Thai bank debit card changes

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Gaybutton
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Thai bank debit card changes

Post by Gaybutton » Tue Dec 03, 2019 1:00 pm

Several Thai banks are switching over to chip cards for their debit cards and the change is mandatory. Exchanging your old debit card for a new chip card is free.

They are also now using 6 digit passwords.

At some point in January debit cards that have not been exchanged will become invalid and you won't be able to use them at ATMs. Some of you who are not in Thailand, but hold a Thai bank debit card may not be able to withdraw funds from an ATM upon arrival if you still have your old card. You might want to use the debit card wherever you are now, and withdraw however much baht you'll need before coming to Thailand and before you'll have a chance to go to your bank and exchange the card.

Of course, if you are not in Thailand, your local currency will come out of your ATM, but the withdrawal will be from your Thai bank account.

If you have not already checked with your bank and exchanged your card if your bank requires it, you'll need to take the old card, your passport, and preferably your bank passbook when you go to make the exchange. Taking the passbook is not necessary, but preferable.

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Re: Thai bank debit card changes

Post by Jun » Tue Dec 03, 2019 3:33 pm

The Kasikorn card I have had for 2 or more years is a chip type with 6 digit pin.

My UK cards have a 4 digit PIN, so to avoid confusion at the ATM, I have "6 digit pin" written on the front of the card with a permanent marker pen.

Incidentally, for anyone who has a Thai ATM card which will not work upon arrival in Thailand, the most economic way to get baht is probably to bring cash and exchange it at the airport rail station (NOT the airport).

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Re: Thai bank debit card changes

Post by ilz » Tue Dec 03, 2019 8:24 pm

For those regularly coming to Thailand, I wonder why bothering about withdrawing money on arrival when it is so easier to keep a good ten of thousands bahts from the former trip and bring it on the next one.

The added bonuses being be able to show the 10.000 bahts which could be asked for by the Immigration Officer, and to have everything ready (with the needed change) for the first expenses (tolls, taxi, tip for bellboy and so on). And when the baht is rising, there is no better investment !

That looks so simple but I often read about regular visitors wondering about where to get money on arrival, at the airport or elsewhere.

This said, thank you GB for this information, as failing to be forewarned could turn your first hours in Thailand into a nightmare.

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Re: Thai bank debit card changes

Post by Jun » Wed Dec 04, 2019 2:21 am

Agreed. I've never actually withdrawn money on arrival.
I've got just over 11000 baht from the last trip which gets me started.
I'll also change a load of cash to baht upon arrival and most of it will get paid into my Thai bank account the same evening. For which an ATM card is useful.

Since we have had low inflation for a couple of decades, it's usually more economic to hang onto currency until the next trip, rather than change it. I also have some smaller notes for transport.

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Re: Thai bank debit card changes

Post by gerefan » Wed Dec 04, 2019 3:03 am

Anyone know which banks? Surely, if it’s happening only next month, they would have announced it by now?

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Re: Thai bank debit card changes

Post by Gaybutton » Wed Dec 04, 2019 5:02 am

gerefan wrote:
Wed Dec 04, 2019 3:03 am
Anyone know which banks? Surely, if it’s happening only next month, they would have announced it by now?
Most banks have announced it, many quite some time ago. I received my notifications by text message, some recently, some months ago. I've also seen notifications at ATMs and messages on online banking. I have accounts at several banks. Sorry, I'm not going to publish a list of my bank accounts, but I've received notifications from all of them.

There also has been newspaper articles. Here's a few. See: https://www.bangkokpost.com/business/17 ... ay-planned and: https://www.bangkokpost.com/business/93 ... rom-may-16 and: https://www.nationthailand.com/news/30376319

It is obvious that all the Thai banks are going to require it, and apparently by 15 January 2020, whether you've received or spotted an announcement or not.

If you're in Thailand, just go to any branch of your Thai bank and do it. It takes all of 5 minutes.

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Re: Thai bank debit card changes

Post by gerefan » Wed Dec 04, 2019 6:29 am

That was the problem! Being in the UK for the last few months and not using Thai online banking or my Thai phone I had not heard about this. They do have my email addy but I didn’t get anything.
Off to Kasikornbank next week...I bet it’s a lot more than 5 minutes knowing their last century love of paperwork!

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Re: Thai bank debit card changes

Post by Gaybutton » Wed Dec 04, 2019 6:40 am

gerefan wrote:
Wed Dec 04, 2019 6:29 am
I bet it’s a lot more than 5 minutes
You'll probably lose that bet. While some paperwork is involved, there's not much. I've made the switch at all of my Thai banks and the longest it took at any of them was 5 minutes.

Whether it takes 5 minutes or 5 hours, nevertheless it will have to be done if you wish to continue being able to use your Thai debit card.

From everything I've seen and read, you have until January 15. That's when the "chipless" cards will expire at all of the Thai banks.

What I don't know is whether after January 15 there will be a fee. I do know until then it's free.

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Re: Thai bank debit card changes

Post by Gaybutton » Wed Dec 04, 2019 8:21 am

A question came up: Does this affect foreign (non-Thai) debit cards or credit cards?

Answer: No

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Re: Thai bank debit card changes

Post by Jun » Wed Dec 04, 2019 11:59 pm

In my experience, Kasikorn take more than 5 minutes to issue a card. Probably 5 min waiting and over 10 for paperwork. That's still absolutely fine.

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