Air Asia platinum MasterCard query

[mrastoney]

Any one have any idea on closing a bank account like this from abroad? I just want to close this one, and transfer money into my Bangkok bank account....this is one of those “credit cards” that you actually put money into eg 30,000 baht...and then use it with out going over it.

thanks in advance for your comments.

[RichCor]

I'd suggest reading the card's Terms and Conditions about closing, or running down to zero balance.

 

Normally you'd physically present the card in a Bangkok Bank branch and ask them to do a cash advance (or balance transfer) and pull the card's balance as close to zero then walk away. But since you're out-of-country you'll have to use different options, like maybe Transferwise.

[Oxx]

13 hours ago, RichCor said:

like maybe Transferwise

Transferwise does not transfer from Thailand.

[Don Mega]

13 hours ago, RichCor said:

I'd suggest reading the card's Terms and Conditions about closing, or running down to zero balance.

 

Normally you'd physically present the card in a Bangkok Bank branch and ask them to do a cash advance (or balance transfer) and pull the card's balance as close to zero then walk away. But since you're out-of-country you'll have to use different options, like maybe Transferwise.

Why would one consider transferwise to transfer baht deposit from a secured credit card to a Thailand bank ?

[RichCor]

A 'credit card' is supposed to be a universal location use instrument, allowing for purchases or cash advance anywhere on the globe that card is accepted (pending the actual terms and conditions of the card).

 

Normally one CAN'T just pull monies out of Thailand, so one would think Thai-based cards will have limitations when using them out-of-country. But if the OP wants to DEPOSIT funds into a Thai account, pulling/advancing funds from a Thai-based Credit Card then there might be an online service that could accept the CCs bank identifier and allow the transfer.

 

I've never used Transferwise. I assume it would reject the card outright (as the CC# identifies it as a Thai-based card), but for a Thailand-to-Thailand transfer I'm not sure. Some 'other' Thai-based transfer service may work in its stead. 

[treetops]

Can you stick it in an ATM and draw cash or even use it for everyday purchases?  Probably fees to pay but you'll get some value out of it.

[dsf9]

7 hours ago, Don Mega said:

Why would one consider transferwise to transfer baht deposit from a secured credit card to a Thailand bank ?

Because faced with bureaucracy of dealing with Thai banks it would often be more reasonable to load your TW with the credit card take the hit which will be about 4-7% (2% forex if applicable - not sure if loading in THB possible, 3.3% tw loading fee on CC, plus a spread of about 1% if not all in THB) then pay yourself. On the face it's an expensive transfer, but if we're talking 10,000 baht balance, and thus say higher end of 7% - 700baht in fees to TW I'd do that any day then go to bank and deal with insanity - oh you renew your passport please go get police report, to a good day - sign these 1000 sheets of paper.. 

 

 

Edited July 20, 2020 by dsf9

[bkk6060]

Good luck.

These cards are never worth the free T-shirt they give you when you sign up.

[Don Mega]

22 minutes ago, dsf9 said:

Because faced with bureaucracy of dealing with Thai banks it would often be more reasonable to load your TW with the credit card take the hit which will be about 4-7% (2% forex if applicable - not sure if loading in THB possible, 3.3% tw loading fee on CC, plus a spread of about 1% if not all in THB) then pay yourself. On the face it's an expensive transfer, but if we're talking 10,000 baht balance, and thus say higher end of 7% - 700baht in fees to TW I'd do that any day then go to bank and deal with insanity - oh you renew your passport please go get police report, to a good day - sign these 1000 sheets of paper.. 

 

 

Pretty full on method just to transfer money to the BKK bank as the OP was asking about