New 100-baht banknotes on circulation Thursday

[webfact]

New 100-baht banknotes on circulation Thursday



BANGKOK: -- The Bank of Thailand today unveiled the new 100-baht banknotes to commemorate and honour King Taksin the Great.

The new commemorative banknote will have the same size and colour as the old 100-baht banknotes currently in use, but with advanced anti-forgery printing design which allows the ordinary people and the blind to identify the value and differentiate easily.

The new banknote features the portrait of His Majesty the King Bhumibol Adulyadej, and the watermark of Thai numeral 100 is specially transparent when held against the light on both sides.

The new 100-baht banknotes will be in circulation on February 26.

Source: http://englishnews.thaipbs.or.th/new-100-baht-banknotes-circulation-thursday

-- Thai PBS 2015-02-24

[hanno]

Nice, except that Friday is of course the 27th. Important date as I will turn 50. I will gladly accept either new or old 100-Baht notes

Edit: and obviously my eyesight is failing me as it is clearly mentioned that they will come out Thursday. Off to get my seeing-eye dog now.

Edited February 24, 2015 by hanno

[Ricardo]

Isn't it past time that a new larger note was issued, B1,000 is only GBP20 or US$30, many other countries feel the need for something bigger.

[attrayant]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

[hanno]

I would also like bigger notes. USD 30.00 is not exactly a lot these days and I do prefer to use cash. The US has 100 Dollar notes, UK 50 Quid N. Ireland 100 Pounds) and the largest EUR note is a hefty EUR 500.

[Paul888]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

I think that if you did own a business you might be able to come up with a few equally compelling reasons why being paid in cash can be a good thing.

[hanno]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

I think that if you did own a business you might be able to come up with a few equally compelling reasons why being paid in cash can be a good thing.

Not least of all the 4-7% fee payable to the credit card companies.

[Basil B]

"The Bank of Thailand today unveiled the new 100-baht banknotes to commemorate and honour King Taksin the Great."

Being slightly dyslectic you have to read things twice... (no "h" in Taksin")

[hanno]

"The Bank of Thailand today unveiled the new 100-baht banknotes to commemorate and honour King Taksin the Great."

Being slightly dyslectic you have to read things twice... (no "h" in Taksin")

Same here:-)

[Thai at Heart]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

I think that if you did own a business you might be able to come up with a few equally compelling reasons why being paid in cash can be a good thing.

Not least of all the 4-7% fee payable to the credit card companies.

And cash is hardly free. Just look at the hefty handling fees and time it takes to make deposits and move cash around...

[Guest]

Is there no limit to what TV whiners will cry about?

Oh the Humanity and Suffering!

What shall we do? The 1,000 baht note is not big enough, we shall have to carry TWO of them to make a $60+ purchase!

The sky is falling, the sky is falling!

Really, if your biggest problem is "They do not make money big enough to cover my purchases with one note" ... in a country where people earn 300 THB a day ... I would file that all under "High Class Problems"

[uptheos]

Isn't it past time that a new larger note was issued, B1,000 is only GBP20 or US$30, many other countries feel the need for something bigger.

I'm sure 7/11 staff would be thrilled!

[hanno]

Is there no limit to what TV whiners will cry about?

Oh the Humanity and Suffering!

What shall we do? The 1,000 baht note is not big enough, we shall have to carry TWO of them to make a $60+ purchase!

The sky is falling, the sky is falling!

Really, if your biggest problem is "They do not make money big enough to cover my purchases with one note" ... in a country where people earn 300 THB a day ... I would file that all under "High Class Problems"

Where was I whining????? Seems it is you that is making a mountain out of a mole hill;-)

Fact is that when I lived in Vietnam I could not get a credit card and had to carry everything in cash. Oh, and I do not know any Thais that make 300 THB a day, to be honest.

Edited February 24, 2015 by hanno

[FiestyFarang]

Isn't it past time that a new larger note was issued, B1,000 is only GBP20 or US$30, many other countries feel the need for something bigger.

Yes I agree at least a 2000 or possibly even a 5000Baht note, Singapore has a S$1000 which is around USD750 the biggest single note I have ever had.

Strange that is was paper when all the other notes are plastic which is meant to be harder to forge and although cost more to manufacture last longer and do not get damaged in water or the sea.

[masuk]

Is there no limit to what TV whiners will cry about?

Oh the Humanity and Suffering!

What shall we do? The 1,000 baht note is not big enough, we shall have to carry TWO of them to make a $60+ purchase!

The sky is falling, the sky is falling!

Really, if your biggest problem is "They do not make money big enough to cover my purchases with one note" ... in a country where people earn 300 THB a day ... I would file that all under "High Class Problems"

Where was I whining????? Seems it is you that is making a mountain out of a mole hill;-)

Fact is that when I lived in Vietnam I could not get a credit card and had to carry everything in cash. Oh, and I do not know any Thais that make 300 THB a day, to be honest.

A great many Thais would just love to be earning ฿300 per day.

[webfact]

The 16th series of Bt100 banknotes
The Nation


Photo by Bank of Thailand

BANGKOK: -- New Bt100 banknotes will be available at all commercial banks on February 26, Bank of Thailand announced today.

Being the 16th series for the banknotes with that face value, they are aimed at honouring King Taksin the Great.

Featuring the King’s activities, the banknotes also boast features that are more difficult for counterfeiting, the central bank said.

For people with impaired eyesight, they can detect the genuinity by touching an embossed line and three flowers, representing the "H" alphabet which is the abbreviation of "hundred".

Source: http://www.nationmultimedia.com/breakingnews/The-16th-series-of-Bt100-banknotes-30254748.html


-- The Nation 2015-02-24

[attrayant]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

I think that if you did own a business you might be able to come up with a few equally compelling reasons why being paid in cash can be a good thing.

Not least of all the 4-7% fee payable to the credit card companies.

All forms of trade have overhead. Cash costs governments money to mint. That money comes from your taxes. I couldn't find figures for Thai currency, but here it is for USD:

So there's your 5% "fee" for each dollar bill, 42% fee for each quarter, 46% fee for each dine and a whopping 188% fee for nickels and pennies.

The amount of money that can be pocketed by a single dishonest employee far exceeds the small overhead charged by electronic transaction clearinghouses. When you factor in all the things that can go wrong with cash, it's clear that plastic is the safer & less expensive option.

As far back as 20 or 30 years ago I remember rental offices flatly refusing to take cash. I had to pay rent with a personal check or money order (plastic not being widely used back on those days).

In addition to cost overhead there's also risk, which is much higher for cash and virtually nonexistent for electronic transactions.

Edited February 24, 2015 by attrayant

[FangFerang]

Nice, except that Friday is of course the 27th. Important date as I will turn 50. I will gladly accept either new or old 100-Baht notes

Edit: and obviously my eyesight is failing me as it is clearly mentioned that they will come out Thursday. Off to get my seeing-eye dog now.

You lived a half-century.

Congratulations!

My only rub is whenever they issue new notes, it takes the direct deposit machines a month to recognize them. That's how I pay rent. Here comes another headache....

[FangFerang]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

I think that if you did own a business you might be able to come up with a few equally compelling reasons why being paid in cash can be a good thing.

Not least of all the 4-7% fee payable to the credit card companies.

All forms of trade have overhead. Cash costs governments money to mint. That money comes from your taxes. I couldn't find figures for Thai currency, but here it is for USD:

So there's your 5% "fee" for each dollar bill, 42% fee for each quarter, 46% fee for each dine and a whopping 188% fee for nickels and pennies.

The amount of money that can be pocketed by a single dishonest employee far exceeds the small overhead charged by electronic transaction clearinghouses. When you factor in all the things that can go wrong with cash, it's clear that plastic is the safer & less expensive option.

As far back as 20 or 30 years ago I remember rental offices flatly refusing to take cash. I had to pay rent with a personal check or money order (plastic not being widely used back on those days).

In addition to cost overhead there's also risk, which is much higher for cash and virtually nonexistent for electronic transactions.

I had no idea that making a penny costs more than it's worth.

Thanks! What a hoot!

[rotary]

Isn't it past time that a new larger note was issued, B1,000 is only GBP20 or US$30, many other countries feel the need for something bigger.

No because that will increase the tariff at Soi Cowboy & Nana

[recycled]

Is there no limit to what TV whiners will cry about?

Oh the Humanity and Suffering!

What shall we do? The 1,000 baht note is not big enough, we shall have to carry TWO of them to make a $60+ purchase!

The sky is falling, the sky is falling!

Really, if your biggest problem is "They do not make money big enough to cover my purchases with one note" ... in a country where people earn 300 THB a day ... I would file that all under "High Class Problems"

Where was I whining????? Seems it is you that is making a mountain out of a mole hill;-)

Fact is that when I lived in Vietnam I could not get a credit card and had to carry everything in cash. Oh, and I do not know any Thais that make 300 THB a day, to be honest.

If you only know Thais that get above 300THB, you need to live in a rural area whereby 90% get less.

[FredNL]

I think there will be a market for 10,000 THB bank notes....

[bubblegum]

Very nice new bill, but what to do with all that small change under 1 bath.

[Ricardo]

Clearly only a few other posters have ever been involved in the purchase or sale of Thai property, whether it be land or houses or condos, the plastic-bags full of B1,000-notes at our local land-office are hardly convenient or secure, as people scurry into corners to count & recount them !

I recall our paying once, with a bankers-draft for B300k, the elderly lady was most reluctant to believe our paluang (the agent in the deal) & her children that this flimsy piece of paper was indeed money ! Bless her !

Edited February 24, 2015 by Ricardo

[noosard]

Yes have been to the land office a few times

had to have a sack full of 1000bht notes

so i would say there is a need for a larger note

[lildragon]

Taksin was a very interesting king, especially near the end of his reign....

Can't discuss it unfortunately, shame as it's interesting history, look it up if you're interested.

[timendres]

That would only encourage the use of cash for large transactions. Cash management requires more overhead, invites transaction errors whenever it changes hands or is counted, and is more easily stolen and laundered than electronic transactions. If I owned a business, I'd prefer all transactions over 1000 baht be done with a debit or credit card.

I think that if you did own a business you might be able to come up with a few equally compelling reasons why being paid in cash can be a good thing.

I very much prefer cash for any transaction under 100,000 baht!

[hanno]

If you only know Thais that get above 300THB, you need to live in a rural area whereby 90% get less.

I know and I did not mean to imply that there are no poor Thai but my Thai friends and acquaintances are all city slickers with fairly good jobs. I was just replying to the implication that all Thai are on 300 Baht a day or less.

[ginjag]

20-green, 50 blue, red 100. here now lies the problem for some with slight sight problems the next 2 need to be Yellow--500---and orange 1000.------why have colours that mingle a bit in the bad light.??

[Chao Lao Beach]

A 5000 b hat note would be good, (at least a 3000)