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BANGKOK 21 April 2019 09:56
webfact

Thailand Post branches out into banking

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Thailand Post branches out  into banking 

By JIRAPAN BOONNOON 
 THE NATION

 

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Thailand Post has joined hands with 10 banks to provide money deposit services via its 1,200 branches and counter services nationwide. 

 

The firm expects 50,000 transactions per month with value of around Bt700 million in the next three months.

 

Thailand Post president Smorn Terdthumpiboon said the firm is partnering Bank of Ayutthaya, CIMB Thai Bank, Krung Thai Bank, Kiatnakin Bank, Government Savings Bank, Kasikornbank, Siam Commercial Bank, Thai Credit Retail Bank, Tisco Bank and Thai Military Bank for the money deposit service. 

 

The Bank@Post services will serve as a counter for banks, which are reducing the number of their branches in recent times. The service targets upcountry customers and online shop owners who can deposit their money via Thailand Post branches and counter services. The maximum deposit is Bt20,000 to Bt50,000 per transaction depending on the terms and conditions of each partner bank.

 

The firm will also launch a promotion campaign for customers, with fee charge for deposits at Bt5 per transaction from now util the end of April.

 

She said that the Bank@Post services will serve as an alternative choice for people who live upcountry. They will be able to deposit their money via Thailand Post branches and counter services without going to the bank.

 

The firm in the second quarter will invite Bangkok Bank to participate in the Bank@Post services. It will also provide new money withdrawal services while in the next step, it will provide loans and e-KYC (know your customer).

 

She said by the end of this year Thailand Post will install e-KYC machines.

 

Recently, Thailand Post initiated many other financial services such as COD through Wallet@Post Application, which has recently been used for 1 million transactions, traffic ticket payment at post office and M-Pass top-up service for automatic payments for tollways and expressway.

 

The firm by the end of this year expects to generate revenue of around Bt30 billion revenue with net profit of around Bt4.4 billion.

 

Source: http://www.nationmultimedia.com/detail/Corporate/30366112

 

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 -- © Copyright The Nation 2019-03-20
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2 hours ago, webfact said:

Thailand Post has joined hands with 10 banks to provide money deposit services via its 1,200 branches and counter services nationwide. 

an arm of the government involved directly in banking ? doesnt sound good; note bangkok bank is not referenced

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Well they have to try something to keep Thai post afloat, deliveries are a joke.

Kerry are knocking spots off them at that.

Last week we got mail delivered, several items 1 of them had been in circulation for over 5 weeks.

The local postman here delivers all the months mail together on the same day.

Oh sorry  Mr Somchai that bank deposit you made last month should arrive shortly.:cheesy:

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I do not trust ThaiPost with a postcard; I would NEVER trust them with money.

 

I have often felt that their slogan should be;

 

"We Steal Your Stuff While Laughing About It"

 

 

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Always amazed me in this day and age that they still only except cash !

No card or electronic payment service of any kind. (Not in my area).

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Sorry - Did i read that correctly - They are going to charge 5 baht for people to deposit their money,  which is part of a promotion campaign. So can I assume the fee we pay to give our money to banks will actually increase.  

 

Thailand's banking system, because it is so massively protected by government provides its customers which such poor value for money that it needs foreign banks to come in and add some badly needed competition. It should be about delivering a fast, efficient and cost effective service to the customer and empowering them with choice. Not charging them to deposit money.  

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2 hours ago, ezzra said:

Have you ever seen the inside of a local post office? at best it look like a rubbish dump, at worst, a complete shamble, an ordinary letter from BKK to Chonburi takes 2 weeks and the reverse 3 weeks to arrive, good luck to them handling money your monies now...

Yes....the rear of Cha Am post office is like a bomb went off....crap everywhere and I'm guessing that's the norm!

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2 hours ago, jonclark said:

Sorry - Did i read that correctly - They are going to charge 5 baht for people to deposit their money,  which is part of a promotion campaign. So can I assume the fee we pay to give our money to banks will actually increase.  

 

Thailand's banking system, because it is so massively protected by government provides its customers which such poor value for money that it needs foreign banks to come in and add some badly needed competition. It should be about delivering a fast, efficient and cost effective service to the customer and empowering them with choice. Not charging them to deposit money.  

Good points.

 

I read an article a few weeks ago about reduction of branches in many countries.

 

Main points:

 

- Electronic banking, payments etc., will increase but there will always be a need for cash, and that also means facilities to deposit cash into bank accounts.

 

- In fact as electronic banking increases many banks will take the attitude that the only reason to keep branches open is to accept cash deposits into customers accounts. Everything else can be done through internet banking and by telephone banking.

 

- Also mentioned many banks (globally) now using services offered by other organizations for cash deposits with very small fees, therefore banks able to close the walk-in branches.  It also mentioned a bank in Australia following all of the above, and when customer deposits using other facilities the bank actually owning that account refunds any deposit fees paid by the customer.

 

Seems to me this is the future. 

 

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Why would anyone pay a fee to get their money deposited. Might as well keep money under pillow with the interest rates here. Banks should invest in more CDMs, not charging more for useless services. 

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4 hours ago, Crossy said:

Let's hope the funds don't get "lost" in the post.

 

Or delivered to the same wrong address. Accidentally of course.

 

 

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Posted (edited)
3 hours ago, colinneil said:

Well they have to try something to keep Thai post afloat, deliveries are a joke.

Kerry are knocking spots off them at that.

Last week we got mail delivered, several items 1 of them had been in circulation for over 5 weeks.

The local postman here delivers all the months mail together on the same day.

Oh sorry  Mr Somchai that bank deposit you made last month should arrive shortly.:cheesy:

Looks like we suffer the same fate with a month's worth of mail delivered in one drop.

I often receive receipts for payments made monthly by online banking, for the previous two months - TOT, three different AIS accounts - two mobile postpaid and AIS fibre for the internet.

 

Being a boring bastard, I've kept track over recent months of how many items our post-lady delivered each time, with no more than one delivery per month:

13, 7, 3, 1, 3, 6, 7, 16.

 

Centre of the list above with one item: An A4 sized package, too large for the mailbox at our gate, so she had to ring the doorbell.

 

Any documents I have to send, I always use EMS. I can track them, and they always arrive in one/two days.

 

Edited by bluesofa
grammar
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