Thai Bankers’ Association considers new fee structure for industry

The Thai Bankers’ Association (TBA), which represents the banking industry in the country, is contemplating the introduction of a new fee structure in response to increasing operating costs. Banks are planning to take into account expenses from traditional and digital banking services while finalising the updated fee structure. This will be done in conjunction with the Bank of Thailand.

The existing fee structure does not reflect these costs and puts banks at a disadvantage, said Payong Srivanich, the president of the association. He stressed that Thailand is the only country worldwide that does not impose a fee for digital payments. Payong, who serves as the chief executive of Krungthai Bank (KTB), mentioned that technological investments, including security systems, resulted in greater costs for the sector.

As a result, Payong predicted that…