KBank Executive Vice President Mr. Silawat Santivisat said KBank has joined hands with Kanbawza Bank (KBZ), which is Myarmar's commercial bank with the largest branch network and customer base, to issue the Myanmar Remit Card for convenient, rapid and safe funds transfer to Myanmar. With barcode scanning of the cards at 9,000 K-ATMs nationwide, Myanmar workers in Thailand transfer can up to THB100,000 per day per recipient account. The recipients can receive funds in Myanmar Kyat (MMK) within one day at any of the 400 KBZ branches, or withdraw cash from 800 ATMs of KBZ Bank. Senders will enjoy transfer fee exemption without limitation of transaction numbers, now until November 15, 2017. Afterward, the fee will be charged at THB200 per transaction.
Interested customers can apply for Myanmar Remit Card at any KBank branch, especially 25 branches located in areas where there are many Myanmar workers. Once applications are processed, the card can be picked up immediately at Bang Bon, Thanon Rama II, Yan Nawa, Central Rama II and The Mall Bang Kapi branches, plus those located in Samut Prakan, Samut Sakhon, Nakhon Pathom, Phetchaburi, Tak, Songkhla, Chiang Rai and Chon Buri.
Mr. Silawat added that Myanmar Remit Card is the first of its kind in Thailand, given its special features allowing cardholders to process direct money transfers to Myanmar via ATMs by scanning only the barcode on their cards. KBank has developed this service to meet customer needs for greater convenience, speed and safety for money transfers as part of our strategy to promote Thailand to become a settlement hub within CLMV.
Currently, there are over four million Myanmar workers in Thailand. Most of them typically transfer money back home via non-financial institution channels, in particular a third person to directly deliver money to their relatives. Although Myanmar workers here are most familiar with these channels and find them easier reached, there is a risk that the recipients may not get the full amount of money or nothing at all. Myanmar Remit Card is among the many services that will help steer KBank to become a regional bank in AEC+3.
An application for Myanmar Remit Card can be made at any KBank branch. For more information, please call our K-Contact Center, Tel. 02-8888888, press 879 for Myanmar language.