SingPost now offering Visa Money Transfer

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 provider.

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 other countries.”

“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 Sin$9.00 per transaction applies.

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