Bangkok Bank caution about Visa Letter - things have changed

[smedly]

42 minutes ago, Mark123456 said:

I've personally met several people who ran away from the UK owing money on credit cards, one more than £30,000 but that doesn't prove anything. My point was that Thai people are not stupid and they understand perfectly well what a credit card is and how it is supposed to work but the banks would have no way to recover debts from foreigners who decided to go home so it's understandable they ask for guarantees in many cases. That's a simple, indisputable fact, not a troll.

 

You don't need credit cards to buy things online from overseas vendors either. You can use a visa debit card, as others have stated. You seem to have a poor grasp of how banking payment systems work.

I know several who are living here on credit running up huge balances on a number of cards, they would do the same on Thai based cards if they could get away with it but the banks here know better, as to how many Thais can actually get credit of any kind I do not know but there sure is wide spread use of illegal loan sharks which indicates that Thais don't get credit easily, maybe for a car or something that can be reclaimed if a default occurs, I remember back in the day I had to get someone to co-sign a loan application.

 

The banks here know exactly why they want credit cards covered with cash - you are absolutely right, but in saying that I fail to see the reason why anyone would want a CC under those conditions because it is not credit at all, a debit card would likely be a better and cheaper option 

[LannaGuy]

1 hour ago, smedly said:

I know several who are living here on credit running up huge balances on a number of cards, they would do the same on Thai based cards if they could get away with it but the banks here know better, as to how many Thais can actually get credit of any kind I do not know but there sure is wide spread use of illegal loan sharks which indicates that Thais don't get credit easily, maybe for a car or something that can be reclaimed if a default occurs, I remember back in the day I had to get someone to co-sign a loan application.

 

The banks here know exactly why they want credit cards covered with cash - you are absolutely right, but in saying that I fail to see the reason why anyone would want a CC under those conditions because it is not credit at all, a debit card would likely be a better and cheaper option 

 

Exactly and understood but my thread is about alerting others that any guarantee on their visa money account could result in no bank letter as happened to me.

 

The pros and cons of CCs and debts etc. is off topic but you do bring up the point that others have that the whole concept of a CC here seems abstruse and that is food for thought.

 

The message here is go check your visa account to ensure you get your letter stating 800,000 - hope it helps some.

 

 

[CMBob]

5 hours ago, LannaGuy said:

 

Exactly and understood but my thread is about alerting others that any guarantee on their visa money account could result in no bank letter as happened to me.

Yes, hopefully this extended thread will help others not have the same misunderstanding as you had and, to that degree, it's an alert

 

However, to be fair and a bit more accurate, you started this discussion complaining about a supposed "change" in how Bangkok Bank now (apparently suddenly?)refused to count pledged funds (relating to a supposed credit card which really isn't a true credit card) towards the 800k baht bank account balance to support a retirement extension.  In fact, there's been no change at all. 

[colinchaffers]

If you look at what he said, he says the system changed in so much that the bank typed the amount n his account, but he the process was automated it then included the net figure, minus the guarantee for the credit card. In his eyes it changed and i tend to agree with him, and by the way strictly he had 800KTHB in his account which is the requirement.

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[LannaGuy]

4 hours ago, CMBob said:

Yes, hopefully this extended thread will help others not have the same misunderstanding as you had and, to that degree, it's an alert

 

However, to be fair and a bit more accurate, you started this discussion complaining about a supposed "change" in how Bangkok Bank now (apparently suddenly?)refused to count pledged funds (relating to a supposed credit card which really isn't a true credit card) towards the 800k baht bank account balance to support a retirement extension.  In fact, there's been no change at all. 

Yes there has!!!  I have been here 10 years and always had the letter typed at Kad Suan Kaew branch Chiang Mai and it has CHANGED

 

Now they have 'head office' automation letters which preclude the 200,000 and the letter say's 600,000

 

That might not seem a change to YOU but it is to ME and I nearly lost my visa!  right ?

Edited March 29, 2017 by LannaGuy