Transferring high amounts vs low amounts more often

[Kwasaki]

2 minutes ago, Pib said:

Thai bank "sending fees" will range from approx Bt350 to Bt1,200.  Will be on the lower range if you select the sending option of the Thai bank not covering an correspondent/intermediary bank fees that may occur along the way to the receiving bank.

I only ask because I'm looking for something simple to do, having trouble understanding sending money via Deemoney, I have to get online banking with Bkk bank and their QR thingy and scanning thing I've never done.

[Kwasaki]

Western Union will transfer money from Thailand for 99 baht online.

[Pib]

Just now, Kwasaki said:

I only ask because I'm looking for something simple to do, having trouble understanding sending money via Deemoney, I have to get online banking with Bkk bank and their QR thingy and scanning thing I've never done.

QR/Bar Code scanning and paying is so...so....so....so....easy and fast.   With the exception of my Bangkok/MEA water bill which I can not pay via mbanking/ibanking (I pay it at 7-11) I pay all my monthly reoccurring bills like electric, mobile, internet, landline, etc.  that show-up in my mailbox via QR/Bar Code payments. 

 

Just open the Bkk Bk mbanking app (or other Thai bank mbanking app having QR code payment capability)....scan the bar/QR code on the bill which has all the bill info encoded in the bar/QR code....a few clicks & seconds later it's paid....much faster and easier than using ibanking. 

 

Counting the time to open the bill envelope, get the bill out, scan the bar/QR code, and make a few clicks on the mbanking app, I can complete a bill payment in less than a minute. 

 

QR code funding of DeeMoney transfers is same-same so....so....so....easy.  The last step of any  DeeMoney transfer via their browser website or app is selecting the payment method....if selecting QR code payment method a QR code appears on the screen/display....you scan that code with your mbanking app...make a few clicks...and the transfer is immediately funded....the funds are transferred to DeeMoney in milliseconds....the transfer can now begin it's trek to your recipient.

 

[Kwasaki]

1 hour ago, Pib said:

The last step of any  DeeMoney transfer via their browser website or app is selecting the payment method....if selecting QR code payment method a QR code appears on the screen/display....you scan that code with your mbanking app...make a few clicks...and the transfer is immediately funded....the funds are transferred to DeeMoney in milliseconds....the transfer can now begin it's trek to your recipient.

Thanks sorter taking it in easier now, so I will get my Bkk bank branch QR mbanking app.

 

I have Deemoney app on my mobile set up already. 

So I go Deemoney on my mobile and give details of everything of my son UK bank account which is on there list of UK banks.

Select QR payment method.

Scan QR code with my mbanking Bkk bank app.

Click and money goes out my Bkk bank account to Deemoney and then they send to sons UK Bank account.

 

So I can send 300,000 baht just like that then.?

Deemoney sent me a car for Bank Account Credit did you get one.? 

 

 

Edited May 22, 2019 by Kwasaki

[Pib]

4 hours ago, Kwasaki said:

Thanks sorter taking it in easier now, so I will get my Bkk bank branch QR mbanking app.

 

I have Deemoney app on my mobile set up already. 

So I go Deemoney on my mobile and give details of everything of my son UK bank account which is on there list of UK banks.

Select QR payment method.

Scan QR code with my mbanking Bkk bank app.

Click and money goes out my Bkk bank account to Deemoney and then they send to sons UK Bank account.

 

So I can send 300,000 baht just like that then.?

Deemoney sent me a car for Bank Account Credit did you get one.? 

 

 

You could use QR payment to send Bt300K "if" your Bkk Bk mbanking allows that much per payment.  I expect the default is set to Bt50K (which is more than enough for typical monthly payments/buys at stores) but you can get that raised by going to your branch....the mbanking app tells your limits and how to get the limits raised if desired.   No different that Bkk Bk debit card limits set for withdrawals or purchases....you can raise or lower both via telephone or at an ATM.  But to change mbanking limits you need to visit your branch.  

 

You could also see up Direct Debit to fund the transfer....the DeeMoney website talks how.  Once again you would need to check with Bkk Bk to see what limits apply for Direct Debit.

Edited May 22, 2019 by Pib

[Kwasaki]

1 hour ago, Pib said:

You could use QR payment to send Bt300K "if" your Bkk Bk mbanking allows that much per payment.  I expect the default is set to Bt50K (which is more than enough for typical monthly payments/buys at stores) but you can get that raised by going to your branch....the mbanking app tells your limits and how to get the limits raised if desired.   No different that Bkk Bk debit card limits set for withdrawals or purchases....you can raise or lower both via telephone or at an ATM.  But to change mbanking limits you need to visit your branch.  

 

You could also see up Direct Debit to fund the transfer....the DeeMoney website talks how.  Once again you would need to check with Bkk Bk to see what limits apply for Direct Debit.

Thanks so much for your help I just want to make sure the money is secure so I can get things done now, 300,000 is 6 x 150 baht payments = 900 baht if I decide to go that way but western union wants over 10,000 baht. 

[Pib]

11 hours ago, Kwasaki said:

Thanks so much for your help I just want to make sure the money is secure so I can get things done now, 300,000 is 6 x 150 baht payments = 900 baht if I decide to go that way but western union wants over 10,000 baht. 

As mentioned you just need to change/raise your Bangkok Bank transaction limits for you mbanking or direct debit.   And yea, using Western Union may be easy but it's expensive in either direct sending fee and/or piss-poor exchange rate (bad exchange rate is a indirect fee).

 

If you don't want to go the DeeMoney route then just go to Bangkok Bank and do it in one transfer.  They would charge approx Bt350 if you instruct them "not" to cover an correspondent bank fee that may be along the way to your receiving bank.   Or approx B1,150 (Bt350 plus Bt800) if instructing Bangkok Bank to cover any correspondent bank fees along the way.   The Bangkok Bank TT "Selling" Rate is used for outgoing transfers and DeeMoney's Money Transfer Rate (a.k.a., TT Selling Rate) are plus or minus a hair of each other.   With DeeMoney you only save on Direct/Upfront Sending fee as their Money Transfer Rate is plus or minus a hair of Thai bank TT Selling Rates....and of course all the hassle that Thai banks can sometimes present when trying to send significant amounts.   The lack of hassle is a BIG plus.

 

As nice to know, below are the DeeMoney limits for sending USD (I had asked the question after opening a DeeMoney account)....expect GBP would be about the same in USD-equivalent.
 

Quote

Dear Sir/Madam

       Thank you for your question!

 

For USA we have a transfer limit per transaction at 475,000THB and you can send up to 800,000THB per day.Actually,customer can transfer up to 20 transactions per day and up to 40 transactions per month for both channels:mobile app and branches.

 

*Note : Via mobile application customer can send only 690,000THB per month,but via branches of DeeMoney no limit...

 

Sincerely Yours,

Customer Service Team

 

 

[Kwasaki]

56 minutes ago, Pib said:

And yea, using Western Union may be easy but it's expensive in either direct sending fee and/or piss-poor exchange rate (bad exchange rate is a indirect fee).

Just a note to say I collected money from Western Union at our local Post Office and the board listing Philippine rate had to send 90,000 baht was 3120 baht.

I got on there Thai web site at home and with mobile online banking it says " send Thai baht online with Western Union for 99 baht.