Bulk Payments

Bulk Payments are transfer of several retail fund transactions at one time to the payee's account opened with other banks according to the customers' orders for supplier payment, payroll, dividend payment, and others via the Bulk Transaction System (BTS) of the Bank.

Types of Bulk Payments
  1. Direct Credit is a retail fund transfer service in which the payee must have an account of the same bank as the payer's bank. Funds can be credited to the account immediately after receiving data from the customer.
  2. SMART Credit (System for Managing Automated Retail Funds Transfer) is a retail fund transfer service in which the payee can use an account of either local banks or foreign banks but must be commercial banks in Thailand only.

    SMART Credit can be classified into 2 types:
    • SMART Credit Next Day: Transaction becomes effective (credited) in another two business days from the day of data submission
      Period Submission of data to the Bank Debit Credit Submission of result report to customers
      Day Timeline
      1 D-2 16.00 pm D-1, 06.00 am D-0, 6.00 am D-0, 13.30 pm

      *D = Effective Date
    • SMART Credit Same Day: Transaction becomes effective on the same day of the day of data submission
      Period Submission of data to the Bank Debit Credit Submission of result report to customers
      Day Timeline
      1 D-2 10.00 am D-0, Real Time D-0, 15.30 pm D-0, 16.30 pm

      *D = Effective Date

  3. BAHTNET is a high value fund transfer service via Real Time Gross Settlement (RTGS) system of Bank of Thailand in which the payee can use an account of either local banks or foreign banks but must be commercial banks in Thailand only and be a member of BAHTNET system.

    Funds can be credited to the account within the same day after receiving data from the customer, but the customer is required to send data to the Bank via Internet before 14.00 pm

Application Process
After the customer has signed the service use application, the Bank will install the BTS for the customer, inform the customer about how to use the system, and test data before the actual use. The process consists of 3 steps as follows:
  1. Prepare Data: The customer uses BTS to import file from the A/P system of the customer.
  2. Approve Data: The customer approves all transactions. (Batch Approval)
  3. Send Data: The customer sends data to the Bank via Internet in the period determined by the Bank, such as transfer of fund transfer/ cheque payment, mainly comprised of the payee's name, the amount of funds, the Bank, effective date (date of account credit/ date on the cheque) and reference number such as invoice number, etc.

Reporting of Results
  1. Completed Transaction Report
  2. Rejected Transaction Report

Benefits
Customers who used to make payments by issuing cheques themselves, paying cash or relying on a manual process (i.e. deposit/ transfer at the Bank's counter with the use of cheques/ cash/ pay-in-slip with the name of payee) will gain the following benefits of Bulk Payments (Direct Credit/ SMART Credit/BAHTNET):
  1. Reduce payment steps. The Bank's electronic system will handle the payment process according to the customer's order.
  2. Save time and operating costs. If the payee is allowed to pay fees, more costs can be saved.
  3. Increase efficiency in the customer's business. There will be more time for management of other tasks as the payment system is fairly flexible. Rights of users and approvers can be determined on the system and are in accordance with the customer's payment order conditions. The system is also easy to use.
  4. Enable security and monitoring with the report on payment confirmation and rejected transactions. There is thus evidence for confirmation with payees.
  5. Enable security with encryption and User ID & Password of the user of the electronic system of the Bank.


Conditions
  • Maximum amount of funds per transaction: 2,000,000 Baht. In case that this limit is exceeded, it must be counted as a new transaction. Otherwise, the customer will have to use BAHTNET instead.
  • Maximum amount of transactions per Bulk per day: Unlimited
  • Minimum amount of transactions per Bulk: Unlimited
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