Frozen Thai bank accounts

[Jun]

I have no apps, bank cards or any kind of internet access. I just withdraw cash when I need it a couple times a week. I’m thinking of getting the apps this trip. Thailand is much more cashless than the USA and is heading more in that direction.

I did have a credit card with one bank but never used it. I thought it might be a good idea in case I was incapacitated and needed hospitalizations. Maybe I’ll get another one but one major bank had a bad hack on its system a few years back and I was relieved that I can’t be hacked with just a pass book.

For my coming trip I’m going to wire money bank to bank. I ran out of money last year.

I have the app (with a nice green colour scheme ) & an ATM card. I try to avoid setting foot in bank branches & usually do so only every few years for ATM card renewal.
I send money to Thailand with Wise, who I strongly recommend. The app is useful for checking the money has arrived. It's often there in the time it takes to pick up the phone & log in with a fingerprint.

I don't run out of money during trips, but it would be easy to send more at any time with Wise.

I've kept the same phone number for several years now. Which means I can remember it, the banking works and it's running the moment I step off the plane.

Incidentally, if any bank has only stopped app access, that's not quite like a "frozen account". You could still get cash out of an ATM and existing regular payments ought to work ?

[Gaybutton]

You could still get cash out of an ATM and existing regular payments ought to work ?

That is what is confusing many, including me. From what I understand you can still get money from an ATM or by personally going to a bank branch, but I'm not certain and also am not certain if that would apply to all the different banks. It might not even apply to different branches of the same bank if the staff is just as confused as everyone else. I also would not want to have to visit a bank branch during the time a lot of people are waiting their turn to try getting their access restored.

As for regular payments, I haven't heard anything about that. Again, who knows how different banks are handling that?

Also again, in my opinion this move to try to halt fraud and mule accounts is hurting a great many innocent people and not doing much good for the bank reputations either, even if what is going on is not the bank's fault at all. And I have not seen any news telling us just how many fraud and mule accounts have been discovered and halted using this method - if any.

In short, this never should have happened and whoever came up with this should consider finding another line of work - before being forced to.

[Dodger]

From what I understand frozen account means frozen account. That means no ATM withdrawals, mobile app or internet banking transactions...zero, until the suspension is lifted.

If you're worried about this possibly happening to you it may be a good idea to just withdraw some surplus cash from your bank and stick it in your room safe until this thing blows over.

[Jun]

That is what is confusing many, including me. From what I understand you can still get money from an ATM or by personally going to a bank branch, but I'm not certain and also am not certain if that would apply to all the different banks.

From what I understand frozen account means frozen account. That means no ATM withdrawals, mobile app or internet banking transactions...zero, until the suspension is lifted.

Two different views.
Has anyone actually confirmed this by talking to people who have had online banking suspended and have tried (for example) ATM withdrawals ?

The extent of the service suspension matters far more than our opinions over what the authorities ought to do. In fact, our opinions are irrelevant, as they will take no notice of those*.
However, once we know the extent of the service suspension, we can plan accordingly.

Being in Thailand and unable to access my phone banking app would be slightly inconvenient.
Being in Thailand and unable to access any of my money would be VERY inconvenient.

Also, if a bank warns customers several times about phone ID irregularities, eventually suspending access to just online banking seems like a reasonable and proportional response. But is that what happens ?

FWIW, my green banking app works and I have no incoming messages suggesting action is needed.

[* We're all going to continue sharing opinions & we all know those opinions have no effect on the outcome]

[Gaybutton]

Two different views.
Has anyone actually confirmed this by talking to people who have had online banking suspended and have tried (for example) ATM withdrawals ?

I haven't talked to anyone, but I did search on Google. From what I read, Dodger is correct. I think, but am not certain even from what I read on Google, if nothing else people under the freeze can physically go to a bank branch and withdraw cash from their accounts. If that is correct, there may be limits on how much can be withdrawn.

This is what I read on Google:

In Thailand, money can often be withdrawn from a frozen account in person at a bank branch, especially if the freeze is due to outdated customer information. However, the ability to withdraw funds depends on the specific reason for the freeze, as freezes can range from a temporary transaction hold to a court-ordered seizure.

My guess is if your account has not been frozen by now, then it won't be. However, that is a guess.

If your account does get frozen you can get it reopened if you can satisfy the bank you are innocent, but when I read SP55's post about the hell he went through to get his account reopened, I would hate to have to go through anything similar.

[Dodger]

Has anyone actually confirmed this by talking to people who have had online banking suspended and have tried (for example) ATM withdrawals ?

Yes...I've talked to over a dozen people who I know personally who have been effected by this, as well as another dozen people who I met during 4 visits to two different branches of my bank within the past 10 days. Note, that the bank branches I visited belong to the same bank...a really big one.

Every person I've talked to has told me the same thing, e.g., frozen means frozen, and that includes the use of banking mobile apps and internet banking for transferring funds, and ATM's. If different banks, or different branches of the same bank are doing things differently (which wouldn't surprise me) that's something I haven't heard about.

The reason for my multiple trips to the bank lately is in preparation for my visa renewal next week. My bank has stopped issuing Bank Letters due to these recent problems which has created some extra work. Aside from this inconvenience I have not had any accounts frozen at the 3 different banks I have accounts with, nor do I expect to.

As a side note: As you know from previous discussions I don't use mobile banking, internet banking, or even ATMs, so things are pretty simple for me. Things like banking scams, mule accounts, frozen mobile apps, etc., mean absolutely nothing to me. Sometimes doing things the old fashioned way in this world of cyber crime isn't so bad.

[Harald]

They start freezing accounts opened recently and are moving towards accounts opened earlier.

[Harald]

You seem to believe that you are safe if playing by the rules. But it works only if there are any rules…

[Dodger]

You seem to believe that you are safe if playing by the rules. But it works only if there are any rules…

Good point, but I can't think of a better way to protect myself than to follow the rules that I know they do have.

[Rocket]

I did have a credit card with one bank but never used it. I thought it might be a good idea in case I was incapacitated and needed hospitalizations.

Don't you have medical insurance?

Yes I do. When I first retired I didn’t realize I was covered overseas.

Unlike my friends and family, I have to pay for my advantage(part c), Medicare plann. Almost$400 a month, in addition to $180 a month for part an and b. Because I never paid into social security. It’s good insurance, blue cross/blue shield, and they cover me in Thailand.
My friend has free part c coverage but it only covers him in his home state.