GSB looks into handout account opening plans

State-owned Government Savings Bank (GSB) is in discussions with the Bank of Thailand, the Thai Bankers’ Association and other specialised financial institutions (SFIs) regarding giving people the ability to request new bank account numbers online by linking citizen IDs to the accounts for identity authentication.

The proposal is aimed at preventing large crowds from gathering at bank branches to open accounts for the government’s 5,000-baht cash handout as the pandemic continues to spread.

The bank is discussing with related parties whether this is possible and if the IT system can accommodate the process, said Chatchai Payuhanaveechai, GSB president and chief executive.

To facilitate new account number requests online, banks are required to block account numbers for these requests. If the blocked account numbers are not used, they will be cancelled later, he said.

Both commercial banks and SFIs shuttered their branches across the country over the weekend after long

‘‘ The proposal is aimed at preventing large crowds from gathering. CHATCHAI PAYUHANAVEECHAI President and chief executive, GSB

queues formed at some state bank branches on Friday ahead of registration for the 5,000-baht cash handout to self-employed people that started on Saturday.

Banks did not offer new bank account opening services at physical branches on Monday and Tuesday.

More than 20 million people have signed up for financial assistance since registration opened, significantly higher than the Finance Ministry’s earlier estimate of 3 million recipients.

The ministry reiterated that eligible recipients must be contract employees or self-employed workers affected by the coronavirus outbreak and not covered by the Social Security Act’s Section 33.

Poomsak Aranyakasemsuk, director-general of the Comptroller-General’s Department, said the state agency has allowed each province, including Bangkok, to make an advance payment with a ceiling of 50 million baht for coronavirus protection purposes.

The 50-million-baht advance payment is separate from the existing 10-million advance payment for natural disasters, he said.