iFAST Global rolls out EzRemit for cross-currency transfers

By Gloria Methri

iFAST Global Bank (iGB), the digital banking division of iFAST Corp, has introduced EzRemit, a service transforming cross-currency transfers for its Digital Personal Banking customers.

EzRemit empowers DPB customers to transfer money swiftly and affordably to over 50 countries in more than 25 currencies. Its EzWallet feature facilitates transfers to international banks and over 50 e-wallets, including Malaysia’s TNG, the Philippines’ GCash and Pakistan’s Easypaisa.

“We envision the future of digital banking and wealth management to be one where people from various emerging markets are looking for the best platforms that can provide seamless access and connectivity to global products and exchanges. The bank’s Digital Personal Banking customers can now benefit from doing cross-currency transfers to international banks and e-wallets quickly and are no longer confined to the financial players in their local markets. This new service brings us one step closer to realising our vision of building a truly global business,” said Lim Chung Chun, CEO of iFAST Corp.

“EzRemit is our latest commitment to delivering fast, fee-free, and seamless transfers, catering to the evolving needs of our customers in the UK and globally,” Simon Lee, General Manager of the Digital Personal Banking division, added. “Traditionally, cross-border transfers via SWIFT can take a couple of days for people to receive the money and can be pretty costly in terms of fees. With the launch of EzRemit for our Digital Personal Banking customers, we can offer near-instant transfers, with many completed within minutes and most within 48 hours, with variations depending on the receiver’s country and bank.

EzRemit’s key benefits are:

• Speed: Near-instant transfers, with many completed within minutes and most within 48 hours, with variations depending on the receiver’s country and bank.
• Competitive FX Rates: Access competitive exchange rates updated every minute for over 25 currencies.
• No Fees: Enjoy fee-free cross-currency transfers, delivering exceptional value.
• Security: Clients’ cross-currency transfer journey with iFAST Global Bank, a fully licensed UK bank, starts on a secure footing, as their eligible deposits are protected up to £85,000 per person under the UK’s Financial Services Compensation Scheme (FSCS).