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Banks Considering New Fee Structure to Align With Operating Costs


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Posted
  On 5/12/2023 at 3:01 PM, asf6 said:

Can you choose to get notifications by email instead? That's what I get and I don't get charged anything by the bank. If you have access to your email on your mobile phone, an email is as good as an SMS. 

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Good point. To be honest, I don’t know. I’ll check with my bank. 

Posted

Thai banks are a rip off .....  BB charges 300 baht annual fee for ATM card + transaction costs.

Banks in Australia are free now,  they don't charge annual fees or transaction charges ....

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Posted
  On 5/12/2023 at 3:12 PM, bg53 said:

This is a lie.

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bg53 is right, there are no fees for digital transfers in the eurozone for example, but some banks charge their customers monthly just for having an account with them, some charge a fee if you have a total engagement below a certain amount, and some banks in my country charge a fee to customers if they live abroad. At the same time many banks make huge profits.

Posted
  On 5/13/2023 at 12:02 AM, steven100 said:

charges 300 baht annual fee for ATM card + transaction costs.

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Yes… I got charged 300 baht for an account that has no ATM card because type of account (Dierect Deposit) from US Social Security also no internet banking. Called/Emailed them and was told to advise the branch and have the 300 refunded…..

 

Not a problem but one que ticket to do banking and another que ticket for the next set of tellers… 

 

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Posted
  On 5/12/2023 at 11:33 AM, MrMuddle said:

I've never been charged for digital payments in the UK, in the decades they have been available. Nor have I ever been charged for the issue of debit / credit cards which is the norm here.

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On my American credit cards, I get 100% fraud protection, 2-3% cash back reward, at least 25-day interest free loan to purchase stuff. And I also get cash transfer order for one year at 3%. I borrow the money and put it in bonds paying 9%. 

Posted
  On 5/12/2023 at 11:51 PM, Wiggy said:

Good point. To be honest, I don’t know. I’ll check with my bank. 

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I get email notifications and app notifications, free of charge with all Thai banks.

 

SMS is so nineties ????

Posted
  On 5/13/2023 at 12:02 AM, steven100 said:

Thai banks are a rip off .....  BB charges 300 baht annual fee for ATM card + transaction costs.

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Nobody says you have to keep an ATM card. ATM withdrawals from all my Thai bank accounts are through the app, no annual charges for an ATM card, and no risk to lose the card either.

 

My banks in Europe charge me 4 Euro (150 baht) PER MONTH just to have an account, no ATM or credit card attached.

 

And that 4 Euro is the cheapest option. If you want some service, it will be 7 Euro

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Posted

Thailand's always trying to fleece you/everyone. 

 

Fee's are extremely high compared to other countries. 

 

Even my own Bank charges me a fee to use the ATM outside of the province I opened the account.

 

Whatever. 

 

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Posted
  On 5/12/2023 at 11:24 AM, nigelforbes said:

The rationale for adopting ATM's in the 1980's was to reduce branch costs. Today we have ATM fees and increased branch costs.

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The rationale when ATMs were introduced in the UK in the 70s was not to get rid of bank charges altogether and that was 50 years ago.  Today we have increased services and products from the banks and anyone who expect charges to reduce over 50 years or expects free services that cost the banks' money is not being reasonable.

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