Reasons of change

[orchidlady]

I posted previously about fraudulent purchases made to ATM/Visa debit card( plane tickets to European travel website). I never knew website existed and haven't been in Europe in 20 years).

Just got reimbursed back for the charges to my Bangkok Bank account- about 90% the rest was due to currency conversion charges. I was told Visa insists amount be paid back in dollars and then it was converted to baht by Bangkok bank. They said I can complain to Visa for the remaining balance. Is this standard practice? When my US account was comprised years ago (someone got cash advances in Spain-while I was in Thailand at the time!) I got every penny back.

[yankee99]

You would be better off asking visa for their terms of service that you agreed to.

[Pib]

Are you sure it was Visa doing the reimbursing versus the "card-issuing" bank (Bangkok Bank in this case).

Over the last 15 years or so there have been two times that fraudulent purchases appears on two different U.S. credit cards I had...one was a Bank of America credit card and one was a USAA credit card. Like you the purchases were made in places I never been before like Spain and Arizona, U.S. Anyway in both cases I dealt strictly with my card-issuing bank....I didn't deal with the Visa or Mastercard folks. In both my cases the fraudulent transactions were removed from my account within about 2 business days and new cards issued/in hand within two weeks.

You sure Bangkok Bank isn't just trying to sidetrack you by referring you to Visa? Call Visa and ask them...don't' be surprised if Visa refers you back to the "card-issuing" bank. Usually Visa/Mastercard are only involved when they "intercept/block a possible fraudulent transaction before it hits your bank account." But when the fraudulent transaction slips through then you are dealing with the card-issuing bank and their associated bank policies integrated with the card network policies for reimbursement.

[fletchsmile]

Sounds strange to me that the exchange difference was 10%. Then again there were a lot of strange things on your original thread. So perhaps a misunderstanding? One possibility is that if your original transaction had been selected to be in USD rather than THB (and later converted into THB) then Visa/the Bank could refund your original transaction based on USD which then get converted into THB later and the rate would be diff. i.e you bought something in USD so they refund in USD, even though ultimately it clears thru your THB acc. I wouldn't expect rates to be so far apart though at 10%, even using dynamic conversion which gives poor rates

I would follow up with Visa locally as well as your Bank again and see if you can reclaim the balance.

On the positive side: What it does show though is that certain people on here who have made hundreds and thousands of posts on here saying there is "no protection in Thailand", "Visa's zero loss policy doesn't in apply to Thailand" ad infinitum, have no idea what they are talking about in practice and just posting misinformation based on their own misunderstandings and misinterpretations.

On the positive side it demonstrates what experienced people who know what they are talking about know. If you are subject to fraud, in Thailand you report it. There will be an investigation. Providing you've complied with the T&C you should be re-imbursed.

BTW Personally I wouldn't use a debit card for purchases on-line or off unless I had no other choice. A credit card is safer. A debit card also hits your account immediately, whereas a credit card has a time lag before things are charged to your account, and there is time for the bank to intervene, you to intervene, get it blocked etc. A debit card can be particularly annoying if you've used it in a different country to your bank and something goes wrong.

Anyway follow up.

Cheers

Fletch

Edited May 11, 2014 by fletchsmile

[Pib]

orchidlady, How long did it take to get reimbursed for the fraudulent transaction? Thanks.

[Halfaboy]

Recently an unknown person had used my Bangkok Bank (Visa) credit card details for purchases in Europe (in Euro’s).

I was called by a representative from Bangkok Bank explaining me what happened and the only thing I has to do was to state that I disputed these expenses. I got all the money back in Baht so that in the end it did not cost me anything.

Very good proactive action taken by Bangkok Bank.

[orchidlady]

I wondered if Bangkok Bank was giving me the run around regarding the reimbursement rate. I will followup with visa. there is a slight possibility they treat debit visa cards differently than credit cards in return to currency conversions.

It took 10 days to get the reimbursement given.

My credit card from US expired several months ago. They used to fed ex the card to me paying the fee. The new manager said no. I asked to pay the fee and have them send it by fed ex they said no, "too much of a risk to send to Thailand". My mother has power of atty only for that account and so they ended up sening the card to her. I asked her to send as bank wouldn't pay the fee. My mother who does a lot more banking with the bank involved had to stick her nose in this business. When she found out they thought it too much of a risk, she kept the card and tells me to come get it in person--she won't send it as the bank advises not to. So I was stuck. I will get it later this year but can't go home right now. This bank pays all the foreign transaction fees, atm charges etc so it is really missed. I am going to try to get a Thai credit card so I can charge hotel reservations and airfares in the interim. For the few online purchase I want from now on I will use the option to order and pay at 7/11 within 20 minutes or so.

[Pib]

Thanks. Will be interesting to know why you only got around 90% returned due to the currency conversion. As far as I know the baht exchange rate has been pretty stable, plus or minus just a few percent against the USD for the last few months. And use of the Bangkok Bank debit card only incurs a Bt100 fee for ATM withdrawal outside of Thailand...don't know if that Bt100 fee applies for a purchase transaction also or they apply a couple percent foreign transaction fee like when using their credit card. And even if it was a Bangkok Bank "credit card" then only a 2.5% currency conversion risk premium is incurred. I love Bangkok Bank's name of "currency conversion risk premium" for foreign transaction fee...came up with new name just to avoid the use of the word "fee."

Yea, like you, I can't understand how the reimbursement came up around 10% short due to currency conversion fees.