SCB introduces prepaid card for tourists

[webfact]

SCB introduces prepaid card for tourists

 

   

BANGKOK,  (NNT) - In the latest move to realize the cashless society concept in Thailand, the Siam Commercial Bank has joined hands with The Mall Group and VISA to introduce the SCB M VISA PREPAID TOURIST card, a reloadable debit card product offering greater convenience to foreign visitors to Thailand when making payments.

 

Siam Commercial Bank’s (SCB) First Executive Vice President Jamaree Ketrakool has revealed the SCB M VISA PREPAID TOURIST product will offer privileges catering to foreign tourists visiting and shopping in Thailand. The card can be issued after an easy application process which only requires the applicant’s passport at the Emporium, the EmQuartier shopping malls, Paragon Department Store, or at SCB’s currency exchange kiosks at Don Muang Airport.

 

The debit card will be valid for five years after issuance, allowing cardholders to use the card every time they return to Thailand. The card has no fees, and can be topped up at any service center inside any the Mall Group’s shopping malls, with the minimum top up amount being 100 baht. Cardholders won’t have to worry about currency exchange rates as the top up and all spending will be done in the Thai Baht, and will receive points and discounts provided by the Mall Group and other privileges from VISA in 200 countries worldwide.

 

The SCB aims to issue 50,000 cards and have 600 million baht in total spending by visitors using this card in one year.

 

-- © Copyright nnt 2019-05-16

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[gunderhill]

and after 5  years they keep the change, oh yes   nice  little  earner.

[baansgr]

Great idea but from from ground breaking. Prepaid cards have been around for years, depends on XE if beneficial or not

[ezzra]

If it can be used in bars, pubs and and the ladies of the night that will be a very useful card to have... 

[Chang_paarp]

So tourists will use their cards from their home country to buy this fantastic product?

[KhaoYai]

55 minutes ago, webfact said:

In the latest move to realize the cashless society concept in Thailand

I may live to eat my words but somehow I don't see the 'cashless society concept' catching on in Thailand. A very large percentage of the workforce don't pay tax and many businesses run 'double book keeping'.

 

'Cash' transactions form part of the black economy which is massive in Thailand.  It goes on from the smallest shopkeeper up into large corporations.  My ex Mrs worked for a fairly large Japanese O.E. auto parts manufacturer - her basic salary was paid through the books at a level that kept her out of income tax, the rest, including overtime was paid in cash.

 

I don't doubt that a cashless society is coming in the West but in Asia?  I doubt they could make it work. I wonder if the B.I.B will accept SCB's new card to pay a speeding ticket?

[edwinchester]

If it includes travel insurance count me in.

[Lingba]

1 hour ago, ezzra said:

If it can be used in bars, pubs and and the ladies of the night that will be a very useful card to have... 

yes..I can just see the ladies carrying portable "Square" swipe attachments/app for their mobile phones..very convenient indeed

[bluesofa]

3 minutes ago, Lingba said:

1 hour ago, ezzra said:

If it can be used in bars, pubs and and the ladies of the night that will be a very useful card to have... 

yes..I can just see the ladies carrying portable "Square" swipe attachments/app for their mobile phones..very convenient indeed

Hmm, I can see this degenerating into discussion about how/where to swipe the card.

[inactiveposter]

And you took it there....

[kotsak]

42 minutes ago, Lingba said:

yes..I can just see the ladies carrying portable "Square" swipe attachments/app for their mobile phones..very convenient indeed

The swipe is located between the legs ???? First credit card swipe equipment in the world.. 

[mikebell]

So ex-pat farangs have to keep 800K tied up in a Thai bank for 5 months?  Farang tourists prepay to holiday in Thailand?  No wonder the baht is riding high and Thailand is struggling to export anything.

[monkeycu]

2 hours ago, ezzra said:

If it can be used in bars, pubs and and the ladies of the night that will be a very useful card to have... 

Makes me wonder where you will swipe it on the girls  

[peter14]

 Bangkok Bank and their stupid Union Pay card That none want! Here you go!  here comes your problem!  

[bluesofa]

Just now, peter14 said:

 Bangkok Bank and their stupid Union Pay card That none want! Here you go!  here comes your problem!

Spot on with that.

 

When I've spoken to the BKK Bank call centre in the past, saying there was no way I wanted one when my Visa debit card expired, I kept referring to it as "Useless Pay".

The girl understood my comment, but obviously wasn't allowed agree with with me. I see they are now offering Mastercard - thank Buddha for that!

[SABloke]

2 hours ago, KhaoYai said:

I don't doubt that a cashless society is coming in the West but in Asia?  I doubt they could make it work.

Heard of China? Some stats even show that up to 70% of RURAL China is now using e-payments over cash. It seems that only Sweden outshines China in terms of being cashless.

[geoffbezoz]

I trust that SCB in the small print on application will include the note

 

"Unlike your home contries Thailand does not have a similar Data Protection Act and the confidential details on your pre-paid card application will be sold to third parties"

[PerkinsCuthbert]

Dang! Just what my wallet, already stuffed with license cards, credit cards, debit cards, fx cards, MRT and BTS cards, ATM cards, VIP cards, privilege cards and assorted other cards, needs - another card. No doubt it comes with another password or PIN to remember too.

[bluesofa]

Just now, PerkinsCuthbert said:

Dang! Just what my wallet, already stuffed with license cards, credit cards, debit cards, fx cards, MRT and BTS cards, ATM cards, VIP cards, privilege cards and assorted other cards, needs - another card. No doubt it comes with another password or PIN to remember too.

Doesn't everyone use 12345678?

It's the world's most popular password.

[Misterwhisper]

Why would I need a prepaid debit card valid for 5 years during my 3-week vacation? Also, what happens once my holiday is over? Can I just hand in the card at the SCB counter in the airport and have my remaining balance paid out in cash? I don't think so. So much for "The Must - Have ESSENT" (take a closer look at the background in the OP pic). 

[4evermaat]

Can it be used outside of Thailand?   What are the fees?

 

Anyone have a fee schedule / TOS in English?  Or link to the relevant SCB page?

 

--------------------

edit:  https://www.scb.co.th/en/personal-banking/cards/debit-cards/scb-m-visa-prepaid-card.html

and attached pdf.  

 

An interesting note:  "...This card is not valid for ATM withdrawals"

 

So how do you get your money out of the card (besides spending?

scb-m-visa-prepaid-card-en.pdf

[Burma Bill]

3 hours ago, peter14 said:

 Bangkok Bank and their stupid Union Pay card That none want! Here you go!  here comes your problem!  

Bangkok Bank now issue Mastercard debit cards because of the problems with the dreaded Chinese Union Pay. I still have my Bangkok Bank Visa Debit card which is valid until 01/22. It is great to see "Visa" and not "Union Pay"

[4evermaat]

12 minutes ago, Burma Bill said:

Bangkok Bank now issue Mastercard debit cards because of the problems with the dreaded Chinese Union Pay. I still have my Bangkok Bank Visa Debit card which is valid until 01/22. It is great to see "Visa" and not "Union Pay"

 

What made them "abandon" Visa for the debit card?  They had MC also, but why not allow customers to obtain Visa if they have it.

 

I don't blame them for experimenting with CnUP....maybe to diversify against Western influence???   It's a great option....I think if it came from the top (Bank of Thailand) or if more banks simultaneously made the offering, they would be able to work out more of the kinks.

[mtls2005]

5 hours ago, edwinchester said:

If it includes travel insurance count me in.

 

Previous incarnations of this type of card, and there have been more than a few, have included basic travel/accident insurance.

 

Krung Thai Miracle Card

 

25.  Insurance for Cardholder
- Personal Accident Insurance within the first 7 days of first entry to Thailand or issuance of card whichever is the latest date.
- Cover up to 1,000,000 Baht and First Aid Medical Expenses up to 10,000 Baht.
- Cashless of First Aid Medical Expenses with 260 high standard hospitals throughout Thailand, see more details at www.ktb.co.th.
- Limit of cover on this insurance; maximum on a tourist per one card only.

 

 

There are other stored value cards available, mostly for Thais. Called e-Money or Cash cards.

 

 

 

 

 

[TallGuyJohninBKK]

7 hours ago, baansgr said:

Great idea but from from ground breaking. Prepaid cards have been around for years, depends on XE if beneficial or not

 

You need to read the article more closely...  It specifically says top-ups must be done in Thai baht and will not have any fees.
 

Quote

 

The card has no fees, and can be topped up at any service center inside any the Mall Group’s shopping malls, with the minimum top up amount being 100 baht. Cardholders won’ have to worry about currency exchange rates as the top up and all spending will be done in the Thai Baht,

 

 

The problem with pre-paid cards, in general, is that they usually DO have annual fees, top-up fees, foreign currency fees and more, generally making them financially unappealing.

 

In this case, at least based on the OP article, there doesn't appear to be too many downsides, other than the 5 year card expiration date....  But I'd want to see ALL the details of the new SCB card before offering any judgment, considering how poorly written and inaccurate these kinds of announcements often are.

 

[onemorebeer]

6 hours ago, KhaoYai said:

I may live to eat my words but somehow I don't see the 'cashless society concept' catching on in Thailand. A very large percentage of the workforce don't pay tax and many businesses run 'double book keeping'.

 

'Cash' transactions form part of the black economy which is massive in Thailand.  It goes on from the smallest shopkeeper up into large corporations.  My ex Mrs worked for a fairly large Japanese O.E. auto parts manufacturer - her basic salary was paid through the books at a level that kept her out of income tax, the rest, including overtime was paid in cash.

 

I don't doubt that a cashless society is coming in the West but in Asia?  I doubt they could make it work. I wonder if the B.I.B will accept SCB's new card to pay a speeding ticket?

Cashless society = a dumb society 

 

what to do if you loose your card and you have only one,or the card terminal doesn’t work, or the the electricity is gone there are 1000s or reasons to a cashless society won’t work, we can’t  simply trust technology.

 

back in the days I used mostly card, I didn’t really think about how much money I spent, I didn’t have the feeling that I have to cash which mean when I hold cash In my hands im less likely to do a spontaneous buy, now I can save money every month something I couldn’t do before.

 

the laws in Norway I think about accepting cash changed not to long ago which means every shop etc must accept cash, the law have been in place for many decades but haven’t been enforced until recently, but there are no law that says shop needs to accept cards which is good.

 

cash have come to be forever, and if one day cash are gone your money also would most likely also be gone..

 

cash is king!

[TallGuyJohninBKK]

39 minutes ago, 4evermaat said:

Can it be used outside of Thailand?   What are the fees?

 

Anyone have a fee schedule / TOS in English?  Or link to the relevant SCB page?

 

--------------------

edit:  https://www.scb.co.th/en/personal-banking/cards/debit-cards/scb-m-visa-prepaid-card.html

and attached pdf.  

 

An interesting note:  "...This card is not valid for ATM withdrawals"

 

So how do you get your money out of the card (besides spending?

scb-m-visa-prepaid-card-en.pdf 687.17 kB · 0 downloads

 

Interesting question....

 

A. you don't...???

B. counter withdrawal???

[onemorebeer]

[TallGuyJohninBKK]

One other detail/hazard about Thai banks' lack of consumer protection policies for their debit cards, including their prepaid cards:

 

Quote

In case of lost cards, cardholders may be at risk of losing the amounts
stored in their cards, so please contact The SCB M Call Center at 1295 to
freeze any lost cards.

 

The Thai banks basic policy on debit cards is any activity on the card BEFORE you contact them to freeze the card is considered YOUR responsibility, even if the card has been lost or stolen and someone else made the charges.

 

So if someone pickpockets you, and it takes you an hour to realize you're wallet is gone and the card with it, and then you contact the back immediately at that point, the thief would have had an hour plus to drain your card or account at will.... especially since store clerks here almost never bother to ask for ID or check purchase receipt signatures vs the back of card signatures.

 

[bluesofa]

1 hour ago, Burma Bill said:

Bangkok Bank now issue Mastercard debit cards because of the problems with the dreaded Chinese Union Pay. I still have my Bangkok Bank Visa Debit card which is valid until 01/22. It is great to see "Visa" and not "Union Pay"

If your Visa debit card has a six digit pin and a microchip, that should be OK.

If however if has a four digit pin and no microchip, it will cease to work after 31 December 2019, irrespective on the expiry date on the card. I spoke to BKK Bank call centre about this months ago.

All part of the Bank of Thailand's policy to use an alleged 'more secure system'.