iFast Global Bank, the digital banking division of iFast Corporation, has announced the launch of EzRemit, a cross-currency transfer service for its digital personal banking (DPB) customers.
The service allows the group’s DPB customers to transfer money across over 50 countries in more than 25 currencies.
Additionally, EzRemit is set to facilitate transfers to international banks and over 50 e-wallets through its EzWallet feature, including Malaysia’s TNG, the Philippines’ GCash and Pakistan’s Easypaisa.
Lim Chung Chun, CEO of iFast Corporation, says: “The bank’s digital personal banking customers can now benefit from doing cross-currency transfers to international banks and e-wallets quickly and are no longer confined to the financial players in their local markets.”
Simon Lee, general manager of the digital personal banking division, adds: “With the launch of EzRemit for our Digital Personal Banking customers, we can offer near-instant transfers, with many completed within minutes and most within 48 hours, with variations depending on the receiver’s country and bank."
In addition to speed, EzRemit offers benefits such as competitive foreign exchange rates and fee-free cross-currency transfers.
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The service also offers its clients security as their eligible deposits are protected up to GBP85,000 ($145,989.86) per person under UK’s Financial Services Compensation Scheme (FSCS).
Shares in iFast Corporation closed 15 cents lower or down 2.13% at $6.91 on Sept 3.
