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lust

Are debit cards the same as credit cards?

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I have a savings account with Kasikorn. My ATM card says “Credit Card”, but I was under the impression all Kasikorn ATM cards all said that. Ive always used it to withdraw cash from ATMs when I want to pay. 
 

I went for dinner at a popular restaurant just now and asked where the nearest ATM is, and they said I can pay with my ATM card. I was expecting her to swipe my card and ask me to enter my 4 digit number to confirm my identity. She swiped my card, entered my expiry date, and it was instantly improved. 
 

I had no idea this was possible. I wasn’t asked to show ID or anything. 
 

If I lose my card, it can be used by anyone to make purchases?

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2 minutes ago, lust said:

If I lose my card, it can be used by anyone to make purchases?

Yes, it's stupid that we're not even in the age of chip and pin yet, if you lose your card cancel it immediately.

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4 minutes ago, Greyhat said:

Yes, it's stupid that we're not even in the age of chip and pin yet, if you lose your card cancel it immediately.

Dang... I had no idea the card alone held any value. Okay, noted. 

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1 minute ago, Lacessit said:

No. A debit card can only be used up to the balance present in the account. A credit card can be used up to the credit limit, which may be more than the net worth of the individual..

One does not pay interest on a debit card. The interest rate on a credit card is set by the bank.

 

A debit card can be used up to the daily value set by the bank or by the customer and this can be changed, daily values of as low as 20,000 or as high as several hundred thousand are possible, based on the bank and the customer.

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17 minutes ago, lust said:

If I lose my card, it can be used by anyone

Yes I know, a Mr M Mouse signed for my card to be used for a Toyota service.

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7 minutes ago, Greyhat said:

Yes, it's stupid that we're not even in the age of chip and pin yet, if you lose your card cancel it immediately.

Same as with a credit card.

I only use a debit card. No need to use revolving credit, i don't need it ,I have enough cash. 

Simply have two accounts, a Savings account, and a Checking account  with a debit card. 

Only keep a small amount ($1,000-$2000) in checking to cover expenses,  DO NOT HAVE OVERDRAFT PROTECTION linked to your savings account.  

   That way if you are hit, they can only hit you for the amount in the checking account. If you need to make a purchase larger than the funds in your checking account, you can transfer funds from your savings account in seconds over the internet.

Ask your bank about it and see if the have these capabilities.

 

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24 minutes ago, lust said:

I have a savings account with Kasikorn. My ATM card says “Credit Card”

I have a savings account with SCB and my ATM card says Debit Card at the bottom left corner.

 

I would be making enquiries if you didn't request one, because Credit Cards usually have a 5% surcharge on purchases and have other charges like interest on cash withdrawals and annual fees for most.

 

The Debit Card has no charges except for an annual fee of around 200 baht or so, that said, you have to check with some retailers as staff will try to add 5% because to them they can't tell the difference until you challenge them.

Edited by 4MyEgo
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I have a credit card. It too can be used for purchases, with no requirement for either a signature or a PIN. (Up to a certain limit, which I can't remember). This is not progress. I am old enough to remember when one of the selling points for credit cards was that they were safer than cash.

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7 minutes ago, wgdanson said:

Yes I know, a Mr M Mouse signed for my card to be used for a Toyota service.

easy to track the fraudster in your example i.e. number plate

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In all the years I have been here, I have never ever seen anyone anywhere check or even look at the name on a card or look at the reverse or compare signatures etc. I dont think the staff are even trained in this.

The ridiculous thing is that the cards dont even carry a name ! just "member" etc

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1 hour ago, saengd said:

A debit card can be used up to the daily value set by the bank or by the customer and this can be changed, daily values of as low as 20,000 or as high as several hundred thousand are possible, based on the bank and the customer.

Actually the last debit card I obtained from Bangkok Bank was set for 5,000 baht by bank - I had to use phone banking to change it (many menu and number inputs so best to download example first).  

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2 minutes ago, lopburi3 said:

Actually the last debit card I obtained from Bangkok Bank was set for 5,000 baht by bank - I had to use phone banking to change it (many menu and number inputs so best to download example first).  

I am not sure, but i think the limit is for withdrawals  not not transactions. 

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