TBank says more ATMs will boost trading
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Thanachart Bank expects its debit cards will be more competitive after it provides more automatic teller machines (ATMs) and privileges to customers.
Praphan Anupongongarch, an executive vice president, said last week that TBank offers the highest cash back rate in the banking industry at 0.75 per cent of every debit card payment.
Customers are enjoying the promotion, so spending has reached Bt5,000 per card per month.
Spending on its debit cards this year is expected to rise by 10 per cent because of additional benefits such as a fee to fit and a slip for a lucky draw.
Last year, TBank took over Siam City Bank, which enhanced its retail banking business and helped increase its debit cards from 400,000 to 1.4 million. Almost 100 per cent of its debit cardholders are active.
The bank this year plans to issue 500,000 new debit cards. It is trying to persuade each depositor to hold a debit card.
It has 3.5 million accounts with deposits of Bt690 billion.
The merger also boosted its ATMs from 250 to 2,200 units.
The bank has been launching various campaigns to build spending volumes and draw
new cardholders because the debit card business generates healthy fee income from new
card issuance, transactions and ATM fees from other banks.
The bank plans to drive fee income from its ATM/debit cards up by 10-20 per cent this year from Bt700 million last year.
