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


webfact

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1 hour ago, Swampy999 said:

trying to recover money from the banks in the UK is relatively easy if your card has been cloned but here? Not the banks fault, you need to take the matter up with the atm manufacturer etc.

Not true. Once I had my Thai ATM\debit card used online in South America, a place I've never been to. Called the bank. Got the money back after a couple of weeks.

Another time I tried to withdraw cash in Indonesia. No cash came out but my account was charged. Called the bank a few days later, after coming. Got the money back a couple of weeks later.

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3 hours ago, Gilligan In Drag said:

Hopefully they will screw it up and it won't work or they will forget about it or something or we will have a nuclear holocaust which might be less painful than being on a social credit system which is probably where this is going. And forgive me my financial illiteracy but wouldn't having half the amount of cash in circulation  tend to increase its value rather than halve it?

Oh dear. The amount of currency in circulation stays the same. The amount in physical cash is reduced. Cash is only used at the retail level these days. Do keep up old boy. In Oz atm, haven't used cash in 3 months.

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Have you never waited in a supermarket queue whilst a woman searches for her purse in her handbag to pay but only when all the items have been through the checkout. And then to find she has separate purses for notes and coins and wants to tender the exact amount but can’t read the till and then has to search for her glasses in her handbag? Give me cashless every time 

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5 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. 

They call it progress, taking 10 or 20x longer to do what used be done in seconds.

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2 hours ago, sead said:

Finally. What Russia and China always wanted. As it is now all crude oil is bought from Baht to USD and then converted to euro. It's ridiculous and let's USA make money on purchased oil between 2 countries not affiliated with USA

China together with Russia will be so goooood master for all of us. Not. 

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2 hours ago, sead said:

Finally. What Russia and China always wanted. As it is now all crude oil is bought from Baht to USD and then converted to euro. It's ridiculous and let's USA make money on purchased oil between 2 countries not affiliated with USA

How so to Euro. Oil is valued in US dollars. That will not change you seem to think they are buying this oil with suitcases of Bhat and dollars

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14 minutes ago, Flink said:

To be fair, Thailand is well on it's way to being a cashless society. After all, half the population don't have a pot to p1$$ in already. And those with houses and crs don't have any cash because as soon as their "money" is electronically transferred to their account it's transferred out again to pay the house, car, credit card loans. Going cashless in a country where the average personal debt level is 89% of the GDP per capita just makes no sense.

Those loans would be a lot more expensive to service if the transactions had to be conducted in cash. Probably add another 1-2%  to the interest charged.

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7 hours ago, webfact said:

The Bank of Thailand is pushing forward with the agenda of making Thailand a cashless society as it plans to unveil a new PromptPay system to make it easier to make payments and transfer money from one party to another in Thailand.

How will they hide all the kick-backs

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5 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 

So would I if I had to take any mistakes out of my salary...

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11 minutes ago, Guderian said:

So in a typical Makro checkout queue, say 6 people of which 5 want to use cash and the other one to use their phone, the people with cash in their hands will now have to wait three times as long so that three times as many people can mess about with their telephones, forget which app they need to use, try to get the cheap camera on their free AIS phone to focus on the QR code, mess it up and start again, at least twice.

Yes, just like waiting behind a Thai person at the ATM.

Gave that up years back. just go find another one, that's free to use.

 

 

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