The Stock Exchange of Thailand (SET), continues to boost the efficiency of post-trade services by joining with Bangkok Bank (BBL) to enable BBL customers who are securities holders to apply for e-dividend service via BBL’s 7,000 automated teller machines (ATMs) nationwide and Internet banking, enabling them to get service 24/7.
The e-dividend service, managed by Thailand Securities Depository Co., Ltd (TSD), helps securities holders to receive dividends or interest directly deposited into their bank accounts. Those who use this service will get payments promptly on the due date, without postal delays/losses and without having to take checks to deposit at their bank. This service saves time and costs. Applicants will know the result of application via sms within three working days.
Bordin Unakul, SET executive vice president, said: "I strongly believe this cooperation between SET and Bangkok Bank is able to meet demand and boost options for securities holders who are customers of the bank, enabling them to apply and receive dividends via their bank accounts conveniently. This underlines SET’s commitment to match the right financial opportunities for investors and businesses. Currently, there are one million users applying for e-dividend service, up from 900,000 users in earlier this year, accounting for 68.28 percent of more than 1.4 million securities holders in total.”
Tweelap Rittapirom, Bangkok Bank executive vice president, said: "Investors and securities holders now can get dividends via their bank accounts, rather than in the form of checks. This cooperation between Bangkok Bank and SET to develop e-dividend service via ATMs and Bualuang Internet Banking is to increase convenience to investors.