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.
Following the meeting yesterday, Chim Tantiyaswasdikul, assistant governor for information technology., said this should eat into their revenue only about Bt100 million each.
At present, banks charge three rates for the transfers: Bt12 for transfers worth upto to Bt100,000, Bt40 for transfers between more than Bt100,000 to Bt500,000, and Bt100 for transfers of over Bt500,000 to Bt2 million. Negotiations on fee reduction on other payment items will be discussed later on including ATM-related fees and BOT's compensation, Chim said.
Apisak Tantivorawong, president of Krung Thai Bank, said the reduction is acceptable to benefit bank customers.