Home Insider True Money Myanmar Unveils its First International Money Transfer

True Money Myanmar Unveils its First International Money Transfer

True Money Myanmar introduced True Money Transfer which can funds transfers from Thailand to Myanmar. True Money is waiving the transfer fees for all transactions up to October 31 to celebrate the introduction of the transfer service.

To use the True Money Transfer service, customers must register with using their ID and mobile phone number at True Money’s official agent shops. Later, the customer will get an 8-digit transaction code via SMS to registered mobile phone number. To get the cash, the receiver need to show ID, mobile phone number as well as 8-digit transaction code at any True Money Transfer spot in Myanmar.

By the end 2016, there are 250 transfer spots in Thailand and 681 transfer spots in Myanmar which can cover the migrant workers’ hometowns from Mon, Tarintharyi, Shan and Bago Divions. The service charge for money transfer starts from 50 Baht to 300 Baht, depending on the amount transferred. Customer can transfer up to around one million Kyats per day.

San Thaw Da Wun, Country Director of True Money Myanmar, said “the purpose of True Money Transfer is to give a safer, more comfortable as well as more secured fund transfer service to Myanmar migrants in Thailand. She added “it has never been that simple to transfer money internationally”. To date, True Money Transfer is available only for individual customers and allows sending money from Thailand to Myanmar. True Money has been operating in Myanmar since 2014 and currently, there is an office each in Yangon and Mandalay.