Aeon to Start 7-Eleven Cash Withdrawal Services: Quick Loans to Get More in Debt

 

Aeon card holders, who don’t feel like trying to find one of Aeon’s often difficult-to-find bank counters in Thailand, will soon be able to withdraw cash at almost 7,000 7-Elevens all over the country. Aeon Your Cash revolving loan product cardholders will be allowed to withdraw from between 1,000 to 5,000 baht per time with a 20 baht fee added on. All AEON cardholders have to do is to call an automated Aeon center, wait for a password to be sent via text to their mobile phone, and then go to a 7-Eleven with the password and get their money.

The problem with easy-to-get money like this is, as has happened before, more and more Thais will get into debt they can’t afford  After all, Your Cash is not being used by people to get their own money out of a bank account. Instead, it’s people getting loans of quick cash that take less than a couple of minutes to get yet will take them months to pay back.

Aeon — just another money lender trying to make it easy for consumers to get into debt so they can profit from the high interest rates they charge.