Bangkok--10 Jul--TMB
Reinforcing its position as an innovator that Makes THE Difference through it’s transactional banking services
TMB Bank again reinforces its Make THE Difference philosophy by eliminating inter-region transactional fees including deposits, withdrawals, cash and cheque transfers between TMB accounts across all regions nationwide, via all banking service channels. The move which is effective for basic savings and current account holders starts on July 1, 2013.
TMB’s Chief Executive Officer Boontuck Wungcharoen said : “The competitive environment in banking has substantially changed since TMB adopted its customer-centric approach and launched successive innovative banking products and services to substantiate our “Make THE Difference” philosophy. To name a few, TMB’s No Fee Deposit Account, No Limit Debit Card and Free Flow Deposit Account offer benefits that had never been available before to customers, but now customers realize they cannot live without. Our One Bank One Account helps commercial customers save on business transaction fees especially inter-region cheque collection; the No Slip service provides greater convenience for customers when making counter deposits or withdrawals without having to fill in forms. These are a testament to our non-stop effort to respond to our customers’ needs. They also reinforce our market focus of providing the best transactional banking services.
“TMB is constantly exploring our customers’ needs and found that inter-region fund transfer fees between TMB’s own accounts is another area that we can really Make THE Difference in serving our customers. We started improving our internal process and operating systems to accommodate the change and reflect our view that all customers are TMB customers, not just customers of a particular branch. When you become a TMB customer, retail or commercial, all of our basic banking services from all branches and on all channels are available to you: be it a counter transaction, an ATM transaction, Internet banking, mobile banking - without being charged any fees when making inter-region fund transfers to other TMB accounts. In addition to the ’no inter-region fee’ benefits via all TMB channels, there is also the added advantage of not having any limit on the maximum amount or number of transactions.”
TMB’s latest offer is in line with the policy of the Bank of Thailand to encourage commercial banks to reduce inter-region fund transfer fees between accounts of the same bank. Thus far, most other banks have only reduced fund transfer fees via electronic channels.
According to Mr. Boontuck the ‘no transfer fee’ for basic banking is beneficial to all TMB customers. Whether they are customers regularly sending money to their families in the provinces, ME by TMB customers transferring money between accounts in different regions nationwide and savings accounts, TMB customers in the provinces making payments for purchasing mutual funds under TMB Asset Management, customers making frequent trips out of town or being posted to different regions conveniently being spared the need to open new accounts with every move, TMB customers involved in online marketing in which sellers and buyers can easily and conveniently carry out transactions between TMB accounts with zero transfer fees or business owners that need to do inter-region cash transfers or cheque collections, inclusive of cheques from TMB and other banks. Business customers not only save money on transaction fees but will receive a complimentary cheque book for each purchase of a new one.
“The benefit enhancement offered to customers not only reinforces our market leadership and supports our policy, but also satisfies our customers’ needs to a level never seen before in the banking sector. From our customers’ perspective, this savings easily multiplies several times the total interest received on a savings account, of which interest rates are currently set at 0.125% per annum”, said Mr. Boontuck.
For customers who need to transfer funds to other banks, TMB also offers a variety of products and services that focus on saving on inter-bank transaction fees, such as TMB Free Flow, No Limit Debit Card, No Fee Account and One Bank One Account, he added.