Frequently asked questions
We do not charge fees for transactions above SGD2000 in a personal account. A fee of SGD15 will be charged if each transfer is less than SGD2000. However, if you’re transferring without any currency conversion, fees ranging from 0.15% -0.5% applies. We remain transparent about our charges before any transfer, so you’ll be well-informed whenever.
SGD10 fee will be charged per transaction. This fee helps us cover the cost of sending to your beneficiary’s bank. If you’re transferring without any currency conversion, USD10 – USD20 fee applies.
A small fee will be charged for World Account withdrawals and same-currency transfers. Email us to find out more.
Depending on the currency you wish to send or receive, we support 30 over currencies. This includes AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD and more. Contact +65 6805 4370 to find out.
After you've completed your online registration, it will take 1-2 days to verify your particulars. This is a requirement by MAS regulations. Follow the instructions on the final page of your online registration for a face-to-face verification and we'll quickly get you sorted out to make your first money transfer.
It is free to sign up for personal, business and World Account. There is no subscription and maintenance fee.
For personal and business transfers, you can transact any amount above SGD2,000 (or equivalent in other currencies). For World Account, there is no minimum transfer amount.
At WorldFirst we can help make international payments from one bank account to another. So we can't help you out with your travel money or cash, sorry!
We are regulated in Singapore by the Monetary Authority of Singapore. We are required to hold a base capital1 of S$250,000 to protect our business and further safeguard our customers. We also have a 3A2 credit rating from Dun and Bradstreet. You can find out more about where the companies under the WorldFirst Group are registered and regulated here.
Notice for non-Singapore residents using World Account
World First Asia Pte Ltd is licensed by the Monetary Authority of Singapore to provide e-money issuance services. Please note that this does not mean you (as a non-Singapore resident) will be able to recover all the money you paid to World First Asia Pte Ltd if its business fails. This new regulation is introduced by MAS under the Payment Services Act 2019. For further information on how we look after your money, please visit our security page.
1Base capital is defined in division 2 of Payment Services Regulations 2019
We send your payment out on the date agreed but you'll need to allow one to four days for your funds to reach the recipient. The length of time depends on the currency.
For example, transfers to Australia and New Zealand will usually clear within 24 hours from the value date. If you're sending USD to another country (not the US) then you should allow up to 4 days for it to clear. If it's Sterling, US dollars or euros will usually arrive fully cleared with your bank the same day as per the value date though they may not credit your account until the next business day.
If you need funds to arrive by a particular date please call us for advice and accurate information for the country you are sending funds to.
In rare circumstances delays may occur. WorldFirst will do everything reasonably possible to ensure that funds arrive on time but is not liable for delays caused by intermediary or receiving banks.
Please note that the funds will arrive in the beneficiary's account from WorldFirst, rather than your name. There will be a reference which starts with WFPAY followed by a sequence of numbers and your name/company name and your WorldFirst client reference number may appear in their statement.
- Europe - IBAN and SWIFT
- Canada - account number, SWIFT and Transit code
- Australia - account number, SWIFT or BSB code
- New Zealand - account number, 6 digit bank code and SWIFT
- USA - account number, ABA routing number or SWIFT
- UK - account number and sort code or SWIFT and IBAN
- India - account number, SWIFT and IFSC number, reason for transfer
- China - account number, SWIFT
Please call us at +65 6805 4390 for information on other countries.
Once you've booked your trade, you'll receive an email confirmation which includes our client bank account details. It'll also tell you when you need to send the money to us by.
When you book your trade, you will be given a 'funds in' date based on the method you chose for sending funds to us. You need to make sure that your funds are with us and cleared by that date.
You can send your money to us by either of these 2 methods:
- FAST payment: an almost instant payment and funds should be in the beneficiary account within minutes. Usually available only for payments up to s S$10,000.
- e-Transfer/Telegraphic Transfer (Giro): takes 1 to 2 working days for funds to arrive.
Please include your WorldFirst client reference number and your name in the payment notes or remark field.
We can only send payments once your funds are with us and have cleared, so if you were to send funds to us via a slower payment method (such as a Giro, for example), your payment will take longer to leave. If you send your funds in via MEPS or FAST, your payment will leave sooner.
You can send funds to WorldFirst at any time as long as they are cleared by the date of the outgoing payment on your trade confirmation. If your funds aren't yet with us, your payment won't leave.
We'll make the payment to your beneficiary on the date we agree when you book your trade. Your beneficiary might not be able to access the money right away as their bank might take some time to clear the funds for them.
Please note that the funds will arrive in the beneficiary's account from WorldFirst, rather than your name. There will be a reference which starts with WFPAY followed by a sequence of numbers.
As we are making the payment on your behalf, the funds will arrive in your beneficiary's account from WorldFirst and not in your name. There will also be a reference which starts with WFPAY and followed by a sequence of numbers. Make sure to let your recipient know just in case they're expecting to see the money arrive in your name.
Same day payment is currently not available when booking a trade online, however we are working to make this feature available as soon as possible.
This doesn't often happen, but if your funds don’t arrive within the expected timescale, then let us know as soon as possible so that we can set up an investigation with our bank. We will continue to liaise with our bank until the issue has been resolved and the beneficiary has received the funds, and we promise to keep you informed every step of the way.
No, we do not facilitate payments with digital currencies (eg. Cryptocurrency, bitcoin).
First of all, try choosing a different way of sending funds to WorldFirst. If you send funds to us by FAST rather than GIRO, you should be given an earlier payment date. Remember that there are some currencies that we can't buy for the same day or the day after. If you are still unsure, please get in touch with your dealer.
The market rate has improved since the day I book the trade and I have not transfer fund to WorldFirst. Can I cancel the trade and book a new deal with the current rate?
A booking is a contractual agreement whether it is confirmed online or over the phone. Any cancellation will be subjected to cancellation fees.
- Bank/building society official
- Commissioner of oaths
- Justice of the Peace
- Local government officer
- Member of parliament
- Serving police officer
- The date
- Their signature
- Their name and title printed clearly
- Their personal or business address
- Their contact number
- Their registration number (if applicable)