Frequently Asked Questions

We are licenced as a Major Payment Institution (PS20200042) by the Monetary Authority of Singapore and are governed by the Payment Services Act.

We have had the privilege of holding a Remittance and Money-Changing licence for over 20 years governed by the Money-changing and Remittance Businesses Act (MCRBA) which has been phased out.

If this is your first time, we’ll first need to verify your identity. You can do so by visiting any of our locations.

If you choose to transact at our branch, our friendly Customer Success Specialists will assist you every step of the way and provide the service you need to move your money overseas.

The time it takes to fulfil your transaction will always be made known to you before you confirm and make payment. Most MoneyGram and
Western Union transactions are fulfilled within 5 minutes, and most AmpleSend transactions are fulfilled within 1 working day. Depending on the destination country, your transaction may take up to 5 bank working days to be credited at the very latest.

We’re always improving our services in order to deliver faster turnaround times at greater savings. Sign up for our newsletter to know when a better service is available for your destination country.

In a market as volatile and unpredictable as remittance (a subset of foreign exchange), industry players are always head-to-head with
each other in exchange rates or transaction fees. We always try our best to leverage our network to obtain the best possible exchange rates and
transaction fees available.

Being governed by the Payment Services Act, we are charged with safeguarding your funds through a framework of proper procedures before your transaction is fulfilled on the receiving end. Rest assured that we will always make every effort to contact you for a refund in the case that your funds are undelivered to your beneficiary.

As our business primarily provides cross-border payment services, we are required to perform due diligence checks and carry out proper
record-keeping for all financial transactions, just like any bank. We are only obligated to disclose to the Authority and are not allowed to - nor will ever -
sell your data to any unauthorised third party.

Being a Major Payment Institution, we are one of the many gatekeepers of the cross-border flow of funds. We are honoured to have an obligation to perform compliance checks on all transactions in order to manage the risk of money laundering and/or terrorism financing.

In rare cases, this may result in your transaction being held while we seek to clarify the intent and origin of the funds in order to protect you –
the customer – as well as your beneficiary from any financial crime. We apologise in advance for any inconvenience that this may cause.