Peer-to-Peer Cross Border Remittance

We offer a real-time API integration capability for cross border transfer from partner bank customer to the beneficiary at Krungsri or other banks in Thailand. Also, from the customer at Krungsri to the beneficiary at partner bank.
Our remittance APIs enables peer-to-peer remittance capability between partner bank and Krungsri, providing a faster service time and better experience to partner bank operation and partner customers

• Inward Remittance

Peer-to-peer Inward remittance is the remittance transfer directly from partner bank customers to Thailand. Partner customer will be able to transfer money (in Thai baht or foreign currency) from partner bank to the beneficiary account at Thailand real-time. We support both same-currency transfer and cross-currency transfer.
Partner customer comes to partner channel and requests for a cross border transfer to a beneficiary account at Krungsri. Partner system interfaces to Krungsri system seamlessly to proceed with the request plus payment processing only in 2 API calls.

High level steps:
 
   1) Sender submits remittance order to partner bank by specifying Krungsri account as beneficiary account
   2) Partner bank verifies the sender, sending account, and payment instruction information
   3) Partner bank sends payment instruction information, sender information, and beneficiary information to verify with Krungsri (A)
   4) After successful verification, Krungsri will respond Payment Reference Number, estimated credit amount and Beneficiary account name
   5) Sender verifies the information and confirm the payment to Partner bank channel
   6) Partner bank performs bank processing on their side. This may include remittance amount and fee (if applicable) from the sender (B)
   7) Right after successfully processing on transfer amount and fee on their side, partner bank then confirms to Krungsri to proceed with the payment to beneficiary
   8) Krungsri immediately credits remitted amount after fee deduction to beneficiary account
   9) Generate Debit Advise, send to partner bank and generate credit advise, send to beneficiary
   10) In case of exception occurs before inward remittance confirmation, we also offer API endpoints for partner bank to cancel the initiated transaction or to inquire for the transaction status whenever they would like
 

• Remittance Cancellation

In case exception occurs after the successful inward remittance initiation, partner bank can always call Remittance Cancellation to cancel the initiated transaction

• Remittance Transaction Inquiry

Partner bank can inquire for the remittance transaction initiated from their bank to Krungsri to check for transaction status or to retrieve transaction information for reporting or reconciliation

• Related API

   

Seq No. API Name API Endpoints
BConfirm inward remittance transactionPOST /rest/api/v2/consumerServices/remittance/inwards/confirmation
CCross Border - Remittance Transaction CancellationPOST /rest/api/v1/consumerServices/remittance/transaction/cancellation
DInquire the submitted remittance transaction V2POST /rest/api/v2/consumerServices/remittance/transaction/inquiry

Technical Detail

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