Bank closure for 5 consecutive days

[Jenjira]

I feel it's kind of strange that government would allow banks to be closed for 5 days straight. I am not saying bank workers doesn't deserve a holiday. but there could be ways of handling it without disrupting the financial services of a country.

what are your thoughts / opinions?

Edited December 30, 2014 by george
Title corrected

[Don Mega]

they are closed on public holidays and weekends. whats the problem with that ?

[bkkgooner]

I don't see any problem with it at all

What exactly is the matter?

[Tywais]

Historically the government did not allow banks to close for more than 4 days due to concerns of effect on economy and markets. This is the 1st time a 5 day bank holiday was approved that I know of. And it was BOT that approved it.

[Jenjira]

Tywais

,

thanks i also had some memory of a similar rule in the past, this why i was checking. thanks for your informative answer.

[Jenjira]

@others

there is no real issue, unless you were expecting an international wire-transfer.

[jacky54]

are they open tomorrow?

[dutchisaan]

I feel it's kind of strange that government would allow banks to be closed for 5 days straight. I am not saying bank workers doesn't deserve a holiday. but there could be ways of handling it without disrupting the financial services of a country.

what are your thoughts / opinions?

p.s i calculate wrong its 5 days :-)

And how much days are the banks closed in Europe?

Wake up and relax.

Sent from my iPad using Thaivisa Connect Thailand mobile app

[Tywais]

are they open tomorrow?

I wouldn't count on it. Normally for public (banking) holidays the main branches are closed but the satellite, that is mini branches like in shopping malls, usually are.

[scorecard]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Historically the government did not allow banks to close for more than 4 days due to concerns of effect on economy and markets. This is the 1st time a 5 day bank holiday was approved that I know of. And it was BOT that approved it.

What date is the first date of closure please?

31 Dec or 1 Jan?

[Tywais]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Historically the government did not allow banks to close for more than 4 days due to concerns of effect on economy and markets. This is the 1st time a 5 day bank holiday was approved that I know of. And it was BOT that approved it.

What date is the first date of closure please?

31 Dec or 1 Jan?

Wednesday 31 December

[AnotherOneAmerican]

Banks in shopping malls are always open.

[paddyjenkins]

I think banks should be open on Sunday nights in case I need to withdraw cash but have forgotten my ATM card and need the branch to be open, or if I need to ask one of the tellers a question about something

[Jip99]

they are closed on public holidays and weekends. whats the problem with that ?

The public holidays are too long!

You would not get a 5 day continuous shutdown in the UK for example

For most people it is not an issue as long as they don't need to receive funds before 5th January.

Servicing the ATMs is also a key factor but, like many expats, I have taken the precaution of withdrawing enough money to last the whole of January if necessary

[khunPer]

Banks in shopping malls are always open.

And ATMs, that's why we have plastic-cards...

[bill1369]

&lt;deleted&gt;? I get my salary directly deposited to BKK on 1st so figured 2nd is OK to receive. But the 5th? Just how am I supposed to buy my beer, sex & yaa baa for the weekend???

Seriously tho, what about all the Thais showing up to work on the 2nd, getting their paychecks but no where to cash, esp when most rental contracts only give a 5-day grace period before a late charge.

[seajae]

@others

there is no real issue, unless you were expecting an international wire-transfer.

I am , if it doesnt come through tomorrow I have to wait till next week

[Jip99]

I feel it's kind of strange that government would allow banks to be closed for 5 days straight. I am not saying bank workers doesn't deserve a holiday. but there could be ways of handling it without disrupting the financial services of a country.

what are your thoughts / opinions?

p.s i calculate wrong its 5 days :-)

And how much days are the banks closed in Europe?

Wake up and relax.

Sent from my iPad using Thaivisa Connect Thailand mobile app

1 day in the UK.

Now go back to sleep.

[cigar7]

In Canada, banks may only close for a maximum 3 consecutive days.

A lot can happen in 5 days, major unforeseen events can start that have significant financial consequences.

Edited December 30, 2014 by cigar7

[IMA_FARANG]

Not all banks will closed over the New Years holidays completely.

Some of the banks with branches in the large shopping malls will be open on the 2nd or 3rd oh January, mainly because they do business for money exchange for tourists that are shopping in the large shopping mall these branches are in.

Those are branches that are normally open every day, (including Saturdays and Sundays), for that same reason.

But, you really have to basically know which ones will be open and where they might be.

For example, Bangkok Bank will probably have their lobby branch in Central World shopping mall open on the 2nd of January, simply because that will be a big shopping day and the mall will be packed with shoppers.

I know your problem, I get a pension monthly, and it will be sent to my Bank on the 4th of January for credit to my account.

It is sent every month on the 4th of the month.

Bu I knew this ahead of time, and I made arrangements already for the problem.

New Years is a big holiday in Thailand, and you need to plan ahead if you expect to do any banking in that holiday period.

[NancyL]

Banks in shopping malls are always open.

I saw a sign in the Bangkok Bank Kad Suan Kaew branch -- which I believe is in your city of residence, that they will be closed for two days this holiday. They also close on July 1.

Edited December 30, 2014 by NancyL

[beechguy]

It ain't Canada or the UK, get over it.

[RobertHima]

In Hungary banks were closed for Christmas 24-28 December (5 consecutive days), and for new year 1-4 January (4 consecutive days). Bad timing of weekends, that's all.

[cassde]

I anticipated the bank closure and instead of transferring money from my UK account via BBL London Branch, I withdrew cash from each of two UK banks using ATM card for this holiday period. Advance planning is all that is needed.

[prakhonchai nick]

they are closed on public holidays and weekends. whats the problem with that ?

The public holidays are too long!

You would not get a 5 day continuous shutdown in the UK for example

For most people it is not an issue as long as they don't need to receive funds before 5th January.

Servicing the ATMs is also a key factor but, like many expats, I have taken the precaution of withdrawing enough money to last the whole of January if necessary

The way you spend money, there'll be none left for anyone else.

I understand that in Prakhonchai yesterday many ATM's were out of cash including 2 inside banks!!! And the closure had not even started then.

[Utley]

they are closed on public holidays and weekends. whats the problem with that ?

To a great extent bank closures bring commerce to a halt - which of course damages the economy. When banks are closed commercial transactions, especially international transactions, are put on hold or in the extreme - even cancelled.

[gandalf12]

In Canada, banks may only close for a maximum 3 consecutive days.

A lot can happen in 5 days, major unforeseen events can start that have significant financial consequences.

True but Canadian banks take a few days to wake up. They must be one of the least efficient entities in Canada

[Johnniey]

<deleted>? I get my salary directly deposited to BKK on 1st so figured 2nd is OK to receive. But the 5th? Just how am I supposed to buy my beer, sex & yaa baa for the weekend???

Seriously tho, what about all the Thais showing up to work on the 2nd, getting their paychecks but no where to cash, esp when most rental contracts only give a 5-day grace period before a late charge.

Thais get paid earlier in Dec along with their bonus.

[henry15]

Satelite branches are open, here in Muang thong thani all the banks open 7/7. Even Thai Post officce is open 7/7, and that till 8pm.

[Loptr]

Not just the banks... Seems like a lot of business' are closing until Jan 5th for the holidays...