FAQs:
Using your new World Account

Your username can either be the name you used when registering with us, or it can be your email address. 

Here are some key things to be aware of:

• You can now modify your payee's details online 24/7 – no account manager needed
• You can make local transfers into your WorldFirst account via bank transfer (cheques will no longer be accepted)
• Any duplicated payee records will be automatically removed to help you manage your account
• If your account is accessed by multiple people, you'll need to re-authorise them
• If your previous settlement details is with a WorldFirst bank account, you can now have your own receiving accounts to receive/ top-up funds and make payments

For any queries, please reach us at +65 6805 4380 (Monday to Friday, 10am - 5pm SGT).

Don’t worry, nothing changes. For existing World Account users, this means your balances and receiving account details remain the same.

Absolutely. At this stage, we might ask you for further information (e.g. if the name on the payment doesn’t match the name on your World Account), but as soon as we verify that the names match you’ll be able to receive funds seamlessly.

Your receiving accounts will list all supported methods for collection and might vary per currency and account location.

Please note that we only support electronic payments – we can’t accept cash or cheques.

To reduce the likelihood of fraudulent activity, we're using a one-time password (OTP) sms and email as a two-factor authentication (2FA) when you login, create payees, make transactions including a few other tasks on World Account.

You can update your security settings by selecting 'My account' once you've login to your World Account.

There are three ways to retry:

1. Click 'resend' to receive the OTP code, it should take 5-10 seconds
2. Change OTP verification method by clicking 'change method'
3. Upon login to the new portal, go to security settings found in the top-right dropdown bar to update your 2FA phone number and email address

Contact us at +65 6805 4380 or worldaccountsea@worldfirst.com if you face further issues.

Payee (beneficiary): the individual-party receiving the payment.

Payer: the individual-party making the payment.

A ‘payer’ is the person or company paying funds into your receiving account. You can add a payer in the portal to ensure when funds are received so there is no delay. Simply follow these steps:

1. Go to ‘Collection’
2. Select the ‘Payers’ tab
3. Add a payer

You can make payments to local and international suppliers and employees, as well as freelancers. You can also pay tax authorities/agents as well as yourself when you’re ready to repatriate funds. What's more, you'll be able to exchange funds between currency accounts.

Please be aware that there are some payments that we’re not able to accept for regulatory reasons. For more information on these restrictions, please see the Account Terms of Use within our Terms and Conditions.

We currently support the world’s major currencies:

GBP, USD, EUR, AUD, JPY, NZD, SGD, HKD, CNH, CAD, PLN, CZK, THB, DKK, MXN, AED, SAR, CHF, SEK, NOK, ZAR, RON, ILS, and BGN.

In the coming months, the following currencies will also be available to you: EGP, INR, RON, KRW, BGN, ILS, IDR, PKR, VND, MYR, PHP, HUF, BHD, BWP, KES, LKR, MAD, MUR, TRY.

Please note, that due to current sanctions, you are not able to access RUB.

The speed of your payment depends on factors including the currency you're sending money in, the payee's bank and country, as well as the size of the transaction.

The following currency/country combinations are normally received on the same day:

• EUR to Europe
• GBP to UK
• USD to US
• SGD to SG
• HKD/USD to HK
• AUD to AU
• NZD to NZ

For any currency/country combinations outside of the above list, please allow an additional 1-3 working days. However, in some cases, a payee’s bank may take an additional working day to credit their account. For specific currency timings, please contact us.

If you've scheduled a payment for a date in the future, we provide an option for you to cancel the payment in advance.

Just follow these steps:

1. Head to 'Transaction Management'
2. Select 'Pending Payments'
3. Hit 'Cancel'

If you've provided an incorrect account number, name, address, or payment reference before the payment is processed by WorldFirst, we may be able to change the details for you.

In cases where the payment has already been processed by WorldFirst, we may be able to issue an amendment request to the payee's bank, although in some instances we may have to wait for the money to return in order to re-process the payment.

The course of action will be determined by the currency, bank or destination. For more details, please contact our customer service team.

Unfortunately, if a payment has been made to the wrong bank (e.g. if your payee has provided the wrong SWIFT, BIC or sort code), our only options are to wait for a return of the money or to recall the payment from the incorrect destination.

When adding a payee on the portal, you'll be prompted to add the relevant details, depending on your payment currency and payee country. For example:

• 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
• Mexico - Account number, IBAN and SWIFT
• Singapore - Account number and SWIFT
• Japan - Account number and SWIFT
• UAE - IBAN and SWIFT

Your trade will automatically be cancelled on the 3rd day of overdue, so do make sure that payment is made on time to prevent any delay or default on your transfer.

Receiving accounts allow your business to receive payments from marketplaces and businesses globally. This means you’ll be able to receive funds to your World Account via bank transfer.

Your currency account is the pooled balance of all your receiving accounts. For example, if you receive 100 GBP into one receiving account and 100 GBP into another, your total GBP currency account balance will be 200 GBP.

You can receive payments from a variety of sources, including:

• Online marketplaces
• Payment gateways
• Third-party businesses
• VAT returns or your own company or personal bank account

As a sole-trader (non-registered business), you can receive payments from approved marketplaces, tax authorities, and your own personal bank account.

If you operate any other business type, you can receive incoming payments from approved marketplaces, tax authorities, your own personal bank account and other approved third-party sources that accept and receive payments on behalf of your business.

From time to time, we might request additional information before we can apply a payment to your account. Supporting documents can be in relation to inbound credit, such as invoices or contracts. This is to help protect your account from fraud.

Please contact us if you have any concerns or questions about other types of payments you’d like to receive, or if you need to receive funds from anywhere else.

If you need a receiving account, don’t worry, we’ll do the work for you. For existing corporate customers, you’ll automatically be assigned the below receiving accounts in the following regions:

1. UK/EEA: GBP/EUR/USD
2. SEA: SGD/USD
3. ANZ: AUD/NZD/USD

If you need receiving accounts in additional currencies, or additional receiving accounts in the same currency, simply follow the below steps:

1. Go to your ‘Dashboard’
2. Click/tap the quick link marked ‘Receive’
3. Add a new Receiving Account

Unfortunately, previous settlement details will no longer be valid and any funds sent to these accounts will be subject to delays and potentially returned. Please ensure you update all stored payees on your external bank platforms, or with your suppliers as soon as possible. We apologise for any inconvenience.

Retired World First Asia Pte Ltd bank accounts that will not be available in the new portal: 
World First Asia DBS SGD account - 003-93xxxx-x
World First Asia DBS USD account - 0003-0249xx-xx-x
World First Asia OCBC SGD account - 7134781xxxxx
World First Asia OCBC USD account - 5035383xxxxx

You can open up to 14 receiving accounts in any currency denomination we offer. If you need additional receiving accounts, please contact your Relationship Manager or our Customer Service team who will be happy to help.

Please note that your receiving account balance is only visible on a currency account level (not as a pooled balance).

You can receive 14 currencies using WorldFirst, including GBP, USD, EUR, AUD, JPY, NZD, SGD, HKD, CNH, and CAD into locally domiciled accounts. We can also provide you with non-local offshore accounts, so you can collect in AED, CHF, SEK and PLN.

From time to time, you may need to provide additional information before we can credit funds to your World Account. This is to help protect your account from fraud. When prompted, you can easily answer a few brief questions and/or supply any supporting documentation that may be required through the portal by following these steps:

1. Go to ‘Dashboard’
2. Select ‘Claim Inbound’
3. Click/tap ‘Verify’

Whilst we review your information and/or supporting documentation the funds will be listed as ‘Unavailable’. Once we’ve completed our verification processes, your funds will be accessible and ready for use and your status will change to ‘Success’.

Any new FX transactions you carry out can be found under the ‘Funds Management’ tab as well as on the ‘Transaction Management’ page.

Your trade history can be found by selecting the ‘Historical Statements’ button on the ‘Statements’ page. This includes your previous trade history, payment history and statements.

You’ll also be able to download a record of your trade history from this page.

You’ll be able to see both new and existing FX deals under the ‘Transaction Management’ tab under ‘FX Management’. You’ll also be able to download your trade confirmation receipts on this page of the portal.

Any pending payments for spot deals and forward contracts will appear under the ‘Pending Trades’ tab.

Login to WorldFirst portal, and follow the steps below:

1. Go to 'Funds management' found in top headers
2. Under 'Payee', select 'View all payees'

You can place an order for a spot deal using your World Account. Please remember to send money to your new currency account and ensure that it matches the currency denomination you’re sending us.

If you send the incorrect settlement currency, there will be delays in your transaction and funds will likely be returned. Please also remember to not use your old World First Asia Pte Ltd named accounts.

We’re working to bring back forward contracts in the coming months, please contact us for more details.

As a WorldFirst customer, you can allocate permission levels to your employees so they can perform authorised activities without giving full access to your World Account. There are five different layers of access known as 'roles' which can be managed by authorised users and directors:

1. Viewer: employee/delegate has 'view only' access control and is unable to create, make or authorise payments
2. Creator: able to create payments for authorisation and make a payment below a designated amount
3. Admin: can view and edit all permissions along with adding new users and creating/modifying user roles
4. Authoriser 1: these are employees who are designed to have the first approval role
5. Authoriser 2: these are employees who are designed to have a second approval role

If there is a notification request, you’ll receive an email that you have an authorisation ‘pending’. You’ll also be notified on the home screen of your portal.

All you have to do is go to the 'Approvals' tab, where you'll see your pending requests. Simply select 'Approve' for instant authorisation.

Alternatively, you can take a look at the 'Details' tab to view your full payment and payee details, and confirm your approvals from there.

Note: If you're the final authoriser, you will also be prompted to authenticate via sms notification.

If you created the request, you can select 'Created by me' and then click on 'Revoke'.

In the case that you're the authoriser, head to the 'Pending my approval' tab, select the request, and click on 'Decline'.

If you're a creator, L1/L2 authoriser or administrator you can track all authorisation requests by navigating to 'Approvals' in the navigation dashboard.

If you're a creator you can view all authorisation requests you have created and see the status i.e. if it’s pending approval, if it’s cancelled, if it's expired, or sent for payment.

If you're an authoriser you can view any requests pending your approval.

Go to 'Settings' and then select 'My Team'. Here you'll see which individuals have been allocated role types. You'll also be able to see their linked emails, their status (e.g. if they've been activated or are pending activation), and view details such as if a user's permission has been deleted.

To invite a new user, follow these steps:

• Enter the name of the user and their email address
• Allocate and select their role

Once the user receives an email, they can sign-up for the account. As part of this, they will need to create their login credentials, set up their verified phone number and authenticate their account with a two-factor authentication via sms.

As an administrator, you can create a payment rule. For example, creating payment and approval thresholds to suit your business activity:

< £100: if a creator makes a payment of less than £100, this can be processed without any additional authorisation.

< £500: if a creator makes a payment under £500, the payment request will instead go to a ‘level one authoriser’ who will receive an email or prompt on the portal homepage to authorise the payment.

> £500: if a creator makes a payment over £500, the request will again be routed to a ‘level one authoriser’. Once approved at this stage, it will then go on to a ‘level two authoriser’ to approve the payment.

On the 'Statements' page, you can view all statements covering payments made from your account.

On this page, you can also search and filter by merchant IDs (this is the payee ID or account number). You can also select one or more currencies and filter between money coming into your receiving accounts, money coming out of your receiving accounts, and currency that you convert between your receiving accounts.

Yes, you can download statements for one or multiple currencies in PDF, XLS and CSV formats.

Login to WorldFirst portal, and follow the steps below:

1. Go to 'Statements' found in top headers
2. Filter the time period for statements you'd like to retrieve
3. Select 'Download statements'

Yes, all of the historical information will be available in the new portal.

If you held a Corporate Account on our old platform, you'll find your historical statements on the new World Account portal. You'll also be able to see your trade history and payment history, these are available to download.

If you held a World Account on the old platform, you'll be able to see your payment history, which can also be downloaded.