Capt Anuwat Raksayot of the Phuket City Police was notified of the robbery at 6:20pm and soon arrived at the scene, at a house in Moo 5, Rassada, off the bypass road, with fellow officers.
Juthaporn Chudam, 50, who lived in the house, told police that she had arrived home at about 5pm to find two men about 20-25 years old and armed with long knives inside her house.
One man was brandishing a 70cm blade and the other held a 30cm knife.
Inside the house, German national Wilhelm Schrei had been bound with black tape and was sitting in a chair. He had a 12cm wound on his left arm from trying to fight off the attackers.
The men demanded Ms Juthaporn to hand over valuables. She gave them ATM cards for accounts at two different banks and told them the PIN numbers.
After the men fled through the back of the house, Ms Juthaporn freed her husband and took him to Bangkok Hospital Phuket, and reported the incident to police.
Ms Juthaporn called the banks to cancel the cards and found that only B5,100 had been withdrawn.
Phuket City Police are now searching for the two suspects.
Mr Schrei is recovering at Bangkok Hospital Phuket.