Thread: Thai banks to switch from magnetic-stripe to chip-embedded cards in May

Mandatory chip-embedded card issuance for debit and ATM cards will come into effect on May 16 nationwide in a move aimed at enhancing financial security, says a senior Bank of Thailand official.

"Debit cards issued by commercial banks must be chip-embedded starting from May 16, [while] ATMs will support chip cards as well," said Nisarat Trairatvorakul, senior director of the payment systems policy department.

The main aim of the move is to boost financial security since chip-embedded cards are currently the most effective mechanism to prevent ATM skimming, she said.

As chip-integrated plastic cards are much less susceptible to skimming and other types of fraud, banks are urging customers to switch....

Banks to issue chip cards from May 16 | Bangkok Post: business

Originally Posted by Hans Mann

Mandatory chip-embedded card issuance for debit and ATM cards will come into effect on May 16 nationwide in a move aimed at enhancing financial security, says a senior Bank of Thailand official.

"Debit cards issued by commercial banks must be chip-embedded starting from May 16, [while] ATMs will support chip cards as well," said Nisarat Trairatvorakul, senior director of the payment systems policy department.

The main aim of the move is to boost financial security since chip-embedded cards are currently the most effective mechanism to prevent ATM skimming, she said.

As chip-integrated plastic cards are much less susceptible to skimming and other types of fraud, banks are urging customers to switch....

Banks to issue chip cards from May 16 | Bangkok Post: business

Ahh relax BOT - the criminals have this covered already, and you know it. It's a move to the cashless society, thats all, baby steps baby steps.

Originally Posted by Hans Mann

As chip-integrated plastic cards are much less susceptible to skimming and other types of fraud, banks are urging customers to switch....

Of course they are. Thai banks charge customers for new cards.

Chip-embedded cards can only be used with the ATMs of issuing banks at present so there might be a bit of inconvenience for a while.

A 4 year transition?

Originally Posted by Pragmatic

Originally Posted by Hans Mann

As chip-integrated plastic cards are much less susceptible to skimming and other types of fraud, banks are urging customers to switch....

Of course they are. Thai banks charge customers for new cards.

Bangkok Bank never charged me for a new card, and it has a chip.

ATM Cards With Magnetic Stripes Must be Replaced - by 2020

By Sasiwan Mokkhasen
Khao Sod English

BANGKOK — The countdown has begun on the last three years of current ATM cards and their magnetic stripes, which will be replaced by chip-embedded cards.

Responding to the Bank of Thailand’s call for higher security, ATM and debit cards issued from every bank in the country include embedded chips as of Monday. Those with magnetic stripes will still function until the end of 2019.

more ATM Cards With Magnetic Stripes Must be Replaced - by 2020

Originally Posted by mykthemin

Bangkok Bank never charged me for a new card, and it has a chip.

You may well be right. But on opening a new account they charge. Also it doesn't appear that BKK offering to providing a free service as are they're 'urging customers to switch'. Why not just wait until the card expires and replace it with a chipped card?

Originally Posted by Pragmatic

Why not just wait until the card expires and replace it with a chipped card?

ATM cards don't expire.

Your conjecture that 'urging customers to switch' must mean the service is not free makes no sense whatsoever.

As I understand it, my bank (SCB) will change the card for free for the next couple of weeks, after that will need to pay (100 baht I think)

Originally Posted by pseudolus

Ahh relax BOT - the criminals have this covered already, and you know it. It's a move to the cashless society, thats all, baby steps baby steps.

Won't that be wonderful, then governments will truly own you and be able to monitor and control everything you do. Hopefully I'll be too old to care by the time it happens, which is inevitable.

Won't that be wonderful, then governments will truly own you and be able to monitor and control everything you do

So long as they are monitoring the scumbag card skimmer that tries to access my account, i dont care how much surveillance they put in place.

If you are not on the fiddle in any way, what are you worried about.

Originally Posted by taxexile

the scumbag card skimmer that tries to access my account.

Bob, you're aware that this is rife in Thailand, right?

Or are you 'too old to care'?

Originally Posted by cyrille

ATM cards don't expire.

Yes they do. I'm sitting looking at an BKK ATM card and it has an EXP date of 05/23.

Originally Posted by Pragmatic

Originally Posted by cyrille

ATM cards don't expire.

Yes they do. I'm sitting looking at an BKK ATM card and it has an EXP date of 05/23.

Yep....I believe in most instances, ATM have an associated expiration date - varying situations and financial institutions I'm sure will vary.

With the mandatory change over I could imagine that all new cards require a clause of activity - more or less - if the issued card it intended to be permanently placed [without expiration].....and higher service fees/charges whether stagnant or active.

As it has nothing to do with better/developed service, but profit.

Originally Posted by taxexile

If you are not on the fiddle in any way, what are you worried about.

the rules/thinking changing and via historical records , you being on the wrong side of the line

you will not be able to hide your university membership of the goat vagina admirers club when you are 53 and wombats are in power