Bank of Thailand: Bounced checks rise to highest in 20 months

[webfact]

Bounced checks rise to highest in 20 months



BANGKOK: -- The Bank of Thailand said today that the number of bounced checks involving over 12.3 billion baht rose to over 76,600 checks, the highest in 20 months.

The central bank said that by January this year there are altogether 6.38 million checks in the banking system, up 12.16% as compared with the same period last year with total value of 3.2 trillion baht, or a decline of 98.4 billion baht.

But it said among the total checks in the system, there are 76,600 bounced checks, 15.06% or 10,000 checks higher than the same period .

The bounced checks worth altogether 12.3 billion baht, 20.35% or 2.07 billion baht higher than the same period last year, the highest in the past 20 months.

It said more than half or 40,800 bounced checks were issued by issuers in Bangkok and adjacent provinces with total value of 8.45 billion baht.

These bounced checks were expected to be issued by small and medium sized enterprises (SMEs) which are running short of liquidity as the result of falling sales, cautious spending by households and stricter loan extension by commercial banks.

Source: http://englishnews.thaipbs.or.th/bounced-checks-rise-highest-20-months/


-- Thai PBS 2014-02-24

[canopus1969]

Innocent - mine is in the post

[Basil B]

That does not count the payment cheques to the rice farmers, as Yingluck was nether around to sign them, they nether got sent.

[winstonc]

That does not count the payment cheques to the rice farmers, as Yingluck was nether around to sign them, they nether got sent.

yeah but didnt she say they were getting it all paid this week....i thought check books had died out

[worgeordie]

That must include the Government ones,the rest will be from the farmers

thinking they have money in the bank that the Government promised them.

regards Worgeordie

[diehard60]

Thank you suthep! You are doing a fantastic job. Keep up the good work?

[diehard60]

That must include the Government ones,the rest will be from the farmers

thinking they have money in the bank that the Government promised them.

regards Worgeordie

The small farmers can not have checking accounts, Bangkok Bank does not allow them to have it.

[Thai at Heart]

76,000 in 6,300,000 is 15%????

[Mosha]

76,000 in 6,300,000 is 15%????

I think they are saying yjthe number of bounced cheques has risen by 15%

[Suriya4]

"The central bank said that by January this year there are altogether 6.38 million checks in the banking system, up 12.16% as compared with the same period last year with total value of 3.2 trillion baht, or a decline of 98.4 billion baht."

I wonder how many of them were issued by Suthep and his gang on the stage.

[belg]

the start of inflation and signs of a failing state

[Robby nz]

Isnt it wonderful 2 out of 10 posts by red nutters blaming Suthep for bounced checks of all things.

Obviously didn't read the OP just the headline.

[Piichai]

If Yingluck doesn't have to pay her bills, why should anyone else?

[3NUMBAS]

must be the worlds biggest bouncers of cheques .

[noitom]

The check is in the mail in Thailand. Creditors need not worry - Thais say the check is in the mail.

[BillyBobThai]

Thailand, the new HUB of bounced checks.

[NeilSA1]

Cheques are on their way out, thank goodness.

[EyesWideOpen]

Isnt it wonderful 2 out of 10 posts by red nutters blaming Suthep for bounced checks of all things.

Obviously didn't read the OP just the headline.

The guys punching away on keyboards in the Red Defense Boiler room have to post something to justify their salary...... Either that or there are some some seriously misguided farangs that post here.

[retsdon]

When you live beyond your means, eventually you'll realize that the sound you've been struggling to identify is the beating of the chicken's wings as they near the roost. Since Bernake flooded the world with easy money in 2008/9, an awful lot of people in Thailand, mesmerized by all the cheap credit, have been spending way outside their income bracket. Keep it up long enough and the wheels are bound to come off. Now that the party is winding down, expect the Thai economy to roll over.

[MrY]

160,000 baht a piece. I wonder if my rent cheque bounced this month...?

[Jonmarleesco]

I wonder how many of these are down to banks' peculiar service logic, such as taking out their annual fee then bouncing a large cheque because, following the deduction of the fee, the account will move into negative territory. I've known that happen, and more than once.