Advertorial For Money Transfer Services, Transparency Is the Clear Choice

[ASEAN NOW Sales]

For Money Transfer Services, Transparency Is the Clear Choice

 

 

What does it mean to be ‘transparent’? In the world of finance, the term is bandied around a lot but how often does a bank honestly disclose its full transaction process, charges, and exchange procedure to the general public in an open, clear, and timely manner. While many people consider transparency crucial, it’s unclear how many financial services actually deliver on this promise.

 

At DeeMoney, we pride ourselves on delivering on our transparency pledge to our users. As a digital international money service, not only do we provide full clarity about the beating heart that is our transfer process, but it’s a fundamental part of how we keep our fees as low as possible for DeeMoney Members.

 

Unlike our team at DeeMoney, banks don’t really like to handle transactions involving low denomination currencies (e.g., Vietnamese Dong, Myanmar Kyat, Bangladeshi Taka, Pakistani Rupee, Indonesian Rupiah, etc.) as they aren’t valuable enough to make a profit on unless the transaction is for a large enough amount. So, when it comes to processing money transfers and currency exchanges, banks are rather hazy about how they convert low denomination currencies and mysterious about why it proves so expensive their way.

 

More often than not, users won’t even know the exact amount their recipients will receive with bank transfers because the conversion is always approximate and the charges are hidden. Users also lose out on smaller transactional figures as banks tend to convert the initial currency into USD before paying out in the recipient currency causing multiple clips on the exchange and making the whole procedure more expensive too. Most banks will only operate in the top ten most stable global currencies (e.g., USD, GBP, JPY, etc.) for this very reason: the margins are otherwise so wafer thin that unless they’re transacting large volumes the bank is running at a loss. Small volume transactions don’t justify the operating cost for these huge corporate financial institutions.

 

DeeMoney thrives in its core money transfer services because it leverages a global network of like-minded currency exchange financial partners. Unlike banks, we convert from one currency direct to the preferred recipient currency.

 

Because we are able to process a single conversion—rather than one with multiple expensive clips—we can also provide the exact value that your recipient will receive. In addition, since our partners pay out from their own currency volumes, they’re able to give DeeMoney a favorable fixed rate at the time of the transaction keeping close to market rates. This is also how we keep our fees as low as possible. DeeMoney also updates both its website and Facebook page twice-a-day so users can keep ahead of the latest rates available. Now that’s transparency.

More info > DeeMoney
 

[NoshowJones]

I may have this wrong, but Dee Money seem more interested in transferring money out of Thailand than bringing in. I have been using Transferwise, but they have been a big disappointment, having had to wait a full week for my funds from the UK because of their incompetence. I may try Xendpay for my next transfer from the UK.

[Cuba]

3 hours ago, possum1931 said:

I may have this wrong, but Dee Money seem more interested in transferring money out of Thailand than bringing in. I have been using Transferwise, but they have been a big disappointment, having had to wait a full week for my funds from the UK because of their incompetence. I may try Xendpay for my next transfer from the UK.

That's a good thing isn't it? It's can be a real pain in the arse transferring your own money from here elsewhere.

[Lipoman]

@Cuba: pleplease can you explain this difficult process with better clarity?  Your initial response to this advert / info was not informative to help us readers understand your negative experience trying to transfer money out of Thailand.  

 

Who is making it difficult to transfer one's money from Thailand to another country? Government,  financial institution, or societal custom? 

 

What makes it difficult, a specific rule or only perception? 

 

Where in Thailand, city and financial institution name, is this difficulty occurring? 

 

When does the difficulty occur?  Does it occur when you are in a hurry?  Does it occur at any major holiday time? 

 

Why is it difficult to transfer one's money out of Thailand?  A specific rule that hinders the process? 

 

How is it difficult to transfer one's money from Thailand to another country?  

 

[Surasak]

Brits can look up 'AZIMO' for fund transfers. Quite reasonable charge at 99p a pop.

[fxe1200]

On 6/21/2019 at 2:46 PM, Surasak said:

Brits can look up 'AZIMO' for fund transfers. Quite reasonable charge at 99p a pop.

To what exchange rate?

[baggies666]

Since the 19th June I have not been able to transfer to the uk as dee money suspended service, with no real date when dee money is available again what is the next best option for transfer out of thailand to uk? bangkok bank charges seem high.

[Paul52]

On 6/15/2019 at 5:21 AM, possum1931 said:

I may have this wrong, but Dee Money seem more interested in transferring money out of Thailand than bringing in. I have been using Transferwise, but they have been a big disappointment, having had to wait a full week for my funds from the UK because of their incompetence. I may try Xendpay for my next transfer from the UK.

Unlikely to be TransferWise to blame for a transfer taking longer than normal.  Most probably the receiving Thai bank being completely useless and incompetent.  I’ve been using TransferWise for over 3 years and they’ve never let me down.  Great service.

[bignbad]

3 hours ago, fxe1200 said:

To what exchange rate?

I just compared 'azimo' with 'transferwise'

Better deal from transferwise, so maybe cheaper per transfer with azimo, but he exchange rate is better with transferwise.

[NoshowJones]

16 minutes ago, Paul52 said:

Unlikely to be TransferWise to blame for a transfer taking longer than normal.  Most probably the receiving Thai bank being completely useless and incompetent.  I’ve been using TransferWise for over 3 years and they’ve never let me down.  Great service.

I thought it was a great service too, until they told me it was in my Bangkok Bank, which was lies, it took them a full week to get it sorted, but I suppose I am stuck with them and hope this does not happen again, there are no alternatives that I know of apart from Xendplay, but they won't even accept my application even though I uploaded what they wanted and they acknowledge that they had received them.

[habanero]

On 6/15/2019 at 4:11 PM, Lipoman said:

@Cuba: pleplease can you explain this difficult process with better clarity?  Your initial response to this advert / info was not informative to help us readers understand your negative experience trying to transfer money out of Thailand.  

 

Who is making it difficult to transfer one's money from Thailand to another country? Government,  financial institution, or societal custom? 

 

What makes it difficult, a specific rule or only perception? 

 

Where in Thailand, city and financial institution name, is this difficulty occurring? 

 

When does the difficulty occur?  Does it occur when you are in a hurry?  Does it occur at any major holiday time? 

 

Why is it difficult to transfer one's money out of Thailand?  A specific rule that hinders the process? 

 

How is it difficult to transfer one's money from Thailand to another country?  

 

Thailand is difficult to transfer money out of. I had to show proof that I transferred the money in and where it came from before I could transfer any out. 

[berrec]

On 6/15/2019 at 4:11 PM, Lipoman said:

@Cuba: pleplease can you explain this difficult process with better clarity?  Your initial response to this advert / info was not informative to help us readers understand your negative experience trying to transfer money out of Thailand.  

 

Who is making it difficult to transfer one's money from Thailand to another country? Government,  financial institution, or societal custom? 

 

What makes it difficult, a specific rule or only perception? 

 

Where in Thailand, city and financial institution name, is this difficulty occurring? 

 

When does the difficulty occur?  Does it occur when you are in a hurry?  Does it occur at any major holiday time? 

 

Why is it difficult to transfer one's money out of Thailand?  A specific rule that hinders the process? 

 

How is it difficult to transfer one's money from Thailand to another country?  

 

 

On 7/7/2019 at 1:17 PM, Mansinthe said:

Same here, never had a problem with Transferwise (or Azimo).

 

Most of the time the money arrives in a Thai bank account within 36 hours.

 

Azimo takes a bit longer but its still not as slow as WU.

Same with me, been using TFW for over 12 months now bringing funds in monthly from an AUS bank, always found them very effective in their timeline of getting money to me, normally 2 days at the most.....as stated if there is a delay it seems to be from the TFW trace the useless Thai banks here for their incompetence of account processing of in-country transfers.