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

[Gaybutton]

I think, but am not sure - if you already have any established Thai bank accounts, this limit may not include you. The article does specify new accounts and specifies transfers via mobile phone apps. You need to check with your bank about it.

Apparently if it does include you, if you'll need to go to your bank branch if you wish to make any larger transactions.
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Thailand tightens mobile banking transfer limits

B50,000 daily cap for children and elderly opening new accounts part of fraud-protection policy

by Somruedi Banchongduang

August 19, 2025

The Bank of Thailand has set a daily transfer limit of 50,000 baht for children and the elderly using mobile banking, seeking to curb financial fraud.

The new customer profiling system will set transfer limits based on the risk profile of each customer segment, said Daranee Saeju, assistant governor for payment systems policy and financial consumer protection.

It divides mobile banking users into three groups: suspected fraudsters, general users and vulnerable customers. Vulnerable customers include those under 15 years of age and over 65.

Daily transfer limits are categorised into three tiers: under 50,000 baht (S), under 200,000 baht (M) and above 200,000 baht (L). The limit assigned depends on the customer’s risk profile and each bank’s know-your-customer (KYC) assessment.

Ms Daranee said the measure has already been applied to new mobile banking applicants, while existing users must gradually comply by the end of this year.

Nevertheless, each bank will determine customer risk classifications based on its own considerations, and customers with good financial records will not be affected.

“The transfer limit depends on customers’ financial behaviour,” said Ms Daranee. “For example, banks may start with lower limits for new or inactive clients. Meanwhile, regular customers can continue transactions as usual.”

Customers seeking higher transfer limits can request an upgrade from their banks. However, the central bank requires banks to pay special attention to vulnerable groups, as they are more susceptible to fraud.

Thailand has around 12 million mobile banking users. Existing central bank safeguards cap mobile banking transfers at 50,000 baht per transaction (with facial recognition required) and 200,000 baht per day in total.

Financial fraud remains a serious concern, said Ms Daranee. In June alone, 24,500 scam cases related to money transfers were reported, causing total losses of 2.8 billion baht — an average of 114,000 baht per case. The largest single fraudulent transfer amounted to 4.9 million baht, according to the central bank.

Across the region, victims who transferred more than 50,000 baht per transaction to mule accounts accounted for the largest share of fraud cases at 22%, but made up as much as 76% of total losses.

On average, scammers needed only three minutes to siphon off half of the stolen funds, while victims typically took 19–25 hours to report the fraud.

For the first six months of this year, children under 15 were involved in 78,468 financial scam cases, while victims over 65 accounted for 416,453 cases.

https://www.bangkokpost.com/business/ge ... fer-limits

[Jun]

Isn't 65 setting the age limit a bit too low ? What percentage of people are incapable of running a bank account at that age ?
There's not much board members can do, but I hope there is some push back from elderly Thais.

Also, what some banks do in the UK is ask us a few questions online. So anyone who is incapable of giving the right answers is presumably restricted in what they can do. That seems fairer.

[Gaybutton]

Isn't 65 setting the age limit a bit too low ?

I think it is wrong to set a limit based on age at all. While some may be losing their ability to make proper judgments and decisions, what about the people who are still just as lucid as ever?

I believe this is yet another one that has not been properly thought through. I have no idea upon what basis 65 became the magic number. Probably an arbitrary decision somebody came up with, with no basis in fact or creditable research of any kind. People of any age can become victims of scams and fraud.

Again, rather than causing problems and penalizing people due to their age, what the banks ought to be doing is finding ways to protect people from fraud via the bank's own security.

Are they truly expecting people to be grateful for this kind of "protection"?

[Dodger]

Hey...a few months ago you guys were saying that mobile banking was totally risk free. This came on the heels of me stating that I never have and never will use mobile banking because of risks associated with fraudsters.

Here's a statement from the article you posted:

"Financial fraud remains a serious concern, said Ms Daranee. In June alone, 24,500 scam cases related to money transfers were reported".

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

[Gaybutton]

Glad I do things the old-fashioned way when it comes to my banking.

I'm just the opposite. I do nearly everything via mobile banking, ranging from paying bills, online ordering, to Prompt Pay.

I have never had a problem. When I hear about people losing money on phone apps, it is not because criminals hack accounts. It's due to people falling for scams. They either turn over their money or provide the scammers with all the information they need to access their accounts. As long as you are not stupid enough to fall for scams, you're safe. Sorry, but Dr. Mweleke Mwenene from Nigeria doesn't get to deposit his $75-million into my bank account.

Also, banks are starting to require facial recognition for phone apps. I feel even more protected. Somehow I have a feeling nobody else out there has a face that looks like mine. That's good. One face like mine is already one face too many . . .

[Gaybutton]

I was in my bank branch this morning, spoke with the manager, and asked about the 50,000 baht restriction. She said as of September 1 you can change your limit to whatever you want.

I asked if that applies to all Thai banks. She said she is not certain, but thinks yes, it will apply to all Thai banks.

I didn't even try to ask how the restriction for one month makes sense. I knew whatever answer I'd get, it still wouldn't make sense . . .

[Jun]

"Financial fraud remains a serious concern, said Ms Daranee. In June alone, 24,500 scam cases related to money transfers were reported".

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

Don't confuse hacking with scams.

There were scams even when everyone was using medieval methods of banking, such as cheques. People who are dumb enough to fall for scams will do so no matter how they handle their money.

I think my last visit to one of my banks would have been to get a new ATM card from Kasikorn. My main UK bank has no branches. I've not set foot in the other one for over 3 years. My savings account is online. My stockbrokers are online.

[Dodger]

Don't confuse hacking with scams.

There were scams even when everyone was using medieval methods of banking, such as cheques. People who are dumb enough to fall for scams will do so no matter how they handle their money.

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.

These 17 year old techno-wizards who design "hacks" are the same ones that Microsoft and Google are paying seven digit salaries to help protect their own platforms.

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.

[Gaybutton]

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.

If scammers are that clever, what makes you think they won't be able to hack your regular bank account too? Maybe you ought to consider closing your bank account entirely before that happens. After all, they can't hack under your mattress . . .

[Dodger]

.......Maybe you ought to consider closing your bank account entirely before that happens. After all, they can't hack under your mattress . . .

They can if they have a machette...555