MariBank has unveiled its latest service, MariBank Overseas Transfers, becoming the first digital bank in Singapore to offer zero-fee remittance services to both retail and business customers. This new service aims to make overseas transfers more accessible and affordable by providing competitive foreign currency rates.
Currently available on an invite-only basis, the service supports 10 currencies across 13 destinations, with a full rollout planned for later in April. Transfers are processed immediately or within one to three business days for most destinations, enhancing cash flow and business operations.
MariBank’s initiative addresses the banking service gaps identified through surveys within its ecosystem. Over 70% of business owners surveyed expressed a need for remittance services, prioritising lower transfer costs. Maribank ensures competitive exchange rates and no extra charges, allowing businesses to save more.
For consumers, the absence of transfer, agent, and hidden fees were key factors in choosing remittance products. MariBank offers zero transfer fees for all currencies and destinations, with competitive exchange rates. The service also includes sending Chinese Yuan to Mainland China via Alipay, UnionPay, and Wire Transfers, and cost-effective transfers for currencies like Indonesian Rupiah and US Dollar.
Natalia Goh, CEO of MariBank , stated, “At MariBank , we’re deeply committed to listening to our customers and understanding their evolving needs. With products like Maribank Overseas Transfers, we’re not just providing solutions—we’re making banking more accessible, affordable, and tailored to the needs of customers.”
This launch follows the introduction of Mari Invest Income in February, reinforcing MariBank ‘s commitment to providing comprehensive financial solutions for both retail and SME customers.
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