Bank competition on free online transaction sees profit loss of 9 billion baht this year

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Bank competition on free online transaction sees profit loss of 9  billion baht this year 

By Thai PBS

 

 

Commercial banks are set to lose over 9 billion baht in electronic transaction fees this year amid rife competition to draw more customers  with the free online transactions.

 

According to the latest research by Kasikorn Bank Research Center, intense competition that saw local commercial banks foregoing transaction fees on bill payments and other electronic transactions will result in approximately 9 billion baht in loss of income for the entire year.

 

The centre’s deputy managing director Ms Thanyaluck Watcharachai-Suraphon said that the exemption of fees on electronic transaction fees will have a short-term affect on profits although banks will lose 9 billion baht from fees alone.

 

Full story: http://englishnews.thaipbs.or.th/bank-competition-free-online-transaction-sees-profit-loss-9-billion-baht-year/

 

-- © Copyright Thai PBS 2018-03-30

[shady86]

They have been earning too much now. I don't keep my money here.

[JoePai]

In other words they have been scamming the public out of 9bn baht/year  

[NutsMango]

It's not a loss, but just decrease of their fat profits.

 

Banks in Thailand are the true confirmation of being 3rd World.

 

No sir, we can not - why? It say online you can. New rules sir - show me the new rules in writing. Can not sir.

 

I would like xx and yy. Sir, you have to go to the same branch you opened an account (xx/xxx km away). Same company, but not same same.

[cedel]

Now you can transfer Instantly from overseas with very small fée, nearly free with crypto currencies it has not to be bitcoin abdolutely if your thai exchange (Bx)accept other Alt coins... Pm me for more information 

[bushwacker]

Well, I just went to the Kasikorn ATM to take out money and they charged me 15 baht for the transaction.  Moving money baht from one province to another.  So I am not sure what this free stuff is all about.

[djayz]

10 minutes ago, bushwacker said:

Well, I just went to the Kasikorn ATM to take out money and they charged me 15 baht for the transaction.  Moving money baht from one province to another.  So I am not sure what this free stuff is all about.

I believe it's only "online transactions" which are free of charge.

[baansgr]

19 minutes ago, cedel said:

Now you can transfer Instantly from overseas with very small fée, nearly free with crypto currencies it has not to be bitcoin abdolutely if your thai exchange (Bx)accept other Alt coins... Pm me for more information 

Western Union only charge $3 and its one of the best XEs, no need for volatile dodgy crypto

[HAKAPALITA]

I just bough something costing 20k using a Bankok Bank debit card And was told i get 3 monthly payments interest free.No info from the Bank though.


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[Anak Nakal]

Bank lose money? I don't believe!

[KhunBENQ]

Only 10 posts and a complete mixup of all topics banking already

 

This is about online transactions between banks in Thailand.

It's not about ATM withdrawals, it's not about foreign incoming/outgoing transfers and nothing crypto.

If you don't have a Thai bank account with online access simply forget it!

Edited March 31, 2018 by KhunBENQ

[RichardColeman]

22 hours ago, JoePai said:

In other words they have been scamming the public out of 9bn baht/year  

Maybe its to make up some of the difference of giving loans to some Thai people that have no intention of paying it back  ?  

[KhunBENQ]

As announced, Bangkok Bank has now joined and waives the fee for internet transfer.

Just had to do one from Bangkok Bank to K-Bank (see below).

 

The fee for "T-Express" (instant, realtime) is 0.

But the fees for the two other slower options are unchanged

Edited April 2, 2018 by KhunBENQ

[Knocker33]

Put a banking app on my phone yesterday only to find it would not accept any of my details.  So a 30 klm trip into town today to the main branch. After one hour fifteen mins of signing forms and three members of staff trying to sort it out finally got it working.  Oh I forgot to say if it had not been for the security guard who spoke good English I would probably still be sitting there.  I told them they should be paying him part of there wages. So so far behind here 

[shady86]

They are paid to get things done more complicated. That's the system here so everyone gets salary for living.