Thai expat customers of UK-based Barclays bank are reeling from the news that they will be automatically charged 40 pounds monthly (around 1,750 baht) if they fail to maintain a balance of 100,000 pounds in their accounts. The information was relayed this week by email to all Barclays customers overseas. The new rules will apply from June 2022 and replace the former floor level of a minimum 25,000 pounds.
Barclays justifies the decision on the grounds of improving customer services, but the basic cause is the slump in all banks’ profits because of mean or even negative interest rates. The Bank of England confirms that rate is now negligible and is the lowest since the Bank’s foundation 326 years ago. Other UK banks are considering introducing monthly bank charges, even for domestic customers, although the major ones have resisted the temptation to date.
 |
 |
 |
