More Cash For Atm Withdrawals

[george]

More cash for ATM withdrawals

BANGKOK: -- Despite the current economic slow-down, banks plan to reserve 20-30 per cent more cash for customers to withdraw from ATMs nationwide during the Songkran festival.

Bangkok Bank's cash reserve for the long holiday is set at Bt18 billion, an increase of 20 per cent above normal. The bank usually puts a total of Bt15 billion in cash into automatic teller machines (ATM), said executive vice president Chartchai Srirussamee.

The bank has a total of 3,000 ATMs, with normal reserves of Bt5 million each.

Chartchai said that although the country's economy is in a downward trend, the bank believes depositors will still need cash for spending during the long holiday.

Siam Commercial Bank has set cash reserves for this year's Songkran holidays at Bt18.50 billion, of which Bt10 billion would be reserved at its branches, divided equally between Bangkok and provincial outlets. The remaining Bt8.5 billion will be reserved in the bank's ATMs: Bt4.5 billion for the Bangkok area and the remainder for upcountry.

Last year, the country's third-largest bank reserved Bt15 billion in cash for the festival period. The additional cash reserve for this year is due to an increase in the number of branches and ATMs.

Kasikornbank said it will reserve Bt17.3 billion in cash for customers to withdraw during Songkran in its 3,229 ATMs nationwide, almost double last year's reserve of Bt8.7 billion.

-- The Nation 2007-04-10

[soundman]

I think the banks are gearing up for the sudden un-expected influx off at least 500,000 extra tourists that the TAT is hoping are coming for Songkran, so their projections for visitor arrivals will meet budget.

Soundman.