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Frequently asked questions

Personal account

Acceptable currencies include AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD. Fees ranging from 0.15% -0.5% applies. We remain transparent about our charges before any transfer, so you’ll be well-informed whenever.

Business account

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.

World Account

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.

Ensuring the safety and security of your money is central to our business. We ensure your funds are segregated from business funds.

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

Banks usually charge fees such as account management fees, FX margins and/ or transfer fees charged by sending/ intermediary/ beneficiary bank. We at WorldFirst take a smaller FX margin and pass on the benefit to our clients. For most customers, WorldFirst does not apply additional fees to make payments or to maintain an account with us. If any fees are applicable these will be made clear to you in advance.
The rate you usually see on online currency converters is the Interbank Rate. This is the rate that banks and large financial institutions use to trade with each other. It is not the same as the rate they offer you. They quote you a different rate and that's where they make their money. This is known as the spread, or the margin. We make our money by taking a smaller margin and passing that saving on to you.
If you're unhappy with any aspect of your transaction with us, please contact your relationship manager. Your complaint will always be investigated and you'll receive a formal response. We appreciate all feedback, both positive and negative, as it helps us tailor our services to your requirements.
If your details have changed please email with your account number and your new information. Just so you know, if you've moved house you may need to provide proof of your new address.
This depends on a couple of things, including the currency you are sending or buying, the bank used and the size of the transaction.

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.

Yes we can receive funds from an account in a different name to yours, but due to Anti Money Laundering regulations we will need to verify the source and will need supporting documents from you for compliance review. Please contact us for more details.
We are a member of SWIFT - the main system used throughout the financial world to make payments with speed, certainty and confidence. Once we've received your cleared funds we pay the account(s) on the agreed date. We'll send you confirmation in a PDF to let you know everything has gone through.

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 email confirmation with instructions. 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 happen often, 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. We promise to keep you informed every step of the way, until the issues has been resolved and beneficiary has received the funds.

No, we do not facilitate payments with digital currencies (eg. Cryptocurrency, bitcoin).

To see a rate, go to 'Book a Trade'. Select the currency you wish to buy and follow the steps. You will be shown a live rate. You can choose to book the trade and add payment details or you can cancel.
No - get in touch with your dealer and they will have a look at it for you.
A beneficiary is the person or organisation you wish to pay.
Your payment will leave WorldFirst on the day stated on your trade confirmation, once your payment has been received by us and has cleared.
Use the 'Payments From Trade' option in the menu on the left-hand side of the screen when logged into WorldFirst Online. It will show you the trades you've previously booked and you will be able to choose which beneficiaries to send them to.
Yes. If you have already booked your trade, use the 'Payments From Trade' option in the menu on the left-hand side of the screen when logged into WorldFirst Online. This will allow you to add as many beneficiaries as necessary to your trade. You can select the number of outgoing payments on the 1st step of booking a trade, this will allow you to add multiple payments and book a larger trade to cover all of them.
You would receive an email upon completing your online registration. Once we’ve received all your documents and completed the necessary action for verification, you can start using your account within 1-2 days.
It’s free to open an account. We don’t charge fees for receiving money, or any ongoing subscription and maintenances fees.
There is no minimum duration for holding an account with us. If you want to close any of your accounts, please email to notify us. Please note that no account is closed until you receive email confirmation from us.
You're given online access to your accounts, so you can log in and view current balances and credits at any time. You will receive an email notification when funds are credited to your account. You may contact your account manager if you would like to have the notification switched off.
You can log into your online platform and select ‘make a payment’ on the left section. Please ensure that beneficiary details have been entered online under the beneficiary tab on the left section.
Yes, you can view your balances when you log in to WorldFirst Online.
Log in to your online account and click on 'create a new beneficiary'. These details will come through to us to verify. If you are unsure about your bank details, please check them with your bank. You may transfer the funds out without any currency conversion. You may check with your account manager for more details.
USD, SGD, MYR and other currency payments take 1-3 days to credit from the day they are paid out. If you're sending USD to China this can take up to 2-4 days to credit.
Yes. You can view all incoming and outgoing funds for all of your accounts by clicking on the 'Your statement(s)' tab on the online system.
E-commerce marketplaces and payment gateways that have been approved by WorldFirst. Please get in touch with more details.
This account is for the purpose of receiving funds and making payments. Unfortunately, we do not offer any credit/debit card facilities.
We can open receiving accounts in the UK (GBP), USA (USD), Europe (EUR), Canada (CAD), New Zealand (NZD), Australia (AUD), Japan (JPY), Hong Kong (HKD) and Singapore (SGD).
WorldFirst do not provide you with a credit card or an address. Please speak to your website representative when you upload the account details we give you. They will be able to help you or direct you.
You can ask any of the following people to certify your documents:
  • Accountant
  • Bank/building society official
  • Barrister
  • Commissioner of oaths
  • Justice of the Peace
  • Local government officer
  • Member of parliament
  • Serving police officer
  • Solicitor/Lawyer
Whoever you ask to certify your document(s), you must provide them with both the original document and the copy and ask them to write on (or stamp) the copy: "I certify that this is a true copy of the original document". You must also ensure that they write (or stamp) the following information in English on each document that they certify:
  • The date
  • Their signature
  • Their name and title printed clearly
  • Their personal or business address
  • Their contact number
  • Their registration number (if applicable)
Yes we can allocate multiple currencies accounts for different storefronts. Visit our World Account page or email us for more details.
The account becomes dormant when it is inactive over a period of 1 year. If this happens, you may contact us with your account reference number to reactivate the account.
We send our funds via the swift network, TT/wire transfer or ACH payment for US.
The app is only for clients doing personal transfer. For online sellers it is currently still in development.