Finance Minister Korn Chatikavanij's vow to scrutinise banks' fees imposed on customers making financial transactions, mostly through ATMs, won considerable backing on social media yesterday.
But despite getting banks' customers on his side, he will surely have a tough time trying to sway bankers on what is fast becoming their bread and butter.
Before he meets leading bankers today in what promises to be quite a showdown, here are some of the initial reactions gathered from tweets to The Nation as well as messages posted on his Facebook page on the banking issue.
@DD4Wheels: 150? for international withdrawal thru ATM is ridiculously high. Downright robbery
@sathornstreet: Banks are not charities but they shld not be robbers either.
@Pakornw: wholeheartedly agree with Khun Korn, bank fees should not create friction in business.
@AmSarosha: The banks pay us petty interest for our savings money. We don't owe them anymore money. Scrap the fees, I say.
@JorisGeeven: I hope it includes cancelling the hefty Bt150 fee for withdrawals using foreign cards, which is scandalous and unfair.
@kanatporn: not protect bank business, but compare to fees ppl pay for Thai post office is higher than bank fees, poor ppl use this service.
@rebel_bay: well, I just don't feel robbed by bank fees and I use ATMs extensively. Maybe there are more urgent issues to consider?
@LisaMajesty: Haven't seen anyone claim responsibility for the fee. Just institutions pointing at other institutions saying 'not our fault'
@karavikar: Is Easy Pass "insurance fee" relevant here? Cuz I filled application and had money out, but when they said Bt1,000 fee, I left.
@oldskooldi: When you have a lot, Bt25 mite not mean much, but when budget is tight every satang counts
The following is feedback on Korn's Facebook page:
Chamsai Menasveta: finally... some justice to the poor downtrodden hardworking people who are always getting robbed. please don't let them win this one!
Pintira Singhalaka: This will be a glorious victory of David over Goliath!!! You are in our prayers.
Phaisit Phianphithak: Talking from perspective of an ex-banker, fee-based income is what already keeps the interest spread down. One way or another, profit has to come from somewhere. To effectively tackle both u need to simultaneously fix the spread and fee-based without reducing competitiveness of the Thai banking system.
Ke Ket: (translation) Help me please. Bank profits are my blood.
Dee Leesakul: (translation) May God bless you.
Nipoj Jakkrawankul: (translation) Can you really do it??????
Mangkorn Sornkam: (translation) My support. But it's no piece of cake what you're dealing with here.
Taweeyos Nakosiri: (translation) When banks suffer losses, tax money is used to shore them up. And they won't make any change to benefit customers.
Kajonsak Suwattanakorn: (translation) A bit late. But better late than doing nothing.
Pick Pickkie: (translation). Banks are saving their time, space and manpower on services. The transactions cost them very little, so they should cost customers nothing or be very cheap.