The Thai banking industry has been obliged to reconsider its approach to cash access following a public backlash against plans to introduce new ATM charges.
Following steers from the Bank of Thailand to promote cashless payments, Krungthai Bank (KTB) was the first to announce fees for cardless ATM withdrawals. A wave of complaints that became especially intense across social media prompted them to cancel the plan just a day later.
Bangkok Post cites an anonymous source within the banking industry saying other major banks had been planning to introduce fees, but have frozen their plans following the adverse reaction to KTB’s announcement. Arthid Nanthawithaya of Siam Commercial Bank holding company SCB X says banks will likely await guidance from the central bank.
