What you need to get a cash card in Thailand
This guide below walks you through the ways to prepare yourself with the steps and documentation before applying for a Cash Card
You need to open a Thai bank account to receive a cash card in Thailand
Cash cards are linked to your checking or savings account directly. You’ll need to open one of these accounts at a bank if you don’t already have one. You can open a checking or savings account either online or in person at a bank branch. Some banks will allow you to open the account remotely, others will require you to do it in person. Some banks will verify your details the same day while others have a certain waiting period. There can be a different policy from the same bank but an adjacent branch. Things are a lot easier in Thailand when you have a Thai ATM card and an account to transfer money into so wherever you are in the world it is easy for you to manage your investments with the best protections and guarantees.
Key Points
- Cash cards can provide a convenient way to pay for things in the real world or online, with more security.
- Make sure your PIN should not include your social security number, birthday, phone number, or any other personal information.
- Things are a lot easier in Thailand when you have a Thai ATM card and an account
Documents required to open an account
Some banks will allow you to open the account remotely, others will require you to do it in person. Although most banks will give you a detailed guide on the documents you should bring to the branch, it is recommended to bring more than what is required. For instance, if the branch asks you for another bank statement or utility bill, carry different utility bills from different companies and bank statements from more than one bank. Bringing more documents than required will assist you in avoiding problems and get the bank account up and running as soon as possible.
To be eligible to get a bank account, you will be required to have documents such as
- A Thai driving license.
- A Thai house registration or letter from a landlord
- A work visa or a letter showing you are qualified to get a work visa
- A tourist or student visa
- A reference letter from a Thai university or embassy
- A reference letter from a “reputable” Thai citizen or a high standing Thai
organization - Letter from a company saying that you are getting a work permit
- Photo ID or passport
A Thai house registration or letter from a Landlord
The Thai house registration letter is basically a root identity document in Thailand, and it is sort of a distinct type of document for people arriving from a western perspective. In order for financial institutions to check the address’s reliability as a source and track it. If you have a case for debt repayment, it is important that you keep this section up to date. It’s a letter that keeps track of information about a particular household. Before applying for an account, double-check that your current address and the address on the house registration match. It is important to complete the documentation if the current address and the address on the house registration do not match.
“Bringing more documents than required will assist you in avoiding problems and get the bank account running as soon as possible and get your Cash card quickly.”
Salary Certificate from Company
A Salary certificate or Pay slips are provided from your employer of the company with written evidence of your job and salary entitlement. It is provided by the employer at the request of the employee. A salary certificate is a document that verifies your position in the company as well as your salary. This document normally contains information about your time with the company and it is normally printed on company letterhead with the signature and seal of the authorized personnel. It is not addressed to any particular organization and may be used for a variety of purposes. Most banks will ask for a copy of your pay slip for one month as proof that you got the stated salary and worked at the company according to the information you filled out in the actual application, but other banks will ask for 3-6 months depending on the terms of each bank. It helps the bank to ensure that it is lending funds to an individual that is holding a steady income and has the potential to repay the debt. This information is an important factor in the institution’s or bank’s decision on your creditworthiness.
The Thaiger will help you to provide a Cash Card which is very useful for the people who feel they don’t have good money management skills
Request your Cash Card
You’ll be able to request a cash card associated with that account as part of the account opening process. If you apply for an account at a bank branch in person, you can get your card right away. You don’t have to worry about racking up a credit card bill or the interest charges that come with it when a cash card is directly connected to your checking account. Using a cash card is similar to writing a check, but without the hassle of filling out a piece of paper in line, and it allows you to quickly withdraw cash from your checking account at an ATM.
Activate your Card
You’ll need to activate your card once you’ve received it. If you get a personalized cash card in a branch, the bank employee who assists you with your application handles the activation. You may activate your card yourself if you get it by mail. This is a simple and fast procedure that you can complete over the phone or online. To prevent would-be hackers, use a secure, password-protected internet connection if you want to activate online. You will also be asked to choose a personal information number as part of the activation process (PIN). This is the four-digit code you use to withdraw money from an ATM. Maintain the secrecy of your PIN. Your card may come with a bank generated PIN or you can create your own—you can usually change it during the activation process, and your PIN should not include your social security number, birthday, phone number, or any other personal information.
Once your card has been activated, you can use it anywhere online or at ATMs. There are a variety of cash card options available, so doing some research to determine which one is best for you is recommended. However, if you’ve chosen the best cash card for you and started using it, there are ways to reduce the risks.