Merchants will need to submit the base currency withdrawal request (e.g. USD to SGD). The beneficiary will be their SGD Cash Account and the deposit details can be found in their Fazz dashboard > SGD Cash Account. Likewise, for SGD > USD, they will need to submit an SGD withdrawal request and the beneficiary will be their USD Cash Account.
How do I transfer funds between my USD and SGD Cash Account?
Step 1: Search the Account Tab and click “USD Cash Account” to access your account
Step 2: Select “Transfer Out”
Step 3 Filled the “Transfer Details” and “Transfer Amount” section
Step 4: Input the details in the “Tell us more about this transfer” section
It is also recommended to upload any Supporting Documents for the transaction (e.g. an invoice for the rent).
Step 5: You may choose to input the amount value either in the “Amount to send” or “Recipient gets” section
The currency pair and the corresponding amount for the other currency will be automatically populated based on the current FX rates.
The exchange rate being displayed will be refreshed every 20 seconds.
Step 6: A popup will appear for you to confirm the transaction details the FX rates that you will be receiving and the amount that we will send to your beneficiary
*Note: Any other fees that the intermediary or beneficiary bank may charge will not be displayed.
How long does it take to send money overseas with a USD Account?
The transfer time for sending money overseas from your USD Account is typically 2 business days when the correct bank details are provided.
Please note that this time frame may be subject to change if there are any additional requests for information (RFI) from the relevant authorities or if there are any specific circumstances related to the transfer.
For the most accurate and up-to-date information regarding your international money transfers, please contact our customer support team, who can provide you with real-time updates and guidance. We are committed to ensuring a swift and efficient transfer process for your convenience.