Visa and Singapore Post Limited
(SingPost) are now offering a new Visa Money Transfer remittance service from 51 designated post offices
in Singapore enabling the transfer of money to nine markets around the world.
The SingPost Visa Money Transfer service enables money to be sent to Visa cardholders in nine countries in Australia, China, India,
Indonesia, Malaysia, Philippines, Sri Lanka, Thailand and the United Kingdom. It is the
first time Visa Money Transfer has been made available through a postal service
Visa International country manager for Singapore and Brunei, Ms Meranda Chan,
said, “We are delighted to partner with SingPost. Customers have traditionally gone to
SingPost to send letters, cards or packages – now they can send money with the same
ease and security via Visa Money Transfer. With SingPost Visa Money Transfer we are
making it easier for people to send funds conveniently to their families and friends in
“Instead of having to travel to a bank branch or agent location, recipients can use the
funds they receive on their Visa card at any of the 29 million Visa merchant outlets
worldwide,” Ms Chan said.
Its ease of use is one of the key attractions of the SingPost Visa Money Transfer service.
All the customers need to do is to register for a CASHOME card at any of the 51
SingPost post offices offering Visa Money Transfer. A CASHOME
card is an identification card for customers to use to remit funds, removing the hassle of
filling out forms each time they wish to transfer funds. Whenever customers
wish to remit money, they simply provide the recipient’s 16-digit Visa card number to whom they
wish to send the funds.
For subsequent money transfers, customers need only present their CASHOME card to
the SingPost staff and advise which pre-registered recipient they wish to send the
money to. The money transfer will be processed through Visa’s international network
and the funds credited to the recipient’s Visa account, who can then use his or her Visa
card at any Visa merchant or Visa/PLUS ATM.
Senders can remit a maximum of
Sin$3,500 per day. The exchange rate used will be the
prevailing rate quoted to the customer at the point of transaction. A flat fee of
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