Bangkok: The Governor of the Bank of Thailand is pushing to revise 10-15 bank fee categories, setting ceilings and establishing a single standard. The move aims to reflect actual costs, with a decision expected within two months. The Governor reiterated that the policy interest rate of 1% is appropriate for the current economic situation, but affirmed the bank's readiness to lower it immediately if the situation worsens.
According to Thai News Agency, Mr. Witai Rattanaporn, Governor of the Bank of Thailand (BOT), revealed the progress in considering adjustments to the fee structure of approximately 10-15 commercial bank service items in order to alleviate the financial burden on the public and create a fairer fee structure. He stated that currently, fees vary among banks due to being determined by each bank's own criteria and lacking true price competition. Therefore, the BOT intends to establish a central standard that reflects the actual cost of providing the service, especially in the era of rapid advancements in financial technology, which has significantly reduced the cost of many transactions. Fees under consideration include statement request fees, account maintenance fees, ATM card issuance fees, interbank transfer or deposit fees, large-scale transfer fees, and interprovincial check clearing fees, among others. A decision is expected within two months.
The Bank of Thailand wants these fees to remain within the established ceiling, not exceeding an appropriate maximum rate. If the initial measures are successful, there are plans to consider extending the fee reduction to other items in the future. However, it acknowledges that this approach is novel and therefore requires time for discussions with commercial banks to strike a balance between consumer protection and managing the costs for financial institutions.
Mr. Witai also commented on the policy interest rate, stating that following the latest Monetary Policy Committee (MPC) meeting on February 25, 2026, which reduced the rate by 0.25% to 1%, this level is appropriate for the current state of the Thai economy. The Bank of Thailand (BOT) assesses that further interest rate reductions in a short period could negatively impact depositors and financial stability. However, if future economic trends change from current assessments or show signs of a more severe slowdown than expected, the BOT is prepared to consider further interest rate reductions immediately to support the economy.
Currently, Thailand's policy interest rate is the third lowest in the world, after Switzerland and Japan, reflecting a relaxed monetary policy aimed at supporting the economy during the transition period.