Transcript of the above video: 

As the title of this video suggests, we are discussing possible changes and what we do know is definite scrutiny on banking fees here in Thailand. 

I actually thought of making this video after reading a recent posting on X from the Bangkok Post @BangkokPostNews under the headline if you will: Thailand Central Bank is pushing to standardize retail banking fees. Quoting directly: "Thailand Central Bank is pushing to standardize retail banking fees and remove charges for cross-province deposits, withdrawals, and transfers. The Bank of Thailand says these fees are harder to justify as operating costs fall with improved technology and digital services. The initial phase would cover about 10 to 15 fee items. It focused on transaction charges with some fees linked to small and medium-sized Enterprise loans, with possible ceiling rates for certain fees and a public hearing planned." I urge those who are watching this video, you can check that out by going over to Twitter and following the link over to Bangkok Post to read more. 

My biggest concern in all of this is what it's been for over a year now especially since the OECD has popped its ugly head up and has been trying to impose what I would call undue influence on Thailand. I don't think OECD is particularly necessary for Thailand. If anything, I think Thailand can handle her own banking matters. But that said, it worries me that again they are going to say well "we are getting rid of some fees". Does that mean the service goes along with the fee? That would be my first question, or should the headline read "hey, analog services being sort of phased out" rather than "oh we are getting rid of some retail banking fees." It's hard to say; remains to be seen. Overall, I think it is probably a good thing. Again, justifying some of these banking fees, especially in light of digital technology being what it is, I see the point. That said, increasingly we are just moving to a banking system that I think long term this is probably a bad thing for Thailand, and I've talked about this at length, the banking system here was pretty nice, that's why people liked to put their money in Thailand and now they put on these caps for digital transfers, all sorts of biometrics associated with dealing with Banking, and now we are seeing again, okay, they are maybe reducing fees, but does that mean they are also going to be reducing analogue style and type services. 

Again, it remains to be seen, but overall I have got to be honest with you - and I don't mean to sound cynical - but maybe cynicism is sort of in my blood and after the past year with regard to banking, in my mind cynicism is maybe just reality with the volume up. I get a little uneasy when I see any changes happening in banking at the moment. That said, it remains to be seen exactly how this plays out, so we will certainly be keeping you updated on this channel as the situation evolves.