Are you tired of being at the mercy of banks when you move money? You may live in Thailand, but no doubt you want to send funds for bills, expenses, and your family all over the world. So, why does it feel like your money is shackled to your bank account? And why is the cost of releasing it so high?
In today’s society where we can live and work practically anywhere, moving money should be frictionless. But so often it isn’t.
High exchange rates, exorbitant bank/transaction fees, and hidden charges all work to cripple our hard-accumulated funds the minute we even consider sending money abroad. Sending money out of Thailand is both challenging and expensive—everyone’s least favorite combination of factors. Repeat an exchange transaction more than once, and you may as well gift wrap your money for the bank with a bow.
We know you’re not alone with these frustrations too. Members of expat forums for cities all over Thailand see the oft-repeated question time and again, “What’s the best way to send my money abroad?” Because to date, there hasn’t been a cost-effective, transparent solution available.
SWIFT transactions—which are anything but—are expensive, just like Western Union. Thai Bank transfers for foreigners involve tedious forms and multiple document verification followed by a three-day wait just to attach an international account to your personal one. That’s before you then suffer the high exchange rates and processing fees of up to, and beyond, 1300 THB. Attaching a business account—don’t bother trying.
Sure, it’s free to send money through PayPal, but your recipient loses out on a significant chunk at the other end thanks to the company’s high commission charges which take some finding on their website. Payoneer’s ‘Global Payment Service’ is yet to include THB. So first, you need to exchange your money before you can ACH it across to another country. And TransferWise doesn’t offer the capability to upload THB. (Yes, you can trade THB, but you can’t add it to your balance—even with the new borderless account.)
But what am I telling you this for? You know all this already and have chalked up the frustrations to “This Is Thailand.”
There is, however, a new solution. At the top of Soi 8 on Sukhumvit Road is the headquarters for DeeMoney. With just one form of ID, you can register to become a member in a matter of moments. DeeMoney is the ONLY non-bank in Thailand to hold the required special international money transfer and money exchange licenses, issued by the Bank of Thailand, for moving THB abroad. We cater to 5000+ customers already.
Launched in July 2018, DeeMoney is partnered with Moneygram for global distribution. We also leverage direct partnerships for countries outside of the Moneygram network to ensure customers can send money to 16 countries as swiftly and easily as possible. For these 16 countries, we charge a single FLAT fee of 150 baht for ALL transfer amounts. Which means you can send up to 800,000 THB and still only pay 150 THB for the opportunity.
Compare this with other companies and banks mentioned above which stagger rates the more you wish to send, and the savings become astronomical.
In addition to ease of registration, there’s also a DeeMoney app available on Android and from the App Store. The app works with KPlus linking quickly and easily to your Thai bank account or you have the option to pay for your transfer through a QR Code too. Now you can send money abroad anytime, anywhere all from your phone. There’s no need to log on to a laptop to make an international bank transfer—consider that a thing of the past.
The 150THB FLAT rate is for transfers to Australia, Bangladesh, Cambodia, India, Indonesia, Malaysia, Myanmar, Nepal, New Zealand, Pakistan, Philippines, Singapore, Sri Lanka, the UK, the US, and Vietnam.
No hidden charges. No high exchange rates. No additional transaction fees. Everything is as clear as Dee.
These leaders will also take part in the two-day ASEAN-India Commemorative Summit in the national capital beginning Thursday.
In a first, leaders of 10 countries from the Association of Southeast Asian Nations (ASEAN) member-states will be present as chief guests during the Republic Day celebrations this year. The leaders participating in the Republic Day parade are President Joko Widodo of Indonesia, Prime Minister Lee Hsien Loong of Singapore, Prime Minister Nguyen Xuan Phuc of Vietnam, Prime Minister Najib Razak of Malaysia, General Prayuth Chan-o-cha of Thailand, Aung San Suu Kyi of Myanmar, Philippines president Rodrigo Duterte, the Sultan of Brunei Haji Hassanal Bolkiah, Prime Minister Thongloun Sisoulith of Laos and Hun Sen, the Prime Minister of Cambodia.
These leaders will also take part in the two-day ASEAN-India Commemorative Summit in the national capital beginning Thursday. The event will mark 25 years of India’s ties with the southeast Asian bloc.
Here’s a look at all the 10 heads of the state
General Prayut Chan-o-cha, Prime Minister, Thailand
Thai Prime Minister Prayuth Chan-ocha participates(file photo)
Prayut Chan-o-cha is a retired Royal Thai Army officer who is the head of the National Council for Peace and Order (NCPO), a military junta, and concurrently serves as the Prime Minister of Thailand. The council, which he appointed himself along with other junta members, has the power to name the prime minister and control prime ministerial position.
Prayut is a former Commander in Chief of the Royal Thai Army, the post he held from October 2010 to October 2014. After his appointment as army chief, Prayut was characterised as a strong royalist and an opponent of former prime minister Thaksin Shinawatra.
He last visited India in June 2016. PM Modi travelled to Thailand in November 2016.
Both countries had a trade relation worth $ 7.72 billion in 2016.
Hun Sen, Prime Minister, Cambodia
Cambodia’s Prime Minister Hun Sen (Reuters photo)
Hun Sen has been the prime minister of Cambodia since 1985, making him the world’s longest-serving prime minister, the longest serving head of government of Cambodia, and one of the longest serving leaders in the world. He is known for Cambodia’s post Khmer Rouge economic turnaround, but criticised for human rights record.
Hun Sen will lead a delegation that will meet key Indian leaders to discuss bilateral ties and strengthen the relationship between the two countries during his bilateral state visit on January 27. His last visit to India came in 2012.
India share strong cultural ties with Combodia. In 2016, both the countries had a trade relation worth $ 153.13 million. India is helping in the renovation of the Angkor Wat temple.
Thongloun Sisoulith, Prime Minister, Lao PDR
Prime Minister Narendra Modi, left, with Laos’ Prime Minister Thongloun Sisoulith (AP Photo)
Thongloun Sisoulith has been the prime minister of Lao PDR since 2016. Previously, Sisoulithwas Deputy Prime Minister from 2001 to 2016, as well as minister of foreign affairs from 2006 to 2016. He is a politburo member of the Lao People’s Revolutionary Party.
Sisoulith met PM Modi in 2016 when Lao PDR hosted the ASEAN and East Asia Summits.
India had a trade relation worth $ 233.10 million in 2016-17. India holds regular defence training programmes; has extended line of credit for power projects.
Aung San Suu Kyi, State Counsellor, Myanmar
Myanmar State Counselor Aung San Suu Kyi (Reuters photo)
Aung San Suu Kyiis the leader of the National League for Democracy and the first and incumbent State Counsellor, a position akin to a Prime Minister in Myanmar. She is also the first woman to serve as Minister for foreign affairs, for the President’s Office, for Electric Power and Energy, and for Education in the country. From 2012 to 2016, she was an MP for Kawhmu Township to the House of Representatives.
Suu Kyi holds a special relationship with India. She last visited India in October 2016 before PM Modi’s visit to Myanmar in September 2017. India has been treading cautiously on global criticism for her silence on Rohingya crisis.
India’s trade relation with Myanmar in 2016-17 was worth $ 2.17 billion.
Lee Hsien Loong, Prime Minister, Singapore
Singapore Prime Minister Lee Hsien Loong (AP Photo)
Lee Hsien Loong is serving as the prime minister of Singapore since 2004. He took over the leadership of the People’s Action Party (PAP) when former Prime Minister Goh Chok Tong stepped down from the position to become the new senior minister. Lee then led his party to victory in the 2006, 2011 and 2015 general elections. He began his current term on 15 January 2016 following the opening of Singapore’s 13th Parliament. Lee is the eldest son of Singapore’s first Prime Minister, Lee Kuan Yew.
He is the current chair of ASEAN. He last visited India in 2017. It is very likely that PM Modi will travel twice to Singapore in 2018.
India share a strong relationship with Singapore as it is the second largest trading partner in ASEAN. The trade relation between the two countries was worth $ 16.7 billion in 2016-17.
Nguyen Xuan Phuc, Prime Minister, Vietnam
Nguyen Xuan Phuc (AP photo)
Nguyen Xuan Phuc is the seventh prime minister of the Socialist Republic of Vietnam. He is the sixth ranked member of the 12th Politburo. As a tradition in Vietnamese politics, Phúc is also a full member of the National Assembly, serving at its 11th, 12th, 13th and 14th terms. He was elected to the post of the National Assembly, nominated on April 8, 2016 by his predecessor, Nguyen Tan Dung, retired from his office. Phuc became a member of the Communist Party in Vietnam on November 12, 1983.
This is Phuc’s first visit to India as prime minister. PM Modi last went to Vietnam in 2016.
Vietnam has stood up to Chinese assertion in the region and is a key ally of India. The trade relations between the two countries during April-November of fiscal year 2016-17 was $ 6.24 billion. India is one of Vietnam’s top 10 trading partners.
Haji Hassanal, Sultan of Brunei
Hassanal Bolkiah with former Vice President Hamid Ansair (file photo)
Hassanal Bolkiah, GCB GCMG (full name: Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar Ali Saifuddien Sa’adul Khairi Waddien Sultan and Yang Di-Pertuan of Brunei Darussalam) is the 29th and current Sultan and Yang Di-Pertuan of Brunei. The eldest son of Sultan Omar Ali Saifuddien III and Raja Isteri (Queen) Pengiran Anak Damit, he succeeded to the throne as the Sultan of Brunei, following the abdication of his father on October 5, 1967.
He is among the richest persons in the world and has been the King since 1967. He last visited India in May 2008.
India shared a bilateral trade worth $ 495.54 million in 2016.
Joko Widodo, President, Indonesia
Prime Minister Narendra Modi with Indonesian President Joko Widodo (File Photo)
Joko Widodo, also known as Jokowi, is the seventh President of Indonesia and has been in office since 2014. Previously, he served as the Mayor of Surakarta from 2005 to 2012 and Governor of Jakarta from 2012 to 2014. He is the first Indonesian president without a high-ranking political or military background.
He last visited India in December 2016. It is likely that PM Modi will travel to Indonesia this year.
Indonesia is the largest trading partner of India in ASEAN. Both countries had a trade of worth $ 17 billion in 2016-17. India is the second largest buyer of coal and crude palm oil from Indonesia.
Mohd Najib bin Tun Abdul Razak, Prime Minister, Malaysia
Malaysia’s Prime Minister Najib Razak in Kuala Lumpur, Malaysia December 7, 2017. (REUTERS/Lai Seng Sin
Dato’ Sri Haji Mohammad Najib bin Tun Haji Abdul Razak is the sixth Prime Minister of Malaysia. He succeeded Dato’ Seri Abdullah Ahmad Badawi who did not seek re-election as Umno President. He is the President of the United Malays National Organisation, the leading party in Malaysia’s ruling Barisan Nasional coalition.Najib is the eldest son of Abdul Razak Hussein, Malaysia’s second Prime Minister, and the nephew of Hussein Onn, Malaysia’s third Prime Minister.
He last visited India in March-April 2017. PM Modi last paid a visit to Malaysia in November 2015 for bilateral, ASEAN and East Asia Summits.
Both countries had a bilateral trade worth $ 11.72 billion in 2016.
Rodrigo Roa Duterte, President, Philippines
Philippine President Rodrigo Duterte (File)
Rodrigo “Rody” Roa Duterte, also known as Digong, is a Filipino lawyer and politician who is the 16th President of the Philippines. He is the first Mindanaoan to hold the office. At 71 years, Duterte is the oldest person to assume the Philippine presidency; the record was previously held by Sergio Osmena at the age of 65.
Duterte became Davao City mayor in 1988 and was re-elected six times after forging a reputation for being tough on crime. He earned a decisive victory in his country’s 2016 presidential election, but soon drew criticism for his support of extrajudicial killings and threats to cut diplomatic ties with the US.
He is known for his controversial remarks and style. PM Modi met him in Manila in November 2017 at ASEAN and East Asia Summits. He is visiting India for first time.
Both the countries had a bilateral trade worth $ 1.98 billion in 2016-17.
Participants of the BIMSTEC Outreach at BRICS Summit 2016 have joined in mourning for the late His Majesty the King Bhumibol Adulyadej.
At the summit, taking place in Goa of India, representatives of 11 countries comprising the 5 BRICS nations of Brazil, Russia, India, China and South Africa and the 7 BIMSTEC countries of India, Bangladesh, Nepal, Bhutan, Sri Lanka, Myanmar and Thailand joined together to observe a minute of silence in reverence of His Majesty the King.
The moment of mourning was led by Indian Prime Minister Narendra Modi who voiced his condolences towards Thailand.
Brazilian President Michel Temer remarked his nation also mourned the loss of Thailand’s monarch, who had sacrificed and contributed greatly to the happiness of his people and performed royal activities across the world.
Bhutan’s prime minister relayed his grief and sympathy to the Thai prime minister’s representative Weerasak Futrakul.
Information and Source
Reporter : Itiporn Lakarnchua Rewriter : Itiporn Lakarnchua National News Bureau & Public Relations : http://thainews.prd.go.th
India, Thailand and Myanmar are working on a 1,400-kilometre-long highway that will link India with Southeast Asia by land for the first time in decades, giving a boost to trade and cultural exchanges between the three countries.
Indian ambassador to ThailandBhagwant Singh Bishnoi said 73 bridges in Myanmar, built more than seven decades ago during World War II, were being renovated with funding from India to allow vehicles to cross the highway safely.
When the repair work will be completed in 18 months, the highway could be opened to traffic from all three countries, he said.
The planned highway starts in India’s Moreh to Myanmar’s Tamu city.
Negotiations are currently underway to conclude a trination motor vehicle agreement for the use of the 1,400km road that will reach Thailand at Tak, Mae Sot district.
“There has always been a meeting of minds between India and Thailand. Our two countries share cultural, spiritual and linguistic links. With this road we will also have physical connectivity,” Bishnoi told PTI.
The road will help in transportation of goods and further development of SMEs in north India, he said, adding the tri-nation highway exemplifies India’s “Act East” policy.
Myanmar’s Dawei deep-sea port and industrial estate project near the Thai border is also expected to help further integrate eastern India with South East Asian countries.
The planned port can be linked up with India’s Chennai port as well as Thailand’sLaem Chabang Port on the other side of the ocean, the envoy said.
“The agreement is ready and it will be signed in 15 days.”
India will sign a trilateral road agreement in the next 15 days with Myanmar and Thailand with a view to promoting trade and tourism in the region, Road Minister Nitin Gadkari said on Thursday.
“We will sign a road agreement with Myanmar and Thailand to link the North-East to the two East-Asian countries. the agreement is ready and it will be signed in 15 days,” he said at the India Today Conclave here.
The trilateral pact between India-Myanmar-Thailand (IMT) will provide a seamless vehicular movement between SAARC and ASEAN nations and will enhance trade, business, health, education and tourism between India and the two countries.
Gadkari said the landmark Bangladesh, Bhutan, India, Nepal (BBIN) Motor Pact has already been inked with identification of 14 routes for passenger services and 7 routes for cargo movement.
To check road accidents, the Minister said government has issued directions to concerned agencies for the rectification of 726 black spots, which cause a high number of accidents in the country.
India accounts for about 5 lakh road accidents a year in which 1.5 lakh people die and 3 lakh are crippled.
On ports, Gadkari, who also hold the portfolio for Shipping, said concerted efforts by government has improved the performance of the ports.
He added that his ministry expects at least Rs 6,000 crore in cumulative profit for 12 major ports and three flagship organisations.
“For the first time, all our 12 major ports and three flagship bodies – Cochin Shipyard, Shipping Corporation of India and Dredging Corporation of India are poised for over Rs 6,000 crore profit this fiscal,” he added.
The smoothly winding road through green paddy fields and mountains made my first highway motorbike trip a breeze.
I didn’t see even one small pothole in the 100-mile-long (161-kilometre) India-Myanmar Friendship Road, built in 2001 by Indian engineers to increase trade between the two countries.
My ride was slowed, however, by the 71 bridges between Kalay township and the border town of Tamu. These are made of wood, and as it was my first experience on such roads, it took me five hours to complete the journey. The many warning billboards in English and Myanmar did not help my concentration.
I arrived at the “Welcome to Tamu” sign in the dark, but my eyes had already adjusted from riding for two hours as night covered the hills. My friends and I passed only some small villages with electricity.
The India-Myanmar border at this point is unique because while others are connected by river or mountain, Tamu in Myanmar and Moreh in India are easily crossed by land, divided only by a barbed wire fence. This had made me eager to visit.
As soon we entered the town, we saw that many Indian people were living together with Myanmar, Chin, Kuki (a Chin minority) and Gawrakha people. We also noticed that, despite frequent electricity cut-offs, the internet connection here was much better than in Yangon.
It was cold, too, and although we thought we might find an Indian or Chin traditional restaurant for dinner, all we could get were Chinese and Thai dishes.
The sunrise the next day quickly made the air very hot again so that the whole town appeared a yellowish colour. The locals seemed used to this.
Early in the morning we visited Nang Phar Lon market, which is a famous trading point and gateway between the two countries. We found only dried coconuts, however, and betel nuts. It wasn’t much different from any other market in the country, except that the people here exchange rupees rather than kyat (1 rupee equals about K16).
Ko Kyaw Kyaw Lin, a native of Tamu and a dry-goods trader, told us that the border gate had been closed for two weeks last month but that the local merchants hadn’t suffered much in their business.
“The gate is often closed, but not for a long period,” he said. “Authorities close the gate for two or three weeks mostly without giving any reason. Then, the prices of goods go up and down.”
Another seller told us that now was the season for betel nuts. “No matter the quality of the nuts, traders are buying and making ready-made betel packages that they distribute throughout Myanmar,” he said.
After betel would come the season for coconuts, watermelons and myauk ngo fruits, other locals said.
The border area is also famous for scented woods like nant thar phyu and karamah, rare scented woods that are used to make sculptures, fans, drums and traditional medicine in both India and Myanmar. It’s expensive, and much wood marketed as the real thing is in fact fake. And it wasn’t easy to find out where to buy the good stuff because the wood is handled by a group of Indian merchants, shopkeepers explained.
In the past, almost all traders had to sell under the terms of Indian merchants because all trade took place in Moreh, Ko Kyaw Kyaw Lin explained.
“The prices were unfair, but if they didn’t go to Moreh, no Indian came to buy in Myanmar,” he said.
The sun was beating down hotly, but the locals didn’t seem to sweat although their bodies were wrapped in Indian saris and they wore no head covering.
We crossed easily into India. Only traders have to pay an entrance tax. Near to the gate, Indian rickshaw drivers were waiting for passengers.
Some areas near Tamu and Moreh have not yet been clearly divided and arguments over land have been known to cause some aggression among people on both sides.
“Until last year, we heard gunshots come from some problem areas on the borderline, but now we haven’t heard a shot for months. We hear only some voices and marching and shooting guns from India in the evening, and we think they’re training soldiers,” a local said.
It was already midday, and I knew I didn’t have enough time to study the trading system and lifestyles of the minority groups in Tamu. Though I wanted to stay longer, I had to go back to Kalay, which would take me another five hours again of crossing wooden bridges by motorbike.
DO THIS TRIP
Motorbikes can be rented in Kalay from Shinlon Hotel for K20,000 for two days. In Tamu, accommodation at Power Guesthouse costs K20,000 per night.
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has rescheduled its earlier plan to take a business delegation to Myanmar, Thailand and Cambodia. As per the feedback from the members of the pharmaceutical companies the council has rescheduled the trip from December 8 to 18, 2013 instead of earlier announced dates.
“After taking the feedback from the members, many have expressed concern that the earlier schedule was clashing with the upcoming CPHI India 2013 event. Based on their suggestions a new schedule has been proposed from second week of December 2013,” informed Raghuveer Kini, executive director, Pharmexcil.
According to the new schedule the business delegation will visit Yangon the capital city of Myanmar on December 8, 2013 and will host a buyer seller meet and conduct talks with their registration authority and members of health Ministry on December 9 & 10, 2013.
There after delegation will visit Thailand and conduct buyer seller meet with the local businessmen and their government authority in Bangkok on December 12 and 13. Finally the Indian business delegation will visit in Phnom Penh in Cambodia from December 15 and 17, 2013 and come back to India on December 18, 2013.
As the scheduled has been revised, interested members looking to become a part of the delegation will have to send their applications to the Council’s office and they can also send in their suggestions and innovative ideas to make the visit more fruitful.