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50,000 Thai Baht "Daily Limit for Removing Funds" from Banks?
Transcript of the above video:
As the title of this video suggests, we are discussing banking here in Thailand. I thought of making this video after reading a recent email from a viewer. Quoting directly: "Recently informed that my bank - (I am going to leave names out; it's not the usual suspect though, let me just put it that way. It is not the big bank that is the usual suspect when I am talking about these videos sometimes, but we will leave them nameless) - "Recently informed by my bank that my daily limit for removing funds for any reason has being set at 50,000 baht. I have had 1.5 million on deposit there for several years; really rarely had any transactions at all. I use the account to renew my Visa each year and keep the 800,000 Baht balance intact for the entire year. The point is that" - and this is in caps - "IT IS MY MONEY". Yeah, yes sir. I get you. Quoting further: "I need to find a friendly Bank." Then he says, "keep those videos coming Ben, I watch them all." Well tip of the hat to you sir, thank you very much. I will leave you nameless for your own purposes.
Yeah, it is your money, and I don't know if perhaps he is conflating the recent digital transfer ceiling with just the ability to move money around generally. I don't know. I don't know, because so many of these rules are coming out. Please, in the comments below, if anybody out there is having the same issue i.e. that they are being capped out at 50,000 per day for anything, not just digital transactions, I would be curious to know that. I am thinking again, he might be conflating this with the digital ceiling, not necessarily, it's a ceiling generally. That being said, I don't know that that would make me feel much better, for exactly the reason this person elucidated which is, IT'S MY MONEY.
I really hope, I am very hopeful the Thais are going to vote in this upcoming election with this banking stuff in mind at the very least, because this is affecting locals too. This isn't just a foreigner problem. And I have got to imagine Thais are not thrilled about it. My personal opinion is there has been no popular sort of popular interaction or popular response with regard to OECD generally much like nobody was out there campaigning saying, "we are going to bring in the World Economic Forum to make everybody's lives a living hell." I am hopeful and I am optimistic frankly, that this upcoming election might be something of a rebuke against some of this globalist nonsense. Again remains to be seen, but yeah, I couldn't agree with you more sir, it is your money, and I think all of this is wrong. I think banks need to remember we are the customer. You make money off of us; we are the profit margin; you are the overhead. Don't forget that. At the end of the day, that's how it is and if they keep doing this stuff, it's not only going to put people off of doing business here but just coming here generally. If people think it's just a big like neo-soviet hassle to go down and get 1,500 bucks out of a bank, why mess with it? There are plenty of other countries to go to in the world, or maybe just go back to your own country. I am not saying do that, but Thailand really needs to rethink this on a policy level, because I think it has tremendous potential to do really serious harm to both the economy, as well as society, here in the Kingdom of Thailand.
