SPEEDY REFUND ORDERED FOR ERROR IN MONEY TRANSFER

Economy August 08, 2018 01:00

By The Nation

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The Bank of Thailand, through The Thai Bankers Association, has instructed its member banks to refund clients within one day of a money transfer error, said the association’s president Predee Daochai yesterday.



The move would boost confidence of bank clients as it currently takes up to three days for the refund, he said.

He added that for transfer system error occuring in the same bank, with the sender’s and receiver’s accounts in one bank, the amount will be returned to the sender on the same day of the transaction error.