Thai credit card

[samsara]

Ive had a Krung Thai account for some 5 months now, been in Thailand for alittle over 9 months, and would like to obtain a Thai credit card. I was told by the bank that I need to be a resident of Thailand for 2 years in order to apply for a card--can this possibly be true? The application seemed to qualify the condition, but the rule seems absurd. When was the last time a credit card company turned down a potential client...? uhh, never.

Does anyone know ways around this? Im from the States, but have no intentions of going back for some time, and I certainly wouldnt go back for the sole purpose of getting a card.

[JonnieB]

for a foreigner, obtaining a local thai credit card is difficult.  banks have varying requirements...some require non-imm visas and work permits, some a certain number of years residency, some don't do it at all.

if you want a credit card like card, you could get a bangkok bank Be 1st card.  this is actually a debit card linked to a savings account you have at bangkok bank.  there are no requirements to open such a savings account (as opposed to a checking account).  the debit card in run through the VISA network so that you can use it like a charge card at any business that takes VISA credit card transactions.  of course, there is no credit extended and the amount signed for is directly deducted from the savings account.

it is a nice way to control you spending, however, and gives one the convienence of a credit card.  i don't know if there is any fee per transaction.  i do know there is a B250 charge for the Be 1st card itself.

[Mackerel]

I have a savings account with Bangkok Bank and opted to have the debit card also. In addition to JB's post I'd add that you can also use the card abroad to take cash from most ATM's.

I don't use the card here to pay for goods or bills as I worry that the chance of fraud is quite high. What would happen if a farang lost money through debit card use, what would the bank do etc...

[sinbadsailor]

Can you use a Thai card to pay for stuff on the internet?

[lopburi3]

Thai debit cards seem to offer no/little fraud protection (unlike those in US), so I would/have not applied for any.  Believe there are pending bills to fill this void but AFAIK it is still free game on debit card holder accounts.

Debit cards are not accepted for all transactions.  Car rental and even some hotels will not accept them for reservations.  If you want to control spending a credit card can be given automatic debit from an account (even another bank) so that gives you the credit card float as well as automatic payment.

Many internet accounts will not accept cards with foreign address or mail items to an address that is not the holder.  So probably good to have one with US address and another with foreign address.

[JonnieB]

lop and others, can you expand on your security concerns re thai debit cards.  since i do have one and like the convience of using it where visa transactions are taken.  

i think it is almost universal at most ecommerce sites that the shipping and billing address of the card be the same, if someone lifted only the number on the card they could not order anything online with it.  i don't know how it is with thai based ecommerce sites.

that seems to me to be the main danger with bank account linked debit cards.  are there any others i am missing ?

could someone who lifted the number of the card in league with a dishonest merchant just have the merchant run through a large charge and then they both share the money when it is debited to the merchant's account.

[lopburi3]

The main danger with a debit card is that it is your money that is gone.  In the US the banks are quick to restore in a dispute but from my reading of Thai bank rules this would likely not be the case here as the burden of proof seems to be on the card holder.

With a credit card you have your money until proved otherwise - with a debit card you have to prove otherwise to get your money back.  And the bank/card does not have much incentive to help in that case.

As for internet ordering - I never send flowers to my listed address but they all accept my debit card for payment!

[lopburi3]

since i do have one and like the convience of using it where visa transactions are taken.  

If you want to use here would recommend that you keep another account with the bulk of your savings.  Use that to transfer amounts into the bank card account as needed.  As we all know the time that it has all been taken will be the same time that you fall ill and need for emergency, the water buffalo dies and the lawyer wants his fees.

[JonnieB]

yes, i guess that is the answer, have 2 accounts and set-up one with the Be 1st VISA debit card.  in the account linked to the debit card, keep some minimum amount to cover your anticipated visa transactions.  keep the amount small enough that if you were to get cleaned-out because of some fradulent transactions, it would be money you could afford to lose.  then just transfer money from the one accoutn to the other as needed.

[Ice]

I had huge problems using my Thai Farmer Bank Visa Electron in S-Korea... all atm's i tried gave me the error "Barred contry", "Banned contry" or "Illegal card".  The machenes took my European Visa Electron without hesitation.  My advice is do not rely soly on a Thai ATM card when traveling abroad.