Thai banks limit transfer amounts - if you are over 65, that includes YOU

[Jun]

I appreciate and fully understand the point your making, but also know how fast the skills of the hackers (on a global basis) are accelerating and won't be the least bit surprised when we start hearing about mobile bank accounts getting hacked.

The probability of one of my bank accounts being the first to be hacked is quite low.

I imagine the day will come (if I'm fortunate enough to live that long) that I simply won't have the wherewithal to drive to the bank every month - in which case I'll just have to quit being stubborn and join the rest of the human race...555.

They have closed many bank branches in the UK, mainly as people aren't using them. My mother would have to drive 30 miles to visit her bank now, but manages to get by with her iPhone and ATMs.
Thailand is also closing bank branches, but is behind on that metric. Possibly due to various sectors of the economy preferring cash due to traceability. I doubt they take tea money via QR codes.

[Gaybutton]

For me, this latest announcement clarifies nothing. I still have no idea whether this limit will apply to me. I also don't want to find out the hard way that it prevents the automatic deduction from my Thai bank account for my health insurance premiums, which definitely exceed 50,000 baht.

I resent someone else deciding for me that I am not capable of protecting myself from fraud and scams and the government has to step in and do it for me like this. I would rather the banks send out a recommendation to voluntarily limit transfer amounts rather than imposing what seems to be an arbitrary number on people who neither want it or need it. I don't need my intelligence insulted.
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Bank of Thailand Clarifies 50,000 Baht Transfer Limit Will Not Apply to All Customers

By Adam Judd

August 21, 2025

The Bank of Thailand (BOT) moved swiftly to address public concerns on Wednesday, clarifying that proposed daily transfer limits of 50,000 baht will not apply universally, following widespread panic over initial reports suggesting blanket restrictions to combat fraud.

The central bank issued a statement via its official Facebook page after reports surfaced that the BOT planned to enforce a 50,000 baht daily transfer cap for all customers by 2025 as a measure to reduce fraud risks and protect consumers from scams. The announcement sparked public unease, bringing immediate clarification.“There is no need to worry. Not everyone will be subject to the 50,000 baht transfer limit,” the BOT said in its statement.

The central bank explained that most customers will receive transfer limits tailored to their typical transaction patterns. For example, individuals who regularly transfer amounts exceeding 50,000 baht will be granted higher limits to accommodate their needs.

However, certain customer groups will face the 50,000 baht daily limit to ensure the effectiveness of anti-fraud measures. These include:1. Customers identified as potential fraud risks.
2. Customers with limited banking history at their financial institution.
3. Customers whose regular transfers typically do not exceed 50,000 baht.

The BOT assured that customers in the second and third categories who require emergency transfers or wish to increase their limits can contact their financial institutions through mobile banking apps, call centers, or in-person branch visits.

The clarification aims to ease concerns while maintaining the central bank’s commitment to enhancing consumer protection against rising financial scams.

https://thepattayanews.com/2025/08/21/b ... customers/

[Jun]

This idea of blocking payments because you don't make them regularly is ludicrous.

Customer A is short of money, so pays his insurance monthly (which costs more)
Customer B pays his insurance annually, as it is cheaper & he has the cash.

Yet, presumably customer B is more likely to have a payment blocked, despite being more solvent.

For me, this latest announcement clarifies nothing. I still have no idea whether this limit will apply to me. I also don't want to find out the hard way that it prevents the automatic deduction from my Thai bank account for my health insurance premiums, which definitely exceed 50,000 baht.

In my experience, bank software for flagging suspect payments can make some very basic errors. Even in the UK, which has quite a strong financial sector.

For example, a few years ago, one credit card stopped payments for "suspicious" transactions.
These were:
(i) A regular mobile phone bill (they know I had a mobile phone, since it was registered against the account)
(ii) My home insurance. This was to a known insurer and I make a similar lump sum payment every year

I think it has improved since then, as the best operators use 2FA via a phone app. The inferior ones send a PIN by SMS and the worst ask you to call them (who wants to do that from a foreign country).

[Gaybutton]

the worst ask you to call them (who wants to do that from a foreign country)

Especially considering the time differences. Many don't have 24/7 service.

[Jun]

Related to that last example, I've finally had enough of that European bank, so I ordered a credit card from a different provider (all online of course).

The new bank accepts my credit card application.
They send me an e-mail telling me to log on to check a secure message. Except, they haven't sent me any log on details.
My last business there was a current account, closed 6 years ago. Anyhow, I tried the old log on details and after receiving an SMS message, it let me in. My new credit card was showing there ! If only everything were this easy.

Of course, as a non-resident, I'm lucky to have just the one bank account in Thailand & don't think it would be easy to move banks, if the need ever arose.

[Gaybutton]

I'm lucky to have just the one bank account in Thailand & don't think it would be easy to move banks, if the need ever arose.

Without the retirement visa I doubt you would be able to. I'd stick with the account you have unless there is a major reason to try to move to a different bank.

Of course, if need be tea money might come in handy with an agent. Good or bad, tea money does manage to open a lot of locked doors. There are times when tea money does work in your favor.

[Dodger]

I'm sure glad none of this pertains to me...

[Jun]

I'm sure glad none of this pertains to me...

I'm also several years away from this restriction. I'd still like full banking facilities if & when I reach 65.

[Jun]

Glad I do things the old-fashioned way when it comes to my banking. Now, I'm even more convinced.

Q1: Is the old fashioned way any safer ?
Q2: Does online banking improve or worsen your account security ?

1 Old fashioned banking
Cheques (obsolete). Easier to forge signatures
ATMs. Many reports of card skimming
Cash -can be stolen or forged
Passbooks. This concept doesn't seem that robust either.

Compare with online banking. We hardly ever hear of hacking. OK, there are scams, but there have been scams for thousands of years and these have nothing to do with online banking.

2 Some of my banking apps give notification of transactions. My main bank was doing it immediately for years. The best example was withdrawing currency from an ATM in Cambodia. I typed in the amount and hit enter. The phone responded quicker than the ATM, with full details of the transaction.
Not all are so quick and even that bank now has some delay. However, I can easily keep an eye on transactions and banking apps usually have a toggle switch so you can disable a lost or stolen card. And if you find the card, you can toggle it back.
So I would argue that online banking can improve security.

I don't quite understand why all transactions are not immediately reported via internet banking as a security measure. Credit card transactions usually have a lag.

[Dodger]

Q1: Is the old fashioned way any safer ?
Q2: Does online banking improve or worsen your account security ?

Q1 Answer: Haven't the foggiest clue, but after doing it this way for a half-century without a single glitch I see know reason to change.

Q2 Answer: Haven't the foggiest clue, but the way I manage my banking also works without a glitch and I don't need any additional security.

Every year when I go to my insurance broker in PTY to pay my annual health insurance premium the girl at the desk always asks me the same question: "Khun Vic Why don't you just transfer the funds to our account on-line to make it easier". And I always give her the same reply: "because it couldn't be any easier than this". She just grins and shakes her head.