Thai Banks Prepare for New Year Rush

Thai banks are getting ready for the coming holidays with financial firms already funding cash reserves.

Bangkok Bank is readying 60 billion baht in cash while Kasikornbank (KBank) and Siam Commercial Bank (SCB) are preparing 32 billion baht and 56 billion baht in cash respectively. This nationwide preparation is expected to withstand the anticipated massive numbers of withdrawals that usually happens during holidays.

Bangkok Bank has already waived its inter-regional ATM withdrawal fees. 10,000 ATMs will be available to the public for the holiday season while 300 micro-branches in shopping malls will be open to serve people during mall hours. Bangkok Bank has already said that its focus will be the tracking and refilling ATM cash reserves that are located in major tourist and popular areas.

Meanwhile, KBank will implement holiday measure from December 31 to January 3. The 32 million baht cash that has been allocated by the bank will be divided to the following: 4.4 billion baht cash for banks in the capital of Bangkok while 6.6 billion baht will be for the provincial banks all over the nation. The remaining 21 billion baht will be available on more than 8,900 KBank ATMs in the whole country.

SCBs 56 billion baht cash reserves will be divided into two: 43 billion baht for ATMs and 13 billion baht for bank branches and other clients.

All Thai banks will resume normal operations on January 4, 2017.