Dime

Dime Review: Is Dime any good?

Overview and general information: Is Dime reliable?

Dime! is a savings and investment application developed by KKP Dime Securities Co., Ltd., a part of Kiatnakin Phatra Financial Group. Launched in 2022, the app aims to revolutionize saving and investing for Thais and has quickly gained popularity, with over 150,000 downloads within four months of its launch.

Licensing and regulation

If you're wondering whether Dime is any good, you'd have to start by considering its licensing status, which...KKP Dime Securities Co., Ltd., the provider of the Dime! application, has received a securities business license from the Securities and Exchange Commission of Thailand (SEC).License No. LK-0007-02, Category A (Securities Brokerage)

⚠️The license information has been uploaded to the platform; however, a request for verification has not yet been submitted.License Monitoring Program (LMP)fromTrustFinanceTherefore, we cannot confirm the validity or currency of the licenses. Users should exercise caution and carefully consider the information before making any investment decisions.

Furthermore, the Dime! Save savings account and the Dime! FCD foreign currency deposit account offered through the Dime! application are products of Kiatnakin Phatra Bank, which is under the supervision of the Bank of Thailand.

Protection of interests

• The Dime Save savings account is protected under the Deposit Protection Act up to 1 million baht per depositor account.

• If you invest in securities and US dollars, you will be protected up to $500,000 per account by SIPC, a US non-profit organization.

Products and services

Invest in assets.

• Thai Stocks: Although many currently say that Thai stocks are no longer a worthwhile investment, some investors still view them as a good savings option, as many stocks consistently pay high dividends.

• US Stocks: America is considered an investment paradise because the country has created numerous world-changing innovations. Furthermore, the "Magnificent Seven" stock groups are among the most influential stocks in the world.

• Bonds: Bonds are considered a suitable financial product for investors seeking consistent returns.

• Mutual funds: Considered a continuously popular investment product among investors, this app offers the opportunity to invest in over 1,700 mutual funds from 20 asset management companies.

• Gold: A highly stable asset, it has been a symbol of wealth from ancient times to the present. Investors can start investing with as little as 100 baht or 2.50 USD.

Deposit services

There are two ways to deposit funds through the Dime app: Dime Save and Dime FCD.

Dime Save 

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

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

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

Dime FCD 

• Interest at 5% per annum on the portion not exceeding US$3,000.

• Interest at 4% per year on amounts exceeding $3,000 but not exceeding $100,000.

• Interest of 0.5% per year on amounts exceeding $100,000 USD.

noteFor Dime Save and Dime FCD, interest is calculated daily and paid every six months on June 30th and December 31st of each year.

Dime Review: Fees

Fees for trading Thai stocks.

• First trade of the month: Commission-free.

• Subsequent trades within the same month: A commission of 0.15% of the trade value will be charged.

• Other fees:

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

  • Securities settlement and delivery fee (TSD Clearing Fee): 0.001% of the trading value.

  • Regulatory Fee: 0.001% of the trading value.

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

Fees for trading US stocks.

• First trade of the month: Commission-free (includes Thai stock trades).

• Next trading items in the same month:

  • If the share price is below $6.67 per share: Commission fee is $0.01 per share.

  • If the share price is $6.67 or higher: A commission of 0.15% of the trading value will be charged.

• Other fees:

  • U.S. Stock Exchange of Thailand (SEC) Fee: 0.00278% of the share sale value.

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

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

Dime Bonuses and Promotions

Dime! Lucky Friend Referral Promotion

• Go to the Dime app, click on the "Me" menu, and select the "Invite Friends to Use Dime!" task.

• Copy the code to invite friends, then send the link to your friends to enter.

• If your friend enters the code, they can click the claim button to receive US stock worth 50 Thai baht.

Dime! Fan Package

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

Deposits and withdrawals

Deposit

• Dime! Save Savings Account

  • Users can deposit funds into their Dime! Save account via bank transfer from another banking application, selecting "Kiatnakin Phatra Bank" as the recipient bank and using the Dime! Save account number received from the app.

• Dime! Foreign Currency Deposit Account (FCD)

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

Withdrawal

• Dime! Account Save

  • Users can transfer funds from their Dime! Save account to another bank account directly through the Dime! app by selecting the “Cash” menu and following the transfer instructions.

• Dime! FCD Account

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

Customer support and service.

There are various channels for investor support 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 via Line ID: @dime.finance

Dime Review: Pros and Cons

strength

• Easy to use, convenient, and allows for self-directed buying and selling.

• Investment products include stocks, funds, and gold.

• Low commission and fees.

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

• There are savings accounts that offer high interest rates.

weakness

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

• There is no margin lending system available.

• There are hidden costs associated with taxes and share transfers.

In summary, is Dime a good review?

Dime!This is a savings and investment application that meets the needs of modern investors, with the key feature of integrating financial services into a single app. This includes a high-interest savings account offering up to 3% interest, investment in foreign stocks starting from just 50 baht, and user-friendly features such as the ability to customize transfer slips for sharing.

However, the app still has limitations, such as the limited number of foreign stocks available (only US stocks), no support for cardless cash withdrawals, and some features still under development. Overall, Dime! is suitable for those who want to start saving and investing conveniently on a single platform, with the highly reliable support of Kiatnakin Phatra Financial Group.

Frequently Asked Questions about Dime

Q: Is Dime reliable?

A: Dime! is operated by KKP Dime Securities, a part of Kiatnakin Phatra Financial Group. It is licensed by the Securities and Exchange Commission (SEC) and regulated by the Bank of Thailand, ensuring the safety and reliability of its services.

Furthermore, for investments in foreign stocks, Dime! provides protection through SIPC (Securities Investor Protection Corporation), a US-based organization that protects assets in investment accounts up to $500,000 (including up to $250,000 in cash) should the related US brokerage firm go bankrupt. This protection provides added confidence for investors using the service, especially in foreign stock markets.

Q: Who is Dime suitable for?

A: Dime! is ideal for beginners who want to save and invest in both Thai and international stocks, as well as those who want to manage their money on an easy-to-use and fast platform.

Q: What are the trading fees on Dime?

A: Trading Thai and US stocks through Dime! is commission-free for the first transaction of the month. Subsequent transactions are subject to a 0.15% commission on the trading value, along with other fees such as market fees and regulatory fees, which are transparently displayed in the application.