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To receive the digital wallet of 10,000 baht, the funds will be sourced from the Bank for Agriculture and Agricultural Cooperatives (BAAC) and the central budget for the years 2023 and 2024. This initiative aims to distribute the funds to over 50 million people aged 16 and above.
On April 10, 2024, Prime Minister Srettha Thavisin held a press conference regarding the outcome of the meeting on the 10,000 baht digital wallet policy.
Eligibility Conditions:
- The target is over 50 million citizens aged 16 and above.
- Annual income must not exceed 840,000 baht.
- Savings must not exceed 500,000 baht.
Spending Conditions:
- Citizens must spend the funds at stores within their district, specifically small stores designated by the Ministry of Commerce.
- There are no location or size restrictions for stores. The funds can be spent multiple times, but must be used for all types of goods except for vice goods, online products, and fuel.
- The system will be developed by the Digital Development Office in collaboration with the DE Ministry to create a super app, allowing transactions with other banks.
Store Eligibility for Withdrawals:
- Stores must be within the tax system, including VAT-registered entities and individuals.
- Cash withdrawals are not immediate and can only be made after the second round of spending to reduce fraud and stimulate the economy.
Implementation Timeline:
- Citizens will join the program in the third quarter of 2024 and start spending in the fourth quarter of 2024.
- A subcommittee will be established to monitor compliance, chaired by the Deputy Commissioner of the Metropolitan Police Bureau, with the Cyber Police Commissioner as the vice-chair.
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