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CASH MANAGEMENT | Staff Reporter, Thailand

Kasikornbank ties up with DBS to extend funds transfer service to Singapore

The bank's inward fund transfer system can accommodate $45,085 at a time per day.

Kasikornbank has tied up with Singapore’s DBS to provide real-time inward funds transfer from Singapore or via KBank to recipient accounts in 21 other Thai banks, according to a media statement.

With the new service, the transfer will be automatically verified before crediting into a KBank account on a real-time basis.

The new service also enables the sender to check the account name and status of the recipient before the actual fund transfer process.

The system can accommodate up to $45,085 (THB1.5m) in funds transfer at a time per day.

KBank is planning to roll out the service to other AEC countries for broader coverage in the future.

The bank is also introducing outward transfer service on K PLUS application for recipients i more than 40 countries by October.

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