Next phase of digital wallet scheme set to commence
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Next phase of digital wallet scheme set to commence

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People receive the handout in Buri Ram province on Sept 26, 2024. (Photo: Surachai Piragsa)
People receive the handout in Buri Ram province on Sept 26, 2024. (Photo: Surachai Piragsa)

The Finance Ministry is poised to transfer 10,000 baht per person to eligible seniors under the digital wallet project, estimated to number 3.5-4 million people, in the next phase starting Jan 27.

This initiative is expected to circulate more than 30 billion baht in the economy, according to the government.

Deputy Finance Minister Paopoom Rojanasakul said the government will hand out 10,000 baht per person in the second phase of the scheme to Thais age 60 or older who meet the eligibility criteria, with the aim of stimulating the economy.

The funds are scheduled to be transferred to accounts linked to PromptPay via national IDs on Jan 27.

Payments cannot be made to PromptPay accounts linked to a phone number. Any bank account can be linked without restriction at state-owned banks.

Mr Paopoom advised eligible recipients to link their PromptPay accounts to their national ID by Jan 22 to ensure payment on Jan 27.

He also recommended eligible recipients check with their bank to confirm their PromptPay account is active and capable of facilitating the transfer.

Eligible Thais must have registered using the government's Tang Rat app and be 60 or older as of Sept 15, 2024.

Additional eligibility conditions include having annual assessable income for the 2023 tax year of no more than 840,000 baht, while eligible applicants can have a maximum of 500,000 baht in bank deposits as of June 30, 2024.

Recipients cannot reside in social welfare institutions under the Social Development and Human Security Ministry as of Nov 30, 2024, and cannot be a convicted prisoner, detainee, confined individual, or under preventive detention based on the Corrections Department's database as of Nov 30, 2024.

Eligible recipients must not belong to the groups that already received a payment from the 2024 stimulus programme, who were mainly state welfare cardholders or people with a disability.

Mr Paopoom said individuals can check their status on the Tang Rat app from Jan 22, entering their username or national ID number and password to log in, then selecting "check registration status" under the "Digital Wallet 10,000-baht programme".

If payment to groups fails on the first attempt, three more attempts to complete payments are planned on Feb 28, March 28 and April 28.

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