Bangkok Bank Debit Card Stoppage

[GR8fun in LOS]

I transferred monies between 2 Bkk accounts around 6pm tonight with no problems, also updated a phone using the Bkk option. Hopefully it is all working well now.

[Suradit69]

Could this even happen in a developed country?

Credit card breaches of security resulting in identify theft and compromised credit & bank accounts seem to happen with amazing regularity in developed countries. I would think the occasional system failure for ATMs would be mild by comparison although it certainly happens. Anything to do with computers is going to get hit from time to time.

Greece's ATMs stopped dispensing money altogether.

Some customers of Lloyds Banking Group had problems with cash machines and cards today.

Debit card transactions were affected for three hours and cash machines for four and a half hours before the difficulties were resolved.

Disgruntled customers took to social media to express their dissatisfaction.

Carl Bullivant tweeted: "Wife's card declined in Asda had to go get my card from home how embarrassing standing and waiting #poorbankingservice."

Theft of Debit-Card Data From ATMs Soars Thieves are stealing information to make counterfeit plastic

[angiolo]

I keep several thousand dollars worth of Baht in a Thai bank. I read that 80 % of Thais have bank debts that they may not be able to repay. Could tis lead to a situation that the banks would stop ATM withdrawals? Advice please

[anon4546543]

A poster has just asked about the huge debt that many Thais have with their banks. I went to a busy rural bank and watched one young lady put 8 cards into the ATM for withdrawal, all without success. For me I have several accounts with different banks for security of mind In case one bank has a glitch. But I keep most of my funds in Australian banks which have limited guarantees supplied by the Australian Government. It is not all doom and gloom, Thai banks follow the protocols of internationally accepted procedure. If all Thai banks fail, so has the rest of the world, If this happens, money or wealth will not mean anything.

[dotpoom]

Happened in two different banks in Ireland about one and a half years ago....the first for two weeks....the second for about 3 days. Reason given....a computer operator pressing a wrong key on the bank's computer causing it to "crash".

Edited October 8, 2015 by dotpoom

[Tywais]

11:45 am CST UPDATE: Andy reports that the bank and ATM’s have now reopened. No further explanation for the unexpected closures has been provided by Bangkok bank.

We received this memo several hours ago from a SGT Report reader in Thailand who wanted to share information about what is being called a ‘system failure’ at Bangkok Bank which resulted in the closure of all bank branches and ATM’s. As we have long suggested, informed readers should prepare for such banking “outages” in the United Staes as well. Because when such “systemic glitches” come, depending on the reasons and duration, you may find that your window of opportunity to protect yourself has closed, permanently.

Andy writes:

It’s been a while since we last talked and I said I would let you know if any news came my way I thought you should know about. As of two hours ago Bangkok Bank one of Thailand’s biggest banks had what they are calling a system failure of the main computer.

All branches are currently closed along with all ATM machines serving their bank. It is also not possible to transact with a visa debit card to Bangkok bank either. At this time it appears to be only Bangkok bank who is effected but somehow I very much doubt it’s a system failure as all banks have multiple fail safes and backups to protect from these kind of events. I will continue to keep my eye on the situation and report in, but somehow knowing what we both know it might be the start of something a lot bigger that might spread.

SGTReport

My note: 11:45AM CST is 11:45PM Thai time

Note 2: Not a site I would normally link to but can't find any more sources yet.

[NancyL]

Why isn't there anything about this in the the News forum or the Banking forum. Why is it that we here in the Chiang Mai forum are the only ones discussing this nationwide outage of one of the biggest banks (if not the biggest) bank in Thailand.

In retrospect, Hubby and I were very lucky to get our paltry sum of money out of that branch bank in Kanchanburi so we could head home. Turned out the place we were staying wasn't going to accept a credit card and we've never bothered to activate the "cash advance" feature of our U.S. issued credit card. I'll be calling the U.S. credit union now to discuss this with them.

The bank manager and staff at the Bangkok Bank branch at Kanchanaburi were conducting business as normal at 11.30 - 12.00 yesterday. No hint that they thought anything was amiss in their nationwide system.

[Khunangkaro]

For many reasons, I have little confidence in using ATM card.

At home in Thailand I have two savings accounts with bankbooks and ibanking.

One is "BUFFER" account (without atm-card), the other is "ATM" account with only some or zero baht.

My income comes in my overseas account from which I transfer any amount any time to my Thailand's "BUFFER" via ibanking overnight with low fees.

Always carry "BUFFER" bankbook.

I can withdraw cash money from "BUFFER" bankbook at any branch of my bank during opening times. (Late at BigC).

Or I use my smartphone to transfer from "BUFFER" to "ATM" account any amount that I then take from any atm.

[SOTIRIOS]

...without any official announcement not good at all....

...and hopefully not just foreigners' accounts .....

[Liquorice]

Bangkok Bank have been installing something to all ATM's for the last few days.

I called at 3 separate branches Wednesday only to find the ATM's being worked on and armed Police in presence.

Some kind of extra security device was about the only sense I could make out.

Cash is still available at the Counters.

[sappersrest]

Airport Atm working ok this morning 6 am.

[hml367]

I am just curious if the people that did have problems with cards were using chipped cards.

[mikebell]

The day before this crash, I went into BKK Bank branch at Tesco Pattaya on Thepprasit. The ATM up-dated my bankbook but typed all over the inside cover when it got to the last page. This meant, for some unaccountable reason, that the branch could not issue me with a new book. They told me to go to the main branch on 2nd Road. So I did a 60 kms round trip yesterday only to be told the bank's computers were down all over Thailand and/or the world. I will repeat the exercise today but phone first to check if they are open for business.

[Berkshire]

Airport Atm working ok this morning 6 am.

Thank you. I need to go to an ATM today and will verify also. Bkk Bank online is working fine.

[worgeordie]

The Bangkok Bank ATM machine at Makro on Super Highway,
had an out of order sign on it this morning, maybe they
are upgrading from Win. XP to Win 7,

regards Worgeordie

[NancyL]

...without any official announcement not good at all....

...and hopefully not just foreigners' accounts .....

As posted here the "out of service" announcements on the ATM machines indicated the machines were out-of-service for everyone, not just foreigners.

But, I do agree that it is troubling that there hasn't been an official explanation from the bank.

Edited October 9, 2015 by NancyL

[silverhawk_usa]

Did anyone try using their BBK card in another bank"s ATM? I have done this a few times when a single BKK ATM is down for some reason. Obviously it does not apply if your card was 'eaten'. As of fairly new rules, (at least I think this is now true) there is no extra service charge. I wasn't charged a fee. Of course if the entire BKK Bank system was down, it may have still been rejected if the other bank could not connect. I always carry a U.S. bank credit card as a backup in case of a situation as has been described. There is a fee, but I would rather pay the fee and not jump through a bunch of hoops or go without funds.

[NancyL]

I am just curious if the people that did have problems with cards were using chipped cards.

Yes, the card that the Bangkok Bank ATM machine at a Tesco Lotus express in Kanachanburi ate was indeed one of their new-fangled high security chipped card.

[Berkshire]

Airport Atm working ok this morning 6 am.

Thank you. I need to go to an ATM today and will verify also. Bkk Bank online is working fine.

I just got cash out of a BKK Bank ATM at Airport Central 12 noon, no problems. They seem to be back to normal.

[mamborobert]

Ditto here at Bangkok Bank ATM at Rimping near the Iron Bridge

[northernjohn]

11:45 am CST UPDATE: Andy reports that the bank and ATMs have now reopened. No further explanation for the unexpected closures has been provided by Bangkok bank.

We received this memo several hours ago from a SGT Report reader in Thailand who wanted to share information about what is being called a system failure at Bangkok Bank which resulted in the closure of all bank branches and ATMs. As we have long suggested, informed readers should prepare for such banking outages in the United Staes as well. Because when such systemic glitches come, depending on the reasons and duration, you may find that your window of opportunity to protect yourself has closed, permanently.

Andy writes:

Its been a while since we last talked and I said I would let you know if any news came my way I thought you should know about. As of two hours ago Bangkok Bank one of Thailands biggest banks had what they are calling a system failure of the main computer.

All branches are currently closed along with all ATM machines serving their bank. It is also not possible to transact with a visa debit card to Bangkok bank either. At this time it appears to be only Bangkok bank who is effected but somehow I very much doubt its a system failure as all banks have multiple fail safes and backups to protect from these kind of events. I will continue to keep my eye on the situation and report in, but somehow knowing what we both know it might be the start of something a lot bigger that might spread.

SGTReport

My note: 11:45AM CST is 11:45PM Thai time

Note 2: Not a site I would normally link to but can't find any more sources yet.

So far in this thread there has been talk of other bank failures world wide. The letter sounds more like paranoia Thai bashing to me. Any one that knows any thing about computers knows they are subject to break downs. I can remember here in Thailand when we could not get the internet for several days.

[connda]

I keep several thousand dollars worth of Baht in a Thai bank. I read that 80 % of Thais have bank debts that they may not be able to repay. Could tis lead to a situation that the banks would stop ATM withdrawals? Advice please

Global finance is an interlocked maze. Start at the US and work to Thailand:

You should probably realize that your status at your US banks is no longer that of a depositor, but that of an investor. While the sheep sleep, the banks and governments change the rules. Remember Cyprus? That's the model the G20 has adopted. If a bank crashes, it pays it's creditors first using your money that you have 'invested' (not deposited), now called a 'bail in', and whatever pennies that may be left will be distributed to those who have been trained to place their money (err, 'invest') in the 'safety' of banks (good sheep - 'Baaaaa;'. On top of that, when the banks lobbied Congress to repeal the Glass-Steagall Act in the 1990s, they effectively turned commercial banks into investment banks (casinos) where complex financial instruments, derivatives, have left them all open to trillions of dollars of shady investments that are impossible to pay off in a crisis. 2008 was a farce. Nothing was done to rein in the banks (derivatives exposure of the top six US banks now exceeds $276 Trillon US dollars as of Aug 2015) or the Fed (let's give a $4 Trillion to our friends - that's just what is on the 'public' facing books), both of which are in worse shape than they were prior to the Lehman Brothers default and corresponding money give-away by the Federal Reserve. Oh by the way, the US congress agree to assume responsibility for the derivatives exposure of the 'TBTF' US banks. That little gift to JP Morgan and friends was buried in the last 'continuing resolution' budget to pass Congress last year. Remember FDIC. The entity that is suppose to protect your deposits? That money is now earmarked to pay off bad investments made by the major US banks. Cool huh? Remember, you're an investor, not a depositor. Investments are risky. You should have know better.

The PC word for this is Corpocracy. Mussolini correctly defined it as Fascism. We do have an unholy alliance between banks, corporations, and governments. The most current example: TPP. Shhhhh. You nor your Congressman is allow to know what's in it, but it needs to pass into law quickly. Baaaaaa. Keep staring at your smartphone, clone. Don't mind the man behind the curtain.

So - Is your money safe anywhere? Probably not. Sheep are for shearing.

I'd worry more about your account with one of the United States 'Too Big To Fail' banks, then I would with Thai banks. However, this whole Ponzi Scheme is one major bank default away from bringing down the whole house of cards (and Deutsche Bank isn't looking too happy nowadays). If the US, London, or EU banks go south, so will the rest of the world (maybe). I don't keep up with the current investment practices of Thai banks, but considering they lost their shirts back in 1997, my bet is that their debt exposure may be more conservative than their counterparts in the West, but I may be wrong on this. I know SCB, Krung Thai Bank and Tisco Bank are sitting on a 50 billion THB debt restructure after issuing debt to Sahaviriya Steel Industries in 2011. SSI just went bankrupt and these three bank are scrambling to cover the debt. You can source it on Reuters. So how are Thai banks doing? I don't know. Where can I find their balance sheets in English? So, at the moment, I'm not sure if there is any separation between 'commercial' vs 'investment' banks here in the LOS. If there is, your money may be safer than in the West. If there is no separation: All bets are off. When SHTF it will spray the world.

BTW, if anyone knows any books or online resources that explains the structure, internal workings and risks of Thai banks at the present date, and that are written in English, please share the links. I'm interested.

[Walter Travolta]

Tried to use my Bangkok Bank debit card at the Big C 2 Hang Dong branch yesterday, no go.

Big notice in Thai stuck over the ATM machine. Asked the girl in there and told me to try at another branch. Went to Big C 1 Hang Dong Branch, it worked no problem there.

Big C regularly has a problem with Bangkok Bank ATM cards. I shop elsewhere.

Eh??

[sappersrest]

I keep several thousand dollars worth of Baht in a Thai bank. I read that 80 % of Thais have bank debts that they may not be able to repay. Could tis lead to a situation that the banks would stop ATM withdrawals? Advice please

Global finance is an interlocked maze. Start at the US and work to Thailand:

You should probably realize that your status at your US banks is no longer that of a depositor, but that of an investor. While the sheep sleep, the banks and governments change the rules. Remember Cyprus? That's the model the G20 has adopted. If a bank crashes, it pays it's creditors first using your money that you have 'invested' (not deposited), now called a 'bail in', and whatever pennies that may be left will be distributed to those who have been trained to place their money (err, 'invest') in the 'safety' of banks (good sheep - 'Baaaaa;'. On top of that, when the banks lobbied Congress to repeal the Glass-Steagall Act in the 1990s, they effectively turned commercial banks into investment banks (casinos) where complex financial instruments, derivatives, have left them all open to trillions of dollars of shady investments that are impossible to pay off in a crisis. 2008 was a farce. Nothing was done to rein in the banks (derivatives exposure of the top six US banks now exceeds $276 Trillon US dollars as of Aug 2015) or the Fed (let's give a $4 Trillion to our friends - that's just what is on the 'public' facing books), both of which are in worse shape than they were prior to the Lehman Brothers default and corresponding money give-away by the Federal Reserve. Oh by the way, the US congress agree to assume responsibility for the derivatives exposure of the 'TBTF' US banks. That little gift to JP Morgan and friends was buried in the last 'continuing resolution' budget to pass Congress last year. Remember FDIC. The entity that is suppose to protect your deposits? That money is now earmarked to pay off bad investments made by the major US banks. Cool huh? Remember, you're an investor, not a depositor. Investments are risky. You should have know better.

The PC word for this is Corpocracy. Mussolini correctly defined it as Fascism. We do have an unholy alliance between banks, corporations, and governments. The most current example: TPP. Shhhhh. You nor your Congressman is allow to know what's in it, but it needs to pass into law quickly. Baaaaaa. Keep staring at your smartphone, clone. Don't mind the man behind the curtain.

So - Is your money safe anywhere? Probably not. Sheep are for shearing.

I'd worry more about your account with one of the United States 'Too Big To Fail' banks, then I would with Thai banks. However, this whole Ponzi Scheme is one major bank default away from bringing down the whole house of cards (and Deutsche Bank isn't looking too happy nowadays). If the US, London, or EU banks go south, so will the rest of the world (maybe). I don't keep up with the current investment practices of Thai banks, but considering they lost their shirts back in 1997, my bet is that their debt exposure may be more conservative than their counterparts in the West, but I may be wrong on this. I know SCB, Krung Thai Bank and Tisco Bank are sitting on a 50 billion THB debt restructure after issuing debt to Sahaviriya Steel Industries in 2011. SSI just went bankrupt and these three bank are scrambling to cover the debt. You can source it on Reuters. So how are Thai banks doing? I don't know. Where can I find their balance sheets in English? So, at the moment, I'm not sure if there is any separation between 'commercial' vs 'investment' banks here in the LOS. If there is, your money may be safer than in the West. If there is no separation: All bets are off. When SHTF it will spray the world.

BTW, if anyone knows any books or online resources that explains the structure, internal workings and risks of Thai banks at the present date, and that are written in English, please share the links. I'm interested.

How many people really care about the state of the Thai markets and banking systems or global ones for that matter, most of us have a a few bob stashed away here and there . Thai banks and UK banks have a guarantee system in place to protect your money in domestic accounts, So I for one don't really care at the moment, so long as I can get my daily cash from an ATM. Life is to short when you get to my age live a little and enjoy life.

Edited October 9, 2015 by sappersrest

[connda]

Does anybody (as in Expats) have a account with UOB Bank Thailand here in Chiang Mai. Interestingly enough, they are the highest rated major Thai bank according to Moodys. UOBT has an A3 rating. All other major banks are Baa1.

Worth a read if you're into this type of stuff. https://www.moodys.com/research/Moodys-concludes-review-on-four-Thai-banks-assigns-Counterparty-Risk--PR_326711

Interesting how many of these banks have branches in...The Cayman Islands. Now why would you need branches in a place notorious for secret off-shore banking, and a nice place to tuck away assets that you'd prefer no one know about? Think about it...

Edited October 9, 2015 by connda

[sappersrest]

The thread now looks as if it should be moved towards the realms of the banking forum.

, getting to deep for the likes of me.

[connda]

I keep several thousand dollars worth of Baht in a Thai bank. I read that 80 % of Thais have bank debts that they may not be able to repay. Could tis lead to a situation that the banks would stop ATM withdrawals? Advice please

Global finance is an interlocked maze. Start at the US and work to Thailand:

You should probably realize that your status at your US banks is no longer that of a depositor, but that of an investor. While the sheep sleep, the banks and governments change the rules. Remember Cyprus? That's the model the G20 has adopted. If a bank crashes, it pays it's creditors first using your money that you have 'invested' (not deposited), now called a 'bail in', and whatever pennies that may be left will be distributed to those who have been trained to place their money (err, 'invest') in the 'safety' of banks (good sheep - 'Baaaaa;'. On top of that, when the banks lobbied Congress to repeal the Glass-Steagall Act in the 1990s, they effectively turned commercial banks into investment banks (casinos) where complex financial instruments, derivatives, have left them all open to trillions of dollars of shady investments that are impossible to pay off in a crisis. 2008 was a farce. Nothing was done to rein in the banks (derivatives exposure of the top six US banks now exceeds $276 Trillon US dollars as of Aug 2015) or the Fed (let's give a $4 Trillion to our friends - that's just what is on the 'public' facing books), both of which are in worse shape than they were prior to the Lehman Brothers default and corresponding money give-away by the Federal Reserve. Oh by the way, the US congress agree to assume responsibility for the derivatives exposure of the 'TBTF' US banks. That little gift to JP Morgan and friends was buried in the last 'continuing resolution' budget to pass Congress last year. Remember FDIC. The entity that is suppose to protect your deposits? That money is now earmarked to pay off bad investments made by the major US banks. Cool huh? Remember, you're an investor, not a depositor. Investments are risky. You should have know better.

The PC word for this is Corpocracy. Mussolini correctly defined it as Fascism. We do have an unholy alliance between banks, corporations, and governments. The most current example: TPP. Shhhhh. You nor your Congressman is allow to know what's in it, but it needs to pass into law quickly. Baaaaaa. Keep staring at your smartphone, clone. Don't mind the man behind the curtain.

So - Is your money safe anywhere? Probably not. Sheep are for shearing.

I'd worry more about your account with one of the United States 'Too Big To Fail' banks, then I would with Thai banks. However, this whole Ponzi Scheme is one major bank default away from bringing down the whole house of cards (and Deutsche Bank isn't looking too happy nowadays). If the US, London, or EU banks go south, so will the rest of the world (maybe). I don't keep up with the current investment practices of Thai banks, but considering they lost their shirts back in 1997, my bet is that their debt exposure may be more conservative than their counterparts in the West, but I may be wrong on this. I know SCB, Krung Thai Bank and Tisco Bank are sitting on a 50 billion THB debt restructure after issuing debt to Sahaviriya Steel Industries in 2011. SSI just went bankrupt and these three bank are scrambling to cover the debt. You can source it on Reuters. So how are Thai banks doing? I don't know. Where can I find their balance sheets in English? So, at the moment, I'm not sure if there is any separation between 'commercial' vs 'investment' banks here in the LOS. If there is, your money may be safer than in the West. If there is no separation: All bets are off. When SHTF it will spray the world.

BTW, if anyone knows any books or online resources that explains the structure, internal workings and risks of Thai banks at the present date, and that are written in English, please share the links. I'm interested.

How many people really care about the state of the Thai markets and banking systems or global ones for that matter, most of us have a a few bob stashed away here and there . Thai banks and UK banks have a guarantee system in place to protect your money in domestic accounts, So I for one don't really care at the moment, so long as I can get my daily cash from an ATM. Life is to short when you get to my age live a little and enjoy life.

Ignorance is bliss. Can't blame you though. The Normacy-Bias keeps most folks sane. Well, until it doesn't. Think Argentina 2001.

[connda]

The thread now looks as if it should be moved towards the realms of the banking forum.

, getting to deep for the likes of me.

I understand it's deep. Keeping it simple, all I'm trying to say is be cautious. Sudden banking outages may be a sign of instability in the financial markets.

Be on your toes and have a plan. Educate yourself. Prepare. Then relax and enjoy life while it's still good. That it in a nutshell. Be happy! But smart!

[sappersrest]

My plan is never invest more than you can't afford to loose , been good for the past 62 years, and spread your investments and if appears to good to be true walk away.I may never get rich but at least I can leave the grand kids a shilling or to.

In my book keep it simple.

[Oscar2]

Why isn't there anything about this in the the News forum or the Banking forum. Why is it that we here in the Chiang Mai forum are the only ones discussing this nationwide outage of one of the biggest banks (if not the biggest) bank in Thailand.

i'm fairly certain Thai Panich is the biggest bank in Thailand. the King and all of the royal family keep their money there. most of the data available on the internet is many years outdated.