Bank of Thailand moves against cash and the US dollar in a plan to reduce cash in half by 2026

[rwill]

Cash still works wihen the internet or power goes down.

[internationalism]

Good move for malaysian traders, coming to thailand in millions for weekend shopping

[ChrisKC]

So, will half the ATM's disappear? 

[Expat68]

6 minutes ago, Orinoco said:

So all shops are digital payments only ?

in your town ?

Don't know, have not been back for 12 years, he just told me about our boozer

[tigerfeet]

3 hours ago, Mac Mickmanus said:

What is the most amount of times that the cashier has counted your change out before giving it to you ?

   Mine is 5 

Counted my change out five times before handing it over 

That's because if there's any shortfall it comes out of their wage .

 

3 hours ago, Mac Mickmanus said:

What is the most amount of times that the cashier has counted your change out before giving it to you ?

   Mine is 5 

Counted my change out five times before handing it over 

 

[Orinoco]

6 minutes ago, ChrisKC said:

So, will half the ATM's disappear? 

Maybe.

But an ATM will always be available down Soi 6.

 

 

[DFPhuket]

While QR payment has rapidly gained in popularity, you must have a Thai bank account for it to work. It is a failure in tourist locations like Phuket where only the locals can use this method. 

[VinnieK]

1 hour ago, Jerno said:

Ya right.  Thailand cashless society.  How will all the brown envelopes be converted to cashless that won't be trackable. And how did they come up with 800 transactions per person?  More stupid ideas with not a chance of happening.

It will happen alright.

..but not here. 

A blessing imo.

[BritManToo]

51 minutes ago, 10baht said:

The USA was trying to do this in the 70's. that's 50 years ago. Some progress has been made, but my wallet has both cash and credit cards in it. And every country  ???? I visit has an exchange kiosk which only takes CASH!!!!!????

I pay for almost everything using my phone now, very convenient ......... let the Luddites complain.

Even the local market stalls and street vendors have a QR code on display.

[jacko45k]

23 minutes ago, Expat68 said:

My mate in UK (62 year old) has to pay for his beer cashless with his card

Might stop the Irish bar staff from trying to short-change me in Wetherspoons!

[Surasak]

49 minutes ago, Expat68 said:

Unfortunately this is the way the world is going, us oldies but goldies just have to accept it

You speak for yourself. Just because I'm in my eighth decade, doesn't mean I'm old. The cheek????

[sezze]

Cashless won't happen anytime soon . Black market and prostitution will demand cash . This is not only for Thailand , but also valid for the rest of the world . It has got nothing to do with the value of a coin. How many digitals are around is just the same as how many banknotes are around. There is another difficulty, which systems are applied?

BTW i always having problems getting small cash notes . This does not apply in tourist places but very well within Thailand , Not many can change the 1000 baht notes .

[tandor]

21 minutes ago, Orinoco said:

Could be interesting, where to swipe the card. 

glass beads, mirrors, wobbly-head puppies will make a comeback.

[ThailandRyan]

3 hours ago, Mac Mickmanus said:

What is the most amount of times that the cashier has counted your change out before giving it to you ?

   Mine is 5 

Counted my change out five times before handing it over 

You do understand that if the till is short then they must make up the difference themselves right?. Gave a lady cashier a purple, yes a 500 thb bill for a payment of 499 Thb, she then handed me back the purple and 1 Baht in change.  I stood there with the note in one hand and the baht in the other and in Thai asked her if she had given me the right change back.  I told her she had given me 500 thb too much.  She shook her head and when I asked her again she shook her head no. The manager came over and asked what was wrong. I again explained it to him.  He then went to the till and put in a code which would tell him the amount the machine should have in it. Then he proceeded to count the till out.  He then disappeared and came back with his cell phone and showed me the video of the transaction from the system, showed the cashier and then asked me to keep the purple 500 Thb as well as giving him the 1 baht back.  He then canceled the transaction and then had the cashier do it again. This time the bill was 499 Thb again and I handed the cashier the purple 500 Thb, and she placed it in the till and then handed me 1 baht back after ringing in the payment, which she had not done before.  I felt bad for the people behind me as this was a cash transaction and shoukd have been quick......I wonder how she became a cashier....sigh. This was at a well known home store BTW.

[Mike Teavee]

9 minutes ago, sezze said:

Cashless won't happen anytime soon . Black market and prostitution will demand cash . This is not only for Thailand , but also valid for the rest of the world . It has got nothing to do with the value of a coin. How many digitals are around is just the same as how many banknotes are around. There is another difficulty, which systems are applied?

BTW i always having problems getting small cash notes . This does not apply in tourist places but very well within Thailand , Not many can change the 1000 baht notes .

I think you'd be surprised at how many Thais use QR Code payments, E.g. When the government was running the 50:50 promotions even the stalls selling 10-20b BBQ sticks were accepting it & most Thais were paying that way as it's the only way they can get the discount.

 

I've also read many reports of guys either paying the girl via QR Code to their Bank or being asked to do so. 

 

 

As an aside, I went into the Starbucks at the office block next to Lumpini MRT Station a few weeks back & they will only accept electronic payment.  

 

 

[bikerlou47]

21 minutes ago, ChrisKC said:

So, will half the ATM's disappear? 

Where I live more than half of the ATM's are already gone!

[Orinoco]

12 minutes ago, BritManToo said:

I pay for almost everything using my phone now, very convenient ......... let the Luddites complain.

Even the local market stalls and street vendors have a QR code on display.

Come on, you know it's not about being a Luddite.

It's all about control.

[ThailandRyan]

8 minutes ago, sezze said:

Cashless won't happen anytime soon . Black market and prostitution will demand cash . This is not only for Thailand , but also valid for the rest of the world . It has got nothing to do with the value of a coin. How many digitals are around is just the same as how many banknotes are around. There is another difficulty, which systems are applied?

BTW i always having problems getting small cash notes . This does not apply in tourist places but very well within Thailand , Not many can change the 1000 baht notes .

I still use checks for payment when in the US.  My GF asked me how it could be used as real money and not seen as fake.  I then explained it to her and she just stared at my check book. She had never seen a check before here in Thailand, but on the trip to the US saw folks using checks in many stores. True story.

[HappyExpat57]

Next step will be mandatory chips inserted under the skin. Already being done in small communities in the US.

[ThailandRyan]

12 minutes ago, Mike Teavee said:

I think you'd be surprised at how many Thais use QR Code payments, E.g. When the government was running the 50:50 promotions even the stalls selling 10-20b BBQ sticks were accepting it & most Thais were paying that way as it's the only way they can get the discount.

 

I've also read many reports of guys either paying the girl via QR Code to their Bank or being asked to do so. 

 

 

As an aside, I went into the Starbucks at the office block next to Lumpini MRT Station a few weeks back & they will only accept electronic payment.  

 

 

Yes the Q house Starbucks is one of many that only accept either a card payment or cashless. Makro on Rama 3 has gone to most registers being cashless as well. Yet here in Hua Hin, I pay everything by cash or by bank transfer/prompt pay.

[jacko45k]

11 minutes ago, ThailandRyan said:

I wonder how she became a cashier....sigh. This was at a well known home store BTW.

Ever had them hand back the loose coins you give them to make your change easier...? ie with a tab of 402 baht, I give 502 and the coins are returned with a confused look. It seems to happen less of late, maybe as I stopped using Tesco/Lotus!

[LivingNThailand]

1 hour ago, 10baht said:

The USA was trying to do this in the 70's. that's 50 years ago.

When I was in elementary school in the USA in the 60s they told us we would be converting to the metric system soon.????  Still waiting.????

[Orinoco]

43 minutes ago, rwill said:

Cash still works wihen the internet or power goes down.

And thank god for battery operated calculators.   

[Ginner]

4 hours ago, daveAustin said:

If you want to go cashless, PLEASE introduce Applepay and similar at stores in Thailand. The current system with people fiddling around, entering numbers etc etc ad nauseam is a joke. Along with security & convenience with digital payments should be time saved. Getting stuck behind someone for 5 minutes trying in vain to pay for their groceries is absolutely baffling. 

Plus the charges you will incur for the privilege of using it. Yes. fed up of standing behind people paying for a B50 coffee and taking 5 to 10 mins to get the numbers right.  

[Peterphuket]

Ordered by WEF, with Klaus, I think so.

 

All over the world you notice that 'they' want more and more control over the individual, it started in China.

[LivingNThailand]

19 minutes ago, HappyExpat57 said:

Next step will be mandatory chips inserted under the skin. Already being done in small communities in the US.

Have you read the futuristic  novel "This Perfect Day" by Ira Levin?  That is exactly what they did.  When I first saw barcodes on products I thought.... it's starting.

[Peterphuket]

In Europe, they working already to introduce the digital Euro.

[jacko45k]

8 minutes ago, LivingNThailand said:

Have you read the futuristic  novel "This Perfect Day" by Ira Levin?  That is exactly what they did.  When I first saw barcodes on products I thought.... it's starting.

Now you understand what a 'novel ' is don't you?

[Purdey]

I will use credit cards but don't like the idea of leaving myself more open to hackers with a Thai made electronic transfer app. It just feels like there is going to be a problem. 

[LivingNThailand]

1 minute ago, jacko45k said:

Now you understand what a 'novel ' is don't you?

a fictitious prose narrative of book length, typically representing character and action with some degree of realism.