Logo of Phnom Penh Post newspaper Phnom Penh Post - DeeMoney launches inbound Kingdom to Thailand service

DeeMoney launches inbound Kingdom to Thailand service

Content image - Phnom Penh Post
(Left to right) DeeMoney CEO Aswin Phlaphongphanich, Wing (Cambodia) Limited Specialised Bank CEO Jojo Malolos and DeeMoney managing director Rasmegh Srisethi. THE NATION

DeeMoney launches inbound Kingdom to Thailand service

Thailand-based international money transfer service DeeMoney has announced inbound service to Thailand from Cambodia, according to its press release.

A sizeable population of expats and local business owners in Cambodia are now able to access money transfer services and send money to Thailand faster and without paying hefty fees.

Thai nationals are among the top ten visitor arrivals to Cambodia with 382,317 recorded last year, according to the Thai Business Council in Cambodia.

The strategic partnership allows Wing (Cambodia) Limited Specialised Bank customers in Cambodia to remit transfers using Wing Money app to Thailand with a limit of up to $1,000 per transaction.

Recipients may receive funds in cash from any of the DeeMoney’s four branches in Bangkok or direct bank deposits in local currency. DeeMoney offers local support for tracking transactions using Wing’s transaction ID code.

DeeMoney is the financial services platform of SawasdeeShop Co Ltd. It continues to successfully leverage its omni-channel presence to disrupt the remittance market. Its transparent business model provides an effective alternative for customers who have used traditional informal channels to transfer money.

“We are committed to leveraging cutting-edge technology to improve our customers’ financial transactions. Our Thai and Cambodian customers stand to gain through this partnership. With both cash payout and bank credit options available, we strive for financial inclusion in the market”, said SawasdeeShop CEO Aswin Phlaphongphanich.

Wing CEO Jojo Malolos said the launch of inbound service from Cambodia marks another milestone in their partnership, and it also shows how Wing customers can do so much more via the Wing Money app, connecting Cambodians to the world.

“Through the convenience of Wing Money app, locals as well as expats residing in Cambodia are able to remit to Thailand anytime and the recipient can cash out at any DeeMoney branch or receive account credit at all banks in Thailand,” said Malolos.

The partnership represents two non-commercial bank entities joining hands to provide money transfer services to individuals and businesses in Cambodia.

“With DeeMoney Wing customers can access cash out and account credit modes for money transfers,” Phlaphongphanich concluded.

“Our API integration ability, competitive FX and fee structure makes us an ideal choice for anyone looking to remit funds to or from Thailand.” THE NATION (THAILAND)/ANN

MOST VIEWED

  • Over 100 Chinese nationals to be deported for online scam

    The Ministry of Interior is planning to deport 128 Chinese nationals after they were arrested in Preah Sihanouk province on Wednesday for their alleged involvement in an online money extortion scam. Y Sokhy, the head of the Department of Counter-terrorism and Transnational Crime, told The Post

  • LPG gas explosion injures 13 people, including foreigners, in Siem Reap

    An explosion on Wednesday at a liquid petroleum gas (LPG) car and tuk-tuk refuelling station in Siem Reap city has left 13 people, including an American and a Briton, suffering burns. The seven most severely burned, including a provincial police officer, were sent to a Thai

  • The French mother navigating the capital in her own personal tuk-tuk

    French woman Cecile Dahome gracefully manoeuvres her tuk-tuk through the manic streets of Phnom Penh with the precision of a Japanese katana before a herd of motorcyclists, attempting to perform illegal U-turns, cuts her off. The riders, like baby ducklings following their mother’s tracks,

  • More than 800 people test positive for HIV in 2018

    The National Aids Authority (NAA) said more than 800 people tested positive for human immunodeficiency virus (HIV) last year, joining over 76,000 others aged between 15 and 49 in the Kingdom already infected with the virus. The spread of HIV/AIDS in the Kingdom is showing few signs of