Bangkok Bank Debit Card Stoppage

[Oscar2]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

[sappersrest]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

[Konini]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

Agreed, this very well might be the problem. I've used my BB debit card in Rimping a lot, Big C not so much, but never had a problem with either.

[kingalfred]

Tried to use Bangkok Bank card at TOPS and Tesco Lotus yesterday and checkout staff said "cannot" "error"

[Sparkles]

If the ATM machine is down outside a bank surely you can go inside ,with your passport, and get a cash withdrawal.

I do that every month with my Australian Credit Unions visa card.

Ive been down the ATM card swallowing episode on a Sunday when the bank was closed,never risk it again .pain in the butt getting it back.

[uptheos]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

Then you can only use it at BB ATM's.........can't you?

[daoyai]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

Then you can only use it at BB ATM's.........can't you?

That has been my experience. i got a chip card years ago from BB and it only worked in BB machines and only the newer machines, took a couple years until all the BB atms were usable............ ....soo what is the status of the "crisis" today?

[uptheos]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

Then you can only use it at BB ATM's.........can't you?

That has been my experience. i got a chip card years ago from BB and it only worked in BB machines and only the newer machines, took a couple years until all the BB atms were usable............ ....soo what is the status of the "crisis" today?

Bangkok Be1st Cards and name your spending limit.

[uptheos]

If the ATM machine is down outside a bank surely you can go inside ,with your passport, and get a cash withdrawal.

I do that every month with my Australian Credit Unions visa card.

Ive been down the ATM card swallowing episode on a Sunday when the bank was closed,never risk it again .pain in the butt getting it back.

So one person does actually carry their passport everywhere.

[cooked]

Same thing happened in Buriram on Wednesday. I couldn't use my Bangkok Bank debit card on any machine.

Instead of shopping I had to be content with half filling up with petrol and go home.

Back home we would have been warned in advance, this kind of thing can cause really big problems. (Bribing the police for instance, people on holiday...)

[Liquorice]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

Then you can only use it at BB ATM's.........can't you?

Or any retailers that accept payment by debit card.

The fact the BE 1st chip and pin can only be used at a BKK ATM is what makes it more secure.

[Liquorice]

has anyone ever successfully used a Bangkok Bank debit card at Rimping or Big C? I seldom ever use my card (except for ATM use) but the few times I did try to use the card for purchases of groceries it didn't work. the cashiers at both Rimping and Big C told me that the Bangkok Bank card rarely ever works in their systems. strange...

No problem at all ,think you may need a smart card with a chip in it.

Then you can only use it at BB ATM's.........can't you?

That has been my experience. i got a chip card years ago from BB and it only worked in BB machines and only the newer machines, took a couple years until all the BB atms were usable............ ....soo what is the status of the "crisis" today?

There is no 'crisis'.

BKK have been carrying out maintenance to all their ATM's to improve security.

Cash is still available at the counter.

If you withdraw from your own branch only your card is required, other branches may request your passport.

I was slightly inconvenienced last Wednesday.

Used the card since at ATM's and retailers no problem.

[1Gringo]

I dunno. it worked fine for me this afternoon.

[Trujillo]

Did anyone try using their BBK card in another bank"s ATM?

At the time of the stoppage, I tried my Bangkok Bank card at Kasikorn and Siam, both spit it out.

[HikeFromLA]

If the ATM machine is down outside a bank surely you can go inside ,with your passport, and get a cash withdrawal.

I do that every month with my Australian Credit Unions visa card.

So in Thailand I can take a foreign bank debit/ATM card inside an unrelated Thai bank and get cash from the teller there?

Nice.

Can't do that here in Mexico. Forced to suckle from the ATM teat regularly.

How much cash do they let you have generally

....at the ATM?

....inside at the teller?

[NancyL]

You should go over to the Banking Forum to ask this question because it depends on the type of card you have.

http://www.thaivisa.com/forum/forum/13-jobs-economy-banking-business-investments/

This thread is about Bangkok Bank's little hiccup and the total lack of any media coverage, explanation on their website and how this all would have been big news in the west if a bank of BB's stature had a similar problem.

[bangmai]

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.

Is there a new Michael Moore movie out? Or did you have a bad experience with a local, "investment advisor." US bank accounts are insured by FDIC for up to 250,000 USD.......when a bank fails, it is almost seamless. Bank of Nevada failed n 2009; I simply had to give them an account and routing number of another bank. I actually thought it had been robbed, when I walked by and saw all the police cars, but they were actually escorting the reps from FDIC. Deposits are insured in Thailand, too. That is something to keep in mind, as I read the limit will be 1 million THB at the smaller banks. The steel investment was a boondoggle, it will likely cost many their reputations, but the whole commodities sector has been a bloodbath. SCB lost the equivalent of half of one quarter's profits. In true TV Forum style, you raise many objections, but give no alternatives. Perhaps,another wind-up for gold coins?

Edited October 24, 2015 by bangmai

[Tywais]

Deposits are insured in Thailand, too. That is something to keep in mind, as I read the limit will be 1 million THB at the smaller banks.

Not just smaller banks, all banks except government banks. For example Bangkok Bank, the largest commercial Thai bank has it on their website regarding the reduction. It was just reduced from 50 million to 25 million on 11 August this year and will be reduced to 1 million on 11 August 2016. Source DPA

[bangmai]

Deposits are insured in Thailand, too. That is something to keep in mind, as I read the limit will be 1 million THB at the smaller banks.

Not just smaller banks, all banks except government banks. For example Bangkok Bank, the largest commercial Thai bank has it on their website regarding the reduction. It was just reduced from 50 million to 25 million on 11 August this year and will be reduced to 1 million on 11 August 2016. Source DPA

It will be interesting to see how that impacts the Thai banking sector. Seems like it could really boost the assets of the lesser known, but insured banks, and it also might be the final straw that gets people into the SET.

[Tywais]

Deposits are insured in Thailand, too. That is something to keep in mind, as I read the limit will be 1 million THB at the smaller banks.

Not just smaller banks, all banks except government banks. For example Bangkok Bank, the largest commercial Thai bank has it on their website regarding the reduction. It was just reduced from 50 million to 25 million on 11 August this year and will be reduced to 1 million on 11 August 2016. Source DPA

It will be interesting to see how that impacts the Thai banking sector. Seems like it could really boost the assets of the lesser known, but insured banks, and it also might be the final straw that gets people into the SET.

I just setup a poll in the Banking forum to see what others plan to do - Bank deposit insurance reduction in 2016