Popular Post snoop1130 Posted May 12, 2023 Popular Post Share Posted May 12, 2023 BANGKOK (NNT) - A new fee structure is being considered by banks to reflect operating expenses for both physical and digital banking services. Payong Srivanich, president of the Thai Bankers’ Association (TBA), disclosed that bank members are discussing a new fee structure that is more aligned with actual operating costs than the current structure. He emphasized that there are greater costs for branch services but banks do not charge fees for this channel while underlining that Thailand is the only country in the world that does not charge a fee for digital payments. The TBA president also cited higher costs from security and technology investment to ensure safety for its clients. He said the TBA will discuss with the Bank of Thailand and consider all factors before finalizing the new fee structure. The TBA president stated that, while the new structure would result in increased fees for customers, all parties will ensure that clients pay them at a reasonable price and that banks can balance the fees throughout all channels. This would allow for an easier transition from a cash-intensive to a cashless society in the future. Source: https://thainews.prd.go.th/en/news/detail/TCATG230512114314920 -- © Copyright NNT 2023-05-12 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information. 3 1 4 Link to comment Share on other sites More sharing options...
Popular Post John Drake Posted May 12, 2023 Popular Post Share Posted May 12, 2023 (edited) 3 minutes ago, snoop1130 said: Payong Srivanich, president of the Thai Bankers’ Association (TBA), disclosed that bank members are discussing a new fee structure that is more aligned with actual operating costs than the current structure. Blatant attempt to hornswoggle customers out of their money. Edited May 12, 2023 by John Drake 10 1 3 Link to comment Share on other sites More sharing options...
Popular Post nigelforbes Posted May 12, 2023 Popular Post Share Posted May 12, 2023 The rationale for adopting ATM's in the 1980's was to reduce branch costs. Today we have ATM fees and increased branch costs. Now we're going digital and there's going to be a digitial charge because of the increased costs. Everyone bend over and take your punishment for using a bank account. 9 4 1 Link to comment Share on other sites More sharing options...
Popular Post timendres Posted May 12, 2023 Popular Post Share Posted May 12, 2023 13 minutes ago, snoop1130 said: This would allow for an easier transition from a cash-intensive to a cashless society in the future. Hoping Thais are smart enough to insist that cash remains king. 8 6 1 Link to comment Share on other sites More sharing options...
Popular Post MrMuddle Posted May 12, 2023 Popular Post Share Posted May 12, 2023 (edited) 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. Don't the Banks make enough from their customers, with the extremely low interest rates, and high loan / mortgage repayments? Beware the cashless society, designed to remove control of their own money, from ordinary people. Edited May 12, 2023 by MrMuddle added comment 12 1 7 3 Link to comment Share on other sites More sharing options...
Popular Post Wiggy Posted May 12, 2023 Popular Post Share Posted May 12, 2023 (edited) 2 hours ago, 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. Don't the Banks make enough from their customers, with the extremely low interest rates, and high loan / mortgage repayments? Beware the cashless society, designed to remove control of their own money, from ordinary people. I concur. I have a bank account in the UK and never get charged for any transaction (digital or physical) whatsoever. And I don’t get a monthly charge for notifications by SMS of transactions on my account, which Thai banks do. Edited May 12, 2023 by Wiggy 3 3 Link to comment Share on other sites More sharing options...
Popular Post jaywalker2 Posted May 12, 2023 Popular Post Share Posted May 12, 2023 Just as I was predicting 3 2 Link to comment Share on other sites More sharing options...
Popular Post RandiRona Posted May 12, 2023 Popular Post Share Posted May 12, 2023 Yes it really is expensive to keep people money who give it for free and charge them to have access to their property while at the same time treating them like <deleted>... PS... Dirty Falangs are ripe for exploitation. You can charge them whatever you want under constitution and court protection. Healthcare and Tourist Industry is doing it for years!!! 2 1 4 Link to comment Share on other sites More sharing options...
Popular Post asf6 Posted May 12, 2023 Popular Post Share Posted May 12, 2023 32 minutes ago, Wiggy said: I don’t get a monthly charge for notifications by SMS of transactions on my account, which Thai banks do. 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. 1 2 Link to comment Share on other sites More sharing options...
Popular Post bg53 Posted May 12, 2023 Popular Post Share Posted May 12, 2023 3 hours ago, snoop1130 said: Thailand is the only country in the world that does not charge a fee for digital payments This is a lie. 5 1 6 1 Link to comment Share on other sites More sharing options...
Popular Post ikke1959 Posted May 12, 2023 Popular Post Share Posted May 12, 2023 Can they explain what the costs are?? there is almost no bankoffice anymore, almost everything is paid by phone or card, atm machines are less available.. Not only here in Thailand but all over the world.. and the profits are sky high...... 4 1 Link to comment Share on other sites More sharing options...
Popular Post Puccini Posted May 12, 2023 Popular Post Share Posted May 12, 2023 1 hour ago, bg53 said: This is a lie. I agree, it is a blatant lie. 4 2 Link to comment Share on other sites More sharing options...
Popular Post mania Posted May 12, 2023 Popular Post Share Posted May 12, 2023 (edited) 10 hours ago, snoop1130 said: Payong Srivanich, president of the Thai Bankers’ Association (TBA), disclosed that bank members are discussing a new fee structure that is more aligned with actual operating costs than the current structure Banks take customers deposits & loan 9x that to mortgages etc (fractional reserve banking system) So the higher interest they generate on that alone should cover any & all bank costs considering the comparatively pittance in savings interest they give depositors for the use of their money to make those loans & generate bank income. Banks forget they are just the jockey not the owner of the horse Edited May 12, 2023 by mania 2 1 4 Link to comment Share on other sites More sharing options...
Popular Post jacko45k Posted May 12, 2023 Popular Post Share Posted May 12, 2023 I suggest that those with a balance of 800,000 baht and over get free banking to reflect their honest approach to retirement extensions! 1 1 3 Link to comment Share on other sites More sharing options...
Popular Post hotchilli Posted May 12, 2023 Popular Post Share Posted May 12, 2023 12 hours ago, snoop1130 said: A new fee structure is being considered by banks to reflect operating expenses for both physical and digital banking services. Drop your trousers and yes it's going to hurt. 1 2 Link to comment Share on other sites More sharing options...
Wiggy Posted May 12, 2023 Share Posted May 12, 2023 8 hours ago, 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. Good point. To be honest, I don’t know. I’ll check with my bank. Link to comment Share on other sites More sharing options...
steven100 Posted May 13, 2023 Share Posted May 13, 2023 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 .... 2 Link to comment Share on other sites More sharing options...
Pdib Posted May 13, 2023 Share Posted May 13, 2023 11 hours ago, bg53 said: This is a lie. 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. Link to comment Share on other sites More sharing options...
quake Posted May 13, 2023 Share Posted May 13, 2023 Robbers. On the rob again. Greedy sods. TIT. 1 1 1 Link to comment Share on other sites More sharing options...
metisdead Posted May 13, 2023 Share Posted May 13, 2023 A post with a trolling video using profane language has been removed. 1 Link to comment Share on other sites More sharing options...
Popular Post joloit Posted May 13, 2023 Popular Post Share Posted May 13, 2023 Beginners rob banks, professionals open up a banks. ???????? 1 2 Link to comment Share on other sites More sharing options...
DJ54 Posted May 13, 2023 Share Posted May 13, 2023 9 hours ago, steven100 said: charges 300 baht annual fee for ATM card + transaction costs. 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… 1 1 Link to comment Share on other sites More sharing options...
CartagenaWarlock Posted May 13, 2023 Share Posted May 13, 2023 23 hours ago, 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. 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%. Link to comment Share on other sites More sharing options...
Lee65 Posted May 13, 2023 Share Posted May 13, 2023 20 hours ago, bg53 said: 23 hours ago, snoop1130 said: Thailand is the only country in the world that does not charge a fee for digital payments This is a lie. Is it, dramatically, "a lie" or is it just "wrong". Link to comment Share on other sites More sharing options...
BenStark Posted May 13, 2023 Share Posted May 13, 2023 11 hours ago, Wiggy said: Good point. To be honest, I don’t know. I’ll check with my bank. I get email notifications and app notifications, free of charge with all Thai banks. SMS is so nineties ???? Link to comment Share on other sites More sharing options...
BenStark Posted May 13, 2023 Share Posted May 13, 2023 11 hours ago, steven100 said: Thai banks are a rip off ..... BB charges 300 baht annual fee for ATM card + transaction costs. 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 2 1 Link to comment Share on other sites More sharing options...
MrJ2U Posted May 13, 2023 Share Posted May 13, 2023 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. 1 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted May 13, 2023 Share Posted May 13, 2023 On 5/12/2023 at 6:24 PM, 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. 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. 2 2 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted May 13, 2023 Share Posted May 13, 2023 (edited) 20 hours ago, ikke1959 said: there is almost no bankoffice anymore Complete nonsense, why would you post such a lie? The main Thai banks combined (that foreigners normally deal with) have, literally, thousands of branches. Edited May 13, 2023 by Liverpool Lou 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted May 13, 2023 Share Posted May 13, 2023 14 hours ago, mania said: Banks forget they are just the jockey not the owner of the horse And customers need to remember that, without the jockey, that horse is going nowhere. 1 Link to comment Share on other sites More sharing options...
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