Debit Card Cash Withdrawals Worry Bank Of Thailand

[bobl]

What is an ATM card?

Nowadays an ATM card and a Debit Card are pretty much one and the same thing.

In the old days, there were two types of card - ATM cards, and Credit Cards. ATM cards were used to withdraw cash, credit cards were used to pay by plastic. Simple.

But then, the bankers came up with a new scheme. Instead of ATM cards only being for cash withdrawals, make them also useable to retailers so as to skim 2-4% off them as well as off credit cards. Slap a visa or mastercard logo on an ATM card and voila - new profit center.

Hence, the humble "ATM" card became today's "Debit Card" - and the banks are very delighted when you use them in shops rather than the traditional method of withdrawing and using cash.