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Krungsri blocking online transfers for joint accounts


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Yesterday I attempted to make a simple and quite small transfer from my joint Krungsri account to a third party, and, separately, even to another Thai bank account in my name, but the transactions wer

I did a transfer from my wife's and my joint Krungsi account to a third party just this morning. No problem at all. I regularly do it. There has to be something else getting in the way in your case.

Their point being it isn't 'your' account.

1 minute ago, samtam said:

and irritated by the inability to make a simple transfer from my account.

Their point being it isn't 'your' account.

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Sorry you're irritated. Relax with soothing caresses and an adult beverage. We have lovely views here in Pattaya, too.

 

Well, it seems like it's not such bad policy. Krungsi probably got tired of dealing all the disputes. You may check with other banks and if they still permit such transfers you may change to one of them.

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Can you still transfer at an ATM with card?  I have made 4 online transfers to both BBL and 3rd party accounts from our Bangkok Bank account online since June 10.  I assume your account is set up for either signature rather than requiring both?

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Posted (edited)
1 hour ago, lopburi3 said:

Can you still transfer at an ATM with card?  I have made 4 online transfers to both BBL and 3rd party accounts from our Bangkok Bank account online since June 10.  I assume your account is set up for either signature rather than requiring both?

I just withdrew the (daily) maximum THB200k today in cash from the ATM and walked it round to my OUB account. I will do that continuously until it has the bare minimum.

 

Yes, the account is operable by one signature only. My understanding this is only Krungsri which has arbitrarily introduced this block for online transactions. Going to the ATM to do transactions/transfers to third parties seems so backward, but perhaps I've misunderstood, and you are not suggesting that.

 

3 hours ago, BritManToo said:

Their point being it isn't 'your' account.

Actually, it is. It's operable by one signature.

 

2 hours ago, BigStar said:

 

 

Well, it seems like it's not such bad policy. Krungsi probably got tired of dealing all the disputes. You may check with other banks and if they still permit such transfers you may change to one of them.

Well, I don't suppose it occurred to them to exclude any liability in the myriad of forms we signed when we opened the joint account, the successors to our HSBC accounts after they closed retail business in Thailand. And, yes we operate all other joint HSBC accounts worldwide online or by one signature, probably because they've covered their liability.  

Edited by samtam
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16 hours ago, samtam said:

I just withdrew the (daily) maximum THB200k today in cash from the ATM and walked it round to my OUB account. I will do that continuously until it has the bare minimum.

 

Yes, the account is operable by one signature only. My understanding this is only Krungsri which has arbitrarily introduced this block for online transactions. Going to the ATM to do transactions/transfers to third parties seems so backward, but perhaps I've misunderstood, and you are not suggesting that.

 

Actually, it is. It's operable by one signature.

 

Well, I don't suppose it occurred to them to exclude any liability in the myriad of forms we signed when we opened the joint account, the successors to our HSBC accounts after they closed retail business in Thailand. And, yes we operate all other joint HSBC accounts worldwide online or by one signature, probably because they've covered their liability.  

Legally, to say that something is 'yours' when it belongs to two people jointly is problematic, as in law you hold on trust for the other person rather than actual ownership which would be an unencumbered right

 

The issue is problematic in other countries, as well as Thailand, and simply getting joint account holders to sign forms doesn't necessarily mean the end of any disputes or indeed the bank's responsibility or liability in law (e.g. if one party requires the bank to send SMS or emails to only one of them, so the other party has no idea what is going on and/or they change the terms of the original mandate so that a higher amount can be withdrawn than was agreed on the original mandate).

 

Yes, the forms can say that that can happen, but nevertheless people still don't always appreciate the extent of the sole mandate e.g. that it means that the other person can clear out the account without any reference to the other person. Mostly, the bank avoids liability, but not always (e.g. if one account holder calls the bank to put a hold on transactions, but the system isn't updated or something or if the T&Cs aren't signed by both parties or aren't clear enough or extensive enough etc.)

 

Most lawyers' recommendations (and common sense) would be that you use a joint account for household etc. expenses which is a relatively limited amount rather than have all your savings in a joint account (all your eggs in one basket)

 

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16 hours ago, samtam said:

Going to the ATM to do transactions/transfers to third parties seems so backward, but perhaps I've misunderstood, and you are not suggesting that.

Was trying to find out if indeed no third party allowed or just online service from home internet.  Above posts seems to indicate this is not a general policy so wonder if both of you sent money to a different person at a different bank or perhaps one sent to different person but at same company bank?  We assume you do not have issues with joint account holder?

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17 hours ago, samtam said:

I just withdrew the (daily) maximum THB200k today in cash from the ATM and walked it round to my OUB account. I will do that continuously until it has the bare minimum.

 

Yes, the account is operable by one signature only. My understanding this is only Krungsri which has arbitrarily introduced this block for online transactions. Going to the ATM to do transactions/transfers to third parties seems so backward, but perhaps I've misunderstood, and you are not suggesting that.

 

Actually, it is. It's operable by one signature.

 

Well, I don't suppose it occurred to them to exclude any liability in the myriad of forms we signed when we opened the joint account, the successors to our HSBC accounts after they closed retail business in Thailand. And, yes we operate all other joint HSBC accounts worldwide online or by one signature, probably because they've covered their liability.  

Then take a walk to to your branch and get another account in your name only. I have never understood why people wants joint accounts with Thai gf's or wives. It will one day bite you in the a**.

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1 hour ago, Iamemjay said:

I did a transfer from my wife's and my joint Krungsi account to a third party just this morning. No problem at all. I regularly do it. There has to be something else getting in the way in your case.

Interesting. Online, or through the ATM?

ATM works, but not online.

I just had a confirmation email from my Krungsri account manager confirming that joint accounts cannot be operated online since 8 June.

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1 hour ago, lopburi3 said:

Was trying to find out if indeed no third party allowed or just online service from home internet.  Above posts seems to indicate this is not a general policy so wonder if both of you sent money to a different person at a different bank or perhaps one sent to different person but at same company bank?  We assume you do not have issues with joint account holder?

Just online service. Can transact away through ATM or at the branch. No issue with joint account holder.

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Posted (edited)
33 minutes ago, Max69xl said:

Then take a walk to to your branch and get another account in your name only. I have never understood why people wants joint accounts with Thai gf's or wives. It will one day bite you in the a**.

Yes, we will close the joint accounts and open sole accounts at Krungsri, (where we have other sole accounts for the IMM THB800k purposes).

 

I can't explain joint accounts if your don't understand why couples/spouses have or want them.

Edited by samtam
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1 hour ago, roath said:

Legally, to say that something is 'yours' when it belongs to two people jointly is problematic, as in law you hold on trust for the other person rather than actual ownership which would be an unencumbered right

 

The issue is problematic in other countries, as well as Thailand, and simply getting joint account holders to sign forms doesn't necessarily mean the end of any disputes or indeed the bank's responsibility or liability in law (e.g. if one party requires the bank to send SMS or emails to only one of them, so the other party has no idea what is going on and/or they change the terms of the original mandate so that a higher amount can be withdrawn than was agreed on the original mandate).

 

Yes, the forms can say that that can happen, but nevertheless people still don't always appreciate the extent of the sole mandate e.g. that it means that the other person can clear out the account without any reference to the other person. Mostly, the bank avoids liability, but not always (e.g. if one account holder calls the bank to put a hold on transactions, but the system isn't updated or something or if the T&Cs aren't signed by both parties or aren't clear enough or extensive enough etc.)

 

Most lawyers' recommendations (and common sense) would be that you use a joint account for household etc. expenses which is a relatively limited amount rather than have all your savings in a joint account (all your eggs in one basket)

 

If joint accounts are as dodgy as you suggest, I'm surprised they are in existence anywhere.

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Another absurdity is that with our two joint accounts, one a savings, and one a current account, we cannot transfer online from the joint savings to the joint current, or vice versa.

 

So in essence, Krungsri have made joint accounts only operable by ATM or by cheque, or by a visit to the branch.

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Remember this is Thailand, I have been here 10 plus yrs

 

Many many things <deleted> me off about the way banks operate here, but I have to accept it, normally I find a work around solution

 

Samtam at 200,000 bhat per day, how many MONTHS  are you going to have do the ATM withdrawal and then redeposit !!!!

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