New verification rule for using cash deposit machines from Nov 15
From November 15, people will be required to verify themselves with a debit or credit card when making deposits via cash deposit machines (CDM).
Budsakorn Teerapunyachai, the Bank of Thailand’s senior director of the Payment Systems Policy Department, said this requirement is in line with the Anti-Money Laundering Office’s laws against money laundering and financing of terrorism.
“Verification is necessary to ensure safety in performing financial transactions,” she said.
People who do not have a debit or credit card can make cash deposits using other channels such as top-up machines, counter services at convenience stores, post offices or bank tellers.
So far, 11 commercial banks have approved the new measure, including Krung Thai Bank, Siam Commercial Bank, Kasikorn Bank, Bangkok Bank, Bank of Ayudhya, TMBThanachart Bank, UOB Bank, CIMB Bank, the Government Savings Bank, the Government Housing Bank and Kiatnakin Phatra Bank.
