Bangkok Bank joins Hua Seng Heng to invite young generations to save gold by opening an online account via the GOLD NOW app and linking it with their Bangkok Bank account. Minimum investment starts at 1,000 baht with no service fees until October 31, 2022
April 27, 2022
Bangkok Bank continues its cooperation with Hua Seng Heng to penetrate the younger market by introducing gold savings via the GOLD NOW app that allows direct debit payments from Bangkok Bank savings accounts. Just select the “OM NOW” feature to save gold with a minimum investment of only 1,000 baht. The fees for all transactions are waived from April 27 - October 31, 2022.
Bangkok Bank Director and Senior Executive Vice President Chansak Fuangfu said that the Bank has set its growth strategy for 2022 with a focus on continuously offering financial services to help build and manage wealth for all groups of customers. In addition, the Bank also introduces new investment models that are in line with the market direction and the interest of younger generations who are more interested in investment and ready to learn about various types of investments that will increase their opportunity to generate attractive returns at the appropriate level of risk. Investing in gold is another form of investment that these target customers are increasingly interested in.
Bangkok Bank has continued to work with Hua Seng Heng, a leader in the gold market, to develop financial services that meet the interest of the young generations in online gold investment and saving. Customers can easily buy, sell and save gold on a real time basis. Customers who buy gold can pay and have gold in their portfolio immediately. Those who sell gold will also receive money instantly. Customers can invest in gold via the “GOLD NOW” app starting from 5 baht of gold and no collateral is required. The minimum investment via the “OM NOW” feature is only 1,000 baht. The highlight of the service is convenience and speed. Customers can open an investment account through the facial recognition system and start buying, selling and saving gold immediately. In addition, customers can also choose to receive real gold bars. Customers can also make transactions for gold buying and selling via digital channels anytime anywhere by linking gold buying with their Bangkok Bank account. In addition, new customers can also open e-Savings accounts via Bangkok Bank Mobile Banking as well.
In a special promotion for those who invest in gold via the “GOLD NOW” application by linking it with their Bangkok Bank account, the fees for direct debit payment for gold are waived from April 27 - October 31, 2022.
“The Bank is committed to providing quality financial services to meet the needs of all customer groups including the young generation which the Bank wants to build relationships with as a trusted partner who stands ready to provide continuous financial services as well as offer a variety of investment options to increase their wealth. The Bank collaborates well with Hua Seng Heng which is a longstanding business partner over many years. With the GOLD NOW service, customers will receive an enhanced financial and investment experience that serves as an alternative way to grow their wealth” said Mr. Chansak.
Bangkok Bank and Hua Seng Heng have collaborated over the years to develop gold investment products and services. In 2020, Bangkok Bank and Hua Seng Heng co-developed the Hua Seng Heng USD Gold Trade platform which enables customers to trade 99.99 purity gold bars in USD via the Bangkok Bank Foreign Currency Deposit account for the first time in Thailand. The trade will use the spot gold price to reduce costs and risks from fluctuations in the baht as no currency conversion is required for every trade. This provides greater value and convenience for the investors.
Hua Seng Heng Chief Executive Officer Tanarat Pasawongse said “With the GOLD NOW application, customers can access gold trading more conveniently anywhere in the country and don’t need to queue up like in the past, making it a good choice to cope with gold price fluctuations. The app is easy to use and allows for fast trading which enables customers to receive cash instantly once they sell their gold. The new OM NOW feature has been well received and has helped boost the GOLD NOW app which has increased the gold selling and buying volume. To increase convenience for customers, we worked with Bangkok Bank to provide a gold investment alternative as a safe haven asset to cope with global uncertainties and volatility”.
Key features of the GOLD NOW application include: