Thai Commercial Banks Agree On Single Money Transfer Rate

[cardholder]

Banks do not currently charge 12bt for transfers up to 100,000bt as stated. It is usually 10bt for each 10,000bt or part thereof and if to a different bank, even more!

Surely Kasikorn to Kasikorn vi K-Cyber banking is free ?

No Cardholder.

It is the same as using an ATM, although cheaper. If the 2 branches are in different provinces a charge applies.

Money transferred in from overseas, first arrives in Bangkok, and a charge of 20bt is slapped on for transferring to your home branch,. after all the other fees and commission have been deducted.

Then any money transmission service I may wish to offer to resident Falangs should be limited to my home province - chai mai ?

[prakhonchai nick]

Then any money transmission service I may wish to offer to resident Falangs should be limited to my home province - chai mai ?

Not necessarily.

You could always deduct your (transmission fee)

[ableguy]

Commercial banks agreed to impose a single rate of Bt12 for money transfers upto Bt2 million from December 15 onwards, as a result of pressure from the Bank of Thailand. This rate is for local area transfer, not crossing provinces. If you do, it is 10 Baht fee for every 10,000 Baht transfer.

PRECISE AND USEFUL INFORMATION MANY THANKS

[Puccini]

From the news article:

Negotiations on fee reduction on other payment items will be discussed later on including ATM-related fees and BOT's compensation

I wonder what this "BOT's compensation" is about. Wy should the Central Bank, a government institution, collect money from my bank when I transfer money from my bank account to the account of another person or company?