Digital money 10,000 baht, who is eligible after the government is established, check the conditions
- Napapat Itanupratana
- Sep 4, 2023
- 6 min read
After the establishment of the government, the 'Phak Pheua Thai' party led the successful formation of the government. What most people are eagerly anticipating is the '10,000 Baht digital money' policy, which is an urgently needed economic stimulus. It was used to gain votes during the 2023 elections, with the goal of distributing income to communities and ensuring that money circulates within the economic system. Who is eligible? Check the conditions here...
What is 10,000 Baht digital money?
10,000 Baht digital money is a digital wallet with an amount of 10,000 Baht, which is part of the government's economic stimulus policy introduced to boost the economy during times of emergency. It is part of the national economic boost plan that emerged due to the outbreak of a pandemic in the country.
This digital money policy was proposed to distribute income and stimulate spending in the economy by providing opportunities for eligible individuals to benefit from the policy. It also aims to build confidence and understanding of digital money among the public.
Furthermore, the digital money policy also aims to stimulate the circulation of money in the economy and inspire people to spend and invest in various economic activities, which may result in movements in the local market and economy."
Do I need to register for 10,000 Baht digital money? How do I receive the money?
Receiving 10,000 Baht digital money does not require any registration as per the policies of the 'Phalang Pracharath' party. The digital money distribution system has been designed to be easy and convenient for eligible individuals. The money will be sent directly to the recipient's digital wallet.
The Prime Minister of Thailand, the 30th in office, has stated that the digital money distribution system will be linked to the national identification card. This means that you do not need to have a smartphone or app to receive the money. If you have a 13-digit national identification card, you can use the card number in the process of receiving the money.
Therefore, there is no need for any additional registration or actions to receive the 10,000 Baht digital money. Furthermore, this digital money distribution system has been designed to make it convenient and easy for recipients to use during times of economic emergency.
In summary, the 10,000 Baht digital money will be sent directly to your digital wallet, and you do not need to register or take any additional actions to receive this money.
When will I receive the 10,000 Baht digital money?
Currently, the 10,000 Baht digital money is still a policy that has been proposed but not yet implemented for actual payment. However, according to information provided by the Phalang Pracharath party, once the government has been established, it is expected that the policy for the 10,000 Baht digital money will come into effect starting from January 1, 2024.
Nevertheless, when the 10,000 Baht digital money policy by Phalang Pracharath is implemented, the process for receiving the money will follow the guidelines set by the government. The clear goal is to stimulate economic circulation and promote spending to restore confidence among the public during challenging economic times.
Therefore, if you are waiting to receive the 10,000 Baht digital money, it is advisable to stay updated with information and guidelines that the Phalang Pracharath government will announce in the future. This is an important period to look forward to and anticipate as it aims to increase opportunities for spending and investment in various economic activities within the country
The Eligibility Criteria for Receiving 10,000 Baht Digital Money: Who Qualifies?
The policy for the 10,000 Baht digital money has set criteria for individuals who are eligible to receive it to stimulate the economy during challenging times and support those in need of sustainable livelihoods.
Thai citizens who are eligible to receive the 10,000 Baht digital money include individuals who meet the following conditions:
Thai citizens aged 16 years and older.
Individuals holding a 13-digit Thai national ID card, which serves as proof of identity and entitlement.
Additionally, this policy emphasizes the importance of vulnerable and high-need groups, such as persons with disabilities and the elderly, who will receive the full amount of digital money without deductions.
It is estimated that approximately 50 million people will be eligible to receive digital money as part of the Digital for Thailand 10,000 Baht policy. This initiative aims to provide economic support and access to digital funds to people throughout Thailand during challenging economic times.
Registration Process for Receiving 10,000 Baht Digital Money
The Pracharat Party has implemented a policy for the direct transfer of 10,000 Baht in digital money to the public through digital wallets. This initiative aims to support the economy during times of emergency, and it does not require individuals to register in order to receive the funds.
This streamlined process has been developed to align with the national ID card system, allowing all Thai citizens with a 13-digit national ID card to access and utilize digital funds, regardless of whether they possess a smartphone or not. Consequently, this approach ensures that the distribution of digital money is efficient and user-friendly.
What Can You Buy with 10,000 Baht Digital Money?
The 10,000 Baht digital money policy has outlined specific details regarding its usage to maximize its benefits for the public.
Usage Radius: The digital money of 10,000 Baht can be spent within a 4-kilometer radius of the recipient's registered address. This approach ensures that the funds are used to boost the local economy effectively.
Online Shopping: The 10,000 Baht digital money cannot be used for online shopping. This decision encourages community-based commerce and trade, fostering local economic growth.
Usage Period: The digital money can be used for payments for goods and services within a 6-month period from the date of receipt. This timeframe encourages timely and relevant spending.
Cash Withdrawals: Digital money cannot be withdrawn as cash. The system aims to promote the use of digital funds in other forms to stimulate local trade and businesses.
Queue Prevention: To ensure an orderly process and prevent misuse, the system includes measures to prevent queue jumping and unauthorized use.
Usage Channels: To enhance convenience, eligible recipients can use their national ID card through a mobile application or utilize their national ID number with a personal code for payment.
The 10,000 Baht digital money policy is designed to be a beneficial option for the public to spend on necessary goods and services based on individual needs and the country's characteristics. It aims to increase income generation and foster relationships among various sectors within communities.
Usage Period of 10,000 Baht Digital Money
The 10,000 Baht digital money must be fully utilized within 6 months. Recipients have the flexibility to spend it all at once or gradually during this period.
Digital Money of 10,000 Baht: Start Date
It is anticipated that the Digital Money program of 10,000 Baht will commence on January 1, 2024. This start date was chosen by the Phak Phuea Thai Party to ensure that the program begins at the start of the new year, allowing people to start using the digital money for various daily expenses as soon as possible.
Furthermore, the Phak Phuea Thai Party has stated that this digital money policy is safe and low-risk. The received digital money can be easily spent and can be exchanged for cash in the case of registered traders.
However, this policy has received both praise and criticism from the public. The set budget for the 50 million eligible citizens, which is estimated to be as high as 5 trillion Baht, has raised concerns and uncertainties about the feasibility of implementation and its economic impact.
To present the concept of distributing 10,000 Baht digital money, the Phak Phuea Thai Party must wait for the official implementation date, and in the meantime, the public can seek additional information on how to use it and related terms and conditions.
FAQs
Q: Can foreigners apply for the 10,000 Baht digital money?
A: No, only Thai citizens with permanent residency are eligible to apply.
Q: Is registration required for the 10,000 Baht digital money?
Q: How do I receive the 10,000 Baht digital money?
Q: When will I receive the 10,000 Baht digital money?
Q: What can I buy with the 10,000 Baht digital money?
Q: What can't I use the 10,000 Baht digital money for?
Summary
The Phak Phuea Thai Party-led government has consistently stated that its policy regarding digital wallets is secure and low-risk, as it does not involve the creation of a new currency. This makes it easy for digital money to be used for payments and purchases and allows for conversion to cash for registered traders.
However, this policy has faced intense criticism, especially regarding the substantial budget of up to 5 trillion Baht for the 50 million eligible citizens. This has raised concerns about its feasibility and potential economic impact.
Nonetheless, the Digital Money of 10,000 Baht from the Phak Phuea Thai Party is still awaiting an official start date. In the meantime, the public can gather preliminary information on how to use it and its associated terms and conditions.
It's important to note that, as of now, there is no official digital wallet app related to this policy, so caution should be exercised to avoid potential fraudulent apps.
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