aeon bank (bankrupt?)

[kevin612]

Anyone recently know what happen to aeon bank? each bank branch has only one atm (suppose have 2), atm in big C is removed. Then today and yesterday, atm is down. are they out of business?

[SteveBull]

ATM's fail all the time for many different reasons, and most banks have separate companies run their ATM networks anyway.

 

It could easily be someone has jammed it in order to fleece the unsuspecting public and the ATM has detected it. They will also shut themselves down if it detects it has been tampered with.

 

Have you tried calling them ?

[calbts2]

I don't know if they are out of business but they have recently been removing their just about all of their ATMS from central Bangkok. For example they used to have ATMs at Terminal 21, Tesco at Fortune Town, Big C Ratchada, and Central Praham 9 - All are gone now. I only now know of one AEON ATM not far from where I live - Big C Rama 4 - and who knows how long that will last.

 

 

Edited August 21, 2022 by calbts2
spell

[DrJoy]

48 minutes ago, kevin612 said:

. are they out of business

AEON Financial Service Co. Ltd., (AEON Financial Service), the major shareholder of the Company, was listed in the 1st section on the Tokyo Stock Exchange, which is a holding company.

 

Currently provides financial services including credit cards, personal loans and other services.

 

On April 1, 2019, AEON Financial Service has completed its group restructuring in order to allow its financial service business to be carried out in full scale and with greater efficiency.

 

AEON Financial Service has also expanded its business to other Asia countries including Hong Kong, Thailand, Malaysia, Philippines, Indonesia, China, Vietnam, Cambodia, India, Laos and Myanmar.

 

As of February 28, 2022, the Company has active customers more than 2 million IDs per month. Meanwhile, the number of issued cards was 9.7 million including 3.29 million credit cards and 6.46 million member cards.

 

 

https://www.aeon.co.th/aeon/aeon-info/company-profile.html

[The Hammer2021]

5 minutes ago, DrJoy said:

AEON Financial Service Co. Ltd., (AEON Financial Service), the major shareholder of the Company, was listed in the 1st section on the Tokyo Stock Exchange, which is a holding company.

 

Currently provides financial services including credit cards, personal loans and other services.

 

On April 1, 2019, AEON Financial Service has completed its group restructuring in order to allow its financial service business to be carried out in full scale and with greater efficiency.

 

AEON Financial Service has also expanded its business to other Asia countries including Hong Kong, Thailand, Malaysia, Philippines, Indonesia, China, Vietnam, Cambodia, India, Laos and Myanmar.

 

As of February 28, 2022, the Company has active customers more than 2 million IDs per month. Meanwhile, the number of issued cards was 9.7 million including 3.29 million credit cards and 6.46 million member cards.

 

 

https://www.aeon.co.th/aeon/aeon-info/company-profile.html

Blimey! Great info. Are they  going bust then?

[DrJoy]

1 minute ago, The Hammer2021 said:

Blimey! Great info. Are they  going bust then?

No, they are owned by a Japanese group, they have a strong financial backing.

[The Hammer2021]

Just now, DrJoy said:

No, they are owned by a Japanese group, they have a strong financial backing.

Thank you

[CharlieH]

With the ever increasing use of digital banking and payment systems, many banks havd been reducing ATM's  and branches, its not unique to Aeon.

[PeachCH]

For once a good, helpful discussion about a topic, that is not repeated weeks after weeks. 

[thailand49]

It is as CharlieH,  states. 

I've use Aeon for years mainly the 150 charge. 

Aeon is mainly a loan company I once wanted to open a savings they kind of laugh at me. 

I believe their machine are more design for lenders to make payments reason first of month ATM lines. 

Today with online majority of cash is being taken by foreign cards?  With one machine only the cash is gone sooner when you put in your card and it gets kick back or out of order machine is empty. 

 

[userabcd]

How does one equate atm machines and financial troubles for a bank.

 

Thats a huge stretch of the imagination.

[kingstonkid]

11 hours ago, The Hammer2021 said:

Blimey! Great info. Are they  going bust then?

Probably not going bust just realizing they are not making money with ATM 

[AlQaholic]

11 hours ago, DrJoy said:

AEON Financial Service Co. Ltd., (AEON Financial Service), the major shareholder of the Company, was listed in the 1st section on the Tokyo Stock Exchange, which is a holding company.

 

Currently provides financial services including credit cards, personal loans and other services.

 

On April 1, 2019, AEON Financial Service has completed its group restructuring in order to allow its financial service business to be carried out in full scale and with greater efficiency.

 

AEON Financial Service has also expanded its business to other Asia countries including Hong Kong, Thailand, Malaysia, Philippines, Indonesia, China, Vietnam, Cambodia, India, Laos and Myanmar.

 

As of February 28, 2022, the Company has active customers more than 2 million IDs per month. Meanwhile, the number of issued cards was 9.7 million including 3.29 million credit cards and 6.46 million member cards.

 

 

https://www.aeon.co.th/aeon/aeon-info/company-profile.html

So, they are going bankrupt then, right?

[scorecard]

12 hours ago, calbts2 said:

I don't know if they are out of business but they have recently been removing their just about all of their ATMS from central Bangkok. For example they used to have ATMs at Terminal 21, Tesco at Fortune Town, Big C Ratchada, and Central Praham 9 - All are gone now. I only now know of one AEON ATM not far from where I live - Big C Rama 4 - and who knows how long that will last.

 

 

Keep in mind that banks in Thailand and globally are reducing the total number of ATMs as cash is used less and less.

 

One larger shopping centre just Nth of Sydney now has a total of 2 ATMs, a couple of years ago maybe 20 ATMs and my bank in Aust. told me (as I did a transaction by phone) that in some locations the remaining ATMs are maintained by a fund which all banks contribute to. The bank lady was able to look at some data and then she commented 'that shopping centre will probably go down to 1 ATM within a few months and zero within another 12 months'.

Edited August 22, 2022 by scorecard

[KhunBENQ]

Sign of the times.

Not bankrupt but all banks have to slim/downsize branches and all kind of cash transactions.

Look at Kasikorn in Pattaya. At least four branches closed over the years.

In our area massive reduction of staff and ATMs in the district.

A former bank clerk now runs a mom&pop shop on our corner.

Edited August 22, 2022 by KhunBENQ

[KhunBENQ]

And what's the attraction of AEON nowadays?

Yes "only" 150 Baht fee but limited to 20000 Baht. Other ATMs 30000 or even more(?) at a fee of 220.

Do the math.

[calbts2]

2 hours ago, KhunBENQ said:

And what's the attraction of AEON nowadays?

Yes "only" 150 Baht fee but limited to 20000 Baht. Other ATMs 30000 or even more(?) at a fee of 220.

Do the math.

For me and many expats living here for a long time it is more out of habit to use AEON atms as they not long ago were fee free vs the Thai Banksters ATM cartel. And 220 baht just to withdraw your own money is a total ripoff no matter how you look at it.

Actually though now Wise is becoming a real competitive option to get cash from overseas as lately my transfers have arrived in minutes - even on weekends. And the exchange rate is usually better than the daily VISA/Mastercard rate.

Edited August 22, 2022 by calbts2
spell

[Iron Tongue]

They could be simply changing vendors or upgrading ATMs.  Can't rip everything out at once, but have to do a rolling phase-out/phase-in.

If you're curious, why not just go in and ask?

 

[DezLez]

8 hours ago, PeachCH said:

For once a good, helpful discussion about a topic, that is not repeated weeks after weeks. 

How can it have been "repeated" yet when it was only running for 11 hors when you posted and less than 24hrs now?