KBank offers deposits at Thailand Post sites
Lender looking for more banking agents
Kasikornbank (KBank), the country’s thirdlargest lender by assets, plans to provide deposit service through Thailand Post, its banking agent, from next month, with the aim of offering more convenient access for customers.
Deposits are a new service at Thailand Post under the Bank of Thailand’s amended regulations governing banking agents, said president Patchara Samalapa.
Thailand Post has long been KBank’s banking agent for money transfer service.
Banking agents are now permitted to provide cash withdrawals of up to 5,000 baht per transaction and 20,000 per day per customer.
The expanded scope of banking agents, which is expected to help banks access the unbanked and plug the gap before the fullscale adoption of digital banking, comes as more physical bank branches close while more users look to do their banking online.
The bank is also in talks to close a deal with the country’s leading petrol station operator to be a banking agent, Mr Patchara said.
KBank has also adopted new service points utilising several models to provide clients more convenient services.
The bank collaborated with Comm 7 Plc to recently open mini-branches at Banana IT stores. The duo plans to open other outlets and service points under the partnership model in other sectors.
KBank seeks more potential banking agents and business partners to expand its customer base. The potential partners should link with the bank’s financial services on both online and offline platforms, he said.
KBank is the industry leader for mobile banking service, with its K Plus offering boasting total users of 8.4 million.
The bank has joined hands with Chao Phraya Express Boat Co to offer QR code payment service for fares.
To encourage the express boat’s passengers to pay the fare through the digital channel, the bank offers a discount of two baht per transaction, Mr Patchara said.
The bank’s QR code payments increased to 800,000 transactions per month as of June, up from 120,000 in November last year when the service was officially rolled out.
KBank is keen to reach 1 million transactions a month by the end of this year, he said.
KBANK shares closed yesterday on the Stock Exchange of Thailand at 197.50 baht, up four baht, in trade worth 1.43 billion baht.