PM orders three state banks to get ready for National Savings Fund operations

[Lite Beer]

PM orders three state banks to get ready for National Savings Fund operations
The Nation

BANGKOK: -- Prime Minister Prayut Chan-o-cha has ordered three state banks to get ready for receiving deposits from the people under the National Savings Fund scheme, Deputy Government Spokesman Maj Gen Sansern Kaewkamnerd said Sunday.

He said the prime minister wanted the Bank for Agriculture and Agricultural Cooperatives, the National Savings Bank and the Krung Thai Bank to get ready for receiving deposits under the scheme.

Sansern said the launching date of the scheme was put off from August 18 to August 20.

Source: http://www.nationmultimedia.com/breakingnews/PM-orders-three-state-banks-to-get-ready-for-Natio-30265729.html

-- The Nation 2015-08-02

[Reigntax]

I think most banks are well equipped to accept monetary deposits without the need to be prewarned. The general may be unaware of what banks actually do similar to his knowledge of governments and democracy.

[DNPBC0]

If the purpose is to encourage people to save, then deposit interest rates will need to improve - dramatically.

[ChrisY1]

Are they expecting truckloads of cash arriving at the banks doors???........Sometimes these people just have to speak into a microphone.......no matter what they say!

[bangkapi]

Weird!

[Anthony5]

Are they expecting truckloads of cash arriving at the banks doors???........Sometimes these people just have to speak into a microphone.......no matter what they say!

Maybe he's gonna hand out money at the end of the month, or is it that the economy will approve drastically like he is claiming for 15 months already, and everybody will be rich.

[jerojero]

Banks need to get ready? What a bunch of b.sht. Banks are that inept that they need to be told get ready? Oops, answered my own question inadvertently.

[Valentine]

What a bunch of cynical comments on something which is a good social initiative to provide security for the elderly especially as more & more are not being taken care of by selfish family members who have the me me attitude.

[prakhonchai nick]

All very well to be prepared, but prepared for what?

Do the Thai people know anything about the National Savings Fund? Most unlikely..

[Orac]

Just another pot of money to borrow from for some more non-populist schemes.

[WitawatWatawit]

To the cynics: There will be procedural, administrative and bureaucratic matters involved that are likely to be separate from the banks' normal operations. So they do indeed need to be warned to be ready, given the typical bureaucratic creak in this country.

[mikebell]

Banks need to get ready? What a bunch of b.sht. Banks are that inept that they need to be told get ready? Oops, answered my own question inadvertently.

Thai banks are inept. I am a Committee member of a Juristic entity. We have 1.5 million in a current account & wanted to put 1 million on deposit. We checked exactly what was required; made an appointment & seven of us duly turned up with passports/ID cards.. They found some excuse for disallowing us. They will lose our account immediately we have made inquiries at another bank.

I am not hopeful - we closed our account at a previous bank because as I was cashing a cheque in front of the smiling manageress, I put the wrong date & crossed it out. She told me I had to drive back 20 kms and get another cheque signed by three members & return. I told her as she had witnessed my mistake she could counter-sign it. She could not even though I told her she would lose the account. She lost the account!

[4evermaat]

Banks need to get ready? What a bunch of b.sht. Banks are that inept that they need to be told get ready? Oops, answered my own question inadvertently.

Thai banks are inept. I am a Committee member of a Juristic entity. We have 1.5 million in a current account & wanted to put 1 million on deposit. We checked exactly what was required; made an appointment & seven of us duly turned up with passports/ID cards.. They found some excuse for disallowing us. They will lose our account immediately we have made inquiries at another bank.

I am not hopeful - we closed our account at a previous bank because as I was cashing a cheque in front of the smiling manageress, I put the wrong date & crossed it out. She told me I had to drive back 20 kms and get another cheque signed by three members & return. I told her as she had witnessed my mistake she could counter-sign it. She could not even though I told her she would lose the account. She lost the account!

Not sure how large the face value of the check was, but to be fair, maybe she was afraid it would be rejected at the corporate office. They wanted no crossout mistakes.

[dageurreotype]

If the purpose is to encourage people to save, then deposit interest rates will need to improve - dramatically.

I was thinking of this just yesterday after checking an account I had in one bank which had advertised a special savings rate and noting it was no different from another ordinary savings account. You're right, it really doesn't encourage people to save. The banks should allow their profits to be eaten a little more. More would save in them, a win win.

[dageurreotype]

Banks need to get ready? What a bunch of b.sht. Banks are that inept that they need to be told get ready? Oops, answered my own question inadvertently.

Thai banks are inept. I am a Committee member of a Juristic entity. We have 1.5 million in a current account & wanted to put 1 million on deposit. We checked exactly what was required; made an appointment & seven of us duly turned up with passports/ID cards.. They found some excuse for disallowing us. They will lose our account immediately we have made inquiries at another bank.

I am not hopeful - we closed our account at a previous bank because as I was cashing a cheque in front of the smiling manageress, I put the wrong date & crossed it out. She told me I had to drive back 20 kms and get another cheque signed by three members & return. I told her as she had witnessed my mistake she could counter-sign it. She could not even though I told her she would lose the account. She lost the account!

I can match that. My account was in a different province, they'd blocked my ATM card as my 'passport number had changed'. I told them I'd had to renew my passport a year ago and that the numbers automatically change but the information doesn't and that I'd had no problems at immigration offices, could I fax a signed copy (in front of my local branch) and obtain a new card? 'Cannot'. After an hour and a half of this I'd asked how I was supposed to travel to the province where my account was if I couldn't withdraw my money. 'Fax a signed copy of your passport and we will release your money' Withdrew everything and closed the account

[Valentine]

Banks need to get ready? What a bunch of b.sht. Banks are that inept that they need to be told get ready? Oops, answered my own question inadvertently.

Thai banks are inept. I am a Committee member of a Juristic entity. We have 1.5 million in a current account & wanted to put 1 million on deposit. We checked exactly what was required; made an appointment & seven of us duly turned up with passports/ID cards.. They found some excuse for disallowing us. They will lose our account immediately we have made inquiries at another bank.

I am not hopeful - we closed our account at a previous bank because as I was cashing a cheque in front of the smiling manageress, I put the wrong date & crossed it out. She told me I had to drive back 20 kms and get another cheque signed by three members & return. I told her as she had witnessed my mistake she could counter-sign it. She could not even though I told her she would lose the account. She lost the account!

Not sure how large the face value of the check was, but to be fair, maybe she was afraid it would be rejected at the corporate office. They wanted no crossout mistakes.

Whenever a change is made on a cheque, such as the date, it has to be countersigned by whoever is authorised by the company to sign cheques, whether that is 1, 2 or 3 signatures as stipulated when opening the account. She was only following normal procedure.

[elgordo38]

I think most banks are well equipped to accept monetary deposits without the need to be prewarned. The general may be unaware of what banks actually do similar to his knowledge of governments and democracy.

Most Thai's only go into a bank to borrow methinks and even that crowd is thinning out as banks are tightening lending rules. A pat on the back for any average Thai saving money in today's society. My g/f was telling me today that a friend of hers wants to sell her car desperately cannot make the payments. Sound familiar?

[elgordo38]

What a bunch of cynical comments on something which is a good social initiative to provide security for the elderly especially as more & more are not being taken care of by selfish family members who have the me me attitude.

Selfish is a world wide problem. Yes the me me first problem will get worse here in the years to come but maybe not through greed but necessity to keep body and soul together. My g/f tells me(she is under 30 and speaks fairly good English) that she with her grade 10 education would have a hard time to get a living wage job in Thailand anywhere. I forget what the government stats are on unemployment but they are really low(according to the government figures fudged? hmm) like 1 percent or something. There seems to be a lot of underemployment here as there is in the rest of the world. Enter robotics and being surrounded by low wage countries(some signing onto the American bandwagon called TPP Obama's legacy at the cost of oh crap forget it you know the answer) and things only get worse.

[timendres]

Banks need to get ready? What a bunch of b.sht. Banks are that inept that they need to be told get ready? Oops, answered my own question inadvertently.

Thai banks are inept. I am a Committee member of a Juristic entity. We have 1.5 million in a current account & wanted to put 1 million on deposit. We checked exactly what was required; made an appointment & seven of us duly turned up with passports/ID cards.. They found some excuse for disallowing us. They will lose our account immediately we have made inquiries at another bank.

I am not hopeful - we closed our account at a previous bank because as I was cashing a cheque in front of the smiling manageress, I put the wrong date & crossed it out. She told me I had to drive back 20 kms and get another cheque signed by three members & return. I told her as she had witnessed my mistake she could counter-sign it. She could not even though I told her she would lose the account. She lost the account!

I can match that. My account was in a different province, they'd blocked my ATM card as my 'passport number had changed'. I told them I'd had to renew my passport a year ago and that the numbers automatically change but the information doesn't and that I'd had no problems at immigration offices, could I fax a signed copy (in front of my local branch) and obtain a new card? 'Cannot'. After an hour and a half of this I'd asked how I was supposed to travel to the province where my account was if I couldn't withdraw my money. 'Fax a signed copy of your passport and we will release your money' Withdrew everything and closed the account

Better still. I walked into my bank branch to cash a check. I filled out the check in front of the teller and signed it, handing her my passport. The teller pulled up my account and verified my signature. She then handed the check back to me and stated that my own signature did not match the signature on the computer!!!!

I politely stated: You have my passport, you can see the photo that looks like me, you watched me sign the check. Whose signature is 100% identical every time?!

But, she had to call over a manager, who then had a meeting with her superior, and 20 minutes later they agreed to cash my check.

Holy lack of a thought process Batman!

[quandow]

STILL waiting for the soap operas!!!

[sammygood]

this country is up to their necks in debts, but people will bring in their cash and need to be warned?