Rewards Credit Cards and Bank Accounts for Foreigners from Thai Banks

[rcox81]

Every month, I transfer a lot of money into my K Bank account. But this account gives me absolutely no rewards or special offers. I don't even think I can get a mortgage because I do not have a work permit.

I am wondering if there are any better banks suited to foreigners, that make offers (Cash back rewards, etc), or even just banks with more favorable interest rates. It seems strange to me that I have not seen more offers directed at foreigners, given that we contribute so much to the economy here.

Has anyone seen any special credit card or bank offers made special for the Falangs here?

[Pib]

I hope some posters do identify some Thai banks which makes truly special offers to farangs, but as you know it's hard for some farangs to even open bank accounts in Thailand due to Thai bank policies towards farangs or get a unsecured credit card unless you have a work permit. But getting a secured credit card with a locked deposited securing the card is easily done. We see those posts almost everyday on ThaiVisa regarding the opening of bank accounts or getting a credit card.

While there are a good amount of farangs in certain Thailand locations, like Bangkok, Pattaya, & Phuket, when you get right down to it, farangs--say the ones that live here from western countries--are a very small part of the whole Thailand population and a rarity in the great majority of Thailand (excluding the tourists visiting for a few days/weeks). Heck, I live in western Bangkok and see very few farangs in my day-to-day running around, shopping over here...but go to central/highrise Bangkok and they are a dime a dozen. Sure, many large foreign companies contribute a lot to the economy with their factories here in Thailand, but other than a small portion of their core management the employees and managers are Thai...and yes, farang tourists definitely contribute greatly to the Thailaind economy. Plus, I don't think it would be well received by the citizens of Thailand if farangs got better bank products/services/offers than Thai's...same would probably apply in your home country. And we always have the issue of how farangs can skip country so easily and leave unpaid bills, where skipping the country for good is really not an option for a typical Thai.

Farangs are not special in Thailand; we are just foreigners (farangs) and you know the word foreigner has a little bit of negative connotation to it regardless of the country you live in. I understand that and I'm generally OK with it since the same thing happens in my home country...just seems to be human nature, right or wrong. When you get right down to it, we (farangs) probably need to try a little harder than a Thai to get equal products/services in Thailand...and even when trying harder is still won't work out...and that's just the way it is in most any country in he world when it comes to foreigners.

Once again, I do hope we see some posts identifying special and good bank/credit card products/services focused towards farangs. Cheers.

[MeowBundit]

Nothing except some foreign currency account products. Central Group offers 5% discount card for Expats.

Cash back? SCB offers. Points rewards? BAY, BBL offers. Credit card for foreigners? Check your branch.

As mentioned in previous post, nothing special because you a foreigner. Oh, maybe this - BAY offers Premium services for client, who deposited five million baht and up in BAY accounts.

Detailed explanation will take a time. And from some point in time American Express will contact you, especially if you a Thai Airways registered flyer, and offer their services for Expats.

[fletchsmile]

I get THB 1,400 cash back a month from my Stan Chart Thai Platinum Visa credit card. Not exactly sure how the offer works, but think it's cash back on a % spend at all supermarkets, restaurants etc and THB 1,400 seems to be the max.

I also get a few hundred baht a month cash back from them in addition to that - not sure what for.

They also give points for every spend generally. I've 400,000 or so on 2 cards, which I believe are worth about THB 40k+

So yes there are cards out there that foreigners can use. Basically I use my credit card whenever there's an opportunity here instead of cash, knowing I get points and cash back. Though i couldn't tell you the details of the schemes.

Edit: just did a quick check for overview:

http://www.standardchartered.co.th/promotions/en/

There is nothing targeted at foreigners tho', and these are just normal cards

Cheers

Fletch

Edited November 10, 2013 by fletchsmile

[rcox81]

I get THB 1,400 cash back a month from my Stan Chart Thai Platinum Visa credit card. Not exactly sure how the offer works, but think it's cash back on a % spend at all supermarkets, restaurants etc and THB 1,400 seems to be the max.

I also get a few hundred baht a month cash back from them in addition to that - not sure what for.

They also give points for every spend generally. I've 400,000 or so on 2 cards, which I believe are worth about THB 40k+

So yes there are cards out there that foreigners can use. Basically I use my credit card whenever there's an opportunity here instead of cash, knowing I get points and cash back. Though i couldn't tell you the details of the schemes.

Edit: just did a quick check for overview:

http://www.standardchartered.co.th/promotions/en/

There is nothing targeted at foreigners tho', and these are just normal cards

Cheers

Fletch

_______

Rewards points for supermarkets and restaurants sound great, did you need a work permit to get that card or to open an account at SCB?

[8OA8]

Get a Citibank Select visa card and the points (can transfer to ROP) and privileges are very good. Sorry can't remember if I had to provide WP to apply for the card

[Eranim]

Hi, I would be very happy if I could just open an account my wife has a work permit I do not and I have a O visa and they told me I could not get a bank account when I tried to open one, does anyone know where i may get an account with no work permit and a multiple entry O visa please

[shaurene]

I have been with SCB ever since I started to come that is 9 yrs ago, I get interest on my account,not much but couple thou a month and I have a debit card for ATM,con pay like a credit card, Thai Air take it so pay for flights.

Only needed to show my passport and I can operate my account on the Internet.

[MrMo]

Been in Thailand for 13 years - 3 Bangkok, 10 Buriram.

The first 3 years were with WP but I did not take a credit card from my non-Thai bank in Bangkok. After 5 years did take one but surety was based on my total global assets with the bank.

2 year ago I switched to a Thai bank in Buriram. Talked first with two banks,

One told me I could have a 1 million limit CC after 6 months if I kept min 2million with them.

The other told me I could get a CC if I kept double the CC limit on dep0sit with them.

Went with the second as intended to put retirement extension money on 12 month deposit any way. That was SCB. When eventually after 2 to 3 months they did come through with the CC contract, I declined the card as they wanted me to sign every page of a large contract of which I didn't understand a word.

Now have a CC with the first bank who no longer require me to maintain a 2 million account. I'm sure this is a mistake by the bank but I'm not telling them. i just pay it off every month and all seem happy with the arrangement. And yes I get points and discount off petrol.

What I've heard from other frangs is that you need a big balance (usually double the limit) before a Thai bank will give you a CC.

What this boils down to is that it isn't realy a CC, It is effectively a pre-paid charge card.

I have no experience as to whether these "rules" also applies to Thai nor what would be required by those working in Thailand, no matter whether Thais or Farang.

[Shiver]

I was refused a BKK account as I was on Tourist visa at the time, the exception was if I brought with me a government work or similar to vouch for me. I went to KK and they opened one no problem, but I asked for a debit card and they couldn't understand me. They said words to the effect of "you have the ATM card and you can shop with it", but that's no use if I want to buy on the internet. Eventually they set up a 'virtual number' (don't have a physical card. After getting skimmed for about $2000 at an ATM machine locally in a shop near by, I decided not to use that account for a while. KK took no responsibility for it, and said I could go to the Police, but if it turned out that what I was claiming was untrue then I'd have to pay for their time. The patterns of use just didn't match mine, it would be 1000 baht, then 2000 baht, then 5000baht. I always just go and get 20K and be done with it. I figured Police would want their tea money so dropped the case.

I then tried to open a BKK account again (This time on a business visa) and no problem at all and got a Visa Debit card with it (chip and pin). That limits me to BKK ATM machines though, and it's hit and miss whether it works in online stores.

Bottom line is I don't leave a lot of money in Thailand. I'm currently exploring Singapore, HK, Denmark to see what's involved in having a foreigner open a safer account for holding larger amounts of cash. I specifically don't want USD/GBP/Euro account. I'm done with the western banking for the foreseeable future.

[Ashto]

I opened a e savings account recently with Krungthai Bank and was given immediately a Visa debit card. No work permit. Need a local address and passport ID. I have internet access but the immediate Visa card doesn't have my name on it so I doubt I can use it for internet buying. I suggest going to the head office or at least as large a branch as possible to ask for an account.

[bigbamboo]

I hope some posters do identify some Thai banks which makes truly special offers to farangs, but as you know it's hard for some farangs to even open bank accounts in Thailand due to Thai bank policies towards farangs or get a unsecured credit card unless you have a work permit. But getting a secured credit card with a locked deposited securing the card is easily done. We see those posts almost everyday on ThaiVisa regarding the opening of bank accounts or getting a credit card.

While there are a good amount of farangs in certain Thailand locations, like Bangkok, Pattaya, & Phuket, when you get right down to it, farangs--say the ones that live here from western countries--are a very small part of the whole Thailand population and a rarity in the great majority of Thailand (excluding the tourists visiting for a few days/weeks). Heck, I live in western Bangkok and see very few farangs in my day-to-day running around, shopping over here...but go to central/highrise Bangkok and they are a dime a dozen. Sure, many large foreign companies contribute a lot to the economy with their factories here in Thailand, but other than a small portion of their core management the employees and managers are Thai...and yes, farang tourists definitely contribute greatly to the Thailaind economy. Plus, I don't think it would be well received by the citizens of Thailand if farangs got better bank products/services/offers than Thai's...same would probably apply in your home country. And we always have the issue of how farangs can skip country so easily and leave unpaid bills, where skipping the country for good is really not an option for a typical Thai.

Farangs are not special in Thailand; we are just foreigners (farangs) and you know the word foreigner has a little bit of negative connotation to it regardless of the country you live in. I understand that and I'm generally OK with it since the same thing happens in my home country...just seems to be human nature, right or wrong. When you get right down to it, we (farangs) probably need to try a little harder than a Thai to get equal products/services in Thailand...and even when trying harder is still won't work out...and that's just the way it is in most any country in he world when it comes to foreigners.

Once again, I do hope we see some posts identifying special and good bank/credit card products/services focused towards farangs. Cheers.

What?.............. I thought 'farang' meant handsome with a great body and superior intellect! You just can't trust anyone these days.

As for the card I have an SCB 'savings' account that's effectively a current account can be accessed any time without penalty and pays interest (taxed) and a 'credit' card that works as a credit card, pays reward points but as it's secured is effectively a debit card. As usual nothing is quite what it says on the tin but it works well enough.

[isawasnake]

I get THB 1,400 cash back a month from my Stan Chart Thai Platinum Visa credit card. Not exactly sure how the offer works, but think it's cash back on a % spend at all supermarkets, restaurants etc and THB 1,400 seems to be the max.

I also get a few hundred baht a month cash back from them in addition to that - not sure what for.

They also give points for every spend generally. I've 400,000 or so on 2 cards, which I believe are worth about THB 40k+

So yes there are cards out there that foreigners can use. Basically I use my credit card whenever there's an opportunity here instead of cash, knowing I get points and cash back. Though i couldn't tell you the details of the schemes.

Edit: just did a quick check for overview:

http://www.standardchartered.co.th/promotions/en/

There is nothing targeted at foreigners tho', and these are just normal cards

Cheers

Fletch

You post the most useful info

I am going to apply for one, as I kind of want to check out how their overall service is too. I doubt I'll get the same deal, but I'll give it a try. I am not liking kbanks perks too much.

I have a Kbank card, and like you I use it as much as I can. However, despite the fact that I thought I was going to get some type of rewards when I signed up, I have gotten nothing. The big zilch.

It sounds like Stan Chart are good vehicle from investing in various mutual funds too (from what you have told me ). Thanks again for the post.

Btw, is this the specific card you have?....

Edited November 11, 2013 by isawasnake

[bangkokstick]

What about the pink bank lottery ? (GHB bank?) You can get 10 millions.

[fletchsmile]

I get THB 1,400 cash back a month from my Stan Chart Thai Platinum Visa credit card. Not exactly sure how the offer works, but think it's cash back on a % spend at all supermarkets, restaurants etc and THB 1,400 seems to be the max.

I also get a few hundred baht a month cash back from them in addition to that - not sure what for.

They also give points for every spend generally. I've 400,000 or so on 2 cards, which I believe are worth about THB 40k+

So yes there are cards out there that foreigners can use. Basically I use my credit card whenever there's an opportunity here instead of cash, knowing I get points and cash back. Though i couldn't tell you the details of the schemes.

Edit: just did a quick check for overview:

http://www.standardchartered.co.th/promotions/en/

There is nothing targeted at foreigners tho', and these are just normal cards

Cheers

Fletch

You post the most useful info

I am going to apply for one, as I kind of want to check out how their overall service is too. I doubt I'll get the same deal, but I'll give it a try. I am not liking kbanks perks too much.

I have a Kbank card, and like you I use it as much as I can. However, despite the fact that I thought I was going to get some type of rewards when I signed up, I have gotten nothing. The big zilch.

It sounds like Stan Chart are good vehicle from investing in various mutual funds too (from what you have told me ). Thanks again for the post.

Btw, is this the specific card you have?....

To OP

Yes I did have a WP when I originally took the card.

To Isawasnake

Stanchart have different credit cards: normal, titanium, platinum etc. The rewards vary, but platinum gives the most. Even on the normal card they have cash back of 5% at restaurants supermarkets etc. They usually run for a few months at a time, but are usually replaced with something similar. If you click on the link below and click on the boxes you get more details

http://www.standardchartered.co.th/promotions/en/#credit-card

Priority banking + Platinum card combination gives the best rewards. Priority banking gives 15% cash back at the moment til the end of year on all restaurants, hotels etc, up to 1,400 baht a month.

The admin and paperwork at Stanchart can be a bit of a pain, and they are only really useful for Greater Bangkok. Their mass market service is often below par too.

But if you have THB 3mio with them, which can combine cash, mutual funds, mortgage debt etc then you get Priority Banking and the game changes. That's one of the reasons I buy mutual funds with them - it doesn't cost any extra and counts towards the PB threshold.

Priority Banking also gets you a dedicated Relationship Manager - which can be a godsend in Thailand. The lady we have is great and takes away a lot of the headaches that you get from mass media banking and general banking in Thailand headaches. I just call her or email her if I need anything - very useful if away from Thailand for extended periods too. She knows us and the family well. Her husband also used to be my RM a few years back too before they got married and he moved on. So in addition to the money threshold there's a relationship we've built over time. Also helps that we're mindful of the admin and bureaucracy she has to put up with her side too

Cheers

Fletch

[KittenKong]

The admin and paperwork at Stanchart can be a bit of a pain, and they are only really useful for Greater Bangkok. Their mass market service is often below par too.

They also have a branch in Rayong that I used to open my esaver account, though I live in Jomtien. And they are in other parts of Thailand too.

I think the reason for the excessive admin and paperwork these days is down to the huge fine they were given for being "lax" about it in the US a couple of years ago.

I have no issues with their service.

[fletchsmile]

The admin and paperwork at Stanchart can be a bit of a pain, and they are only really useful for Greater Bangkok. Their mass market service is often below par too.

They also have a branch in Rayong that I used to open my esaver account, though I live in Jomtien. And they are in other parts of Thailand too.

I think the reason for the excessive admin and paperwork these days is down to the huge fine they were given for being "lax" about it in the US a couple of years ago.

I have no issues with their service.

They also have a branch in Chiang Mai. The main strategy/ focus though is Greater Bangkok, and over the years they've been reducing branches since originally acquiring Nakornthon 10 years or so back. The admin and paperwork has been there for years, and no doubt will be for more to come. I think our family alone has probably killed at least one tree with all the signed copies of our passports/workpermits/tabian bahn/ID cards etc

[isawasnake]

I get THB 1,400 cash back a month from my Stan Chart Thai Platinum Visa credit card. Not exactly sure how the offer works, but think it's cash back on a % spend at all supermarkets, restaurants etc and THB 1,400 seems to be the max.

I also get a few hundred baht a month cash back from them in addition to that - not sure what for.

They also give points for every spend generally. I've 400,000 or so on 2 cards, which I believe are worth about THB 40k+

So yes there are cards out there that foreigners can use. Basically I use my credit card whenever there's an opportunity here instead of cash, knowing I get points and cash back. Though i couldn't tell you the details of the schemes.

Edit: just did a quick check for overview:

http://www.standardchartered.co.th/promotions/en/

There is nothing targeted at foreigners tho', and these are just normal cards

Cheers

Fletch

You post the most useful info

I am going to apply for one, as I kind of want to check out how their overall service is too. I doubt I'll get the same deal, but I'll give it a try. I am not liking kbanks perks too much.

I have a Kbank card, and like you I use it as much as I can. However, despite the fact that I thought I was going to get some type of rewards when I signed up, I have gotten nothing. The big zilch.

It sounds like Stan Chart are good vehicle from investing in various mutual funds too (from what you have told me ). Thanks again for the post.

Btw, is this the specific card you have?....

To OP

Yes I did have a WP when I originally took the card.

To Isawasnake

Stanchart have different credit cards: normal, titanium, platinum etc. The rewards vary, but platinum gives the most. Even on the normal card they have cash back of 5% at restaurants supermarkets etc. They usually run for a few months at a time, but are usually replaced with something similar. If you click on the link below and click on the boxes you get more details

http://www.standardchartered.co.th/promotions/en/#credit-card

Priority banking + Platinum card combination gives the best rewards. Priority banking gives 15% cash back at the moment til the end of year on all restaurants, hotels etc, up to 1,400 baht a month.

The admin and paperwork at Stanchart can be a bit of a pain, and they are only really useful for Greater Bangkok. Their mass market service is often below par too.

But if you have THB 3mio with them, which can combine cash, mutual funds, mortgage debt etc then you get Priority Banking and the game changes. That's one of the reasons I buy mutual funds with them - it doesn't cost any extra and counts towards the PB threshold.

Priority Banking also gets you a dedicated Relationship Manager - which can be a godsend in Thailand. The lady we have is great and takes away a lot of the headaches that you get from mass media banking and general banking in Thailand headaches. I just call her or email her if I need anything - very useful if away from Thailand for extended periods too. She knows us and the family well. Her husband also used to be my RM a few years back too before they got married and he moved on. So in addition to the money threshold there's a relationship we've built over time. Also helps that we're mindful of the admin and bureaucracy she has to put up with her side too

Cheers

Fletch

I just applied for a card there. IF I am approved, it looks like I will be getting 800 baht cash back on my first purchase if it's within a month of the issue of the card (I believe a promotion for new SC card holders). Pleasantly surprised, because I did not see this promotion online. Already liking it. I suppose the "if I get approved" part is quite important however

Thanks again. I like the bank. I think next time I will head to a bigger branch though. I know there is one near Chong Nonsi BTS.

[fletchsmile]

I get THB 1,400 cash back a month from my Stan Chart Thai Platinum Visa credit card. Not exactly sure how the offer works, but think it's cash back on a % spend at all supermarkets, restaurants etc and THB 1,400 seems to be the max.

I also get a few hundred baht a month cash back from them in addition to that - not sure what for.

They also give points for every spend generally. I've 400,000 or so on 2 cards, which I believe are worth about THB 40k+

So yes there are cards out there that foreigners can use. Basically I use my credit card whenever there's an opportunity here instead of cash, knowing I get points and cash back. Though i couldn't tell you the details of the schemes.

Edit: just did a quick check for overview:

http://www.standardchartered.co.th/promotions/en/

There is nothing targeted at foreigners tho', and these are just normal cards

Cheers

Fletch

You post the most useful info

I am going to apply for one, as I kind of want to check out how their overall service is too. I doubt I'll get the same deal, but I'll give it a try. I am not liking kbanks perks too much.

I have a Kbank card, and like you I use it as much as I can. However, despite the fact that I thought I was going to get some type of rewards when I signed up, I have gotten nothing. The big zilch.

It sounds like Stan Chart are good vehicle from investing in various mutual funds too (from what you have told me ). Thanks again for the post.

Btw, is this the specific card you have?....

To OP

Yes I did have a WP when I originally took the card.

To Isawasnake

Stanchart have different credit cards: normal, titanium, platinum etc. The rewards vary, but platinum gives the most. Even on the normal card they have cash back of 5% at restaurants supermarkets etc. They usually run for a few months at a time, but are usually replaced with something similar. If you click on the link below and click on the boxes you get more details

http://www.standardchartered.co.th/promotions/en/#credit-card

Priority banking + Platinum card combination gives the best rewards. Priority banking gives 15% cash back at the moment til the end of year on all restaurants, hotels etc, up to 1,400 baht a month.

The admin and paperwork at Stanchart can be a bit of a pain, and they are only really useful for Greater Bangkok. Their mass market service is often below par too.

But if you have THB 3mio with them, which can combine cash, mutual funds, mortgage debt etc then you get Priority Banking and the game changes. That's one of the reasons I buy mutual funds with them - it doesn't cost any extra and counts towards the PB threshold.

Priority Banking also gets you a dedicated Relationship Manager - which can be a godsend in Thailand. The lady we have is great and takes away a lot of the headaches that you get from mass media banking and general banking in Thailand headaches. I just call her or email her if I need anything - very useful if away from Thailand for extended periods too. She knows us and the family well. Her husband also used to be my RM a few years back too before they got married and he moved on. So in addition to the money threshold there's a relationship we've built over time. Also helps that we're mindful of the admin and bureaucracy she has to put up with her side too

Cheers

Fletch

I just applied for a card there. IF I am approved, it looks like I will be getting 800 baht cash back on my first purchase if it's within a month of the issue of the card (I believe a promotion for new SC card holders). Pleasantly surprised, because I did not see this promotion online. Already liking it. I suppose the "if I get approved" part is quite important however

Thanks again. I like the bank. I think next time I will head to a bigger branch though. I know there is one near Chong Nonsi BTS.

Good luck with it.

The one next to Chong Nonsri is the "Sathorn" / "Head Office" branch. That's the one I use.

Cheers

Fletch