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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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3 hours ago, huangnon said:

ou don't have money with a digital system. You have 'food tokens' that can be taken away at the push of a button. Your spending on eg; meat, air fares, travel etc can also be calculated and controlled using a 'carbon credit' system, that is already heavily-invested in by the usual billionaire elites. (Mastercard has started doing this already).

Keep cash alive for as long as possible.

 

Exactly like in the book This Perfect Day.  Yikes.  And if you want to be creative and buy items to do some sketching and you aren't deemed an artist by the committee,  the scanner won't let you buy them.   Cash is King!

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9 hours ago, daveAustin said:

The current system with people fiddling around

I agree.

 

I usually end up behind someone at the store that does cashless to the "Thai" way.  Usually a 10 minute holdup pushing buttons then showing the cashier, then more button pushing. 

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2 hours ago, sambum said:

Moral of the story - "Once you hand cash over to a Thai, you ain't ever gonna get it back - no matter what!"

This was quite shocking when I first arrived here to live.  One example, I was returning a bike lock that broke the first time I used it to lock my fence while I was away.  The customer service manager at H----o called me a liar and accused me of breaking the lock because it was only supposed to be used on a bike, not a fence. .  WHAT.  I ended up getting my money back, only after I took pictures of her and sent it to home office.   It is almost impossible to return items there, you get the 3rd degree everytime, like it is their personal money.  Maybe they get docked pay for return items???

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QR code payments are great - as long as they work reliably. My K-PLUS app was somewhat unstable for about a week last month; luckily I also have Bangkok Bank's app installed that I could use instead as a fallback. Otherwise, what then? I've never had a similar problem with good old cash.

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1 hour ago, wwest5829 said:

Not my experience in Japan, starting in 1983 when my stay there with the University of Washington included trips to the mountains and stays at Buddhist lodgings, and trips to the pearl farming coasts. Had  I the money, I might well have retired in Japan although not in the larger cities as I favor the mountains.

 

They wear masks and sanitize everything since years, even before COVID already. They are absolute hysterically and collectively are destroying their immune system.

It is a sterile country with literally robots roaming and standing around, vending machines everywhere to even more prevent direct human interaction and weird inhumane capsule hotels and more stuff like that.

Processed food and MSG is abundant as well.

 

Japan has the highest pesticide usage per hectare.

Virtual/Digital girlfriends and weird stuff like that is very common as well.

 

Really, how anyone can deny the robotic lifestyle of Japanese people is beyond my understanding. It is like claiming the sun would not heat you up, or that water wouldn't be wet.

Edited by FarAway
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2 hours ago, Orinoco said:

Yes, looks like some people are happy reporting, who they are, where they are and what they are doing, to governments. that's what this is truly about.

 

What do they care I just bought a Magnum at my local 7-11

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11 hours ago, webfact said:

The central bank plans to have 42% of all payments in the kingdom made by digital means by the end of 2024 with each person making 800 such payments in the course of a year.

I don't mind paying for a purchase of as little as THB 20.00 in a shop with a debit card and therefore should have no problem making 42% of all my payments electronically, but I don't think that I will be making as many 800 electronic payments per year.

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26 minutes ago, FarAway said:

 

They wear masks and sanitize everything since years, even before COVID already. They are absolute hysterically and collectively are destroying their immune system.

It is a sterile country with literally robots roaming and standing around, vending machines everywhere to even more prevent direct human interaction and weird inhumane capsule hotels and more stuff like that.

Processed food and MSG is abundant as well.

 

Japan has the highest pesticide usage per hectare.

Virtual/Digital girlfriends and weird stuff like that is very common as well.

 

Really, how anyone can deny the robotic lifestyle of Japanese people is beyond my understanding. It is like claiming the sun would not heat you up, or that water wouldn't be wet.

Very funny but only due to my having come across accusations that Americans are being overly fastidious in washing hands and their body excessively destroying their natural immune system abilities. I am wondering how the SCOTUS will rule on those increasing number of robots being "citizens", after all, they have already ruled that corporations are "Citizens" (Citizens United Decision). "I Robot", "Surrogates", "Ex Machina" ... it is coming whether we agree with the wisdom of such or not.

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7 hours ago, Expat68 said:

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

I've never been in a pub in the uk or infact any shop that turns down cash! My fishmonger still hasn't got a card reader and only takes cash. What I have noticed is when I use cash I spend less! I have had a situation buying a car from a dealer when they would only except £6,000 cash and the rest had to be bank transfer.... I've also had situations where paying thousands in cash at a time into my account without a question but taking out £1,000 was like the Spanish Inquisition!!!. I believe we should go back to Gold backed currency. This banking scam of for every pound they have they can lend you 10..... has to end!!!

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6 hours ago, ThailandRyan said:

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.

I can't remember the last time I wrote a cheque. About 20 years ago I guess.

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4 hours ago, Lung Khao said:

The cashless system is already working perfectly in Thailand, you can pay every vendor by using QR code. But do you have any idea how foreign tourists can pay with this system in Thailand, as it works only with Thai bank account numbers? No money no honey? ????

That is the downside of the QR arrangement. When I was  in China a couple of years ago everybody was paying by QR code and life can be a bit difficult for tourists. Many services in public areas are unattended and cannot be used by the average touist. We were quite lucky in that my niece was at uni there and she paid for most things and I just gave her cash to  pay into her account.

In the UK contactless is the predominent method, with the higher limits most are using that for shopping and in pubs and restaurants. Cash is becoming a rarity.

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4 hours ago, Lung Khao said:

The cashless system is already working perfectly in Thailand, you can pay every vendor by using QR code. But do you have any idea how foreign tourists can pay with this system in Thailand, as it works only with Thai bank account numbers? No money no honey? ????

It might work where you are but not in rural Thailand.

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10 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 

It is a standard procedure for all ASEAN STATES retail shops etc.

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8 hours ago, terryofcrete said:

Hard to pay your credit card in lots of places and some try to charge extra to cover the fees they must pay. 
that has to change if they are serious. 

Have I got this wrong but is their another type of card you pay for goods?

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