Thailand’s Digital Wallet cash hits bank accounts as over 3 million people receive ฿10,000, offering relief to many struggling families. But reports of creditors targeting recipients at ATMs spark outrage, with Deputy PM Anutin warning against intimidation.
Thailand’s much-vaunted Digital Wallet cash hit bank accounts on Wednesday, with over 3.17 million people receiving the ฿10,000 payout. Certainly, the initiative is being well received by the public. However, this is not the original plan; it is simply a cash stimulus to a population in dire need. On Wednesday, one 64-year-old woman in Buriram explained that she had not seen ฿10,000 (around $300) in her hands in 10 years. Meanwhile, Deputy Prime Minister and Minister of the Interior Anutin Charnvirakul lashed out at reports of moneylenders escorting creditors to ATMs to snatch the money for debt repayments.
Thailand’s Digital Wallet cash finally started appearing in bank accounts on Wednesday, September 25. In Buriram, a 64-year-old woman waited at the Bank for Agriculture and Agricultural Cooperatives (BAAC) in the centre of the city.
Noi Yaem Parksin brought her ATM cards, and a security guard at the bank helped her access her account. Subsequently, she withdrew ฿10,000 in cash. After that, the elderly woman sobbed with relief and happiness.
Her story goes far to explain the chronic economic malaise at the heart of Thailand’s weak economic data. Formerly a trader and merchant, she had given up her business.
Supporting disabled family members adds to the burden for many Thai women struggling with economic hardship
In turn, she helps support her sister and brother. All three suffer from disabilities. At the same time, three school-going nephews suffer from mental health issues.
She lives with her older sister and younger brother.
The family receives allowances from the government, including ฿300 a month each from state welfare cards. Ms. Noi, like strong women in so many other Thai families, is the leader and tries to support the family in making ends meet.
In her conversation with reporters, she explained that she has a youngest son. He had been selling fried chicken to make a living.
However, in recent weeks, he suffered an accident with a broken leg. In the meantime, he is struggling to recover from this health setback, his hand to mouth business on hold.
After years of deprivation, the ฿10,000 cash payout is a lifeline to families including this one in Buriram
She explained that it had been at least ten years since she had ฿10,000 in her hands. The family struggles to eat and cannot make ends meet regarding household expenses. Consequently, their home has deteriorated to such an extent that the roof leaks when it rains.
She had been forced to give up her business as a trader and merchant for two reasons: one was ill health, and the other was a lack of capital.
In short, she lacked the money to buy stock. At the same time, ordinary people have spent years pinching household expenditure, especially since the pandemic setback.
On Wednesday, as she smiled, she said the government handout would make life a little easier. Certainly, she planned to keep some of it to buy provisions for cooking snacks to sell to the public.
However, on Wednesday, her immediate priority was to buy eggs and rice for her family at home.
Digital Wallet handouts may raise public expectations and create challenges for future government plans
In addition, she would need to stock up in a home that has gone without for so long. She expressed her gratitude to the government for thinking of the poor and disabled.
Noi was one of 3.17 million people to receive the Digital Wallet money on Wednesday. In August, the government finally conceded that the controversial project would go ahead with a cash payout. Nevertheless, there are still some insisting that the second phase will be a digital-based handout.
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However, this proposition is fraught with uncertainty. Furthermore, the cash payout on Wednesday has raised expectations among other sectors of the public that they, too, can receive cash. Indeed, this may itself become an issue if the government insists on clinging to the original and somewhat questionable vision.
More payouts are expected but there are concerns over system failures and the programme’s economic impact
Certainly, at this time, over 11 million more people with social welfare cards are due to receive the payout in the coming weeks. There have been problems. On the first day, some 50,000 payments failed. In brief, this was due to the accounts and cards of some users expiring.
Overall, on Wednesday, reports from the ground sent a clear message to the government. This is not the digital age economy that Thai planners in Bangkok envision. In short, it is an economy whose grassroots are living in penury, struggling to make ends meet.
For instance, in another incident featured in several online videos, an angry response came from the Ministry of the Interior, led by Anutin Charnvirakul. In short, the clips showed creditors or moneylenders attempting to collect the cash funds from debtors at ATM points.
Deputy Prime Minister Anutin warned that police should arrest any person intimidating people in such a fashion, even if they are creditors. He urged police to remain vigilant against such acts.
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