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BANGKOK 24 March 2019 20:37
Pib

My Experience Using DeeMoney

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It would help if you told us what rate they used compared to the mid market rate. $5 fee means very little without that.

 

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17 minutes ago, rhodie said:

It would help if you told us what rate they used compared to the mid market rate. $5 fee means very little without that.

 

Are you sure you are not affiliated? :whistling:

Look at their webpage....look at their "Transfer Money" rate.  Tons of info on their website.  What they call their Money Transfer rate is what Thai banks call their TT Selling Rate used for ongoing transfers.  You will see the DeeMoney Transfer Money exchange rate is plus or minus a hair of the TT Selling Rate used by Thai banks.  Keep in mind if doing a comparison today (a Sunday) the DeeMoney rate will be reflecting a Sunday rate....but if you look at Thai bank web site today/Sunday for their TT Selling Rate will still be their Friday rate.  So best to compare on a Monday thru Friday to get the best apples-to-apples comparison.

https://www.dee.money/

https://www.dee.money/money-transfer-rate/

 

 

Edited by Pib
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I am thinking about a registration at DeeMoney when i stay in Bangkok next time. What kind of documents do you have to need for a registration at DeeMoney to send money out of thailand? Do you need a work permit? Do you need a NON IMMI O visa or is also a tourist visa sufficient? Thanks so much for any answers

 

 

Sent from my iPhone using Thaivisa Connect

 

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All money transfers will be exactly the same method, I use transferwise,easy enough,good exchange rate,but do it midweek when exchange rates are usually at their highest ,takes about 2 to 3 days to reach Thai bank K bank,if doing it Friday or maybe Thurs chance it will be delayed by weekend (it will)

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Hi,

Sorry, I don't get it. Deemoney allows to send money OUT of Thailand without hassle? Seems it was impossible without an invoice?

When you send money OUT with Deemoney, I guess you do a local transfer, to a Thai bank, then they send international?
I am astonished this is legit. I thought Thailand does not like too much money going out of the Kingdom, without a serious reason like an invoice for goods?

 

Thank you for your help.

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Thank you for this information PIB.

 

I have been looking for a way to move funds out of Thailand and this seems to be the answer.

 

I have been using BahtSmart for 4 years to transfer funds from Australia to  Thailand and very slow. I sent money on Monday AM now its Friday and still no funds have arrived into my Thai Bank Account, so I might try Tansferwise for sending to Thailand.

Thanks again for the Information PIB.

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4 hours ago, Jessi said:

Thank you for this information PIB.

 

I have been looking for a way to move funds out of Thailand and this seems to be the answer.

 

I have been using BahtSmart for 4 years to transfer funds from Australia to  Thailand and very slow. I sent money on Monday AM now its Friday and still no funds have arrived into my Thai Bank Account, so I might try Tansferwise for sending to Thailand.

Thanks again for the Information PIB.

Transferwise works good for the wife and I....we both have Transferwise accounts.  Based on six Transferwise tranfers from the US to Thailand they took approx 2 business days with the exception of the very 1st one which took 4 days.  Somewhere on the Transferwise website it talks your first transfer may take a little longer....they didn't say why but I expect it due to verification of identity. 

 

And total transfer time is affected by how you fund the transfer as Transferwise does not kick the money out the door until you get the money to them.  Like in the US I expect most folks use the "ACH Debit" method to fund their Transferwise transfers.  ACH stands for the Automated Clearing House which is the primarily interbank/intercompany transfer method used in the US.  I expect around 1 day of the 2 day sending time is the time the money is in the ACH system flowing to Transferwise....once they get that money it takes Transferwise around 1 day to get it deposited in your Thai bank account.   Your results may vary....a lot can depends on how fast and what method you use to fund the transfer.

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15 hours ago, Pib said:

Transferwise works good for the wife and I....we both have Transferwise accounts.  Based on six Transferwise tranfers from the US to Thailand they took approx 2 business days with the exception of the very 1st one which took 4 days.  Somewhere on the Transferwise website it talks your first transfer may take a little longer....they didn't say why but I expect it due to verification of identity. 

 

And total transfer time is affected by how you fund the transfer as Transferwise does not kick the money out the door until you get the money to them.  Like in the US I expect most folks use the "ACH Debit" method to fund their Transferwise transfers.  ACH stands for the Automated Clearing House which is the primarily interbank/intercompany transfer method used in the US.  I expect around 1 day of the 2 day sending time is the time the money is in the ACH system flowing to Transferwise....once they get that money it takes Transferwise around 1 day to get it deposited in your Thai bank account.   Your results may vary....a lot can depends on how fast and what method you use to fund the transfer.

Thank you again for the info.

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On 11/16/2018 at 2:16 PM, Pib said:

Summary: based on two transfers to the US which cost less than $5 USD each, the money posted in full to my US bank accounts in 2 to 3 days with no intermediary bank fees.  Simple...easy....no hassle...I be happy.   Your results may vary.

Pib thanks for guinea pigging the DeeMoney process.

If I needed to send any money back, and their costs remained competitive, I would certainly look at using them. I just hope they open a few new office locations outside Bangkok to register.:thumbsup:

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