Gold Shops Refusing My Thai Debit Card

[mercman24]

just popped into 4 gold shops, they all wanted cash, ?? would not accept my visa debit card,just asking, would this be some kind of (me no,pay tax ) on cash transactions, and would i have any leverage should anything about the purchase go wrong. ? was told what was 10,000 baht worth of gold is now 11,000 ?? (necklace), thanks KC.

[jerojero]

Possible they are not above board with all their internal "accounting" practices? Cash leaves no financial trails.

Edited February 22, 2016 by jerojero

[PattayaAl]

1. Banks have a fee for using cards

2. Not all businesses in Thailand have the facilities and is not very easy to obtain

3. If paid through a card, money must go to

Business account , ie tax

4. Bank withholds a further amount of tax on received money.

So basically paying with card cost around 4%-5% of the charged amount.

[mercman24]

thanks for the reply, it is not as if i am buying my groceries, but taken on board.as i just dont fancy carrying thousand around with me.

[Crossy]

Since it's a debit card, just go and poke it in an ATM

Thailand is still very much a cash-based society, just how much gold are you intending buying?

[mercman24]

on a sidenote, i was thinking of me hiding round the corner and sending the good lady into the shop, as them seeing a "farang" baht signs light up, recently a guy wanted 500 baht to change my watch battery. (nice watch, couldn't get the back off) sent a lady friend round , yep job done 100 baht.

[Don Mega]

on a sidenote, i was thinking of me hiding round the corner and sending the good lady into the shop, as them seeing a "farang" baht signs light up, recently a guy wanted 500 baht to change my watch battery. (nice watch, couldn't get the back off) sent a lady friend round , yep job done 100 baht.

They have big signs advertising the gold price, bit hard to jack up the price cause farang.

[KhunBENQ]

was told what was 10,000 baht worth of gold is now 11,000 ?? (necklace), thanks KC.

It's called gold price.

30 days, THB:

30 days, USD:

Edited February 22, 2016 by KhunBENQ

[Bantex]

on a sidenote, i was thinking of me hiding round the corner and sending the good lady into the shop, as them seeing a "farang" baht signs light up, recently a guy wanted 500 baht to change my watch battery. (nice watch, couldn't get the back off) sent a lady friend round , yep job done 100 baht.

For some purchases, I go into shops followed by wife at a distance. When I see what I want, I set them on the floor and my wife picks them up and buys them a lot cheaper than would be sold to me.

Getting back to the OP's post, any gold shops I've been in always accepted debit or credit cards, some add on the 3-5% bank fee and a few just charged the flat price, some have asked to see my passport (to prove the card is mine and not stolen) whilst others just accept the card.

There seems to be no standard practice but I suppose being irregular is normal in Thailand.

[Mrjlh]

This may or may not be the case but several years ago I bought a gold ring at large gold store. I had the cash in my ATM account. They wouldn't accept my ATM either so I used a credit card which they gladly accepted. No issues because it was all covered one way or the other. And it was a better choice because I then had the ability to disputer any issues that may arise. Their answer when asked, credit cards covers the transaction, ATM's do not. If it bounces, it bounces they get no money.They believe the credit card has more security than that of an ATM. Whether this is fact or fiction, it does not matter, it's what they believe. Not much you can do because it comes down to the store and their policy or what they say. Remember the saying, "We reserve the right to refuse service to anyone" Applies here too.

[Pib]

The last time I bought some gold a few months ago in a Bangkok gold shop I wanted to see if they would accept my credit card...no problem but they would charge an extra 2.5% fee. Of course that was to take care of the approx 2.5% credit card fee hit the gold shop would be hit with. Buying gold in Thailand is pretty much a cash affair unless you want a fee tacked on....and assuming you are at a gold shop that takes credit/debit cards.

[PattayaAl]

This may or may not be the case but several years ago I bought a gold ring at large gold store. I had the cash in my ATM account. They wouldn't accept my ATM either so I used a credit card which they gladly accepted. No issues because it was all covered one way or the other. And it was a better choice because I then had the ability to disputer any issues that may arise. Their answer when asked, credit cards covers the transaction, ATM's do not. If it bounces, it bounces they get no money.They believe the credit card has more security than that of an ATM. Whether this is fact or fiction, it does not matter, it's what they believe. Not much you can do because it comes down to the store and their policy or what they say. Remember the saying, "We reserve the right to refuse service to anyone" Applies here too.

Fiction,

It is other way around.

Credit cards have the facility of charge back, ATM cards have none as it requires the pin number.

[Pib]

This may or may not be the case but several years ago I bought a gold ring at large gold store. I had the cash in my ATM account. They wouldn't accept my ATM either so I used a credit card which they gladly accepted. No issues because it was all covered one way or the other. And it was a better choice because I then had the ability to disputer any issues that may arise. Their answer when asked, credit cards covers the transaction, ATM's do not. If it bounces, it bounces they get no money.They believe the credit card has more security than that of an ATM. Whether this is fact or fiction, it does not matter, it's what they believe. Not much you can do because it comes down to the store and their policy or what they say. Remember the saying, "We reserve the right to refuse service to anyone" Applies here too.

Fiction,

It is other way around.

Credit cards have the facility of charge back, ATM cards have none as it requires the pin number.

When you are doing a Point of Sale (POS) transaction in Thailand no PIN is required for credit card or debit/ATM card unless maybe you have a card that absolutely demands a PIN number. I have watched hundreds, probably thousands, of people paying with credit and debit cards at checkouts in Thailand (and I'm using credit and debit cards also)---never, ever been been required to enter a PIN.

Whether you get a refund in a dispute with credit card or debit card is purely between you, the card issuing bank, and the merchant. But yes, generally you do have more consumer protection when using a credit card.

[Mrjlh]

This may or may not be the case but several years ago I bought a gold ring at large gold store. I had the cash in my ATM account. They wouldn't accept my ATM either so I used a credit card which they gladly accepted. No issues because it was all covered one way or the other. And it was a better choice because I then had the ability to disputer any issues that may arise. Their answer when asked, credit cards covers the transaction, ATM's do not. If it bounces, it bounces they get no money.They believe the credit card has more security than that of an ATM. Whether this is fact or fiction, it does not matter, it's what they believe. Not much you can do because it comes down to the store and their policy or what they say. Remember the saying, "We reserve the right to refuse service to anyone" Applies here too.

Fiction,

It is other way around.

Credit cards have the facility of charge back, ATM cards have none as it requires the pin number.

Not fiction....depends if you have an ATM card that is only an "ATM card that requires a pin or one that also serves as a Credit card too. Mine can be used the same as a credit card, requires no Pin number but is connected to the bank account and money is dispensed immediately. I have a very low limit on the transaction just in case it is stolen. Plus I change the pin "online" quickly if it is lost. I also have just an ATM w/pin. You need to set it up with the bank.

[Satcommlee]

Thai businesses have a bit of a problem telling the difference between an ATM(Debit) card and a Credit Card.

A credit card comes with 3% fees which the shop would have to cover, With a debit(ATM) card the fees are much lower and are actually cheaper than the fee charged to pay the cash into the bank.

At the end of the day they simply want cash in the back pocket it often helps mitigate the effect of such things as Tax and VAT.. so run along to an ATM.. Its no big deal.

[thrilled]

Ygo to the bank get baht and bring it back.Those gold shops charge 3-4% more when using A card.The shops like baht.

[PattayaAl]

This may or may not be the case but several years ago I bought a gold ring at large gold store. I had the cash in my ATM account. They wouldn't accept my ATM either so I used a credit card which they gladly accepted. No issues because it was all covered one way or the other. And it was a better choice because I then had the ability to disputer any issues that may arise. Their answer when asked, credit cards covers the transaction, ATM's do not. If it bounces, it bounces they get no money.They believe the credit card has more security than that of an ATM. Whether this is fact or fiction, it does not matter, it's what they believe. Not much you can do because it comes down to the store and their policy or what they say. Remember the saying, "We reserve the right to refuse service to anyone" Applies here too.

Fiction,

It is other way around.

Credit cards have the facility of charge back, ATM cards have none as it requires the pin number.

When you are doing a Point of Sale (POS) transaction in Thailand no PIN is required for credit card or debit/ATM card unless maybe you have a card that absolutely demands a PIN number. I have watched hundreds, probably thousands, of people paying with credit and debit cards at checkouts in Thailand (and I'm using credit and debit cards also)---never, ever been been required to enter a PIN.

Whether you get a refund in a dispute with credit card or debit card is purely between you, the card issuing bank, and the merchant. But yes, generally you do have more consumer protection when using a credit card.

You are confused on too many levels.

To start with atm card is an atm card and it does require a pin .

A debit card which is also a credit card does not.

When charge back is filed , it is not between you and the bank .

There are a number of points for which charge back can be filed .

1. You did not use the card, easily proven when bank asks merchant to provide copy of receipt and signature does not match. Charging bank takes money out of merchant account and credits back to you

2. Not as described. You would have to provide evidence that item is different to what was for sale.

3. Does not fit the purpose. Example: if you bought water proof watch but it leaks.

[PattayaAl]

This may or may not be the case but several years ago I bought a gold ring at large gold store. I had the cash in my ATM account. They wouldn't accept my ATM either so I used a credit card which they gladly accepted. No issues because it was all covered one way or the other. And it was a better choice because I then had the ability to disputer any issues that may arise. Their answer when asked, credit cards covers the transaction, ATM's do not. If it bounces, it bounces they get no money.They believe the credit card has more security than that of an ATM. Whether this is fact or fiction, it does not matter, it's what they believe. Not much you can do because it comes down to the store and their policy or what they say. Remember the saying, "We reserve the right to refuse service to anyone" Applies here too.

Fiction,

It is other way around.

Credit cards have the facility of charge back, ATM cards have none as it requires the pin number.

Not fiction....depends if you have an ATM card that is only an "ATM card that requires a pin or one that also serves as a Credit card too. Mine can be used the same as a credit card, requires no Pin number but is connected to the bank account and money is dispensed immediately. I have a very low limit on the transaction just in case it is stolen. Plus I change the pin "online" quickly if it is lost. I also have just an ATM w/pin. You need to set it up with the bank.

I just responded to what you said and you said ATM card

[Pib]

Why would a person attempt to buy gold or purchase anything with an "ATM" card? (Note: not saying the OP attempted this...he said he used a debit card). "Usually" an ATM cards can only be used in ATM unless the merchant happens to use the network used by the card-issuing bank, but debit cards can be used in an ATM or for purchases.

The term ATM card is many times misused when in fact they are talking a debit card. Usually an ATM card does "not" have a Visa/Mastercard logo and does not fully integrates into the Visa/Mastercard card network, whereas debit and credit cards do assuming they are Visa/Mastercard logo cards.

But I will say there are hybrids of ATM/debit/credit cards which blurred the lines between the cards.

Edited February 23, 2016 by Pib

[mercman24]

well i went to the gold shop today, paid cash, and got nearly 2,000 baht off the first price quoted, so i know gold is a daily price per gram ? but just proved she was trying to rip me off,if she could drop 2,000 baht, and all we got was i piece of red paper, with no date of purchase on it, still her indoors was happy, aahh !!

[prepress]

Sorry, a side question:

If I buy gold (for investment) in a Thai gold shop, do I get an official certificate if the gold is genuine - which is accepted in another Thai gold shop if I want to sell it?

[Pib]

Sorry, a side question:

If I buy gold (for investment) in a Thai gold shop, do I get an official certificate if the gold is genuine - which is accepted in another Thai gold shop if I want to sell it?

The wife and I never have in buying gold such as necklaces, brackets, etc., over the years at various shops. As always, buyer beware.

Edit: Also, if they were knowingly selling fake/low karat gold, I'm sure they would be just as willing to provide a fake certificate.

Edited February 24, 2016 by Pib

[Tomtomtom69]

Try another gold shop. I went to one and they happily accepted my credit card. No way I would have considered making a cash advance on my credit card, taking months to pay back including the exhorbitant interest just because some shops are stuck in the 19th century.

Plenty of gold shops accept credit cards. However, some will charge an extra 2-3% on top of the purchase amount but that beats whatever commission and fees/charges your home bank will charge for making a cash advance.