Dime

Dime Review: Is Dime any good?

Overview and General Information: Is Dime Trustworthy?

Dime! is a savings and investment app developed by KKP Dime Securities Co., Ltd. (KKP Dime), part of Kiatnakin Phatra Financial Group. Launched in 2022 with the aim of revolutionizing the savings and investment constraints of Thais, the app has quickly gained popularity, with over 150,000 downloads within 4 months of its launch.

Licensing and Regulation

If you ask whether Dime is good or not, you have to start by considering the license factor first, which isKKP Dime Securities Co., Ltd. (KKP Dime), the service provider of the Dime! application, has been granted a securities business license by the Securities and Exchange Commission (SEC).License No. Lk-0007-02 Type A (Securities Brokerage)

In addition, Dime! Save Savings Account and Dime! FCD Foreign Currency Deposit Account provided through the Dime! application are products of Kiatnakin Phatra Bank, which is under the supervision of the Bank of Thailand.

Benefits Protection

• Dime Save savings account is protected under the Deposit Protection Act with a limit of 1 million baht per depositor.

• If invested in securities and US dollars, it is protected with a protection of $500,000 per account from the US non-profit SIPC.

Products and services

Invest in assets

• Thai stocks: Although everyone says that Thai stocks are not worth investing in these days, some investors still think that Thai stocks are a good source of savings because many stocks consistently pay high dividends.

• US Stocks: America is considered an investment paradise because the country has created many world-changing innovations. In addition, the 7 angel stocks, "Magnificent Seven", are also the most influential stocks in the world.

• Bonds: Bonds are considered a financial product that is suitable for investors who want consistent returns.

• Mutual funds: This is another investment product that is continuously popular among investors. The app allows investors to choose to invest in more than 1,700 mutual funds from 20 asset management companies.

• Gold: It is a highly stable asset. It has been a symbol of wealth since the past until now. Investors can start investing with only 100 baht or 2.50 USD.

Deposit services

There are two types of deposits via the Dime app: Dime Save and Dime FCD.

Dime Save 

• Interest rate 3% per year on deposits not exceeding 10,000 baht

• Interest rate of 1.5% per year on deposits exceeding 10,000 baht but not exceeding 1,000,000 baht.

• Interest rate of 0.5% per year on deposits exceeding 1,000,000 baht.

Dime FCD 

• Interest rate of 5% per annum on the amount not exceeding 3,000 US dollars (USD)

• Interest of 4% per year on the amount exceeding 3,000 USD but not exceeding 100,000 USD.

• Interest rate of 0.5% per year on the amount exceeding 100,000 USD.

Note: For Dime Save and Dime FCD, interest is calculated daily and paid every 6 months on June 30 and December 31 of each year.

Dime Review: Fees

Fees for trading Thai stocks

• First trade of the month: Free commission

• Next trading day in the same month: Commission 0.15% of trading value.

• Other fees:

  • Stock Exchange Fee (SET Trading Fee): 0.005% of trading value

  • Securities Clearing and Delivery Fee (TSD Clearing Fee): 0.001% of the trading value

  • Regulatory Fee: 0.001% of trading value

  • Value Added Tax (VAT): 7% of the above commission and fees.

Fees for trading US stocks

• First trade of the month: Free commission (including Thai stocks)

• Next trading list in the same month:

  • If the stock price is below $6.67 per share: Commission of $0.01 per share

  • If the stock price is $6.67 or more: Commission 0.15% of the trade value.

• Other fees:

  • US Securities Exchange Fee (SEC Fee): 0.00278% of the share sale value.

  • Sales Fee (TAF Fee): $0.000166 per share (maximum $8.30 per sale)

  • Value Added Tax (VAT): 7% of actual commission paid.

Dime Bonuses & Promotions

Dime! Lucky Friend Invite Promotion

• Go to the Dime app homepage, click on the "Me" menu, and select a mission. Invite friends to use Dime!

• Copy the code to invite friends, then send the link sharing password to friends to enter  

• If your friend enters the previous code, they can press the receive button to receive 50 Thai baht worth of American stocks.

 Dime! Fan Package

• Users who subscribe to the Dime! Fan package will receive additional benefits such as free commission for the first 5 trades of the month and flexible commission rates based on trade value.

Deposits and Withdrawals

Deposit

• Dime! Save Savings Account

  • Users can deposit money into their Dime! Save accounts via transfer from other bank applications by selecting the destination bank as “Kiatnakin Bank” and using the Dime! Save account number received from the app.

• Dime! FCD Foreign Currency Deposit Account

  • For foreign currency deposits, users can exchange currencies via the app by selecting the “Cash” menu and exchanging currencies between Dime! Save and Dime! FCD accounts as needed.

Withdrawal

• Dime! Save Account

  • Users can transfer money from their Dime! Save account to other bank accounts directly via the Dime! app by selecting the “Cash” menu and transferring money according to the specified steps.

• Dime! FCD Account

  • For foreign currency withdrawals, users can exchange currencies from their Dime! FCD account back to their Dime! Save account and transfer funds to other bank accounts as desired.

Support and Customer Service

There are various channels to support investor services as follows:

• KKP Dime Securities Co., Ltd. 252/10 Muang Thai-Phatra Office Building 1, 6th Floor, Ratchadaphisek Road, Huai Khwang Subdistrict, Huai Khwang District, Bangkok 10310

• General inquiries:[email protected] 

• appeal:[email protected] 

• Contact customer service at Line ID: @dime.finance

Dime Review: Pros - Cons

Pros

• Easy to use, convenient and fast, you can trade by yourself.

• Investment products cover stocks, funds and gold.

• Low commissions and fees

• Invest in US stocks with a minimum investment of only 50 baht.

• Have a savings account that offers high interest.

Cons

• There are no other foreign stocks, only US stocks.

• There is no margin system for lending.

• There are hidden costs in terms of taxes and share transfers.

Dime Review Summary: Is it good?

Dime!It is a savings and investment application that meets the needs of modern investors. Its outstanding feature is that it combines financial services in a single application, including savings accounts with interest rates as high as 3%, investment in foreign stocks starting at only 50 baht, and easy-to-use features such as decorating money transfer slips for sharing.

However, the app still has limitations, such as the number of foreign stocks that are only available in the US, cash withdrawals that are not supported via cardless systems, and some features that are still under development. Overall, Dime! is suitable for those who want to start saving and investing conveniently in one platform, with support from the highly reliable Kiatnakin Phatra Financial Group.

Frequently Asked Questions about Dime

Q: Is Dime trustworthy?

A: Dime! is operated by KKP Dime Securities, part of Kiatnakin Phatra Financial Group. It is licensed by the SEC and is regulated by the Bank of Thailand, ensuring the safety and reliability of the service.

In addition, for overseas stock investments, Dime! provides protection through the Securities Investor Protection Corporation (SIPC), a US organization that provides protection for investment account assets of up to $500,000 (including up to $250,000 in cash) in the event of the insolvency of the US brokerage firm involved. This protection provides additional confidence for investors using the service, especially in overseas stock markets.

Q: Who is Dime suitable for?

A: Dime! is suitable for beginners who want to save and invest in both Thai and foreign stocks, as well as those who want to manage their money on a platform that is easy to use and fast.

Q: What are the trading fees on Dime?

A: Trading Thai and US stocks via Dime! is commission-free for the first transaction of the month. Subsequent transactions are charged a commission of 0.15% of the trade value, plus other fees such as stock exchange fees and regulatory fees that are transparently displayed on the application.