Spreaders of Conspiracy Theories: Unmasking the Motivations Behind the Lies

[BigJohnnyBKK]

I've just completed the process, so thought I'd post to help others. This isn't a completely detailed "cookbook", but the process is pretty straightforward - any problems post questions and I'll try to help.

First of all background/context/disclaimers: I live in Thailand (ten years now) and had trouble getting a credit card, don't have a regular income. I also have a need to transfer relatively small amounts of money (100's rather than 1000's) between here and home (USA). Those who are happy with international bank wire transfer fees and have "real" credit cards already may find the following of academic interest only. Also, I already had a half-dozen Kasikorn bank accounts, most of which I opened while employed with a proper work permit.

So that's the first step - open one or more savings accounts with K-Bank. If you don't have a work permit, you may want to try at a few different branches, some don't require a WP - I opened at least two that way. However if you have a choice, I'd recommend opening accounts at a department store branch that's open evenings and weekends, e.g. Siam Paragon, Central. There are quite a few transactions that require you to go to the "home branch" of your account - change of address, new passport, lost passbook, etc.

Speaking of address, make sure you ask them to put your whole address in English characters (no Thai script) and make a note of EXACTLY how it's entered into their form, which has a specific field layout. Make sure you use the EXACT same address in the various locations of their database, which aren't linked to each other.

While you're opening your account(s), ask them to enable "K-Cyber" (online) banking for you. This is a multi-step process that takes at least a week or so, but if you have a friendly CS rep they might help you along by letting you do the online steps on their computer right in the bank, fill out the additional forms passport copies etc right there. But you still have to wait for an email notifying you that everything's activated.

By the way, if you plan to access your online account from overseas, you should request "PIN2" security rather than the default SMS OTP method, as you probably won't get the SMS password confirmation messages sent to your Thai phone number when outside Thailand.

While you're waiting for the email, set up a new PayPal account specifying Thailand - you can't link your overseas PayPal to a Thai bank account. Link that new PayPal account to your new Kasikorn account(s), and initiate the verification process, as that also takes a few business days to complete. Note that you can only WITHDRAW FROM PayPal into your Thai bank account, not fund PayPal from it - but you'll use your virtual VISA card for that - see below.

When you get the email telling you everything's ready, log into your K-Cyber account and apply there for a "K-Web" shopping card, selecting which account you want it to be linked to and set a spending limit. Also check your address listed there is the same as the one you wrote down as recorded for your account.

Again, you'll need to wait a few more business days for an email letting you know your application's been approved. Go online to check out your "virtual card" number, CCV and expiration date, and you can now use this for online purchases like any regular VISA card, the money gets deducted from the linked account - so you've got to have the money in your account of course!

If you want to be able to put money INTO your PayPal account FROM your K-Bank account, do NOT "link" this VISA card to your PayPal account. Send a "request money" email from your PayPal account to yourself via an email address different from the one you used to setup your PayPal account (from here on I'll call this "PayPal1"). When you get the money request, use the supplied link to register a NEW PayPal account (PayPal2) and then enter your new virtual VISA card details to make the payment.

This is what allows you two-way transfers between your PayPal account and your K-Bank savings account. If you also want to make VISA card payments from PayPal1, either use another credit card for that, or set up a second K-Bank savings account, tied to the same K-Cyberbanking web account, and you'll be able to create a second virtual VISA card tied to that second savings account.

Now anyone in the world with PayPal or a credit card can transfer money to you hear in Thailand. This is (I believe) by far the cheapest way to transfer small amounts, say under USD $1000 or so - PayPal's fee is just under 4%, maybe a little over for very small transactions (under USD $20).

Note that withdrawing from PayPal to your K-Bank account takes four business days or so, so it's not much faster than an international wire transfer, and for large amounts the wire flat fee would be cheaper. But it's WAY cheaper than Western Union, especially for the small amounts for which WU is completely impractical.

You also should be able to use your virtual credit card just about anywhere online, especially if you sign up for the "verified by VISA" feature - not listed on the K-Cyber site, but from the regular Kasikorn website, as if it's a regular credit card. However most rental car agencies and many airlines require an imprint from a real credit card when you check in, so be careful to investigate that first.

Sorry if this is a bit confusing, it's actually easier to do the whole process than it is to understand it 8-)

And I realise that my own situation may not be the same as others, so if you think you don't have a need for this setup, never mind!

But I'm going to get all my wives and girlfriends set up with this to make it easy for us to send money back and forth at relatively low cost, and I can now finally buy stuff online without bothering my friends, so I'm a happy camper!

Feedback and questions welcome. . . .

[Mobi]

Thanks for the detailed info.

I don't really need a Thai credit card, as I have a Thai based Amex (very long story on how I got it) plus overseas visa cards.

However, useful to know, and a Thai card might fill in a few of the gaps when I don't want to use any of the cards I currently hold - of course Amex is not accepted at many places, and even if it is they often levy a surcharge.

I have had K Bank Cyber banking for a few years now, and it had never occurred to me to apply on line for a credit card, which I will try and do.

One point in your post.

I use then OTP for my transactions and I can confirm that you do receive the one time code by sms when you are out of Thailand. I had a bit of a problem in the Philippines once when the sms took a long time to come through, but the next time I tried it was fine.

Just make sure your Thai sim is enabled to receive Thai sms's when overseas. If you use AIS, any AIS centre or their help line will check for you - in English.

I think the OTP's are a great security device.

[chiangmailocal]

I use K Bank and I used their K-Cyber visa to set up my Paypal account...worked like a charm...

[ThaiLife]

Thanks for the info , although I currently don't need a Paypal account I though this was a little gem ..

( I'd recommend opening accounts at a department store branch that's open evenings and weekends )

Thanks

[thaimite]

Thanks for that well documented procedure.

I have been using K-cyber banking for some time and it works great.

Even now while I am overseas I am able to pay bills, and top up the family phones via the Internet without my wife having to constantly ask for money, which makes it easier for me to keep a check on the spending at home. I can also pay unexpected bills easily and then wait for a more favourable exchange rate before topping up my Kasikorn bank account from my salary

[Moonrakers]

I use paypal with my Bangkok Bank debit/atm card. Very easy indeed.

[NHJ]

you seem to forget paypal exchange rate is always 3-4 baht less than the official rate, wich makes paypal not usefull at all when it comes to bring money in here.

[BWPattaya]

Thanks for that, a very useful bit of information.

I have used the K Bank One Time Password system abroad. Just make sure that your Thai number has international roaming set up. I use DTAC and it is easy.

[NamKangMan]

Does anyone know why Kasikorn Bank allow internet banking without a problem and Bangkok Bank will not allow a foreigner to have internet banking???? It makes no sense to me. I first went to Bangkok Bank (being the biggest bang in Thailand). They set up an account for me, and then when I asked to register it for internet banking, they said I couldn't do it. I then tried to do it through one of their ATM's, but that didn't work either. Anyone know the reasoning behind it other than TIT????

Then went to Kasikorn Bank and was sorted out with an account and registered for internet banking with no problems.

What's Bangkok Bank's problem with internet banking?

Edited April 14, 2010 by NamKangMan

[thaimite]

Does anyone know why Kasikorn Bank allow internet banking without a problem and Bangkok Bank will not allow a foreigner to have internet banking???? It makes no sense to me. I first went to Bangkok Bank (being the biggest bang in Thailand). They set up an account for me, and then when I asked to register it for internet banking, they said I couldn't do it. I then tried to do it through one of their ATM's, but that didn't work either. Anyone know the reasoning behind it other than TIT????

Then went to Kasikorn Bank and was sorted out with an account and registered for internet banking with no problems.

What's Bangkok Bank's problem with internet banking?

Simple they have too many customers and want to share some with The Kasikorn Bank.

This is the one and only time I have ever seen a bank being generous

Edited April 14, 2010 by thaimite

[NamKangMan]

Does anyone know why Kasikorn Bank allow internet banking without a problem and Bangkok Bank will not allow a foreigner to have internet banking???? It makes no sense to me. I first went to Bangkok Bank (being the biggest bang in Thailand). They set up an account for me, and then when I asked to register it for internet banking, they said I couldn't do it. I then tried to do it through one of their ATM's, but that didn't work either. Anyone know the reasoning behind it other than TIT????

Then went to Kasikorn Bank and was sorted out with an account and registered for internet banking with no problems.

What's Bangkok Bank's problem with internet banking?

Simple they have too many customers and want to share some with The Kasikorn Bank.

This is the one and only time I have ever seen a bank being generous

Maybe they are worried about losing their jobs because everyone does their transactions over the net. Anyway, Kasikorn bank gets my vote. Can't speak highly enough of them to other farang.