Some two million Myanmar laborers working in Thailand are set to benefit from a new money transfer service from True.
The company have been granted permission from the Bank of Thailand to operate the service after Myanmar people had problems at banks.
True Money looks to cut into the estimated 12 million transactions between the two countries each year.
The two million workers her are reckoned to send money back on average six times a year and 6,650 baht a time. This amounts to 77 billion baht a year, said the company.
The workers will have 250 outlets nationwide to chose from to send the money and transfer fees will be as low as 50 baht a time.
True are working with an Asian development bank and expect more than 2 million transactions before the end of the year.
Via: Daily News