Wednesday, August 21, 2019

KBank launches cross-border inward remittance service

Apr 18. 2019
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By The Nation

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Kasikornbank (KBank) is ready to kick off its inward remittance service from around the world to transfer funds to recipients’ accounts in over 21 banks using PromptPay on a real-time basis for the first time, Silawat Santivisat, KBank’s senior executive vice president, said.

The conventional process normally takes more than one day. With the use of the world-class platform based on API technology, the service enables remittances up to Bt49,999 per transaction but not more than Bt10 million per day. 

The inward funds transfer service is now accepting remittances from Singapore and is set to expand worldwide next year to support international financial transactions in the digital era.

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