Thread: 180baht to make an ATM withdraw

I dunno.

The fact that you can ruck up to a machine located on pretty much every street corner in a huge number of countries, at any time of the day or night, and immediately access your own funds is pretty amazing to me.

The hassles of travellers checks, money changers, closing hours, holidays, the constent worry of finding a secure place to keep all your holiday money in one lump etc is long gone.

I suggest a tourist account with a local bank linked to a paypal account to minimise charges and get the best from exchange rates, payments and funds received.

Originally Posted by Albert Shagnastier

I suggest a tourist account

??

is there such a thing ?

Most banks will give you an ATM card (no name on it) and an account number - so you can deposit funds if you have a valid reason, ie you're in the country regularly, don't like to pay the extortionate charges of foreign cards, have to pay bills here, blah blah blah.

what is a recommended bank to transfer to for this sort of ATM card

SCB ?

Cool story, bro!

Bangkok Bank or Kasikorn.

Farang is very rich man.. he can pay no proplem

Originally Posted by ShrewedPunter

Farang is very rich man.. he can pay no proplem

If you're smart you can use this misconception to your advantage.

Originally Posted by baldrick

Originally Posted by Albert Shagnastier

I suggest a tourist account

??

is there such a thing ?

I've got one at SCB and I've never been resident in Thailand.

Savings acct with ATM card and electronic banking.

I think the banks provide a safe, secure and convenient service. And all they ask is a few paltry baht when you use some, not all of their services, which is a fair return considering their immense investment of your money on infrastructure, marketing and manpower resources.

Anyone know if manpower is still allowed?

Originally Posted by harrybarracuda

I've got one at SCB and I've never been resident in Thailand.

Savings acct with ATM card and electronic banking.

Until recently I would have said this was the best way to bank in Thailand.

After seeing accounts frozen due to "money laundering regulations" which the bank officials clearly don't understand, this bank has now become a potential nightmare for overseas account holders. Without warning SCB simply locked the ATM cards, froze the accounts, and insisted account holders attend the branch where the account is held, in person, with their passport, to withdraw money.

SCB became so intransigent that we had to move all of the company's accounts away from them since we weren't getting business done. They wouldn't even clear cheques drawn by the The Revenue Department on an SCB account, or even transfer money overseas using the client's IBAN number.

Originally Posted by Thormaturge

SCB became so intransigent that we had to move all of the company's accounts away from them since we weren't getting business done. They wouldn't even clear cheques drawn by the The Revenue Department on an SCB account, or even transfer money overseas using the client's IBAN number.

We are starting to have trouble with them as well. Even though I have banked with them (personally and professionally) for a dozen years, they are demanding more and more crap to be provided for even the simplest transaction (passport, signed copies of passport etc etc). Seems to be bank policy. Dumbarses, I must have more than 20 different accounts with them currently, and my secretary is talking that we might need to move them....

Originally Posted by bangkokbonecollector

There is a lot of fraud and money laundering going on in Thailand now that the Russkies have turned up. I mean there was before but Russkies are just mad and once they smell a trick, they will utilize it to the full extent, even if it is blatantly obvious, they just don't give a shit.

They have no protection on their electronic banking other than password, so if they've been hit by a major phishing attack, the normal action by the scammers is to transfer money to other accounts and get dupes to withdraw it and Western Union it.

The teller at Bangkok Bank the other day told me to change all of my ATM cards that did not have a chip. She said the old style ATM cards were a big problem now.

I declined, thinking she was just doing a sales promo. Perhaps I should reconsider.

You should do, the chip cards are harder to clone.

How to Avoid Paying Bank Fees While Traveling | Nomadic Matt's Travel Site

Originally Posted by nidhogg

, they are demanding more and more crap to be provided for even the simplest transaction (passport, signed copies of passport etc etc). Seems to be bank policy.

The problem is that there isn't a bank policy. They know that, since last February when Thailand enacted Money Laundering Regulations, they should be doing something, but they cannot figure out what. The great fear with Thai banks is this:

HSBC to pay $1.9 billion U.S. fine in money-laundering case | Reuters

SCB, have become paranoid that they could go the same way as HSBC so practically any transfer across borders is regarded as suspect now. We are now using a different bank which is far more professional although opening the accounts initially required recent copies of the company affidavit, my passport and work permit and a few meeting with the bank to clarify what we do. They have been so much more helpful that SCB that I have moved my private accounts too. One of their staff even came to the office to demonstrate the online banking system which is, regrettably, ridiculously cumbersome...but it works.

Originally Posted by harrybarracuda

You should do, the chip cards are harder to clone.

That's a common perception but not quite true. Fraudsters had the measures in place to defeat the 'smart' chip before it was even launched.

Card reader/writers in the mid-nineties, before the chip was launched with great fanfare, were upgradeable from a simple cut/paste of the magstrip tracks to the same cut/paste of the chip.

The magstrip can be cloned to any card with a magstrip even if it is blank or looks nothing like a credit/debit card. Ditto with the chipped card, and yes, both can still be used as a credit/debit card.

Problem is, and dumb as it may seem, the banks considered only technology but without reasoning through it's application. And so the chipped card enjoys precisely the same critical flaw as the magstrip, which is that neither card proves the user is the legitimate holder.

The expensive consequences of this particular problem will be virtually eliminated, when the bio-card finally arrives.

Originally Posted by leemo

Originally Posted by harrybarracuda

You should do, the chip cards are harder to clone.

That's a common perception but not quite true. Fraudsters had the measures in place to defeat the 'smart' chip before it was even launched.

Card reader/writers in the mid-nineties, before the chip was launched with great fanfare, were upgradeable from a simple cut/paste of the magstrip tracks to the same cut/paste of the chip.

The magstrip can be cloned to any card with a magstrip even if it is blank or looks nothing like a credit/debit card. Ditto with the chipped card, and yes, both can still be used as a credit/debit card.

Problem is, and dumb as it may seem, the banks considered only technology but without reasoning through it's application. And so the chipped card enjoys precisely the same critical flaw as the magstrip, which is that neither card proves the user is the legitimate holder.

The expensive consequences of this particular problem will be virtually eliminated, when the bio-card finally arrives.

Your pedantry is wasted, I deliberately said harder to clone as opposed to impossible to clone.

And as you know that is true.

Originally Posted by harrybarracuda

Originally Posted by leemo

Originally Posted by harrybarracuda

You should do, the chip cards are harder to clone.

That's a common perception but not quite true. Fraudsters had the measures in place to defeat the 'smart' chip before it was even launched.

Card reader/writers in the mid-nineties, before the chip was launched with great fanfare, were upgradeable from a simple cut/paste of the magstrip tracks to the same cut/paste of the chip.

The magstrip can be cloned to any card with a magstrip even if it is blank or looks nothing like a credit/debit card. Ditto with the chipped card, and yes, both can still be used as a credit/debit card.

Problem is, and dumb as it may seem, the banks considered only technology but without reasoning through it's application. And so the chipped card enjoys precisely the same critical flaw as the magstrip, which is that neither card proves the user is the legitimate holder.

The expensive consequences of this particular problem will be virtually eliminated, when the bio-card finally arrives.

Your pedantry is wasted, I deliberately said harder to clone as opposed to impossible to clone.

And as you know that is true.

You are the one squirming with words, not me. But it must be my fault, because it's clearly not yours, so let's try again using simpler words that even you might be able to understand on a good day:

You are wrong, the chip is as easy to clone as the magstrip. The 'harder' part, if you still need a bolthole, is for a fraudster on good weed to order chipped blanks instead of magstrip blanks.

There you go, have fun.