Banks go backwards
Re: "Web banking fiasco", (PostBag, Aug 22).
Given the relentless drive by banks to push customers not to visit branches and instead to rely on the "convenience" of a banking app, imagine my surprise to be now encouraged by Kasikorn Bank to use cash for large transactions.
Just last week, I had the pleasure of withdrawing, at my local branch, several hundred thousand baht of my hard-earned money. I then carried the weighty envelope across the lobby of my office building to the branch of another local bank, where I deposited said funds.
At this point, I should point out that it was not originally my intention to eschew a single, traceable, online interbank transfer. In the past, I have used my KBank app, such as when, in March, I made a single transfer of several hundred thousand baht to complete a car purchase.
However, Kasikorn has now decided that a rather modest daily limit of 50,000 baht for all online transactions is sufficient for my banking needs.
When I queried this with the bank's call centre, I was informed that this is a new policy but that it was possible to request an increase, via the call centre, although this would require two days' consideration, and any new transfer limit would be valid for just 30 days.
Deliberations aside as to how any bank feels able to determine the "needs and circumstances" of a customer, a system that prevents transfer of larger sums via a banking app de facto encourages use of cash in payment for goods and services -- a stimulus for the informal economy, to be sure, but counter to the government's efforts to promote electronic payments as this facilitates tax revenue collection.
And what happens should an unfortunate customer find him or herself in urgent need to pay a bill above their preset limit?
It is not uncommon for local private hospitals to require a deposit prior to admission in cases where the patient is uninsured: if at death's door, making multiple transactions gradually or visiting a branch is unlikely to be practicable.
Perhaps the commercial banks can, at the very least, adjust their policy on temporary transfer limit increases to make decisions immediate and automatically approved, even if only for 30 days, much as with requests for a temporary credit card limit increase.
Konfused Kustomer
