Financial Supervisory Commission's Peng Jinlong hints: The 15 yuan transfer fee for banks, unchanged for 12 years, may be reduced

Taiwan’s Financial Supervisory Commission Chair Peng Jinlong hinted at reviewing the NT$15 fee for interbank transfers, which has remained unchanged for 12 years, with the possibility of lowering the rate.
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The NT$15 fee per interbank transfer in Taiwan has been maintained for 12 years. During a question session at the Legislative Yuan Finance Committee on the 7th, FSC Chair Peng Jinlong stated there is “reasonable room for discussion,” indicating that the regulatory authority is open to reviewing the fee rate for the first time.

We will consult with financial technology companies to understand whether there is room for adjustment in the current environment, balancing system stability and public burden.

Fixed fee rate versus the doubling of transaction volume

With technological evolution, interbank clearing is handled by the Financial Information Service Co., Ltd., and automation at banks has significantly reduced labor and hardware costs. The marginal cost per transaction should theoretically decrease, but the current fee rate has not been reduced despite volume growth, allowing banks to continue profiting from this revenue for years.

Taking Taiwan Pay as an example, small transfers from NT$1,000 to NT$10,000 have long adopted a zero-fee model, reducing users’ reliance on traditional bank transfer services.

Key points for future observation

If regulatory authorities ultimately decide to lower the fee rate, traditional banks will need to balance reduced transfer income with maintaining system investments. Currently, the FSC has not provided a clear timeline, but the Legislative Yuan has already included this issue in subsequent sessions for follow-up. The pricing that has remained unchanged for 12 years will face scrutiny.