Bankers permitted to halt ATM, close bank branches in emergency

BANGKOK, Mar 9 (TNA) – The management of Thailand’s commercial banks are permitted to instruct an immediate halt to ATM services or the operations of bank branches in risk-prone areas without prior consent from the central bank,  according to Bank of Thailand (BoT) Deputy Governor Krirk Vanikkul.

The BoT decision was made amid mounting rumors that the planned mass rally by anti-government Red Shirt demonstrators on March 14 might turn violent and lead to a destruction of ATM booths or bank branches, particularly in risk-prone areas.

Under a contingency plan to ensure the safety of commercial banks which the BoT discussed with bank executives, he said, the central bank allows bank executives to halt ATM services or branch bank operations immediately in case of emergency.

“Normally, commercial banks must report to the central bank first if they have to decide on the closing of bank branches or ATM booths, but in case of emergency, the central bank is allowing the banks to make the decision and report it later to ensure safety of their employees and property,” he said.

Mr Krirk said he believed all commercial banks had understood well a need to take care of their employees and property and had a contingency plan to ensure their safety.

The deputy chief added the BoT also approved an extension of services by the coordination center tasked to address lending problems from April to the end of this year because many consumers continued  to complain with the center.

Mr Krirk said the center could serve as a channel to create proper understanding among people of how to seek loans and services from commercial banks. It is also a venue where people could file a complaint  about problems they have with financial institutions.

Should people have any loan problems, they could file their complaint or discuss with the center at telephone number 02-283-5900. (TNA)