Krungthai Bank to transfer tax refunds via Prompt Pay

Krungthai Bank has announced it is now fully ready to utilize the National E-Payment system ‘Prompt Pay’ and will starting January 4, 2017 use it to transfer senior citizen and disability stipends as well as tax refunds for the public.

Vice President for Business Finances at Krungthai Bank Songpol Cheewpanyaroj has announced that from January 4 2017 onward, Krungthai, as the bank tasked by the Revenue Department with forwarding tax refunds to citizens signed on to the Prompt Pay system, will begin doling out the funds through the e-payment method. He noted that citizen can continue to register for the system between January 1 and March 31 so that they may use it to receive their refund.

In February, the bank will also be using Prompt Pay to distribute government stipends to the elderly and disabled and urged those eligible for the assistance to register for Prompt Pay soon.

At present, over 2.2 million citizens are in the Prompt Pay system, which was already used to disperse low-income earner aid to some 300,000 people.