UOB Thailand Waives Credit Card Fees and Interest
UOB Thailand has waived interest and fees for credit cardholders affected by the bank's payment apportionment system. Thousands of customers were impacted due to the transition from Citi Thailand to UOB Thailand. The bank is also canceling the payment apportionment system and increasing call centre staff to address customer issues.
UOB Thailand has waived interest and fees for credit cardholders affected by the bank's payment apportionment system, according to Yuttachai Teyarachakul, the bank's head of personal financial services.
The waiver, completed in response to the transition from Citi Thailand to UOB Thailand, impacts thousands of customers.
The payment apportionment system, which distributed payments across multiple cards and caused interest charges, will be canceled this month.
Customers will soon have the option to select their bill payment dates and make full or revolving payments starting in July.
Vira-Anong C Phutrakul, head of retail and brand, added that the bank increased call centre staff from 500 to 1,500 due to a rise in call volumes.
About 1.2 million Citi cardholders transitioned to UOB Thailand, with 90% successfully migrating to the TMRW mobile banking app.
Despite a 20% drop in credit card spending year-on-year in April due to the transition, spending has rebounded with double-digit growth in the first half of 2024.
The bank expects continued improvement in the second half of the year.
The waiver, completed in response to the transition from Citi Thailand to UOB Thailand, impacts thousands of customers.
The payment apportionment system, which distributed payments across multiple cards and caused interest charges, will be canceled this month.
Customers will soon have the option to select their bill payment dates and make full or revolving payments starting in July.
Vira-Anong C Phutrakul, head of retail and brand, added that the bank increased call centre staff from 500 to 1,500 due to a rise in call volumes.
About 1.2 million Citi cardholders transitioned to UOB Thailand, with 90% successfully migrating to the TMRW mobile banking app.
Despite a 20% drop in credit card spending year-on-year in April due to the transition, spending has rebounded with double-digit growth in the first half of 2024.
The bank expects continued improvement in the second half of the year.
