Dual currency debit card launched in Thailand

By Seetalavajit Sabayjai

The Nation

Bank of China today signed a cooperation agreement with China's UnionPay Emergency Cash Service, as the Chinese bank seeks to provide dual currency debit card in Thailand.

The "Great Wall" dual currency debit card can be charged in both Thai and Chinese currencies, said Che Jun, general manager for Bank of China's Bangkok branch.

The international debit card focuses on corporate customers and frequent travellers between Thailand and China, he said.

The maximum cash withdrawal, through ATM machines with UnionPay sign, is Bt100,000 or 20,000 yuan.

-- The Nation 2011-07-14

What am I missing here. When I stick my U.S. debit card into a Thai ATM I get Baht, when I stick my U.S. debit card in a Chinese ATM I get Yuan, when I stick my U.S. debit card in a Japanese ATM I get Yen, etc....etc....etc....as I use my debit card in different countries. Of course the final charge hitting my U.S. bank account is in dollars.

Does above announcement mean I would have an account in Thai Baht and an account in Chinese Yuan and then pick which account to charge a purchase or withdrawal too?

Sounds like/similar to Dynamic Currency Conversion, where your pick of "yuan" or "baht" only affects the currency conversion rate you receive. As a Chinese issued card, you're still billed in yuan -- for whatever amount of baht you picked to come out the slot. Suspect, as with DCC, if you pick yuan with a Thai ATM machine -- you lose.

I was thinking the DCC angle also. If it is along those lines, then like you said, - you lose.

Thanks to a couple guys on here, my vast knowledge of ATM use in Thailand led me to think the very same things right away when reading the article headline.

Focused product targeting a specific customer base. Did catch my eye though but... Next.....

J

PS: PIB - got the CAP 1 credit card, and email yesterday saying it was on the way. Thanks again! J