Banking coming next month to every 7-eleven

By Jintamas Saksornchai, Staff Reporter

 

A December 2017 file photo of a 7-Eleven store in Nonthaburi province

 

BANGKOK — Twenty-million bank customers will be able to make basic transactions at all 7-Eleven stores when a pilot banking program launches next month.

 

Government Savings Bank customers will be the first able to deposit and withdraw funds at more than 13,000 convenience stores across country starting Oct. 31, the bank announced Tuesday.

 

Full Story: http://www.khaosodenglish.com/featured/2018/09/18/banking-coming-next-month-to-every-7-eleven/

 

-- © Copyright Khaosod English 2018-9-18

like queues at most 7's aren't slow enough as it is 

Edited September 18, 20187 yr by Happy enough

Agreed Happy Enough. Many people already holding up the queues paying water, electric, ToT, AIS and whatever. I sorry sir, please wait 10 minutes while I process this international bank transfer...last time I looked there was no shortage of banks in most areas.

what they really need to do is have one line for all the services other than buying things from the shop itself, that way they only have to open it when someone wants to pay an account, do banking etc so that customers are not being held up when they just want to pay for store purchases

I 'm the stupid idiot who always picks the wrong line where somebody is paying bills for 15 minutes...

 

I wished the 711 would have atm's without the 220 baht extra fee for foreigners only.

4 hours ago, Catkiwi said:

Agreed Happy Enough. Many people already holding up the queues paying water, electric, ToT, AIS and whatever. I sorry sir, please wait 10 minutes while I process this international bank transfer...last time I looked there was no shortage of banks in most areas.

Bank are very few and far between. I cant think of any in Pratumnak. I think the idea of doing banking at7/11s is great.

33 minutes ago, Thian said:

I 'm the stupid idiot who always picks the wrong line where somebody is paying bills for 15 minutes...

 

I wished the 711 would have atm's without the 220 baht extra fee for foreigners only.

Which ATMs dont have foreign transaction fees?

1 hour ago, seajae said:

what they really need to do is have one line for all the services other than buying things from the shop itself, that way they only have to open it when someone wants to pay an account, do banking etc so that customers are not being held up when they just want to pay for store purchases

Why should purchasers buying goods rather than services feel their needs are somehow  more valid? This de-centralisation of bank and utility payments is a blessing and a great step forward.

I have mixed feelings about this. It will be annoying to have to wait longer at the queues sometimes, but as The Manic had written above, the decentralisation of the banking stuff is good.

 

Oh, and by the way, if only the plan to sell draught beer at 7-Elevens wasn't shelved ; it would have been nice to get draught beer from them ?

 

It's only one bank initially (GSB), a maximum of 5,000B per withdrawal, a 15B fee, AND you need to use a mobile app... I don't think many will be interested in this in big cities where there are ATMs at every corner. It might be good in the countryside though.

44 minutes ago, arithai12 said:

It's only one bank initially (GSB), a maximum of 5,000B per withdrawal, a 15B fee, AND you need to use a mobile app... I don't think many will be interested in this in big cities where there are ATMs at every corner. It might be good in the countryside though.

 

 

Not on quite sure about the logic on that one.

 

I have never seem a 7 without an ATM........even in rural areas..

 

 

..... and in rural areas I have seen many ATMs without a 7 attached....

Terrible news, just waiting in the ATM queue when in the beginning of the month the locals try to transfer money 10 times to their friends they owe money too .   

 

So if you just want to buy a bottle of water it could take forever.

 

 

 

7/11soon will be able to issue passports and anything else in a few years.just what you need when u go and get  a ham cheese toastie

3 hours ago, balo said:

Terrible news, just waiting in the ATM queue when in the beginning of the month the locals try to transfer money 10 times to their friends they owe money too .   

 

So if you just want to buy a bottle of water it could take forever.

 

 

 

There's also the 108 shop, if that one happens to be much faster for buying drinks or cigarettes  i'll go there from now on.

10 minutes ago, catman20 said:

yes also if you've got a thai in front of you using a ATM machine you may as well give up and try to find another ATM as their there for ever, its painful to watch them trying to work it out and you can hear the cogs turning in their head. 

At the end of the month in BKK there are queue's at EVERY atm for about 30-40 people...it's terrible...

Reported post removed.

6 hours ago, The manic said:

Why should purchasers buying goods rather than services feel their needs are somehow  more valid? This de-centralisation of bank and utility payments is a blessing and a great step forward.

Unfortunately it has very little to do with providing a better service to the nation.   Look at which family own all the 7/11s,  how they are one of the wealthiest and whom they support, and then you may understand better that they not be doing this as a service to the nation,  rather then enlarging the trough on the banking fees collected,  and hence it is more like "self service" rather than a public service in my opinion.  Guess the next "innovation" will be for GSB to have allow 7/11 to be the sole lessees within their  property portfolio. ( FYO GSB is a wholly owned bank of the Thai Ministry of Finance )

Well this should shorten the lines at the atms outside

Edited September 19, 20187 yr by akirasan

Not sure what is new, wife currently pays her GSB mortgage at 7/11 already.

This will work in rural area's. Those in the city have numerous choices.

 

First year fees for those 7 to 20 years have been waived. What 7 year old has bank/ATM cards. My 12 and 14 YO kids certainly do not.

 

The 15B per transaction is outrageous but inline with the greedy 7-11 policies.

Deposit and withdraw. There's machines for that everywhere, usually outside 711 (withdraw)

 I don't get it.

 

Is this mostly for ppl that want to deposit a bunch of small bills and coins because they run some type of mom/pop shop? Seems like the only valid reason for this. 

I'm waiting for the day that I can have my passport scanned at 7eleven for a 90 day report.

8 hours ago, seajae said:

what they really need to do is have one line for all the services other than buying things from the shop itself, that way they only have to open it when someone wants to pay an account, do banking etc so that customers are not being held up when they just want to pay for store purchases

An excellent idea, of course but we all know that the minute they open a dedicated 'queue' line - all the Thais would immediately jump in to be served. The assistant would probably not have the courage, nerve, personality or wherewithal to object - particularly if faced with the millions of,  "Do you know who I am?" brigade.

Yep,   more queueing  & waiting.

I 've already started doing snack purchases back at the mom&pop store around the corner.

7/11  has evolved into a non-convenience store franchise.

More huge banking profits coming for the Chinese -Thai family that owns 7/11.

Pay rise for staff??  Not a chance !

40 b an hour,,take it or go work in a Pattaya bar.

Edited September 19, 20187 yr by lanista

Brilliant idea, let's overload an already busy system with extra work that the people are not trained for.  Thereby increasing their personal risk levels by making them handle and secure more cash that will attract robbers who do not want to risk the stronger levels of security at banks.

What could possibly go wrong?

4 minutes ago, ramrod711 said:

I'm waiting for the day that I can have my passport scanned at 7eleven for a 90 day report.

When they do it had better work better than the current online 90 day reporting fiasco, well couldn't be much worse I suppose.

A simple armed robbery could happen there sometime .... 

11 hours ago, Catkiwi said:

.last time I looked there was no shortage of banks in most areas.

Actually banks have started to close, at a very fast pace (SCB 200 this year).  So the bank on every corner seems to be a thing of the past generation.  

7 hours ago, The manic said:

Bank are very few and far between. I cant think of any in Pratumnak. I think the idea of doing banking at7/11s is great.

It is a great idea ? 

Oh thank heaven for 7/11 

Just now, lopburi3 said:

Actually banks have started to close, at a very fast pace (SCB 200 this year).  So the bank on every corner seems to be a thing of the past generation.  

Hence the push to put some of the baking services into 7-11's.  That way the banks can make greater profits by transferring the work and the risk, and then cut the more expensive teller staff and some branch locations.  Standard banking economics.