of growing up to get your driving license and your first bank account even without money, except for the 5 pounds it took to open it.

Then, banks were establishments. I got paid monthly instead of weekly and my 7 quid a month was paid into a bank instead of me getting a weekly wage packet with so many deducations you could blow it all in the pub on a Friday night.

I was proud to have a bank account then. Since then I've grown up and banks are not what they used to be.

I'm surprised people still use banks anymore. We're so afraid of someone nicking the loot from under the mattress that we allow banks to charge us every time they write to us to tell us how little money we have. We keep our stash in their safe keeping and when some body takes it, they blame us. No wonder they can give their management such big salaries and bonuses. Who else could give to the rich by robbing the poor?

Edited October 16, 2014 by bikerider21

[Strangebrew]

That is exactly why I put my money in Citibank Good bank well lit area ATM's inside bank with security guard present. Beside been banking with them for years. No ATM fees for withdrawal Transfer money from states to Thailand for free Secure online system easy to check account in comfort of home transfer funds check statements. And if using skype free calls to let them know when I leave country. If strange transaction is done won't allow it to go through and they call my cell phone to check if it is me doing it. Fug Thai banks Why should they earn of my money.

[ronwparker]

This is bank robbery...in reverse...the bank is robbing the individual...should definitely be held accountable for their colossal screw-up...

When I was young 1970 or so, it was part of growing up to get your driving license and your first bank account even without money, except for the 5 pounds it took to open it.

Then, banks were establishments. I got paid monthly instead of weekly and my 7 quid a month was paid into a bank instead of me getting a weekly wage packet with so many deducations you could blow it all in the pub on a Friday night.

I was proud to have a bank account then. Since then I've grown up and banks are not what they used to be.

I'm surprised people still use banks anymore. We're so afraid of someone nicking the loot from under the mattress that we allow banks to charge us every time they write to us to tell us how little money we have. We keep our stash in their safe keeping and when some body takes it, they blame us. No wonder they can give their management such big salaries and bonuses. Who else could give to the rich by robbing the poor?

Typically Thai-would they compensate a Thai?

[TallGuyJohninBKK]

That is exactly why I put my money in Citibank Good bank well lit area ATM's inside bank with security guard present. Beside been banking with them for years. No ATM fees for withdrawal Transfer money from states to Thailand for free Secure online system easy to check account in comfort of home transfer funds check statements. And if using skype free calls to let them know when I leave country. If strange transaction is done won't allow it to go through and they call my cell phone to check if it is me doing it. Fug Thai banks Why should they earn of my money.

If you mean Citibank U.S., for their regular accounts, they DON'T allow free U.S.-Thailand funds transfers. Unless you have a relationship with the bank that exceeds $500,000 U.S.

If you mean Citibank Thailand, I don't know of any of their accounts that allow you to pull money from the U.S. for free, or even more broadly, receive it for free from the U.S. -- again, unless the account is CitiGold or higher status.

[eddiekho]

if there are sufficient evidences then bring this case to police and the police shall act on it.

[BWPattaya]

My daughter tried to use an ATM to withdraw cash. No money came out and it kept the card. She got an SMS to say the money had been withdrawn. She went into the bank to say the machine had failed to give her the money and kept her card. The bank's response was "go to your own bank and report it. We can't help you." No attempt to retrieve her card or give her the cash that had been deducted from her account.

I had remained outside at the ATM in case her card came out whilst she was inside. Another woman came up to use the ATM and it kept her card too. A woman who was watching me told me that the ATM had been faulty for three days and had been doing it all weekend.

This was in the UK two months ago.

Edited October 16, 2014 by BWPattaya

[Tokay]

As so many have said before, don't put anything in a Thai bank, or invest in anything in Thailand, that you're not willing to lose.

[hawker9000]

Don't banks have insurance to cover this kind of fraud ?

In Thailand??

Nothing to do with the victim being from Myanmar. This lack of security is one reason to reduce your exposure to Thailand, none of the banks will compensate for this type of incident.

My impression is that this is mostly true. I think there are other threads here at TV with firsthand accounts of defrauded customers never being compensated. I'd never put more money in a Thai bank, or bring into Thailand at one time at all for that matter, than I could afford to lose. And I'm positively paranoid when it comes to safeguarding my sensitive documents and personal data.

[ScubaPhuket]

Thai banks refuse to offer interest to foreigners too. National level.

[hawker9000]

Thai banks refuse to offer interest to foreigners too. National level.

Well at least one is paying it to me... 'Just a plain vanilla savings account.

Edited October 16, 2014 by hawker9000