Maybank Singapore opens global remittance service

Lender ties-up with Western Union to provide money transfer service in 400,000 migrant workers.

Maybank Singapore launched a worldwide remittance service in collaboration with Western Union, allowing its customers to remit their money to more than 410,000 locations in over 200 countries.

In a statement, Maybank said its customers could now remit their money worldwide through its 12 participating branches located all over the island republic.

The money transfer service is also available to the bank's non-account holder as the bank is utilising a cash-to-cash platform.

The bank said the relationship with Western Union was to increase its market share in the local remittance market and growing its customer base.

An estimated 1.2 million foreigners are residing in Singapore, and the bank is targeting the 400,000 white-collar migrant workers.

View the full story in Bernama.