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Published on January 17, 2008

Tisco ATM cards can used at ATMs of all banks to withdraw cash or make money transfers free of charge.

However, customers will have to pay fees for updating their accounts at non-Tisco ATMs, paying Bt3 per transaction, said its head of retail banking Sakchai Peechapat.

Bangkok Bank recently increased its charges on the use of its cards at other banks once they exceed the maximum four free sessions. Its fee has jumped from Bt3 per transaction to Bt5, effective December 1 last year.

Sakchai said Tisco Bank could absorb charges for its customers because they remain a small number. At the same time, because it has only 28 ATM machines in the country, its operating expenses are much lower than for bigger banks.

Tisco customers can use their cards at all 33,000 ATMs countrywide under a pool system with other banks. The mid-sized bank plans to open 22 outlets this year, which would also increase its ATM machines by the same number.

Tisco yesterday launched a new deposit product with a special interest rate. The bank will offer a maximum rate of 3 per cent and 3.4 per cent for a 8-month fixed deposit and 12-month fixed deposit respectively.

To qualify for the rates, savers must deposit at least Bt1 million.

Somruedi Banchongduang

The Nation