reader Posted October 18, 2022 Posted October 18, 2022 From Thai PBS World From November 15th, people who want to deposit cash viacash deposit machines (CDMs) in Thailand will be required to identify themselves by inserting their credit or debit cards and entering their Personal Identification Number (PIN) or password. The new measure has been introduced by the Anti-Money Laundering Office and will be applied to all commercial banks, to prevent the laundering of money earned from drug trafficking, illegal gambling or other criminal activity. According to AMLO, the alternative for those who do not have a credit or debit card PIN or password for their bank accounts is to deposit their money and show their ID cards tobank tellers in the branch, which will incur service charges. Many bank customers have expressed disagreement, via social media, with AMLO’s new measure, claiming that itunnecessarily increases the financial burden and inconvenience, because they will have to apply for debit cards. The state-owned Krung Thai Bank is the first commercial bank to confirm the role-out of this new measure and a channel through which the public can seek more information. So far, 11 commercial banks have approved the new measure, among them are the Krung Thai Bank, Siam Commercial Bank, Kasikorn Bank, Bangkok Bank, Bank of Ayudhya, TMBThanachart Bank, UOB Bank, CIMB Bank, the Government Savings Bank, the Government Housing Bank and Kiatnakin Phatra Bank. splinter1949 and vaughn 2 Quote
PeterRS Posted October 18, 2022 Posted October 18, 2022 5 minutes ago, reader said: Many bank customers have expressed disagreement, via social media, with AMLO’s new measure, claiming that itunnecessarily increases the financial burden and inconvenience, because they will have to apply for debit cards. Not only apply for them but pay for them as well. All debit cards will soon require an initial payment and an annual fee of upwards of 300 baht. Quote
iendo Posted October 18, 2022 Posted October 18, 2022 Has this not been always the case? I always used my card at Kasikorn, but that is not to say it wasn't possible without. Quote
gerefan Posted October 18, 2022 Posted October 18, 2022 I too thought this was always the case. I don’t see how you can open the machine without a card! Quote
vaughn Posted October 19, 2022 Posted October 19, 2022 A good move by the Anti-Money Laundering Office. Thailand has become a bit of a hub for laundering over the last decade, cash deposit ATMs without any identity verification were likely a useful tool in that. A major Australian bank in recent years was fined by our regulator for facilitating money laundering by allowing cash deposit ATMs to run transactions to accounts over the AML limits without any flagging or checks by the bank. 7 hours ago, gerefan said: I too thought this was always the case. I don’t see how you can open the machine without a card! These ATMs are a bit special where you can put cash in a chute, key in the account you want it deposited to, then just walk away and the money is added to that account. dscrtsldnbi, reader, vinapu and 1 other 4 Quote
reader Posted October 29, 2022 Author Posted October 29, 2022 From the Thaiger The implementation of Thailand’s new cash deposit machine(CDM) rule will be postponed after customers complained it would cause unnecessary inconvenience and extra fees for people who do not use credit/debit cards. Currently, you can deposit cash into a bank account using a CDM with just an account number so long as the machine belongs to the same bank. vinapu 1 Quote
