✅ Frequently Asked Questions (Cross-Border Funds Transfer (P2P/Remittance))
Which identifiers can be used for Cross-Border P2P transfers?
At this point of time, user can send funds to recipient mobile phone number or bank account number.
How do users initiate a Cross-Border P2P transfer?
Users initiate transfers through their bank’s or e-wallet’s Internet or mobile banking platforms by entering the recipient’s proxy ID and authorizing the payment.
How fast are Cross-Border P2P transfers?
Transfers are processed in real time, with funds credited instantly to the recipient’s account.
Which countries are supported for Cross-Border P2P transfers?
User can send and receive payments to and from Singapore. More key regional markets shall be enabled in the future.
Are there any fees involved in Cross-Border P2P transfers?
Fees depend on the sending and receiving banks or e-wallets. Users should check with their providers for applicable charges.
Is the service secure?
Yes, all transactions comply with regulatory requirements and use secure, encrypted infrastructure to protect users’ data and funds.
Can businesses use Cross-Border P2P for payments?
This service is primarily designed for person-to-person transfers, businesses may leverage the service for certain payment scenarios depending on banking arrangements.