TMB Secured CC Account

[doctormann]

Hi Guys

 

Barclaycard UK are closing ex-pat accounts for customers without a permanent, verifiable, UK address.  I find myself in this situation so I am looking for an alternative in the shape of a local CC.  I am retired, therefore no work permit, and I know that I am not eligible for the usual, unsecured, type of CC.  However, I understand that most, if not all, Thai banks will issue a secured CC that charges to a fixed deposit account and acts as a pseudo CC.  The account is locked and credit is only available up to 80% of the secured amount.  Not wonderful - a bit like borrowing your own money - but better than nothing.

 

I have banked with TMB for almost 14 years but, when I enquired about setting up a secured CC account, their main Pattaya branch denied that such a secured CC account even existed.  I didn't think that this was correct so I emailed their customer service department.  I did, surprisingly, get a reply but this just reiterated the requirements for getting an unsecured CC, which was not at all relevant.

 

So, the question is, has anyone on this forum succeeded in getting a secured CC account with TMB?  If so, please give me some pointers as to how you did this.

 

By the way, I know that both Kasikorn Bank and Bangkok Bank do offer secured CC accounts.  I will open an account with one of these if I have to!

 

Any info gratefully received.

 

[KittenKong]

I thought that all credit cards were secured here? Hard to imagine a bank being stupid enough to lend money to anyone in Thailand without security. I certainly would never do it. In fact, I would think twice about doing it even with security.

 

Do you really not have a single friend or relative whose UK address you could use for billing purposes?

[doctormann]

The point is that with a secured CC account the bank isn't lending you anything.  The balance in the secured account is your money that you have deposited and the account is locked.  The money in the account is only accessible by using the secured credit card that the bank issues - you can you 'spend' up to 80% of the secured amount.  The card is not really a credit card at all - you are not getting any credit - but works like a credit card for online booking of air tickets, hotels, etc.

 

As far as a UK address is concerned, the key word is 'verifiable'.  Simply using a friend or relative's address will not work.  Barclaycard did send me a list of acceptable documents for proof of address, none of which are relevant to an ex-pat.  Now, if you owned property in UK and were paying council tax or were receiving official documents to that address, there probably wouldn't be a problem.

 

I don't really use a CC here very much - occasional online purchase - but the main reason for wanting one with a healthy credit limit is to use as a guarantee in the case of a medical emergency.  You may, or not, be aware that any private hospital here will ask for a guarantee of payment before they will treat you.  A CC is ideal for this purpose.

[BritManToo]

19 minutes ago, doctormann said:

The point is that with a secured CC account the bank isn't lending you anything. 

Better off with a debit card.

Don't see any advantage in a secured  CC.

[BritManToo]

24 minutes ago, doctormann said:

Barclaycard did send me a list of acceptable documents for proof of address, none of which are relevant to an ex-pat.

UK Driving Licence, valid 10 years, renewable online only need the UK address for 2 weeks every 10 years. (easy to rent a holiday caravan for a few weeks every decade)

Edited July 21, 2018 by BritManToo

[doctormann]

19 minutes ago, BritManToo said:

Better off with a debit card.

Don't see any advantage in a secured  CC.

 

See my comment about guaranteed payment for medical expenses.

 

18 minutes ago, BritManToo said:

UK Driving Licence, valid 10 years, renewable online only need the UK address for 2 weeks every 10 years. (easy to rent a holiday caravan for a few weeks every decade)

 

UK driving licences expire at 70 years of age and cannot be renewed without a UK address.  I'm not in UK and not likely to be so I don't think that renting a caravan, or whatever, is an option.  I doubt that a holiday caravan would qualify as a permanent, verifiable address anyway.

[KittenKong]

1 hour ago, doctormann said:

The point is that with a secured CC account the bank isn't lending you anything.

Obviously. Hence my belief that all such cards are secured here.

[BritManToo]

1 hour ago, doctormann said:

UK driving licences expire at 70 years of age and cannot be renewed without a UK address.  I'm not in UK and not likely to be so I don't think that renting a caravan, or whatever, is an option.  I doubt that a holiday caravan would qualify as a permanent, verifiable address anyway.

2

At your age, I don't think any place (apart from a cemetery) would count as a permanent address.

[doctormann]

49 minutes ago, BritManToo said:

At your age, I don't think any place (apart from a cemetery) would count as a permanent address.

 

Very true!

 

Still alive - just - and getting increasingly surprised when I actually wake up in the morning!

 

[doctormann]

1 hour ago, KittenKong said:

Obviously. Hence my belief that all such cards are secured here.

 Quite - but getting hold of one is proving a trifle difficult!

[DGS1244]

Why do you need a credit card here, make do with a Debit card, I do with no problems.

[doctormann]

1 hour ago, DGS1244 said:

Why do you need a credit card here, make do with a Debit card, I do with no problems.

 

As I said earlier, the main reason for wanting an actual CC, rather than a debit card, which I do have, is that this is the easiest way of providing a guaranteed sum in the case of a medical emergency.

 

I don't really need a CC for any other reason as there are generally other ways to pay.  You might be surprised though at the number of times a debit card is not acceptable.  Pretty hard to hire a car with a debit card as the rental agency usually needs a guarantee to cover any potential damage or other extra costs.  Hotel bookings are also easier with a CC - some will accept a debit card but a lot will not.  I like having a CC for the convenience factor, not for the actual credit, which I can't get here anyway.

 

[dinsdale]

1 hour ago, DGS1244 said:

Why do you need a credit card here, make do with a Debit card, I do with no problems.

Can you buy an airline ticket / book a hotel room with a debit card?

[KittenKong]

TMB are pretty useless for providing information.

 

If I wanted a secured Thai credit card I would just get one of these:

 

https://www.krungsricard.com/en/Product/CreditCard/Exclusive/Krungsri-Visa-Platinum.html

 

Their mobile app is better too, and they do a better high interest savings account, and there is much more English on their website. And as a bank they are also better than both Bangkok Bank and Kasikorn. In fact the only reason I still have my TMB account is because it is linked to the direct debit for my monthly PEA bill, which for some unknown reason cannot be linked to my Krungsri account.

[Phuket Stan]

Try other banks.....I have had one at Kasikorn Bank for 20 odd years

A friend of mine just got one there....ok its secured but as u say at hospitals etc that's what they want

[doctormann]

18 minutes ago, dinsdale said:

Can you buy an airline ticket / book a hotel room with a debit card?

 

Sometimes - depends on the airline / hotel.

 

11 minutes ago, KittenKong said:

TMB are pretty useless for providing information.

 

If I wanted a secured Thai credit card I would just get one of these:

 

https://www.krungsricard.com/en/Product/CreditCard/Exclusive/Krungsri-Visa-Platinum.html

 

Their mobile app is better too, and they do a better high interest savings account, and there is much more English on their website. And as a bank they are also better than both Bangkok Bank and Kasikorn. In fact the only reason I still have my TMB account is because it is linked to the direct debit for my monthly PEA bill, which for some unknown reason cannot be linked to my Krungsri account.

 

Looks as though I am too old for the Krungsri card - age limit seems to be 65.  Thanks for that info anyway.  I think that Kasikorn will do it - unless they too ave an age limit.

 

13 minutes ago, Phuket Stan said:

Try other banks.....I have had one at Kasikorn Bank for 20 odd years

A friend of mine just got one there....ok its secured but as u say at hospitals etc that's what they want

 

Looks as though Kasikorn is my best bet.

 

[DGS1244]

30 minutes ago, dinsdale said:

Can you buy an airline ticket / book a hotel room with a debit card?

Simple answer is Yes, in the last ten plus years I have never had a problem using a Thai Debit Card in Thailand for anything. If you are worried about a 'reserve' then obtain a Overdraft Facility for a given amount, which is what I have done and no problem hiring cars or paying hospital bills. You just have to discipline yourself to not use the facility for everyday expenses.

[NoshowJones]

5 hours ago, doctormann said:

 

See my comment about guaranteed payment for medical expenses.

 

 

UK driving licences expire at 70 years of age and cannot be renewed without a UK address.  I'm not in UK and not likely to be so I don't think that renting a caravan, or whatever, is an option.  I doubt that a holiday caravan would qualify as a permanent, verifiable address anyway.

People do live in rented caravans all the year round on a permanent basis in the UK. Don't they?

[NanLaew]

5 hours ago, BritManToo said:

Better off with a debit card.

Don't see any advantage in a secured  CC.

The problem is a growing number of businesses, especially hotels, that don't accept debit cards at all. Overseas, the hotels in Singapore make a debit card payment a real hassle.

 

Just noticed a sign at the check out at our local Thai Watsadu (hardware) store and they won't accept debit cards either.

Edited July 21, 2018 by NanLaew

[BritManToo]

12 minutes ago, NanLaew said:

The problem is a growing number of businesses, especially hotels, that don't accept debit cards at all. Overseas, the hotels in Singapore make a debit card payment a real hassle.

 

Just noticed a sign at the check out at our local Thai Watsadu (hardware) store and they won't accept debit cards either.

Why not pay cash.

As for hotels, I've always used Booking.com and they always want cash on arrival.

If they have a bank account (in any country), you can just transfer into their account using Transferwise.

 

The western world wants plastic, Asia wants cash.

I've got used to the difference now.

Edited July 21, 2018 by BritManToo

[Crisu]

Why do you need a credit card here, make do with a Debit card, I do with no problems.

You need a CC if you rent a car.  

Also DTAC need a credit card in my case to charge my phone bill.

 

Some hotels need a CC too as security. If no CC you have to deposit money cash.

 

Some online transactions dont work with a debit card and you need a CC (buy flight ticket ect.)

[dotpoom]

Strange how different Credit Card Companies operate. I have 3 credit cards from back home in Ireland with an Irish address. I have been trying to cancel one of them later because I never use it and don't see the point in paying the government tax every year. "No problem"....they said,... "just change your address to your Thai address and you won't have to pay the Gov. tax as you are not resident there" (in the home country where the card is registered)..

Edited July 21, 2018 by dotpoom

[NanLaew]

25 minutes ago, BritManToo said:

Why not pay cash.

As for hotels, I've always used Booking.com and they always want cash on arrival.

If they have a bank account (in any country), you can just transfer into their account using Transferwise.

 

The western world wants plastic, Asia wants cash.

I've got used to the difference now.

The OP is asking about a secured debit card.

 

Cash is fine for small bills and incidentals but say I am staying 5 nights in a mid-range Singapore hotel and I only have a debit card. That's at least US$700 to US$1000 I would need to hand over before getting the room key. Not really practical at all.

[boonchu]

CC also get you a futher discount at some shops such as Home Pro. This can be an extra 3-10%. Debit cards do not receive a exta discount.

 

 

[BritManToo]

1 hour ago, NanLaew said:

The OP is asking about a secured debit card.

 

Cash is fine for small bills and incidentals but say I am staying 5 nights in a mid-range Singapore hotel and I only have a debit card. That's at least US$700 to US$1000 I would need to hand over before getting the room key. Not really practical at all.

Sorry, I thought we were all poor pensioners.

I baulk at $25 for a room.

 

But really I can't imagine that someone who pays $1,000 for a room has trouble getting a CC or maintaining a UK address.

Edited July 21, 2018 by BritManToo

[alfieconn]

8 hours ago, BritManToo said:

UK Driving Licence, valid 10 years, renewable online only need the UK address for 2 weeks every 10 years. (easy to rent a holiday caravan for a few weeks every decade)

Illegal to obtain  a UK driving license if you are not resident in the UK.

Edited July 21, 2018 by alfieconn

[BritManToo]

6 minutes ago, alfieconn said:

Illegal to apply for a UK driving license if you are not resident in the UK.

I'm calling BS on that one.

Lots of foreigners driving cars in the UK for more than 1 year.

Edited July 21, 2018 by BritManToo

[ferguston]

I have a secured CC with Siam Commercial Bank.(SCB).

The main account holder is my partner and I am the second user.

The credit limit is the full amount of the deposit we made.

If you use a credit card correctly you have the benefit of upto 50 days free interest, loyalty points, special offers from the like of Numchai  and if you shop on Ebay or other sites it is readily accepted.

It is also easy to use PayPal with a credit card.

We applied at the SCB branch in BigC on Sukhumvit, South Pattaya but I'm sure there must be other helpful branches around Thailand.

[NanLaew]

2 hours ago, BritManToo said:

Sorry, I thought we were all poor pensioners.

I baulk at $25 for a room.

 

But really I can't imagine that someone who pays $1,000 for a room has trouble getting a CC or maintaining a UK address.

Me too and a 2-and-half or 3 star hotel is fine for me in LOS.

 

Note I said 5-nights and US$700 to US$1000 for the total, not a grand for a night.

 

Unfortunately, Singapore and Hong Kong are lacking in that either their 2-and-half or 3 star flops are just that, or they are way out in the back of beyond or in some other less salubrious neighborhood. Getting a half decent room in Singapore for less than US$100/night takes  a bit of work.

[NanLaew]

2 hours ago, BritManToo said:

I'm calling BS on that one.

Lots of foreigners driving cars in the UK for more than 1 year.

He's right. If you are a Brit but are no longer physically resident in the UK, by law you are not entitled to keep a UK DL. Keeping a holding address, parents or relative address is not acceptable and the fine is (I think) around a thousand quid.

 

Foreigners can drive in the UK on their own DL for up to 12 months but beyond that, they need to sit the test and get a UK one. I have no idea what the penaltry is for breaking that law.