Singapore Post starts money transfer service to nine countries

Business Materials 6 February 2008 09:00 (UTC +04:00)

( dpa ) - Singapore Post Ltd is offering a money transfer service that allows customers to transfer funds to credit cardholders in nine countries, SingPost said Wednesday.

It is the first time a postal service provider has offered such remittances.

The service enables money to be sent to Visa cardholders in India, Thailand, Malaysia, the Philippines, Indonesia, Sri Lanka, China, Australia and Britain.

Senders are able to remit a maximum of 3,500 Singapore dollars (2,482 US dollars) a day with a fee of 9 Singapore dollars per transaction.

"We're making it easier for people to send funds conveniently to their family and friends in other countries," said Meranda Chan, Visa manager for Singapore and Brunei.