Expats can apply for credit cards

Post by **buksida** » Thu Jul 10, 2008 12:18 pm

VS, most Thai banks will offer virtually nothing in terms of interest and make it difficult for you to transfer the funds overseas. But most will give you a debit card though.

Post by **Roel** » Thu Jul 10, 2008 1:27 pm

Got a new job and therefore had to a open new bank account recently here in Krabi. My employer told me I could choose Bank of Ayudhya or Siam Commercial Bank. First one refused me because I had only work permit application at that time. SCB no problem at all and after I updated my bank book yesterday I was pleasantly surprised to see that they give me interest too.

I thought that one of the few thing all Thai banks have in common was: no interest on everyday saving accounts for farangs. Although accounts opened years ago are mostly grandfathered and I still get interest on both my Bangkok Bank accounts that I openened almost 15 years ago.

I also noticed that the cash deposit machines are no longer free of charge and last week I was even charged 5 Baht for checking my balance at another bank's ATM. Now all these charges are very common in Europe but there it is the banks policy to (re)direct people to internet banking. They want them to stay clear from their ATM's and certainly from their offices with the expensive staff. Still waiting for the Thai internet banking alternative though.

Post by **Guess** » Thu Jul 10, 2008 1:40 pm

Roel wrote:...............I also noticed that the cash deposit machines are no longer free of charge and last week I was even charged 5 Baht for checking my balance at another bank's ATM.........

I have been charged as much as 30 Baht for withdrawals. The only place I have found that is free is the ATM at the branch of Bangkok Bank I am registered with.

On the subject of credit cards without work permits, if banks are prepare to issue them with a credit limit less than the holding deposit then I would think they would be queueing up to hand them out to farangs. They not only can make money on cash advance but if they are also the acquiring bank they make a percentage their too.

A question for Gutte. Do they ever charge interest (e.g if you do not pay the balance by the cut off data and, do they charge interest on cash withdrawals?

Post by **Roel** » Thu Jul 10, 2008 2:10 pm

Guess, the 5 Baht was for checking only. I did not withdrew money. Withdrawals have as far as I know always been charged. A bit when using one of your own bank's ATM's from another branch and a bit more using a different bank.

But charges for only checking your account balance was new to me. Did it many times before and has always been free at any bank. Not any more I guess.

Post by **buksida** » Thu Jul 10, 2008 2:42 pm

Most Thai banks now also offer internet banking but it is futile - if you want to do anything with it beyond checking your balance ... you guessed it, fill in the forms and take them to the bank.

Post by **Vital Spark** » Thu Jul 10, 2008 5:01 pm

buksida wrote:VS, most Thai banks will offer virtually nothing in terms of interest and make it difficult for you to transfer the funds overseas. But most will give you a debit card though.

Yeah, I thought the interest thing would be a bit of a problem. At the moment we're getting less than 3% and a boat load of hassle. Parhandy's already had a go at them about the tone of their letters. For goodness sake, they have our money to play with and send almost threatening letters demanding all sorts of information about things that are none of their business.

We're tempted to send all the information they want in Thai. It's a pretty static account and we only use the Visa card to book Ryan Air flights and car hire when we go back to the UK (every two years).

All we want is an account with a Visa facility (not Visa Electron, which we can't use on the Internet). We already have the TMB card which we use to withdraw cash here and abroad.

Is that really asking too much?

VS

Post by **buksida** » Thu Jul 10, 2008 6:06 pm

Try HSBC, they are pricks with their service charges but do have decent online facilities, reasonable interest rates and offer Visa debit cards that work overseas. Didn't have to prove a thing to open it - only address (which doesn't have to be in the UK).

No bank anywhere will accept info in Thai though - the language doesn't exist outside of Thailand! Thai banks will offer between 0.6% and 0.7%pa interest on regular accounts.

Post by **Vital Spark** » Thu Jul 10, 2008 9:35 pm

Thanks for that B. What a bottomless pit of information you are!

We'd probably have to go to the big smoke to do it, but I'll have a look at their website before we do. Anyway it's got Scottish connections, so P. thinks it might be a good bet!

VS