Banks face rules on service fee calculation

[webfact]

Banks face rules on service fee calculation

The Nation

 

 

The Bank of Thailand will introduce guidelines on service fee calculation by all financial institutes in the third quarter this year, said central bank's assistant governor Thanyanit Niyomkarn, adding that it will lead to fair and reasonable charges.

 

The guidelines will apply to all service fee types and cover all kinds of customers from major corporate customers to individual customers.

 

She said it might affect banks' revenues but will create fair treatment of customers and set a standard for the financial industry.

 

Kiatnakin Bank President Philip Chen Chong Tan said the bank was ready to comply with the guidelines.

 

He added that the guidelines are unlikely to affect revenue as it is a small bank.

 

Siam Commercial Bank's president Apiphan Charoenanusorn believes the guidelines will affect banks but not to the extent that it will lead to zero service fee revenue this year.

 

Naris Sathapholdeja, head of TMB Analytics, said that total service fees of commercial banks last year amounted to Bt191 billion, compared to interest income of Bt480 billion.

 

Source: https://www.nationthailand.com/business/30381782

 

-- © Copyright The Nation Thailand 2020-02-11

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[trainman34014]

Does this mean a lowering of the crazy ATM Fees for using Foreign Cards ?   Just another way of putting off Tourists.

[justin case]

400 baht !!! for a stupid card in krungsri when I had to change to new one... DAMN

[rwill]

1 hour ago, trainman34014 said:

Does this mean a lowering of the crazy ATM Fees for using Foreign Cards ?   Just another way of putting off Tourists.

or they get raised to make up for lost fees from locals....

 

[tomazbodner]

1 hour ago, trainman34014 said:

Does this mean a lowering of the crazy ATM Fees for using Foreign Cards ?

Dream on...

[GreasyFingers]

They (KK) also charge high fees for over the counter withdrawals when you need more that the 30000 per day limit.

[FlorC]

I have to pay 50 B to pay around 1000 B to another bank , or the same bank but in other province ? Ridiculous !

How can a Thai with 300B/day go pay his/her bills if every time you pay an extra 50 B ?

 

When I researched Promptpay , the website said that banks are lowering their fees because of the competition of PP , but that hasn't happened yet.

 

I order something online , it costs only 57 B to have EMS send a box to me 650 km further , but the f'ing bank wants 50 B just for a few computer keystrokes ?? Completely out of wack.

[Scot123]

6 hours ago, justin case said:

400 baht !!! for a stupid card in krungsri when I had to change to new one... DAMN

Why did you pay? Are you not entitled to a free card annually? I'm sure I never paid for my replacement cards at Bangkok Bank. 

[Vacuum]

2 hours ago, FlorC said:

How can a Thai with 300B/day go pay his/her bills if every time you pay an extra 50 B ?

They use cash money (including myself, although not a  Thai)

[Lodestone]

8 hours ago, FlorC said:

I have to pay 50 B to pay around 1000 B to another bank , or the same bank but in other province ? Ridiculous !

Every month I pay my condo rent by using my SCB app to transfer to the condo owner's Bangkok Bank account, and there are no fees. Zero. I haven't paid a transfer fee in two years (and then it was only 20 baht), not since all banks got rid of them, following the lead of SCB and Kasikorn. PromptPay seemed to have precipitated it, though. What are you doing to cause yourself to be charged all these fees?

[sammieuk1]

I bet there will be no change on the woeful FX rate charged on FCD accounts the greedy bankers ???? 

[FlorC]

12 hours ago, Lodestone said:

What are you doing to cause yourself to be charged all these fees?

I don't have a checking account only a savings account. So whether I pay at my bank or at the bank of the receiver , I have to pay cash to send it to the receiver.

Still it is ridiculous to pay at least 50 B for that. (more for larger amounts , even to your own account at the same bank but in different provinces).

I don't have online banking , because I don't trust it , especially in a country like Thailand and because my OS & browser are not supported and in case something goes wrong , I will be blamed.

 

I doubt all Thais have the means to pay online .

How do they pay water and electricity ?

 

 

[BritManToo]

1 minute ago, FlorC said:

I don't have a checking account only a savings account. So whether I pay at my bank or at the bank of the receiver , I have to pay cash to send it to the receiver.

 

I doubt all Thais have the means to pay online .

How do they pay water and electricity ?

All free using the phone app to transfer or pay.

 

I don't know any Thais without a smart phone, my misses usually pays everything using her phone app, I pay my 3bb bills, scan the QR code on the bill screen, press pay.

Edited February 12, 2020 by BritManToo

[FlorC]

Just now, BritManToo said:

All free using the phone app to transfer or pay.

Yes I get that , but nor I or millions of Thais have a phone or a phone with an app to pay like that.

 

I guess somebody has to pay for the many folks "working" at the bank in the very cool expensive aircon.

[BritManToo]

1 minute ago, FlorC said:

Yes I get that , but nor I or millions of Thais have a phone or a phone with an app to pay like that.

You're wrong about the Thais.

 

As for security, you'd need my phone and my fingerprint to make any payments.

And then my phone gets a confirmation SMS about the payment.

Hard to see a way someone else could access my account.

Edited February 12, 2020 by BritManToo

[FlorC]

I don't have a phone and I'm sure a lot of (older) Thais don't have one either.

 

Besides phones are only the last 10 years or so.

Not much has changed in Thai banking since I came to Thailand some 20 years ago.

[jackdd]

On 2/11/2020 at 8:29 AM, justin case said:

400 baht !!! for a stupid card in krungsri when I had to change to new one... DAMN

You could have chosen a cheaper one, or none at all, that's not the fault of the bank.

 

1 hour ago, FlorC said:

I don't have a phone and I'm sure a lot of (older) Thais don't have one either.

 

Besides phones are only the last 10 years or so.

Not much has changed in Thai banking since I came to Thailand some 20 years ago.

Alot has changed in Thai banking, but you refuse to change, so you pay 50THB per transfer.

Edited February 12, 2020 by jackdd