BoT urging commercial banks to eliminate fee for money transferring within the same bank

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BANGKOK, 7 January 2013 The Bank of Thailand (BoT) is urging for a unified code of conduct among commercial banks not to charge their customers for transferring or depositing money between different accounts of the same bank simply because they were opened at different branches.

According to the report, the BoT is set to enter talks with commercial bank representatives and those involved in the banking sector to eliminate the stiff fee imposed on clients transferring to or depositing money in different accounts opened at another branch of the same bank .

Currently, according to the BoT, some banks continue to charge their clients exorbitant fees for the service. It added that there is no reason to impose such a fee given the transaction remains under the same bank anyway. .