Bangkok Bank credit card for foreigners

[doctormann]

This post is not specifically about Bangkok Bank but might be useful anyway.

 

I am in the position where Barclaycard UK has closed my credit card account because I don't have a 'verifiable' UK address.  'Verifiable' is the key word here - using an accommodation address or that of a relative will not work.

 

So, I wanted to get a CC from a Thai bank.  I am retired - no work permit - so meet with the usual difficulties over this.  I was aware of the 'secured account' option - not ideal but better than nothing.  Most banks didn't want to know - in fact TMB denied that anything such as a secured deposit account even exists!

 

Now, it appeared that Kasikorn might be able to help so I went to talk to them.  They were very helpful - yes, it could be done.  I would need to open a savings account first, then open a secured deposit account and a VISA CC would subsequently be issued.  All looked good so I transferred a not inconsiderable amount of cash from UK into the new Kasikorn savings account.  This took a little while to do but it seemed as though I was all set to go.

 

So, I went back to Kasikorn, saw the same lady as before, only to be told that yes, I could open the secured account but, as I didn't have a work permit, a CC could not be issued unless I subscribed to a ridiculously-priced accident insurance plan, which i was not prepared to do.  Impasse!!

 

I've given up but what really p*sses me off is that I now have a totally unnecessary Kasikorn savings account!  Kasikorn knew full well that I was on a retirement extension, being retired!  Ah well, I suppose that I might as well draw down on the new savings account for living expenses.  Not impressed though - I don't like being given the run-around.  TiT though so I'm not really surprised!

[BritManToo]

11 minutes ago, doctormann said:

'Verifiable' is the key word here - using an accommodation address or that of a relative will not work.

Why not?

 

[doctormann]

2 minutes ago, BritManToo said:

Why not?

 

 

Council Tax bill in your name is required.  Basically, you have to prove that you are living at the address you claim to be living at.

Utility bills might work but, again, need to be in your name.

I'm not saying that it's impossible to fool Barclaycard but probably not a very good idea to try, especially if you do your other banking activities with the same group.

[BritManToo]

16 minutes ago, doctormann said:

Council Tax bill in your name is required.  Basically, you have to prove that you are living at the address you claim to be living at.

So guys living with their parents can't have credit cards in the UK?

[doctormann]

2 minutes ago, BritManToo said:

So guys living with their parents can't have credit cards in the UK?

 

I expect that they can because they would have ways of proving their residence, because they are actually resident.

 

However, UK ex-pats without a permanent, verifiable UK address can not.  At least, not with Barclaycard.

 

On a vaguely related matter, my daughter who lives in Spain but still has UK bank accounts, has just had her LLoyds savings account frozen because, again, she doesn't have a permanent UK address. 

 

It seems that the banks are tightening up all the time - all to do with fraud and money-laundering.  I've just been given the third degree by Barclays International  as to why I need my Isle of Man account and what precisely do i intend to use it for.  The account has been operating for 14 years already so i would have thought that this would be rather obvious by now!

 

 

[Led Lolly Yellow Lolly]

I have no ties at all with my home country, all bank accounts closed etc. In fact, on the rarefied occasions I have to visit the UK for whatever reason, I use my Thai driver's license to rent a car etc (people don't realise that is actually what you're supposed to do but please don't make me get into a debate about that). It seems reasonable to me that UK banks won't allow you to maintain a resident account if you are not a resident.

 

I'll post my experience in case someone finds it interesting. Credit cards are important to me for a couple of reasons. I stay in a lot of hotels, it's hard to reserve rooms with only a debit card, and generally if you can't swipe a credit card upon check in you have to pay cash security deposit. This is a convenience issue. Further, debit cards are not accepted on flights for purchases, they will only accept credit cards.

 

The cash on deposit option is hit and miss because the bank staff don't generally know about it. I have an SCB credit card, not because I need or want credit, but purely for the convenience issue when travelling as I highlighted above. I have work permit and there are large volumes of cash going through my account every week. I believe the minimum salary they expect for foreigners is 50K/month. I didn't find the process any harder than in my own country. You won't get a credit card anywhere without salary, legal residency and form.

Edited September 30, 2018 by NilSS

[Led Lolly Yellow Lolly]

On 9/1/2017 at 9:42 AM, allane said:

A "secured credit card" isn't a credit card, it is a debit card. If you deposit, say, B 20,000, you can charge up to that limit; if you want to charge more, you have to deposit more money first. My credit card is a credit card.

It IS a credit card, you're borrowing on secured money. Credit cards are fundamentally different behind the scenes. Observe the raised digits on the card compared to flat digits on the debit cards. Credit cards can be swiped on carbon paper and the bank guarantees payment (for example, on flights for duty free purchases). Debit cards are not guaranteed by the bank in this way and they'll never be accepted where the bank cannot be contacted electronically, or where future payment needs to be guaranteed (for example, making advanced bookings where payment is later deducted).

Edited September 30, 2018 by NilSS

[BritManToo]

32 minutes ago, NilSS said:

if you can't swipe a credit card upon check in you have to pay cash security deposit.

Never happened to me in the Philippines, Malaysia, Thailand, China, Vietnam or Laos.

They all want cash, a night or two at a time. The airlines like cash too.

I've not been asked for a 'security deposit' in the past ten years.

Edited September 30, 2018 by BritManToo

[Led Lolly Yellow Lolly]

Quote

 

 

Never happened to me in the Philippines, Malaysia, Thailand, China, Vietnam or Laos.

They all want cash, a night or two at a time. The airlines like cash too.

I've not been asked for a 'security deposit' in the past ten years.

 

 

 

Honestly mate, the inference that airlines won't accept credit cards is just cobblers. I don't know what parallel universe you're in but you any international standard hotel accepts creit cards only, (or cash) for advance bookings and security. I guess the sort of places you stay at can't get a PDQ machine from their bank, hence the cash only option in your case.

 

Full disclosure: I'm a hotel manager. I'm also an IT consultant and regularly deal with PCI compliance in secured networks. I know what I'm talking about. 

 

 

 

 

Edited September 30, 2018 by NilSS

[Scottjouro]

8 hours ago, KhunFred said:

I am RETIRED. Those who are on extension of stay based on retirement, CANNOT work. That is the law.

 

And your point is ?... then in terms of most banks you dont qualify for an unsecured credit card then, as you dont meet their risk profile for credit worthiness and would therefore require a secured CC

 

BTW getting an unsecured CC is has absolutely nothing to do with how much you have in your savings account, a lot of it has to do with your "residence" status in a country, for example i live in Thailand and Bank in Singapore and have a " premier"  account and i cannot be issued an unsecured credit card in Singapore as i am not a Singapore Resident or work passholder, so the CC i have issued from the Singapore bank is a secured credit card...

 

So this not just a Thai Bank thing...