Frequently Asked Questions
Where is my money held?
All payments made to MoneyWorld are held at a separate bank account (which only holds customers' funds) before it is being processed to your beneficiary’s account.
How can I make payment for my money transfers?
You can make payment via QR code PayNow or online bank transfers to our customer account.
How do I sign up?
Click the link https://forex.moneyworld.com.sg/and register! A handbook Remittance Guide is provided to guide you to the registration process.
What countries can I send money transfers to?
We cover almost all the countries worldwide except those that are sanctioned. We send to all G7 countries and most nearby Asian countries including Malaysia, China, Indonesia, Philippines, India, Bangladesh, and Thailand.
What License does MoneyWorld hold?
MoneyWorld is registered and licensed by the Monetary Authority of Singapore, as a Major Payment Institution in Singapore, under the Payment Services Act to provide cross-border money transfers services.
Are there any additional fees and charges?
The fees are fixed depending on the currency to be sent. “SHA” charges are subject to intermediary bank charges, whereas “OUR” charges are inclusive of all intermediary and/or receiving bank charges. Do note that sometimes (very rarely) the receiving bank charges a small fee for incoming funds which are beyond our control.
Where can I find today’s exchange rate?
You can check out the exchange rate here.
What is the minimum amount which customers can send?
There is no minimum amount.
What are your remittance office hours?
Monday to Friday (9:00 am - 5:00 pm)
What is the maximum remitting amount which a customer can send?
There is no definite maximum amount, all transactions have to comply with our Compliance due diligence process including but not limited to evaluating your source of funds, and the purpose of transactions.
How long does it take for my beneficiary to receive the money?
From as soon as the same day up to 2 working days, subject to cut-off timings, banking holidays, and any bank query regarding compliance check.
Is it possible to cancel the remittance request?
Once transaction is authorized, we are unable to cancel the transaction, you’d need to contact the beneficiary for a refund
What is the reversal process, in case of a rejected transaction due to incorrect details provided by the customer or remitter?
In the case of incorrect details, the customer will be notified of the failure of transaction due to incorrect information provided, one of our dealers will reach out to you by telephone or email.
What are all the available currencies which customers can remit?
Major currencies: USD, AUD, NZD, EUR, GBP, CAD, CHF, HKD and JPY Other Asian currencies: MYR, CNY, IDR, PHP, INR, BDT, PHP, THB and NTD
What should I do if I encounter a technical error during the remittance process?
Please write to us at admin@moneyworld.com.sg or contact us at our office telephone during office hours.