Bangkok Bank (BBL) has informed its existing customers that the bank is ready to forego charges for clients who wish to switch their ATM and debit cards from a magnetic-strip to a chip-enhanced card.
Before issuing a new card, banks in Thailand usually charge customers between THB100 to THB200.
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The bank is promoting chip-enhanced cards to prevent fraud by card skimming and cloning, according to the local publication The Nation.
Bangkok Bank senior vice president Pochanee Kongkalai was quoted by the news agency as saying that the bank believed its message to customers about the card changes would lead to a larger number of its customers wanting to make the switch to the chip-enhanced card.
According to the report, BBL has also formed a team to monitor fraud, including unusual transactions using ATM and debit cards.
Currently, only 2.5 million of BBL ATM and debit cardholders out of total 17 million customers are using the chip-enhanced versions.
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By GlobalDataHowever, majority of the bank’s white-collar customers converted to the chip-enhanced ATM and debit cards.
