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CARDS & PAYMENTS | Cesar Tordesillas, Thailand

Postal services tapped for Thai transfers

Bangkok Bank has cooperated with postal services in Japan, South Korea, and Israel for transferring funds to recipients' accounts at Thai banks.Bangkok Bank's Global Payment Service Department Manager Thanit Sirichote said that these new channels allow customers in Japan, South Korea, and Israel to use any one of thousands of post offices in these countries to directly transfer to recipients' accounts at Bangkok Bank as well as other banks in Thailand.The new service offers the customers more convenience and lower transfer fees. The exact level of the fees depends on the countries of origin, however they are cheaper than the fees charged by normal transfer channels."Records of funds transfers from Japan, South Korea, and Israel indicate that customers using the service are mostly Thai workers in those countries who need a cost-effective channel to transfer money to their families in Thailand on a regular basis. Bangkok Bank has therefore co-operated with the post service in each country to meet the needs of these customers. For example, when transferring money from Japan, the sender saves fees both at the counter in Japan and upon arrival at Bangkok Bank in Thailand," said Sirichote.

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