MAYBANK SINGAPORE OFFERS WORLDWIDE REMITTANCE SERVICE

By Zakaria Abdul Wahab

SINGAPORE, March 15 (Bernama) -- Maybank Singapore Monday launched a
worldwide remittance service in collaboration with Western Union, allowing its
customers to remit their money to more than 410,000 locations in over 200
countries.

In a statement, Maybank said its customers could now remit their money
worldwide through its 12 participating branches located all over the island
republic.

The money transfer service is also available to the bank's non-account
holder as the bank is utilising a cash-to-cash platform.

The bank said the relationship with Western Union was to increase its market
shar e in the local remittance market and growing its customer base.

An estimated 1.2 million foreigners are residing in Singapore, and the bank
is targeting the 400,000 white-collar migrant workers.

Maybank said it was aiming to grow its consumer remittance volume in tandem
with market forces, possibly doubling the volume over the next two years.

Western Union's country director David Batubara said with the 12 new Maybank
locations, its network now had increased to 91 in Singapore, allowing more
consumers to conveniently access a Western Union location and the service.
-- BERNAMA