On Oct. 12, Thai CB issued mandatory standards for SFI fees.
Thai CB issued Cir 6149/2569 to introduce Nt 53/2569 on mandatory fee and service standards for all specialized financial institutions (SFIs).
The standards cover deposit accounts, electronic cards, payment transactions, and SME lending, requiring fair, transparent, and cost-based fees.
Deposit Services
Deposit fees are capped at THB 100 for paper statements and financial-status certificates, while electronic statements covering up to 12 months must be free.
Dormant-account maintenance fees are capped at THB 20 monthly for accounts with balances of THB 2,000 or less and inactivity exceeding one year.
Electronic Cards
Basic ATM and debit card initial and annual fees combined are capped at THB 150 and THB 200 per year, respectively.
Cross-region payment fees are generally prohibited, except for certain branch cash transactions capped at 0.05%, while same-day bulk payment transfer fees are capped at THB 20.
Commission in lieu of exchange is capped at 0.125%, with minimum and maximum fees for individuals and SMEs limited to THB 300 and THB 2k, respectively.
Electronic BAHTNET transfers initiated by individuals or SMEs are subject to a combined sender-and-recipient fee cap of THB 100 per transaction.
SME Lending
SME loan front-end fees are capped at 2.5%, with an additional THB 250k cap for facilities up to THB 15mn.
SME term-loan extension and revolving-credit renewal fees are prohibited unless additional credit is granted, in which case fees may apply to the increased amount.
SME term-loan prepayment fees are capped at 3% of outstanding principal and prohibited once both principal repayment and elapsed repayment-period thresholds exceed 50%.
SME loan cancellation fees are prohibited where commitment or fund-reservation fees have already been charged or the customer has drawn down any portion of the facility.
General Compliance Requirements
SFIs must not offset reduced fees by increasing other charges or interest rates without documented justification.
In addition, must ensure accurate, complete, and transparent fee disclosures.
