Will Helping Foreigners Remit $ Quickly Out of SG Help Sporeans + Local Economy?

[h=1]SINGTEL LAUNCHES TEXT MESSAGE MONEY REMITTANCE SERVICES FOR INDONESIANS[/h]


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Post date:
25 Jul 2014 - 11:46am









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Singapore 24 July 2014 – For the first time, Indonesians in Singapore will be able to enjoy the convenience of using their mobile phones to send money directly to the bank accounts of family and friends in their homeland, thanks to SingTel’s mRemit service.
From 27 July, funds can be remitted to more than 80 Indonesian banks, including Bank Danamon, Bank Negara Indonesia and Bank Mandiri. Recipients will have access to transferred funds within three minutes of a successful transaction. As a launch promotion, fees for mobile remittance transactions to Indonesia will be waived until 31 August 2014.
Mr Johan Buse, SingTel’s Vice President of Consumer Marketing, said: “We are delighted to extend the convenience and flexibility of mRemit to the 180,000 (1) Indonesians who currently call Singapore home.”
“With mRemit, customers need not queue for hours at traditional over-the-counter remittance outlets, as they have the flexibilty to initiate transfers at any time through their mobile phones. This is particularly useful for workers who have very few days off or work irregular hours,” he said.
Since its launch in 2012, mRemit has offered mobile remittances to the Philippines in collaboration with GCASH, the mobile commerce service of SingTel’s associate company, Globe Telecom. The service has been well received, attracting more than 25,000 users to date. From 27 July, customers from the Philippines will also have the option of sending funds directly to accounts in more than 50 banks in their home country, including BDO, RCBC and Metrobank.
mRemit is available to subscribers of all mobile networks, and is compatible with both smartphones and feature phones. Customers use the funds in their mCash accounts for all remittances. They initiate the transactions using SingTel's mWallet smartphone app (2), or by sending the word 'remit' via SMS to the number 77766. The sending and receiving parties will be notified by SMS once transfers have been successfully completed.
Customers enjoy very competitive exchange rates and low remittance fees from as little as $2.40. Topping up mCash accounts is easy and convenient via more than 1,000 locations island-wide, including AXS stations, or over-the-counter at 7-Eleven, Cheers, Fairprice Xpress and SingTel retail stores.
For more information, please visit www.singtel.com/mremit.

(1) Source: Indonesian embassy
(2) mWallet is available for download from the Apple App Store or Google Play

*Article first appeared on http://info.singtel.com/about-us/news-releases/singtel-launches-first-mo...

Remittance companies soon eat grass. No more fat commissions and fees.

wow amazing i didnt know we had 180,000 indonesians in singapore.....is there any nationality in singapore that we are not short of?

This is really wonderful. Can't wait for the day that Singtel and DBS does something for Singaporeans.

scroobal said:

This is really wonderful. Can't wait for the day that Singtel and DBS does something for Singaporeans.

Click to expand...

Such as this: http://www.tremeritus.com/2014/07/09/iras-can-claim-overdue-taxes-from-bank-accounts/?






















[h=2]IRAS can claim overdue taxes from bank accounts[/h]

July 9th, 2014 | Author: Contributions



We thank Mr Lim Tong Wah for his feedback and the opportunity to
clarify whether banks can step in to recover tax arrears owed by their customers
(“Do banks have absolute authority over customers’ funds?”; last Thursday).

The vast majority of taxpayers in Singapore fulfil their social obligations
by paying their taxes, thereby enabling the Government to provide public goods
and services for citizens’ benefit.

A small proportion of taxpayers fail to do so, and refuse to work out
alternative arrangements such as instalment plans. To be fair to all taxpayers
and to maintain the very high tax compliance rate in Singapore, the Inland
Revenue Authority of Singapore (Iras) needs to recover the outstanding tax
payments from such taxpayers.

Under the law, the Iras is empowered to appoint banks to transfer to
the authority the amount of tax owed, drawn from funds held for or on behalf of
the errant taxpayer. This form of recovery of overdue taxes is a common
practice adopted by the tax authorities around the world, including those in
Hong Kong, Australia and the United States.

Any bank in Singapore can be authorised to do so. The Central Provident Fund
Board can also be appointed to recover the amount of tax owed by the individual
from any monies that are payable to him when he applies to withdraw his CPF
savings.

We therefore encourage taxpayers to pay their taxes on time, including via
Giro to enjoy up to 12 months of interest-free instalment payments and to avoid
missing due dates. Taxpayers can also sign up for SMS alerts at
myTax.iras.gov.sg, to be alerted when their income tax bills are issued. We also
advise those who face financial difficulties to contact the Iras to discuss
alternative payment arrangements.

Jackalin Er
(Ms)
Director (Corporate
Communications)
Inland Revenue Authority of
Singapore

* Letter first