Problem with Dee Money

[fusion58]

I initiated a transfer to a U.S. account on 29 June, and, nine days later, the funds still haven’t arrived to my destination account.

 

I’ve used Dee Money before with no problems, i.e., turnaround time for transfers has always been within 24 hours, so I’m a little alarmed.

 

Contacted customer support, and this is the response I received:

 

”As checked with our related team, the reason for this unusual delay is related to a combination of technical and operational issue we're facing with our processing partner's end. They have already escalated it to the highest level.   
   
We do apologize and will revert back to you with the status as soon as possible.”

 

That was two days ago. 
 

No response to my follow up questions.
 

Anyone experiencing similar difficulties with this service?

[scubascuba3]

At least they are communicating with you, be patient 

[amexpat]

Me too but just 4 days so far. 

[amexpat]

On 7/8/2024 at 10:29 AM, fusion58 said:

I initiated a transfer to a U.S. account on 29 June, and, nine days later, the funds still haven’t arrived to my destination account.

Any joy yet?  7 business days since they took it from my Bangkok Bank. 

[wimpy]

10 hours ago, amexpat said:

Any joy yet?  7 business days since they took it from my Bangkok Bank. 

WTF?

[amexpat]

I initiated a transfer to a U.S. account on 4 July.  
Completed 18 July. 

[richn4]

Me too and it's getting worse. I initiated one transfer THB>GBP before the start of business on Monday 8 July and after numerous Line messages I was credited late on Thursday 11 July after the exact same "technical and operational issue" excuse.

 

More fool me: I made a second transfer before the start of business on Monday 15 July and have been pinging them on the Line app since Thursday 18 but no credit. Monday was a holiday in Thailand which has given them a perfect excuse to push responding through to today, Tuesday 23. We are now on the ninth day, or six working days, since Dee took my money in Thailand. Wise transfers the other way are pretty much immediate.

 

The only positive thing I have to say about Dee is that their Line customer support within working hours is pretty responsive if utterly ineffectual because they always blame partners which is irrelevant because our transaction is with Dee and they are responsible for crediting us the transferred money.

[ELLHNAS]

Any updates on this horrible company? Are they going bust? Any recommendations on where to file a complaint? My transfer of July 10 still not through and I see a river of negative reviews in Trust Pilot and google map about this joke of a company.

[wimpy]

Never had a problem with them in the past. Hope they sort things.

[BKK4]

Similar issues for THB - GBP transfers in June and July. The first transfer (only 10,000 baht) took just 3 days. Larger transfers (around 500,000 baht) took 3 weeks and semi-regular follow-up. Still have two large transfers pending, with one being initiated around 10 days ago and the other around 7 days ago. I get the same response from customer support - technical and operational issues. 

[Celsius]

This company is now officially very bad.

 

1 week and money still not transferred. 

 

[ELLHNAS]

I am waiting for 3 weeks!! 

[Dan SG]

All, is dee money the only way of getting money out of transfer if you don't fall in very specific remittance categories followed by the banks? I over transferred about GBP15k to Thailand and want to transfer this back out.  I have both a krungsri and bangkok bank account and both offer what seems like a straightforward swift remittance process online and fills me with a lot more confidence than dee, how what is everyone's experience? Will this likely get blocked if I submit? Also, i read that if they block a transfer they still keep the fees which, of course, is a total scam!

[bravo19]

6 hours ago, Dan SG said:

is dee money the only way of getting money out of transfer

It is also possible to transfer the money out of Thailand by SuperRich. But I haven't tried yet.

[Dan SG]

Thanks.  How about just using one of the Thai banks - like Krungsri or Bangkok - if you're an account holder and using their online international remittance service? Does it normally go through or get blocked?

[BKK4]

Update: Latest transfer finally arrived in the UK. It took 22 days. There were 2 public holidays in Thailand and 1 banking holiday in the UK, plus weekends, so I guess that means it took 13 business days to arrive. Still 1 more pending. Well, it is a way to move money from TH to the UK, but be prepared for it to take this long, at least for TH - UK transfers. 

[Unify]

I'm still waiting for a transfer from August 1st. According to Dee, the money has been released to their partner, and they're waiting for them to get the funds to me. I will avoid them in the future. I have no knowledge of their solvency, at all -- so the following is complete conjecture. If they were robbing Peter to pay Paul, this is how it would look.

 

They are regulated by the bank of Thailand.

[wimpy]

13 hours ago, Unify said:

I'm still waiting for a transfer from August 1st. According to Dee, the money has been released to their partner, and they're waiting for them to get the funds to me. I will avoid them in the future. I have no knowledge of their solvency, at all -- so the following is complete conjecture. If they were robbing Peter to pay Paul, this is how it would look.

 

They are regulated by the bank of Thailand.

What are the alternatives to Dee?

[fusion58]

My transfer finally arrived after more than two weeks and after receiving nothing but the same old canned, generic responses to all of my inquiries.

 

I will never do business with this irresponsible dumpster fire of a company again!

[Caldera]

European FinTechs I've used (CurrencyFair, Revolut and WISE) all seem to have this in common with DeeMoney. At some point, they've run into problems with some of their international partners, and ultimately they have had to switch.

 

That's why I wouldn't dismiss DeeMoney's explanation out of hand. I've been using them for years, but only for transfers to Cambodia, where they have a strong relationship with their local partner. Those transfers always arrive on the same day without fail. I don't think they wouldn't like to provide the same quality of service for transfers to other destinations. 

[norbra]

Some years back they guaranteed next day delivery accompanied with a fee increase.

This worked fine for a while untill there was a bank holiday in the US ,transfer took 4 days,following that transfer,3 days became the norm.

I have now used WU for 2 years for my transfers to Australia,same exchange rate fees 99 thb same day delivery if order placed early

Screen shot WU.

 

[Celsius]

41 minutes ago, norbra said:

Some years back they guaranteed next day delivery accompanied with a fee increase.

This worked fine for a while untill there was a bank holiday in the US ,transfer took 4 days,following that transfer,3 days became the norm.

I have now used WU for 2 years for my transfers to Australia,same exchange rate fees 99 thb same day delivery if order placed early

Screen shot WU.

 

 

how long did it take with wu?

[Celsius]

wow ..check their app reviews on Google....

 

 

mai dee money 

[norbra]

7 minutes ago, Celsius said:

 

how long did it take with wu?

All my transfers to AU have been same day,my Australian bank make funds available on their arrival,usually funds are available by 6 pm Thai time.

 

The screen shot indicates only minutes for that sample transfer

[Celsius]

4 minutes ago, norbra said:

All my transfers to AU have been same day,my Australian bank make funds available on their arrival,usually funds are available by 6 pm Thai time.

 

Great.

 

I should say that we got 500k finally  transferred after a week. But my guess is because my wife was on the phone every day and she is in sales with high customer service skills and knows how to talk to them.

 

My guess is there are no delivery partner problems.....they are getting interest on the money they keep.

[norbra]

4 minutes ago, Celsius said:

 

Great.

 

I should say that we got 500k finally  transferred after a week. But my guess is because my wife was on the phone every day and she is in sales with high customer service skills and knows how to talk to them.

 

My guess is there are no delivery partner problems.....they are getting interest on the money they keep.

Theier partner bank is in the US,so subject to US banking timelines for processing, so if you place order for a transfer to AU on a Monday,the US bank will receive it on their Monday night,(Tuesday in AU)process and send next business day (Wednesday AU,so might turn up Wednesday or Thursday.

[LosLobo]

1 hour ago, norbra said:

Some years back they guaranteed next day delivery accompanied with a fee increase.

This worked fine for a while untill there was a bank holiday in the US ,transfer took 4 days,following that transfer,3 days became the norm.

I have now used WU for 2 years for my transfers to Australia,same exchange rate fees 99 thb same day delivery if order placed early

Screen shot WU.

 

The exchange rate seems very poor compared to Bangkok Bank or Wise rates for GBP.

What do you get with AUD?

[norbra]

21 minutes ago, LosLobo said:

The exchange rate seems very poor compared to Bangkok Bank or Wise rates for GBP.

What do you get with AUD?

Wu 1thb 0.0206 gbp

Mid market Wise1thb 0.022 GBP

BKB 1thb 0.02GBP

Current fx rates

Wise and BKB have high fees

Wu 100thb

Plus Wise cannot send Thai baht abroad.

[norbra]

27 minutes ago, norbra said:

Wu 1thb 0.0206 gbp

Mid market Wise1thb 0.022 GBP

BKB 1thb 0.02GBP

Current fx rates

Wise and BKB have high fees

Wu 100thb

Plus Wise cannot send Thai baht abroad.

BKB fees 1500 thb per transaction

[LosLobo]

5 hours ago, norbra said:

Wu 1thb 0.0206 gbp

Mid market Wise1thb 0.022 GBP

BKB 1thb 0.02GBP

Current fx rates

Wise and BKB have high fees

Wu 100thb

Plus Wise cannot send Thai baht abroad.

 Deleted