iFAST Global Bank (iGB) is the UK’s digital banking arm. iFAST Co., Ltd.has been released Ezremitis a new cross-currency remittance service for digital personal banking customers.
The service allows customers to send money in over 25 currencies to over 50 countries.
Building on its existing services for business customers, iGB is also expanding its services to retail banking customers.
EzRemit supports remittances to international banks and over 50 e-wallets through its EzWallet facility, including platforms such as TNG eWallet in Malaysia, GCash in the Philippines, and Easypaisa in Pakistan.
The service aims to offer near-instant transfers, with many completed within minutes, but processing times vary depending on where you’re sending to, with most transfers completed within 48 hours.
Customers also benefit from competitive exchange rates that are updated in real time and fee-free transfers.
As a fully licensed UK bank, iFAST Global Bank guarantees that deposits are protected under the UK Financial Services Compensation Scheme up to a maximum of £85,000 per person.
“Our digital personal banking customers can now make quick cross-currency transfers to international banks and e-wallets and are no longer limited to financial institutions in their local market.
This new service brings us one step closer to realizing our vision of building a truly global business.”
“We are pleased to be working with iFAST on this important strategic partnership,” said Lim Chung Chun, CEO of iFAST Corp.
“EzRemit is our latest effort to meet the changing needs of our customers in the UK and around the world by providing fast, fee-free and seamless money transfers.
The launch of EzRemit for our digital personal banking customers enables near-instant transfers with many completed within minutes and most within 48 hours, depending on the recipient country and bank.”
Simon Lee, general manager, Digital Personal Banking, said:
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