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Bangkok Bank customers can now withdraw cash from 7/11 stores

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Bangkok Bank customers can now withdraw cash from 7/11 stores | Thaiger

Bangkok Bank is now offering its customers the option to withdraw money at 7/11 convenience stores after teaming up with the retail giant. The move to allow customers greater access to transactional services is to help those in rural areas get cash quickly without needing to go to the actual bank.

So far, 12,500 7/11 stores nationwide are offering the service in which customers can login through the banking app named Bualuang m-Banking, and withdraw money to be picked up at the stores.

The newest service is in addition to last year’s decision to allow customers to make cash deposits into their Bangkok Bank accounts using 7/11. That service in itself saw deposits grow by 60% per month.

The bank has been developing different channels in order to offer a wider selection of services, taking into consideration its customers’ wishes. Recently, the bank added Lotus as another banking agent. A representative for Bangkok Bank says despite the digital banking trend, some customers still need to do cash transactions outside of business hours or away from ATM’s or bank branches.

Customers can make cash deposits at 7/11 counters in the amounts of 100 to 30,000 baht per transaction with a 100,000 baht per day deposit limit per account, following the Bank of Thailand’s requirements.

Cash withdrawals are permitted in the amounts of 100 to 5,000 baht per transaction with a maximum amount of 20,000 baht per day in line with ATM regulations. A 15 baht fee is added for each withdrawal. Customers must have a legal ID to make the transactions. Smartcards can also be used in leiu of an ID.

According to the central bank’s data, 30 local and foreign commercial banks in Thailand, had a total of 6,847 physical branches in 2020. But this year, that number has dropped to 6,714. Bangkok Bank had 1,168 branches last year but 20 branches have closed over the past year dropping the number to 1,148.

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9 Comments

9 Comments

  1. Avatar

    Craig

    Tuesday, March 16, 2021 at 2:29 pm

    Wow. Next, the bank pays me to go to 7. 555

  2. Avatar

    Fred glue

    Tuesday, March 16, 2021 at 2:30 pm

    Good, now get the lottery on line at 7/11 shops…

  3. Avatar

    Ian

    Tuesday, March 16, 2021 at 4:34 pm

    It would be nice if they had cash to withdraw

  4. Avatar

    toby andrews

    Tuesday, March 16, 2021 at 4:36 pm

    The banks will not like this.
    The last time I withdrew from an ATM in Thailand it cost, I think, B300.
    Here in Cambodia it is B123.
    Another example of the greed of the Thais.

  5. Avatar

    Colin G

    Tuesday, March 16, 2021 at 5:24 pm

    I bank with Bangkok Bank. Last year, if took money from other bank’s ATMs there would often (but not always be a charge of THB 10. This year, that charge seems to have disappeared. Only if I am using my UK debit cards do I ever see a charge of THB 200 and that is reasonable for a foreign currency transaction, IMHO.

  6. Avatar

    David Mann

    Tuesday, March 16, 2021 at 6:25 pm

    20 baht to use an ATM last time is used it to withdraw money from my Thai Bank account. And that was only because I was out of the province where my account is registered (a cheek to charge that but only 20 baht). I assume the 300 Baht you are referring to Toby is using a foreign ATM card?

  7. Avatar

    Gosport

    Tuesday, March 16, 2021 at 6:27 pm

    Still using cash ?

  8. Avatar

    Issan John

    Tuesday, March 16, 2021 at 10:40 pm

    Agree with David M. Free to withdraw from ATMs in your own province, including from other banks (although some banks charge), but a 20 baht “cross province” charge.

    TBH I can’t see much point in this as most 7-11’s have ATM’s, but at 15 baht a time I suppose it’ll all add up for 7-11.

  9. Avatar

    Ian

    Wednesday, March 17, 2021 at 3:19 am

    Gosport cash is king in thailand, and yes its 200 to 300 baht for foriegners using atms with thier country’s credit cards and some banks also charge you back in UK as well so both scamming us lol

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Ann Carter is an award-winning journalist from the United States with over 12 years experience in print and broadcast news. Her work has been featured in America, China and Thailand as she has worked internationally at major news stations as a writer and producer. Carter graduated from the Walter Williams Missouri School of Journalism in the USA.

Technology

First Thai-made satellite to launch in 2023

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First Thai-made satellite to launch in 2023 | Thaiger
PHOTO: "Wait, you're telling me Koh Phangan has a 'Full ME Party'?!"

The first Thai-manufactured satellite, named the TSC-Pathfinder and designed to survey Earth’s natural resources, is planned to be launched in 2023. The launch is part of a schedule by the Ministry of Higher Education Science Research and Innovation’s developing space technology programme to launch 5 small satellites between 2021 and 2027. Space engineering development and application, research and development, and educational and industrial support will be the focus of their new programme. The TSC Pathfinder’s project manager reported that a minimum of 15 staff members on the project would be trained in China within the next year about the construction and engineering of satellites.

While Thailand did officially launch a satellite last year, it was manufactured in the Netherlands and launched in French Guiana. The Thai-made satellite is the first thing in space made in Thailand, aside from some trees on the International Space Station.

It’s exciting to see Thailand enter the space race, although some people are critical, asking if the big price tag on a project like this will actually benefit Thailand and its citizens. Many people have posted publicly on social media pointing out that, while the government spends heavily on advanced space technology, many Thai people are struggling with poverty.

MHESI Minister Anek Laothamatas believes that developing space technology would definitely be beneficial for future investors because of the expansion of advanced technology into everyday life for so many people. He believes that while the launch of these satellites is just establishing of the basic infrastructure needed to develop the technology further, the field will actually create a lot of jobs and stimulate the economy in the long run.

“The space technology business will be able to create start-up businesses related to space technology and in doing so elevate the country’s economy.”

The MHESI have planned five satellite launches between now and 2027:

  • The TSC-Pathfinder, launching in 2023 to survey natural resources
  • The TSC-1, launching in 2025 to survey the Earth
  • The TSC-PFT1, launch date TBD to probe dual-system technology
  • The TSC-PFT2, launch date TBD to analyze a system of sending and receiving signals in a low-frequency-X band
  • The TSC-2, launching by 2027, to use the developments of the third and fourth satellites in order to reach the Moon’s orbit

SOURCE: Bangkok Post

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Expats

The challenges for the digital nomad in Thailand | VIDEO

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The challenges for the digital nomad in Thailand | VIDEO | Thaiger

Ah yes, the challenges of being a digital nomad in Thailand. What is a digital nomad? People who can do their job anywhere in the world with just a laptop, tablet and wi fi (preferably free wi fi). Thailand has the scenery, wi fi access, speed and lots and lots of coffee shops (with excellent coffee these days).

But there are also lots of challenges that make Thailand not quite the perfect haven for the digital nomad. Kay from Hey Big Mango checks out the challenges faced by digital nomads in today’s program.

Some more information about the Smart Visa and digital nomads HERE.

Here’s a link to more of Kay’s content.

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Technology

Personal Data Protection Act might be delayed to give businesses more time to prepare

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Personal Data Protection Act might be delayed to give businesses more time to prepare | Thaiger
Photo by Tech Daily for Unsplash

The launch of Thailand’s Personal Data Protection Act, set to go into effect in June, might be delayed to allow small and medium-sized more time to prepare for the new regulations.

The new Digital Economy and Society Minister Chaiwut Thanakhamanusorn says that if the public has negative views about the new legislation, then the ministry might discuss whether to defer or amend the act.

Rumours that the PDPA will be postponed until the end of this year seen more likely as members of the Personal Data Protection Committee have yet to be appointed. This committee is necessary to approve any follow-up legislation.

Several associations are requesting the deferral and enforcement, saying that they lack the readiness to comply with the new regulations, in particular associations in the travel and automotive fields. They fear that nefarious people may exploit loopholes in the law to abuse businesses to benefit themselves personally. The legitimate fear of abuse have led to the drafting of supplemental legislation addressing complaints, consent procedures, and expert panels, but will require approval by the short-staffed committee.

The Personal Data Protection Act was originally published in May of 2019 but immediately deferred for one year allowing a grace period for members to comply. In May 2020 the cabinet agreed to another postponement in enforcing most of the sections of the PDPA to give the public and private enterprises affected time to comply and rework internally, and also to reduce costs during the Covid-19 pandemic.

Meanwhile, the Digital Economy and Society Minister has pledged to assign priority to 5G, a national digital ID, fake news suppression, and a government cloud. They have set goals to address a 5-point plan that they will focus on:

  • First, the ministry will concentrate on helping people gain access to innovation and technology.
  • Second, they will strive to manifest an ecosystem that will be more amiable to a digital economy in the future.
  • Third, the ministry will pursue digital infrastructure development including the 5G rollout and “smart cities”. 500 million baht has already been earmarked by the government for 5G projects in various fields including education, farming, and manufacturing.
  • Fourth, the ministry plans to build people’s trust in the digital ecosystem especially for cybersecurity and electronic transactions. They aim to develop a legal framework and how to enforce it.
  • Finally, plans are underway to protect people from abuse on the internet especially on social media.

SOURCE: Bangkok Post

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