SCB partners with Ripple to offer a special promotion for “International Money Transfer Service via SCB EASY” at only 199 Baht per transaction

Stocks and Financial Services Press Releases Thursday July 9, 2020 11:41
Bangkok--9 Jul--Siam Commercial Bank

Siam Commercial Bank has teamed up with Ripple to offer a special “International Money Transfer via SCB EASY” promotion at only 199 Baht per transaction from the regular rate of 399 Baht per transaction. The promotion serves customers’ demands in four major currencies (US Dollar, Pound Sterling, Euro, and Singapore Dollar) in 12 countries: UK, US, Singapore, France, Germany, Italy, Spain, the Netherlands, Ireland, Austria, Belgium, and Portugal.

The service is powered by advanced blockchain technology by RippleNet, Ripple’s global financial payments network, that makes it easy for its diverse network of financial institutions worldwide to enable faster, lower-cost payments around the world. The service provides more convenience for customers as transactions can be performed via the SCB EASY app anywhere at any time. In addition, customers are not required to apply for the service in advance or to attach any transfer proof. With e-slips being automatically provided for every transaction and saved on mobile phones, they can be used as transaction proof and shared with recipients via social platforms. The service is faster with real-time transfer where money arrives at destinations within a few seconds or up to five days, depending on destination systems. Customers can enjoy lower fees as no foreign bank fees will be charged, while recipients can get the full amount with a competitive exchange rate. The promotion will run from 1 st July – 31 st December 2020.

9 steps for Outward Remittance Service via SCB EASY powered by blockchain technology RippleNet

Log in to SCB EASY and select “Banking Services”Select “International transfer”Select “Preferred account”Select “Recipient Country”Input transferred amount either in THB or Recipient currency. The system will automatically calculate the exchange rate and select “Proceed”Input bank details, beneficiary’s details and address and select “Review”Review information and select “confirm” to make a transactionThe system provides an e-slip as proof of transactionSCB will send out 2 notifications: 1 st notification: SCB is processing the transaction, 2 nd notification: Successful transfer

About Siam Commercial Bank

The Siam Commercial Bank PCL established by Royal Charter in 1906 as the first Thai bank. As of March 31, 2020 the Bank had, on a consolidated basis, Baht 3,136 billion in total assets and Baht 235 billion in market capitalization. The bank is one of Thailand’s leading universal banks which provides a full range of financial services to clients in all segments, including wholesale, SMEs and retail banking services, through its nationwide branch network. SCB commits to becoming “the Most Admired Bank” by balancing value propositions to all stakeholders - customers, employees, shareholders, regulators and society - and a leader in shaping the future of Thailand’s banking industry. More information is available on the Bank’s website at www.scb.co.th

About Ripple

Ripple enables payments everywhere, every way, for everyone using the power of blockchain. By joining Ripple’s growing, global network (RippleNet), financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. With offices in San Francisco, Washington D.C., New York, London, Mumbai, Singapore, S?o Paulo, Reykjavik and Dubai, Ripple has more than 300 customers around the world.


Latest Press Release

Banpu reports overall stable performance in the first half of 2020 Gearing investment towards instant cash-flow generating businesses

Banpu Public Company Limited (BANPU), a leading integrated energy solutions company in Asia Pacific, achieved stable results for the first half of 2020 through its key focus on increasing and maintaining cash flow by the acceleration of closing of...

PTTEP remains constituent member of “FTSE4Good Index Series” for the 5th consecutive year

PTT Exploration and Production Public Company Limited (PTTEP), a Thai E&P company dedicating to providing a sustainable petroleum supply, continues to be recognized as a constituent member of the FTSE4Good Index Series for the 5th consecutive year....

WHAUP Expects Business Recovery in the Second Half of this Year Ready to Move Forward with Utilities and Power Businesses

WHA Utilities and Power Public Company Limited (WHAUP) announces its first half 2020 performance with revenue and normalized share of profits at Baht 1,282 Million and net profit of Baht 361 Million, while normalized net income is at Baht 397 Million....

SET appoints EVP in charge of IT development

The Stock Exchange of Thailand (SET) has appointed Pattana Wongnirund as Executive Vice President (EVP), Head of Information Technology Development Group, Information Technology Division, effective August 16, 2020. SET President Pakorn Peetathawatchai...

PTL posts upsurge in Q1 profit

The flexible packaging industry witnessed an increase of 30-40% in demand for PET thin film in Q1. Flexible packaging accounts for approximately 70-75% of PTL revenues. As a result, Polyplex (Thailand) Plc (PTL)’s normalized net profit in Q1...

Related Topics