homeownership Posted March 18, 2013 Share Posted March 18, 2013 My bank has warned me to stop using cash machines in Thailand, as from April 1st 2013, I will no longer be covered by their indeminity scheme, which gives me my money back should it be stolen, while using a cash machine. I called them up and ask to clarify. I was put through to an account handler, who has stated that in the past 3 years they have had over 3million pounds (GBP) worth of claims that either the account holders card had been used without their pemission, high tech fraud and stolen cards used over the internet based in thailand. Any my bank account manager said that there is nothing to stop me using my card in Thailand but doing so now, knowing the risks means that I am no longer afforded the fraud protection. Has anyone else heard of this practice or is it new. Is Thailand being singled out or is it as I suspect a way for the banks to simply not pay up in fraud cases. Link to comment Share on other sites More sharing options...
Judo Chop Posted March 18, 2013 Share Posted March 18, 2013 (edited) 3 million GBP? Big bloody deal in the scheme of things. I wonder what that actually represents as a % of all profits made by said bank through their customers use of these 'cards' when they travel to Thailand? Let's all stop using cards if the banks will no longer guarantee to cover you for theft or fraud where it can be proven. Use cash or TC's. When the banks back home start losing out on all the fees and currency conversion margins attached to those 'cards', they will soon be forced to cop it on the chin. Part of the cost of doing business, so to speak. Edited March 18, 2013 by Judo Chop 1 Link to comment Share on other sites More sharing options...
Mrjlh Posted March 18, 2013 Share Posted March 18, 2013 Would nice to name the Bank. Screaming the sky is falling isn't going to cut it. Not all banks have that policy. 1 Link to comment Share on other sites More sharing options...
cooked Posted March 18, 2013 Share Posted March 18, 2013 Very few problems in the provinces, another reason to stay away from Phuket and co. 1 Link to comment Share on other sites More sharing options...
allalong Posted March 18, 2013 Share Posted March 18, 2013 Had letter,email from my uk bank warning me about atm fraud in Thailand Link to comment Share on other sites More sharing options...
chiangmaikelly Posted March 18, 2013 Share Posted March 18, 2013 Would nice to name the Bank. Screaming the sky is falling isn't going to cut it. Not all banks have that policy. Ya gotta agree with that. What bank? Link to comment Share on other sites More sharing options...
JLCrab Posted March 18, 2013 Share Posted March 18, 2013 It is easy to have your bank set a maximum daily ATM withdrawal limit. Link to comment Share on other sites More sharing options...
allalong Posted March 18, 2013 Share Posted March 18, 2013 Would nice to name the Bank. Screaming the sky is falling isn't going to cut it. Not all banks have that policy. Ya gotta agree with that. What bank? So you dont believe banks warn? Cooperative Bank gave me the advice because of incidents of fraudulent withdrawls Link to comment Share on other sites More sharing options...
Morakot Posted March 18, 2013 Share Posted March 18, 2013 (edited) Yes I agree, this post would only make sense if you name the bank, the type of account, and the specific indemnity/ fraught protection scheme that covers you. As this would be an official policy, there should not be any problem in doing so. Otherwise people might think this is an early April fools' joke, which of course we want to avoid. Edited March 18, 2013 by Morakot 1 Link to comment Share on other sites More sharing options...
Popular Post Swiss1960 Posted March 18, 2013 Popular Post Share Posted March 18, 2013 (edited) Warning "letter" is worth nothing for your bank, as they would need to change their General Terms & Conditions for such an excempt to liability to be legally valid. Without seeing either letter or new GT&C, nobody will know whether such a change would be acceptable, either under the (UK) consumer protection act or under the VISA / MC Rules & Regulations Having fraud on cards is part of the business of banks, during my last trip to Thailand, I had more than 100'000 Baht of fraudulent transactions on my account, which were cleared from my account within 1 day from reporting... the only thing my bank now asked for was a mobile number and e-mail for future alerts and verifications. Edited March 18, 2013 by Swiss1960 4 Link to comment Share on other sites More sharing options...
Sandman77 Posted March 18, 2013 Share Posted March 18, 2013 You bought something in a Shop? I read One Time The Indian Orient carpet dealers, most of them have a black market device to Copy the card ! In the eu I have protection in my homecountry , also when someone take my money during withdrawal ! The insurance does not cover a street thiefs that take your bag, only under life danger! I must ask my bank about this kind of protection outside Europe! But a good advice go to the counter directly with your passport , and ask for Visa cash coasts around 5€ for one time use! Link to comment Share on other sites More sharing options...
JDGRUEN Posted March 18, 2013 Share Posted March 18, 2013 Anywhere in the world one can carry a prepaid Debit/ATM card (tagged with Visa/MasterCard/American Express) and use it quite safely. Some of these cards can be 'charged up' - money added to the debit card on the card issuers secure website. Just add what you need (and no more) for a given day/weekend/special event/travel. If the card is compromised - then there is not much potential loss. Some of the cards do not have the PIN number embedded in the magnetic stripe on the card. In this case the PIN number can be changed immediately on a secure website or by an 800/888 number should the need arise. In the USA some prepaid Debit/ATM cards can be charged up by an ACH transfer from your checking account. A good example of this type of card is the American Express - Walmart Bluebird card ... Link to comment Share on other sites More sharing options...
cardholder Posted March 18, 2013 Share Posted March 18, 2013 Would nice to name the Bank. Screaming the sky is falling isn't going to cut it. Not all banks have that policy. Ya gotta agree with that. What bank? So you dont believe banks warn? Cooperative Bank gave me the advice because of incidents of fraudulent withdrawls Thailand has long been a 'hot spot' and the advice has been given by all the banks. Frankly, the risks are as high in parts of the UK. No one should complain when they suddenly turn up at an ATM in Pattaya to take out 20,000 Baht and they caught up in 'fraud procedures' and find the transaction blocked. Link to comment Share on other sites More sharing options...
Phronesis Posted March 18, 2013 Share Posted March 18, 2013 Just drop the maximum withdraw limit on your card down to a few hundred dollars per day. When you first arrived on TV you posted for all to see that you were a wealthy, self made, internet super entrepreneur. So it goes without saying that you would be online every day AND that a loss of a few hundred dollars would be of absolutely no consequence to the wealth you claim to have. Super entrepreneur my ar_se... Link to comment Share on other sites More sharing options...
chrisinth Posted March 18, 2013 Share Posted March 18, 2013 Would nice to name the Bank. Screaming the sky is falling isn't going to cut it. Not all banks have that policy. Ya gotta agree with that. What bank? So you dont believe banks warn? Cooperative Bank gave me the advice because of incidents of fraudulent withdrawls There is a big difference for a bank to warn its customers, and removing the fraud protection from said customers................ Link to comment Share on other sites More sharing options...
Stradavarius37 Posted March 18, 2013 Share Posted March 18, 2013 All banks in Thailand are BAD! We are all doing to die! - Chicken Little 2 Link to comment Share on other sites More sharing options...
marstons Posted March 18, 2013 Share Posted March 18, 2013 sounds dubious, they are regulated and I have not searched but after working for a bank for a while would think they don't have an option to op out, they are probably compelled to cover it. Link to comment Share on other sites More sharing options...
FritsSikkink Posted March 18, 2013 Share Posted March 18, 2013 who has stated that in the past 3 years they have had over 3million pounds (GBP) worth of claims that either the account holders card had been used without their pemission, high tech fraud and stolen cards used over the internet based in thailand. That is not much: skimming alone in the netherlands was 39 million euro's in 2011. Link to comment Share on other sites More sharing options...
chiangmaikelly Posted March 18, 2013 Share Posted March 18, 2013 All banks in Thailand are BAD! We are all doing to die! - Chicken Little If all the banks in Thailand are BAD then what happens to the baht? Hmmmm Link to comment Share on other sites More sharing options...
Sandman77 Posted March 18, 2013 Share Posted March 18, 2013 In future your smartphone is the credit card Link to comment Share on other sites More sharing options...
JSixpack Posted March 18, 2013 Share Posted March 18, 2013 Could they just FedEx the cash to you? Link to comment Share on other sites More sharing options...
easyride Posted March 18, 2013 Share Posted March 18, 2013 (edited) Anywhere in the world one can carry a prepaid Debit/ATM card (tagged with Visa/MasterCard/American Express) and use it quite safely. Some of these cards can be 'charged up' - money added to the debit card on the card issuers secure website. Just add what you need (and no more) for a given day/weekend/special event/travel. If the card is compromised - then there is not much potential loss. Some of the cards do not have the PIN number embedded in the magnetic stripe on the card. In this case the PIN number can be changed immediately on a secure website or by an 800/888 number should the need arise. In the USA some prepaid Debit/ATM cards can be charged up by an ACH transfer from your checking account. A good example of this type of card is the American Express - Walmart Bluebird card ... Anywhere in the world one can carry a prepaid Debit/ATM card (tagged with Visa/MasterCard/American Express) and use it quite safely. Some of these cards can be 'charged up' - money added to the debit card on the card issuers secure website. Just add what you need (and no more) for a given day/weekend/special event/travel. If the card is compromised - then there is not much potential loss. Some of the cards do not have the PIN number embedded in the magnetic stripe on the card. In this case the PIN number can be changed immediately on a secure website or by an 800/888 number should the need arise. In the USA some prepaid Debit/ATM cards can be charged up by an ACH transfer from your checking account. A good example of this type of card is the American Express - Walmart Bluebird card ... And they charge a fortune in 'fees' to charge the card, or non-use of the card as well as high currency loading to use the card. Edit.: I refer to non-worldwide currencies. The almighty dollar rules. Edited March 18, 2013 by easyride Link to comment Share on other sites More sharing options...
draftvader Posted March 18, 2013 Share Posted March 18, 2013 (edited) I think that saying "Don't use cash machines in Thailand" is a little "over the top". I have been using cash machines in Thailand with a mixture of UK and Thai bank cards for 7 years now. Not a problem. I have always been sensible and made sure that I have my wife or a friend cover my back when using ATMs in high tourist traffic areas (i.e. Sukhumvit, Sanam Luang, etc) and tried NOT to use ATMs in these areas when possible. That said I do know that Thailand has a poor reputation with banks for fraud and theft. I have had my credit card (UK) blocked twice when I haven't used it for a while. A quick call to the UK solves the problem and I thank them for blocking it. Just be sensible and exercise caution....as with anywhere in the world. Edited March 18, 2013 by draftvader 1 Link to comment Share on other sites More sharing options...
arthurwait Posted March 18, 2013 Share Posted March 18, 2013 Strangest troll yet. 2 Link to comment Share on other sites More sharing options...
Swiss1960 Posted March 18, 2013 Share Posted March 18, 2013 In the eu I have protection in my homecountry , also when someone take my money during withdrawal ! The insurance does not cover a street thiefs that take your bag, only under life danger! I must ask my bank about this kind of protection outside Europe! Stop posting such utter BS. The liability of the credit card company stops the minute the transaction is complete and the money comes out of the ATM. NO credit card company will reimburse you, even if you are robbed the second the money comes out. The credit card company would not even reimburse you when you are forced at gun point to do your withdrawl. You might have a private insurance for theft cases, but that is all you could have. Link to comment Share on other sites More sharing options...
Swiss1960 Posted March 18, 2013 Share Posted March 18, 2013 Some of the cards do not have the PIN number embedded in the magnetic stripe on the card. In this case the PIN number can be changed immediately on a secure website or by an 800/888 number should the need arise. NO bank card has the PIN number embedded in the mag stripe anymore. The one field that is embedded is called PVV (4 digit PIN Verification Value) which can be used by VISA / MC / Amex to do PIN verification on their own in case of Stip (Stand-In processing on behalf of the Issuing bank). Whether or not such Stip processing is allowed or not (and up to which value and for which transaction types) depends on the definitions of the Issuing Bank. Link to comment Share on other sites More sharing options...
Popular Post MrWorldwide Posted March 18, 2013 Popular Post Share Posted March 18, 2013 homeownership and sandman77 in the same thread - noooooooooo. Please, God, I promise I'll turn my life around ! Cruel and unusual punishment, gentlemen, cruel and unusual. One drink in over 12 months, but this could well restart my count. 4 Link to comment Share on other sites More sharing options...
Hedghog Posted March 18, 2013 Share Posted March 18, 2013 I have a minimal amount,of cash in my ATM account, For day to day use. Other monies are kept in higher interest accounts,both Uk and Thai. Its not rocket science,protecting your hard earned. 1 Link to comment Share on other sites More sharing options...
krisb Posted March 18, 2013 Share Posted March 18, 2013 If your cards linked in with visa or master card you don't have this problem op Link to comment Share on other sites More sharing options...
williewolf Posted March 18, 2013 Share Posted March 18, 2013 (edited) Would nice to name the Bank. Screaming the sky is falling isn't going to cut it. Not all banks have that policy. Ya gotta agree with that. What bank? So you dont believe banks warn? Cooperative Bank gave me the advice because of incidents of fraudulent withdrawls Every time I have one of these warning e-mails I have to enter all my security details again. Waste of time because when I check my account again all the money has gone!!!!! Edited March 18, 2013 by williewolf 2 Link to comment Share on other sites More sharing options...
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