Are you tired of being at the mercy of banks when you move money? You may live in Thailand, but no doubt you want to send funds for bills, expenses, and your family all over the world. So, why does it feel like your money is shackled to your Thai bank account? And why is the cost of releasing it so high?
In today’s society where we can live and work practically anywhere, moving money should be frictionless. But so often it isn’t.
High exchange rates, exorbitant bank/transaction fees, and hidden charges all work to cripple our hard-accumulated funds the minute we even consider sending money abroad. Sending money out of Thailand is both challenging and expensive—everyone’s least favorite combination of factors. Repeat an exchange transaction more than once, and you may as well gift wrap your money for the bank with a bow.
We know you’re not alone with these frustrations too. Members of expat forums for cities all over Thailand see the oft-repeated question time and again, “What’s the best way to send my money abroad?” Because to date, there hasn’t been a cost-effective, transparent solution available.
SWIFT transactions—which are anything but—are expensive, just like Western Union. Thai Bank transfers for foreigners involve tedious forms and multiple document verification followed by a three-day wait just to attach an international account to your personal one. That’s before you then suffer the high exchange rates and processing fees of up to, and beyond, 1300 THB. Attaching a business account—don’t bother trying.
Sure, it’s free to send money through PayPal, but your recipient loses out on a significant chunk at the other end thanks to the company’s high commission charges which take some finding on their website. Payoneer’s ‘Global Payment Service’ is yet to include THB. So first, you need to exchange your money before you can ACH it across to another country. And TransferWise doesn’t offer the capability to upload THB. (Yes, you can trade THB, but you can’t add it to your balance—even with the new borderless account.)
But what am I telling you this for? You know all this already and have chalked up the frustrations to “This Is Thailand.”
There is, however, a new solution. At the top of Soi 8 on Sukhumvit Road is the headquarters for DeeMoney. With just one form of ID, you can register to become a member in a matter of moments. DeeMoney is the ONLY non-bank in Thailand to hold the required special international money transfer and money exchange licenses, issued by the Bank of Thailand, for moving THB abroad. We cater to 5000+ customers already.
Launched in July 2018, DeeMoney is partnered with Moneygram for global distribution. We also leverage direct partnerships for countries outside of the Moneygram network to ensure customers can send money to 16 countries as swiftly and easily as possible. For these 16 countries, we charge a single FLAT fee of 150 baht for ALL transfer amounts. Which means you can send up to 800,000 THB and still only pay 150 THB for the opportunity.
Compare this with other companies and banks mentioned above which stagger rates the more you wish to send, and the savings become astronomical.
In addition to ease of registration, there’s also a DeeMoney app available on Android and from the App Store. The app works with KPlus linking quickly and easily to your Thai bank account or you have the option to pay for your transfer through a QR Code too. Now you can send money abroad anytime, anywhere all from your phone. There’s no need to log on to a laptop to make an international bank transfer—consider that a thing of the past.
The 150THB FLAT rate is for transfers to Australia, Bangladesh, Cambodia, India, Indonesia, Malaysia, Myanmar, Nepal, New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, the UK, the US, and Vietnam.
No hidden charges. No high exchange rates. No additional transaction fees. Everything is as clear as Dee.
DeeMoney, what are you waiting for?