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Thai Banks Defend Fees on Card Debt Recovery.

Bangkok Post (Bangkok, Thailand)

| January 07, 2003 | COPYRIGHT 2003 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Darana Chudasri

Jan. 7--Local banks insist that collection fees charged for overdue credit card debt are appropriate based on expenses.

At Thai Farmers Bank, fees of 200 baht are charged against actual expenses of 250 baht, according to first vice-president Porawan Sudsok.

M.R. Pridiyathorn Devakula, governor of the Bank of Thailand, yesterday criticised local card issuers for overcharging customers high overdue fees of up to 380 baht per notice. The central bank will issue a circular this week detailing explicit fees card issuers could charge. "The fact that some banks are charging rates this high is not fair to customers. It's too ...

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Source: HighBeam Research, Thai Banks Defend Fees on Card Debt Recovery.