• 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