TMB Bank to help SMEs – waives transaction fees, launches TMB SME Business Account

TMB Bank Pcl, today announced the launch of TMB SME Business Account, an interest-bearing current account featuring unique privileges to help small-and-medium-sized business enterprises (SMEs) and individual small business entrepreneurs save on their banking costs by waiving many transaction charges, as well as answering business needs.

          TMB Bank Chief SME Banking Officer Mr. Sayam Prasitsirigul said, “The launch of the new TMB SME Business Account is a part of our strategy to expand our SME customer base and we are targeting to add around 55,000 new SME accounts by the end of this year as a result of this programme”.

          “SME’s are among the most severely affected by the current economic situation and they have told us that they need to do everything to reduce their operating costs. To better serve our SME customers during this time we are reducing their banking costs as well as offering a wide range of financial solutions that meet their daily business needs. This will strengthen our relationship with our existing SME customers as well as help us to win many new customer.” he said.

          TMB SME Business Account is an extraordinary current account that pays interest on credit balances calculated at the bank’s current deposit rate. A customer opening a TMB SME Business Account will receive 40 free cheques valued at Bht 600 and a TMB SME Privilege Card which they can show at the bank’s counters to have many transaction fees waived. Typically, the service fees are waived for inter-region cheque collection, inter-region cheque withdrawal, money transfers between the bank’s head office and all branches in Bangkok and upcountry (Money Transfer by Online System), as well as money transfers from a TMB account to a beneficiary’s account with another commercial bank in Thailand (Money Transfer by Bahtnet). They are also provided a complimentary account movement alert service via SMS alert and internet access.

          Mr. Sayam said, “Each transaction carried out by SMEs comes with a cost of bank charges and they may not be aware how much these transactions cost them annually. TMB SME Business Account is designed to help SMEs save on banking expenses by waiving transaction fees to keep business costs down in the current economic situation. The product also offers a complete range of business solutions in a single account to provide SMEs with additional convenience.”

          Interested persons can contact TMB Phone Banking at 1558, TMB SME Business Centres or at any TMB Bank branch nationwide to obtain additional information.

          In April 2009, TMB Bank launched “TMB SME 3 Times Credit” to provide SMEs with an overdraft facility that has a credit line of up to three times the value of the collateral. The loan is provided for SMEs with asset valued at up to Bht 200 million (excluding the value of land plots), and with an annual turnover of between Bht 50 million and Bht 500 million.

          Photo caption

          Photo shows TMB Bank Chief SME Banking Officer Mr. Sayam Prasitsirigul launching the new TMB SME Business Account. He is shown holding the TMB SME Privilege Card that entitles account owners to waivers on banking service charges on many transactions. The new TMB SME Business Account has been launched by TMB Bank to help expand the bank’s SME customer base by 55,000 new accounts within this year by helping SMEs to reduce their routine banking expenses as well as providing them other benefits.
          
          For further information please contact:
          Paradai Theerathada
          Tel: +662 299 1126-7
          Email: paradai.the@tmbbank.com or
          Tel: +66 2 299 1061
          pr@tmbbank.com
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