The upgrade to WorldRemit’s Thai service enables workers living overseas to send money back home without the need for an additional foreign exchange transaction at the receiving bank.
International remittances are an important contributor to the economy of Thailand, with an estimated USD 5.5 billion being received in 2013, according to the World Bank.
The amount of money received from overseas by people in Thailand has risen sharply in the past five years, with an average increase of 25% per year, compared to an annual increase of just 5% between 2004 and 2008.
WorldRemit is a global online money transfer business. Migrants and expats from 35 countries can make online payments to families and friends in over 100 destinations. Customers can use WorldRemit on their computer, smartphone or tablet. For those receiving money, WorldRemit provides a range of options including bank deposit, cash collection, mobile money, and mobile airtime top-up.
In recent news, WorldRemit has unveiled that it enables customers to send funds to friends and family in Indonesia who use Indosat’s Dompetku mobile money service.
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