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DeeMoney at forefront of money transfer services despite barriers

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DeeMoney at forefront of money transfer services despite barriers

Financial technology companies are shaking up the traditional banking industry by providing faster, cheaper and more innovative services. Fintechs like DeeMoney in Thailand are revolutionizing international money transfer services for example, by using more efficient technologies like internet and smartphone apps and blockchain technology.

These innovations are enabling more customers to easily and conveniently send and receive money across borders, especially those customers lacking access to traditional bank branches.The World Bank said global remittances grew seven percent to $613 billion in 2017 from $573 billion in 2016.

But despite successfully disrupting the market and placing pressure on banks to improve their game, fintechs and other nonbank providers face barriers to expanding their services. The World Bank said last year that regulations targeting nonbanks were restricting the industry, and holding back financial inclusion that could improve lives, especially those in developing countries.

Aswin Phlaphongphanich, Chief Executive Officer of SawasdeeShop that operates DeeMoney,said a more level playing field was needed, with regulators regarding the traditional banking and nonbanking sectors more equally.

In Thailand for example, nonbanks must apply for a new licence for every branch they want to open, while banks can open numerous branches with the same licence. Daily transfer limits are set higher for banks than nonbanks, potentially impacting small and large companies wanting to do business through channels like DeeMoney. Nonbanks are barred from appointing agents, such as retailers, to receive transferred money. And customers using nonbanks must provide formal identification to receive inbound transfers, while customers using banks do not.

“DeeMoney is shaking up this industry. It aims to streamline and speed up traditional transfer processes that are often not practical, too unwieldy and inaccessible for those who need these services most,” Mr Phlaphongphanich said.

“Regulations for all providers should be the same, without favour, so all customers have the opportunity to benefit fully from these new, innovative and growing services on offer,” he said.

DeeMoney last year became the first and only nonbank provider in Thailand awarded special licences by the Bank of Thailand for cross-border money transfer, exchange and e-payment services.

That means DeeMoney can offer customers safe, international transfer services, without a string of high charges (such as transfer and receiving fees and currency conversion charges) that the banking sector has traditionally imposed. Instead DeeMoney charges a flat fee of 150 baht per transaction.

Unlike traditional institutions, DeeMoney also does not require large amounts of documentation or bank account requirements for transfers. DeeMoney requires only one form of valid ID for initial registration. While bank remittances can take days to receive, there are no delays with DeeMoney.

Customers can instantly transfer money and make payments from Thailand via the DeeMoney app available on Android and iOS to 17 countries.

DeeMoney also has four branches in Bangkok, offering transfer and 34 currency exchange services. Money can be sent to 180 counties including the United States, Australia, China, India and ASEAN countries such as Cambodia, Vietnam, Myanmar and the Philippines. By
collaborating with international partners, it has a strong and reliable distribution network globally, with more than 220,000 service points.

Mr.Phlaphongphanich said the industry was undergoing major changes, as DeeMoney and other nonbanks introduced innovations. With regulatory barriers removed, enabling an even more competitive environment, more customers would benefit.

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may, 2019

15jan(jan 15)18:3027aug(aug 27)22:30Every Tuesday Surf “N” Turf BBQ Dinner at Anantara Hua Hin ResortTreat your Tuesday night perfect with our new theme night dinner “Surf and Turf BBQ” featuring premium local seafood, nice selections of meats including tomahawk as well as variety of homemade desserts.

31jan(jan 31)18:3029aug(aug 29)22:30KHAN TOAK Dinner at Anantara Hua Hin Resort Every ThursdayEnjoy a northern Thai (Lanna) dining experience

27mar(mar 27)21:3031may(may 31)23:59Hilton Hua Hin Resort & Spa welcomes “Ozone Band” to Beer HouseAll renowned talents in the local music scene

01apr08:0031may(may 31)20:00Songkran Festival & Spa Promotion at Imperial Hua Hin Beach ResortPurchase any massage valued at THB 1,000 or more and receive

01apr10:0022may(may 22)20:00Kiss the sun and sooth your skin at Anantara Hua Hin ResortKiss and soothe skin to a summer glow. Pamper your skin before and after time in the sun for a shimmering healthy glow

01may08:4512:00Foodies' Food Tour by Feast ThailandThis tour is for the ‘true foodie’ and includes a traditional Thai breakfast

01may10:0017:00Black Mountain Water Park,Hua Hin is "Labor Day's Special"Celebrating your special day.Get 50% discount on ticket

01may12:0031(may 31)22:30Black Sea Bass Specials at Big Fish & BarAsian and innovative European styles.

01may18:0021:00Grand Opening of Elite Fight Club, Hua HinWe invite you to join us on May 1st for the blessing and grand opening of Elite Fight Club, Hua Hin

01may19:0031(may 31)23:00DJ Night at Vana Nava SkyJoin us 27 floors above Hua Hin for our DJ Night from 7 PM – 11 PM every night!

01may20:3029(may 29)23:30The Bangkok Beatles Live in Ted's at Father Teds Every WednesdayThe Legendary Bangkok Beatles play live in Ted’s

02may(may 2)10:0028(may 28)21:0020% off | Asara Spa Summer Bliss Promotion at Mövenpick Asara Resort & Spa Hua HinDrift away and feel the sweet scent of wild rose with

02may15:3018:00900 THB Afternoon Express Thai Cooking Class at Bamboo Thai Cooking SchoolAfternoon Express Thai Cooking Class in the Hua Hin & Cha Am area.

02may(may 2)17:0011(may 11)17:00Caviar in the Sky at Vana Nava Sky Enjoy 2 glasses of bubbly

02may20:3023:30Bamboo Heart at Take 5 Sports Bar & Live MusicBamboo Heart live on stage....

03may(may 3)10:0009(may 9)20:00Kids playground episode Balloon animals party at Bluport Hua HinMay 3-9, Blue Port Hua Hin Shopping Center appease kids and family with curvy activities.

03may(may 3)10:0031(may 31)21:00Mix & Match Spa Package at Quan Spa by Hua Hin Marriott Resort & SpaCreate your own two-hour package at Quan Spa!

03may18:0022:00Unplugged at Sanae Beach ClubSpecial wine promotion, Half price pizza, Chill out music🥂🍕🎷

04may06:0010:004 Scenes 4-Course with Wine Pairing at Sheraton Hua Hin Resort & SpaDiscover 4 unparalleled culinary scenes from our Yam Yen rooftop, down to InAzia

04may(may 4)12:0025(may 25)13:30Family's Pizza Day at Andreas Italian Restaurant & Grill every SaturdayBring your children to Andreas Italian Restaurant & Grill

04may(may 4)18:0025(may 25)22:00BBQ Chill & Grill by the Sea at Sheraton Hua Hin Pranburi Villas every SaturdayGet together with family and friends to enjoy your evening in the relaxed atmosphere.

04may18:0022:004 Scenes for 4-course with wine pairing at Sheraton Hua Hin Resort & SpaDiscover 4 unparalleled culinary scenes from our Yam Yen rooftop, down to InAzia

05may(may 5)18:3019(may 19)22:00Sunday Supper Special at Azure Restaurant, InterContinental Hua Hin ResortEnjoy an exclusive selection of fine à la carte dishes, cooked à la minute by our talented chefs and served directly to your table.

06may18:0022:00White Beach BBQ at Hua Hin Marriott Resort & SpaJoin our stunning seafront barbecue dinner on the soft sands of Hua Hin Beach.

10may09:3013:301100 THB Thai Cooking Class Menu 3 at Bamboo Thai Cooking SchoolFree Transport

10may18:0023:00Concert Lek the Voice at Sea Zabb Restaurant Ticket price 2,000 baht per seat

10may(may 10)18:3031(may 31)22:00Food-Stall Market & BBQ on the Beach Every Friday & Saturday by InterContinental Hua Hin ResortEnjoy the food stalls market right on the beach

11may(may 11)10:0013(may 13)02:00Longlay Beach Life Festival 2019Come to live a stylish BEACH LIFE ...

11may(may 11)10:1529jun(jun 29)11:30Under 16s Saturday Training at Hua Na Academy FC every SaturdayUnder 16s Training

11may17:0000:00Eco Music Concert (Huahin) at Leleaf valley huahinSpecial with food booths.And cocktails

11may(may 11)17:0025(may 25)18:00Yoga for Life at Mövenpick Asara Resort & Spa Hua Hin

11may(may 11)18:0025(may 25)22:00Saturday BBQ by the Sea at Sheraton Hua Hin Resort & Spa every SaturdayEnjoying a truly relaxed Saturday dinner experience.

11may(may 11)18:0025(may 25)22:00GSK Saturday Buffet at Golden Star Kitchen Every SaturdayA poll might soon be posted to see which one we will have.

11may20:0022:00SeaSide Night Run: Fashion Colourful 2019 at Cha-Am Beach9 km - 500 THB - 08:00 pm

11may20:0022:00SeaSide Night Run: Fashion Colourful 2019“Burning colorful fashion run”

12may03:0007:00Hua Hin Marathon 2019 at Wat Khao KrailartH.R.H. Princess MahaChakriSirindhorn’s Trophies

12may03:0008:00Hua Hin Marathon 2019 at Wat Khao KrailartStart & Finish @Wat Khao Krailart, Unnamed Road Hua Hin, Thailand.

12may03:0008:00THE ANNUAL HUA HIN MARATHON 2019 at Wat Khao KrailartThe second Hua Hin full marathon by the Preserve Hua Hin Group

12may12:0015:00Savor Farm To Table Flavors Sunday Brunch at Sheraton Hua Hin Resort & SpaSavor Farm to Table Flavors

12may(may 12)13:3028jul(jul 28)16:00Sunday Roast Bookings Essential at Ian's Restaurant every SundayBookings Start at 1.30pm

12may17:3020:00T4 2019 Home Match Samutsongkhram FCHua Hin City FC vs Samutsongkhram FC

12may19:0020:30Live Acoustic Set featuring 'Jimmy' at Pat's Place. Hua Hin 94Live Acoustic Music

12may21:0023:00Liverpool versus Wolverhampton Wanderers at Take 5 Sports Bar & Live MusicKick Off at Take 5 Sports Bar come and join us this Sunday

13may(may 13)09:0031(may 31)12:00Cooking Class | 100 Year Old Market Tour - Taste Exotic IngredieEstablished 1999 in a traditional Thai teak house.

13may(may 13)10:0015(may 15)14:00Thailand ICT Camp 2019 at The Sirindhorn International Environmental ParkThe First Thailand ICT Camp 2019

13may(may 13)12:0027(may 27)22:00Every Monday all you can eat & Drink.

13may17:3020:30Likay Charity Night at Laciana by the seaCome to have fun with the Thai musical folk drama by the beach

13may(may 13)18:0018(may 18)21:00White Asparagus special at Lotuswell - Sala Bua RestaurantWeekly special

15may(may 15)12:0029(may 29)18:00POWER TEE COMPETITION at Banyan Golf Club, Hua HinTHB 2,000.- per person inclusive of snack following game.

15may(may 15)15:0018(may 18)19:00Hua Hin's first International Rugby Tournament at True Arena Hua HinEntry is free so come and enjoy an afternoon of high – level rugby.

15may(may 15)18:0029(may 29)22:00Pizza, Pasta & Risotto All You Can Eat at Sheraton Hua Hin Resort & SpaA parade of homemade Italian pizza, pasta & risotto cooked a la minute from our live cooking stations are back by popular demand during this festive season.

15may(may 15)19:0029(may 29)21:00Wine Me Up Wednesday! at Avani+ Hua Hin ResortOnly 599++ per person

16may10:0020:00Take 5 Monthly Golf Tournament at Black Mountain Golf CourseTee times start from 10:16 AM onwards. Max 40 players.

16may(may 16)18:0030(may 30)20:00Ribs N' Wings Night All You Can Eat at Sheraton Hua Hin Resort & SpaEnjoy these finger licking good at Sundara Sports Bar

17may12:0015:304 Corners A Taste Sensation Tour with Feast ThailandWe then sample some of the best Northern Thai food Hua Hin

17may18:0022:00Moonlit Barbecue On The Beach at Hua Hin Marriott Resort & SpaTHB 1,890++ per person including half a bottle of wine

17may18:3022:00Hilton Hua Hin Resort & Spa Launches “Culinary Affairs” BuffetCulinary Affairs by The Pool

17may19:0022:00Friday Fun Darts at The Lounge . Cafe - Sports BarCome along and join in. New players are welcome.

17may(may 17)19:3031(may 31)22:30SO Acoustic Session at SO Sofitel Hua Hin of May 2019Every Friday

18may09:0012:00SPS Hua Hin Kids Cup 2019Midfield Soccer Hua Hin Borfai Soi 6 Kick off at 9am

18may(may 18)09:3020(may 20)15:30Kanchanaburi - Si Sawat Loop Ride by Siam Handlebar HUA HINBikers Hua Hin, Siam Handlebar & Big Bike Rental Hua Hin

18may12:3019:00GOLF & BBQ DINNER at Banyan Golf Club, Hua HinAfternoon golf tournament followed by a sunset Barbecue at Mulligan’s Pub.

18may(may 18)13:0020(may 20)13:00Spiritual Transformation, Alive Church Camp at The Cha-Am Methavalai hotel - from 18th to 20th May 2019This price includes 4 stars accommodation and 5 meals.

18may13:0018:00“Mutate” 1st Solo Exhibition by Paaroon Chuprasert at The Art Coffee House & Gallery📌 Grand opening The Art Exhibition

18may15:0021:00Beach Saturday W/ Wildealer & Dr.Doon at Baba Beach Club Welcoming Thai Dj duo Wildealer for a day by the beach

19may(may 19)05:0026(may 26)12:00Infinity Breakfast at Vana Nava SkyDelicious food and views = perfect Sunday!!

19may(may 19)13:4526(may 26)15:45DC 104 Class at Victory Church Hua Hin - Every SundayAdmission Fee: 300 baht for the entire course

19may16:0019:00T4 2019. Away match vs Assumption UnitedHua Hin City FC will be playing at Assumption College Thonburi

19may(may 19)17:0026(may 26)23:00Open Acoustic Jam Session at Ssshhh every SundayAll Musical Nomads are welcome

19may18:0020:00M Live Night – Cosmopolitan Cocktail at Hua Hin Marriott Resort & SpaMake your evening even more exciting at M Live Night!

19may20:0023:30Remix Band Live in Father Ted'sEnjoy the best of Soul & Jazz Fuzion, Blues and a Dash of R&B

22may13:0019:00Guitar Council # 2 at SIS TER SISFor people who love guitar, will come out to meet again.

23may(may 23)10:0029jun(jun 29)16:00Burn Your Fat Off at Blúport Hua HinThe first time of Hua Hin Blue Port Hua Hin shopping mall is open to recruit women who want to lose weight

23may15:0021:00International Charity Night 2019 at HuaHin Market VillageInternational charity and heartened in the contest, and the theme “Bohemian”.

23may(may 23)16:3026(may 26)15:00Live NRL at El Murphys Irish Bar & GrillEnjoy the games with great food and icecold drink specials – Leo / Chang from 49b – mojitos and maiThais 99b, 5/1 free – Air conditioned bar.

23may(may 23)18:0030(may 30)20:00Ribs N' Wings All You Can Eat at Sheraton Hua Hin Pranburi VillasRibs N' Wings every Thursday night

23may18:3023:00Hua Hin Ladies mid year party at Laciana by the seaAll ladies of Hua Hin (Thai and foreign) are invited to join this fun mid year party at the beautiful beachfront venue Laciana By The Sea which has one of the best ocean views in Hua Hin.

24may(may 24)08:0031(may 31)21:00Golf Challenge - Pat's Place v Take 5 Sports BarSocial Golf Challenge

24may17:3021:00Free Real Estate Seminar with RE/MAX in Hua Hin at Hua Hin Marriott Resort & SpaThe seminar is suitable for people who do real estate. And those interested in wanting to enter the real estate sector At the end of the event, there will be an opportunity to meet with our team.

24may(may 24)18:0031(may 31)20:00Thank God It's Friday - Free Flow Wine O'Clock at Sheraton Hua Hin Resort & SpaEnjoy the sunset and the cool breeze at Yam Yen Rooftop …

24may18:3020:30Hua Hin Business Network Wine Evening at Avani+ Hua Hin ResortYou are cordially invited to Hua Hin Business Network’s May Wine Evening held on May 24th at Avani Hua Hin from 6.30pm on wards.

24may18:3020:30Hua Hin Business Network Wine Evening at Avani+ Hua Hin ResortYou are cordially invited to Hua Hin Business Network’s May Wine

25may10:0018:00NEON WEON Summer 2019 at Santorini Park Cha-AmThat impression is coming back to NEON WEON SUMMER, the most cool running event on the Satorini Park Waterventures.

25may(may 25)10:0026(may 26)23:30Hua Hin Pitbull Bully # 6 at Hua Hin Market VillageInvitation to join Huahin Pitbull Bully # 6 on 25-26 May 2019 at the Center Chords Zone Huahin Market Village at 10.00 – 21.30 hrs.

25may10:3014:00Eat Like a Local Food Tour with Feast Thailand You will try some amazing tasting Thai food in humble surrounds.

25may17:0020:00NEON WEON Summer Running Festival 2019 at Santorini Park Waterventure Cha-amMini Marathon Run : 10 Km. Fun Run Run : 5 Km.

25may18:0022:00Wine Pairing at Sanae Beach ClubThe Journey of Italy Wine Pairing

25may18:0022:00Secrets Grand OpeningNew bar, newly refurbished with 9 foot pool table

25may18:0021:30Exclusive “Yalumba Series” Wine Dinner at Chay Had RestaurantThis wine dinner will feature wine guru, Tim Herrmann, who will provide a delightful overview on a beautiful collection and outstanding award-winning wines.

25may18:3022:30International Wine Day at Sheraton Hua Hin Pranburi VillasPriced at THB 990 net per person.

25may18:3022:30Seafood BBQ at the Beach by Anantara Hua Hin ResortJoin us on the sand for a delectable feast by the sea.

25may19:0022:00Exclusive “Yalumba Series” Wine Dinner at Hilton Hua Hin Resort & Spa, Chay HadWine Dinner with Yalumba wines from South Australia.

25may(may 25)19:0026(may 26)00:30Double Hellix with Lee Shamrock at Father TedsWith the English Premier League and European Club Rugby all but over after this weekend, it’s time to up the Ante with our Live music schedule over the coming few weeks and months ahead.

26may12:0015:00Sunday Family Roast at Amber Kitchen by Hua Hin Marriott Resort & SpaIt’s never too late to create a new weekend tradition!

26may16:0020:00Cleanup Huana MarketWe’re going to cleanup around that area and educate local people about reducing trash, so if you have spare cloth bag, please bring it to donate.

26may17:3020:30Hua Hin City FC vs Chainat UnitedHua Hin City FC will be playing at the InspireHuaHin.Com Stadium

26may20:0023:00Monaco Grand Prix at 19th Hole Hua HinCatch all the action live on the big screen this Sunday

28may18:3023:59Sangria & more Oldies Night at Restaurant Treffpunkt SigiWith german/thai buffet from Sigi and team and this time friendly support from Huahin bakery and Euro deli and sausage .

28may19:3023:30Jor from the Voice Thailand Ft The Thairish Band at Father TedsJor will be joined later on after her acoustic set by our very own The Thairish Band as we pick up the pace long into the night.

29may09:0012:00International Jazz Festival in Hua HinUnwind at the Hua Hin Jazz Celebration where you will appreciate famous Thai and global jazz artists, commonplace unequaled top choices and contemporary tunes.

29may09:0012:00International Jazz Festival in Hua HinUnwind at the Hua Hin Jazz Celebration where you will appreciate famous Thai and global jazz artists,

29may19:0021:00Wine Me Up Wednesday! at Avani+ Hua Hin ResortSangria Cocktail and Draught Beer🎧 Live DJ 💡 Blue Biscuit

30may17:0022:00Dine Along the Beach Hua Hin at Hyatt Regency Hua HinCentara Grand Beach Resort & Villas, joined with Hilton Hua Hin Resort & Spa, Hua Hin Marriott Resort & Spa, Hyatt Regency Hua Hin, and InterContinental Hua Hin Resort, have teamed up to create “Dine Along the Beach 2018” an amazing five-course alfresco feast on the soft sands of Hua Hin Beach.

30may17:0021:00Dine Along The Beach at Hua Hin Marriott Resort & SpaDiners will make their way down Hua Hin Beach

30may17:0021:00Dine Along The Beach at Hua Hin Marriott Resort & SpaDiners will make their way down Hua Hin Beach, sampling one course from each of the luxury resorts.

30may17:0022:00Dine Along the Beach Hua Hin at Centara Grand Beach Resort & VillasAmazing five-course alfresco feast on the soft sands of Hua Hin Beach.

31may(may 31)15:0002jun(jun 2)15:00Contact your inner child with power animalsA weekend retreat designed for families with children

31may19:0021:00Camille’s Wine Tasting at Wine Connection Thailand (Bluport Huahin)Come and taste a wine selection of Bordeaux Area.

31may20:0022:00Chic and Chat Night Out at Mozza Mia Hua HinCHAT on the CHIC CHIC style💃

31may20:3023:30Rod Stewart by Award Winning Performer Morgan Kent at Father Teds‘Clown Prince Of Rock & Soul’ Rod Stewart

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