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. (NNT)
