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Banks deter cheque users with transaction-fee hikes.
Byline: Darana Chudasri
Feb. 1--Cheque users can expect significantly higher fees as local banks plan to hike transaction charges to encourage customers to switch to electronic fund transfers.
Extra charges will help cut down on paperwork and cash-processing expenses.
Starting from March 6, cheques will cost users 15 baht each, up three-fold from current charges. A single cheque book will now cost 300 baht, up from 100 baht previously.
Teera Aphaiwongse, a senior Bangkok Bank executive and chairman for a Thai Bankers' Association subcommittee on payments, said even with the new charges, banks still bear a loss on cheque processing.
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Source: HighBeam Research, Banks deter cheque users with transaction-fee hikes.