TITLE: Thailand's Bank of Thailand Issues Service Fee Standards and Credit Card Business Regulations
BODY:
On June 2, 2026, the Bank of Thailand (BOT) issued two proclamations establishing standardised service fee frameworks and updated credit card business regulations. The proclamations, numbered 23/2569 and 24/2569, were published in the Royal Gazette on June 1, 2026, and became effective immediately upon publication.
Proclamation 23/2569 establishes standardised service fee and service provision criteria applicable to financial institutions and non-bank credit card operators. The BOT identified inconsistencies between service charges and actual costs, noting that some financial products retained unchanged fees despite technological changes that reduced or eliminated underlying costs. Additionally, service fee rates varied significantly across providers, potentially reflecting overcharging or unclear cost calculation methodologies. The proclamation standardises fees for basic financial services including deposit account products, electronic card products, payment transaction products, and small and medium-sized enterprise (SME) credit products. This standardisation aims to align service charges with actual costs, reducing disparities in fee rates and financial burdens for consumers.
Proclamation 24/2569 amends credit card business regulations, specifically modifying fees and charges for cash withdrawals using credit cards. This amendment updates provisions previously established in BOT Notification 11/2563 (dated July 31, 2020).
The BOT emphasises consumer protection by ensuring fair access to financial products and services at appropriate rates, with transparent and sufficient information disclosure to support consumer decision-making. These regulations apply to all licensed financial institutions and non-bank credit card operators conducting business in Thailand. The proclamations represent a significant step toward consumer protection and market standardisation in Thailand's financial services sector.