KBZPay and K PLUS partner to offer cross-border digital remittance from Thailand to Myanmar
The partnership between KBZPay, Myanmar’s largest e-wallet, and KBank, a leading digital banking solution provider in Thailand, is aimed at offering a unique cross-border digital remittance experience for migrant workers in Thailand. This collaboration allows customers to transfer money directly to their friends or family members in Myanmar using a smart, convenient, secure, and entirely digital process and in real-time.
By leveraging the capabilities of KBZPay’s e-wallet platform and KBank’s digital banking solutions – K PLUS Mobile Banking, this partnership aims to simplify and enhance the remittance process for Myanmar customers in Thailand. They can now transfer money from K PLUS directly to the KBZPay wallet of their families/friends in Myanmar without the need for visiting the bank as before.
It offers greater convenience as customers can initiate transfers through their smartphones at any time and from anywhere through K PLUS Mobile Banking to KBZPay’s e-wallet. Moreover, the process is more secure, leveraging the advanced security measures and technologies powered by both KBZPay’s e-wallet and K PLUS Mobile Banking.
As a special promotion, there will be free of charge for every transaction starting from 16th August to 31st October, 2023.
It’s just a simple step to transfer money directly to a KBZPay account through K PLUS mobile banking.
Beneficiaries in Myanmar can check K PLUS remittances through KBZPay’s Transaction Message or History and each transaction allows a maximum transfer of 5,000,000 MMK to the KBZPay wallet per day. The beneficiary’s KBZPay account needs to be at Level-2 in order to receive the transfers.
Beneficiaries can receive funds in real-time, including on weekends and public holidays. They can also withdraw cash from KBZ Bank branches, ATMs, KBZPay Centers, and KBZPay Agents, subject to the cash withdrawal limits.
Limit & Fees
|Transfer from K PLUS to KBZPay||Minimum 100,000 MMK to Maximum 5,000,000 MMK (per transaction)||From 50 Baht to 250 Baht as per transaction limit|
|Cash out at KBZPay agent||Maximum 1,000,000 MMK (per day)||From 300 MMK to 7,800 MMK as per withdrawal limit|
|Cash out at KBZPay Center||Maximum 1,000,000 MMK (per day)||From 300 MMK to 7,800 MMK as per withdrawal limit|
|Cash out at KBZ Branches||Maximum 1,000,000 MMK (per day)||From 300 MMK 7,800 MMK as per withdrawal limit|
|Cash out at ATM (KBZPay ATM cash out)||Maximum 1,000,000 MMK (per day)||No fees for 0-300,0000.3% for 300,001-500,0000.5% for 500,001-1,000,000|
For more information, please contact the KBZPay call center at 3211.