Superrich Struggles as Savvy Tourists Opt for Travel Cards

[HauptmannUK]

As far as I am concerned 'cash is king'. In most countries it is now difficult to deposit substantial amounts of cash without getting interrogated by the bank.   In the UK/EU they start wanting a paper trail for deposits greater than €10000.  Depositing multiple amounts of cash can also trigger a SAR (suspicious activity report) and lead to account closure.  I bring cash into Thailand and change to THB over a week or two at SR, Damini and various branches of TT.  Thai banks seem less concerned about large deposits (I've deposited ฿3M in one transaction without a problem).  I try to avoid any kind of electronic payments/transfers, but its getting more difficult.

[richard_smith237]

1 hour ago, Lorry said:

It's not only the travel card.

 

I have recently travelled to Dubai, UK, France, Switzerland, Doha, Japan....   and only used cash in Japan about 25% of the time...    the 'travel card' was extremely convenient...   as is using a credit card.

I'm probably about 95% cashless now - its incredibly convenient.

 

But, its still useful to have cash at hand... and with the travel card you can with draw that any time, so no issue...   there is no need to carry a load of currency to your destination any more.

 

1 hour ago, Lorry said:

The travel card is just another brick in the wall.

 

Paranoia...   convenience is not the same as this 'government control' that some of you are becoming neurotic about.\

Seems like some people watched 1984 a little too much.

 

1 hour ago, Lorry said:

 

To buy a BTS 30 days pass you now need to download the rabbit app and pay from your  bank account through the app (you then still have to go to the BTS counter to get your trips - so it's not even more convenient for the  customer).

 

Sounds like they stuffed that one up...    At some point though they'll get it working so your phone works as the 'BTS card / Token' itself - just as they do in other countries, then its very convenient - its just a matter of time stepping in that direction.

 

1 hour ago, Lorry said:

Paying 7/11 with your phone is inconvenient (see the relevant thread), but it's the thing to do.

 

The 'relevant thread' highlights both sides of that argument, many find it a lot more convenient.

 

1 hour ago, Lorry said:

Grab costs twice the price of a Taxi Meter, and you give them your data for free.

 

Taxi-Meters don't drive into my Mooban in the hope of picking up a customer - Grab on the other hand come right to your door.

 

And... what data am I giving them that I'd have any concern about, my trip history ?...  Credit Card details.. Name, DOB..   is that really an issue ?

 

1 hour ago, Lorry said:

Small, very small bricks.

 

Paranoid, very paranoid...     

[Lorry]

17 hours ago, richard_smith237 said:

 

I have recently travelled to Dubai, UK, France, Switzerland, Doha, Japan....   and only used cash in Japan about 25% of the time...    the 'travel card' was extremely convenient...   as is using a credit card.

I'm probably about 95% cashless now - its incredibly convenient.

 

But, its still useful to have cash at hand... and with the travel card you can with draw that any time, so no issue...   there is no need to carry a load of currency to your destination any more.

 

 

Paranoia...   convenience is not the same as this 'government control' that some of you are becoming neurotic about.\

Seems like some people watched 1984 a little too much.

 

 

Sounds like they stuffed that one up...    At some point though they'll get it working so your phone works as the 'BTS card / Token' itself - just as they do in other countries, then its very convenient - its just a matter of time stepping in that direction.

 

 

The 'relevant thread' highlights both sides of that argument, many find it a lot more convenient.

 

 

Taxi-Meters don't drive into my Mooban in the hope of picking up a customer - Grab on the other hand come right to your door.

 

And... what data am I giving them that I'd have any concern about, my trip history ?...  Credit Card details.. Name, DOB..   is that really an issue ?

 

 

Paranoid, very paranoid...     

Sorry, this is not paranoia.

It's just good old-fashioned privacy.

 

When the Dutch government asked everybody's religion, the Jews saw no problem and dutifully made an "x" at "Jewish". The were living in a democratic country, after all.

When the Nazis later occupied this country,  they found this's lack of paranoia very convenient. 

All they had to do was round them up.

[richard_smith237]

4 minutes ago, Lorry said:

Sorry, this is not paranoia.

It's just good old-fashioned privacy.

 

When the Dutch government asked everybody's religion, the Jews saw no problem and dutifully made an "x" at "Jewish". The were living in a democratic country, after all.

When the Nazis later occupied this country,  they found this's lack of paranoia very convenient. 

All they had to do was round them up.

 

You've compared digital payments (travel card) to the Holocaust...     

 

Thats one sick leap... 

 

 

 

Edited May 17 by richard_smith237

[Lorry]

6 minutes ago, richard_smith237 said:

 

You've compared digital payments (travel card) to the Holocaust...     

 

Thats one sick leap... 

 

 

 

Just a brick in the wall, as I said.

A small brick.

The holocaust needed many, many bricks.

 

The example of the Dutch jews is very instructive.

 

As for travel cards: if I were a Russian or Ukrainian abroad, I would not want anybody to know where I am. Or as few people as possible.

And people from my country may soon join Russians amd Ukrainians.

Edited May 17 by Lorry

[Korat Kiwi]

On 5/15/2024 at 5:04 PM, brfsa2 said:

Travel cards are amazing if you can use them!

I just started using SCB Planet Travel card (https://www.scb.co.th/en/personal-banking/cards/prepaid-cards/planet-scb-card.html) It's sooooo good!!!

 

It's so good because you basically use the SCB app to Top up any currency, anytime, anywhere, without the 2-4% that most Cards use for foreign currencies. 

 

Example: 

 

I went to Japan in December last year, we bought some good amount of JPY from the SCB app and used the card every where in Japan, enough to pay the houses we stayed, food and transportation. 

 

Twice during the Trip we topped up the card with more JPY, right from the SCB app while still in Japan using 5G.

In the end we came back to Thailand only a few JPY left and I exchanged it back to THB. not a single coin!

 

Major benefits:

 

- No need to handle coins or paper money

- No need to handle Superrich queues

- No need to pay for extra exchange fees

- Easy to track what you spend in the SCB App

- SCB Card works everywhere (except inside taxis or buses)

 

If you need cash, no problem, use your SCB planet card to withdraw cash in Japan ATMs! we did that as well to pay at some shops that refused cards 😄 

 

PS: I'm no sales from SCB or have any links with them, I'm just an IT Infosec professional and I advice what is best in IT and security.

Sounds very similar to Wise cards. 

[richard_smith237]

2 hours ago, Lorry said:

Just a brick in the wall, as I said.

A small brick.

The holocaust needed many, many bricks.

 

This is nothing like the holocaust...    a Travel Card is a layer of convenience.

 

This brick in the wall nonsense is ridiculous....

 

2 hours ago, Lorry said:

The example of the Dutch jews is very instructive.

 

No its not, its completely unrelatable to anything discussed in this thread.

 

2 hours ago, Lorry said:

As for travel cards: if I were a Russian or Ukrainian abroad, I would not want anybody to know where I am. Or as few people as possible.

And people from my country may soon join Russians amd Ukrainians.

 

So you don't use debit or credit cards ?... you use 100% cash...????

... how do you get hold of that cash ???

- ATM  ???...  You've left a digital footprint.

- Carry it in with you ???... You've left a digital footprint (with the airlines and immigration).

 

So... how on earth would you to travel anywhere and 'not leave any footprint' ???

 

 

 

 

[lordgrinz]

1 hour ago, Korat Kiwi said:

Sounds very similar to Wise cards. 

 

 

Which is why I ordered one, plus the account balance in a FDIC insured and 4.87% interest bearing sweep bank program is a bonus.

[DonniePeverley]

Why do they have to count the money 4-5 times ?

[SingAPorn]

The moral of this thread is ? ...when comming to Thailand, bring in cash only and if you have a bank account, close it. They really do not deserve to get our money considering the lack of respect shown to foreigners here.

[Chivas]

More and more have their own Thai accounts and transfer in via Wise and other remitters and withdraw cash from the bank branches or ATMs

 

Last trip coming out in January I had not one single British bank note with me nothing at all as never use cash within UK normally all via card

Edited May 17 by Chivas

[Lorry]

4 hours ago, richard_smith237 said:

 

This is nothing like the holocaust...    a Travel Card is a layer of convenience.

 

This brick in the wall nonsense is ridiculous....

 

 

No its not, its completely unrelatable to anything discussed in this thread.

 

 

So you don't use debit or credit cards ?... you use 100% cash...????

... how do you get hold of that cash ???

- ATM  ???...  You've left a digital footprint.

- Carry it in with you ???... You've left a digital footprint (with the airlines and immigration).

 

So... how on earth would you to travel anywhere and 'not leave any footprint' ???

 

 

 

 

It is not possible to leave "no" digital traces. 

I don't even try to minimize them.

But I don't make them unnecessary big.

 

Especially if the "convenience" you are talking about does not exist imho.

(As for the smart idea to integrate even the BTS card into your  brain  phone I recommend https://www.ft.com/content/26be349d-4717-4815-a221-a749e29de2b2)

 

[StayinThailand2much]

2 hours ago, DonniePeverley said:

Why do they have to count the money 4-5 times ?

 

Nobody knows... Went to an SCB branch in Bangkok a few years ago. Branch manager helped me to do a deposit at one of the counters to pay a bill. - I hand him the money. He gives it to the cashier. Cashier counting the money 4-5 times, then counting my change 4-5 times. Branch manager counting the change 4-5 times too, before handing it to me... Change incorrect! (On the plus-side, in addition to not being able to count, they also weren't able to speak English.)

 

 

Edited May 17 by StayinThailand2much

[DonniePeverley]

10 minutes ago, StayinThailand2much said:

 

Nobody knows... Went to an SCB branch in Bangkok a few years ago. Branch manager helped me to do a deposit at one of the counters to pay a bill. - I hand him the money. He gives it to the cashier. Cashier counting the money 4-5 times, then counting my change 4-5 times. Branch manager counting the change 4-5 times too, before handing it to me... Change incorrect! (On the plus-side, in addition to not being able to count, they also weren't able to speak English.)

 

 

 

For me, i hand over cash. Cashier counts it in the machine. Then counts it manually. Then turns the notes over and counts again. Then back into the machine for another check. Then a manual check on each note to look for marks. Then back into the machine. Then just for safety another manual count. And just to be extra sure another manual count. And let's just do another machine count one more time. Oh go on, another machine count. 

 

This is just time consuming. There was a place next door, who were given a slight marginally lower rate, but she just counted it once in the machine and i was on my way. 

[StayinThailand2much]

2 minutes ago, DonniePeverley said:

This is just time consuming. There was a place next door, who were given a slight marginally lower rate, but she just counted it once in the machine and i was on my way. 

 

Maybe that's why they have so many employees, to 'Wai', and count many times, wasting so much time. In other countries such banks would be bankrupt by now. How they manage to stay profitable like this, I will never know...

[sidneybear]

Some standard debit cards give good exchange rates and no fees when used internationally. Australia's Macquarie Bank is an example.