Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up.

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Thanks to the agreement, DBS Bank will reduce costs for its retail customers who will be able to Licence No. Seven Bank president Yasuaki Funatake (right) and DBS Japan country head Ken Foo with the memorandum of understanding on the deal. Bui Duc Hai, Nguyen Van Hong and The gift link for this subscriber-only article has expired.



Vietnamese expats in Japan who would like to transfer money to Vietnam need to register their accounts on the application of Seven Global Remit. Home » Business » Japan's Seven Bank, DBS in money remittance deal. They can read the article in full after signing up for a free account.

DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan's Seven Bank, in the second such arrangement for the Singapore lender. DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan’s Seven Bank, in the second such arrangement for the Singapore lender. Seven Bank president Yasuaki Funatake said tapping DBS' digital remittance system will enable it to reduce costs for its retail customers, who will be able to send money abroad at any time. Read more at straitstimes.com. This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. All rights reserved. timeoutvietnam.vn In its latest report in April and May, the World Bank forecast that Vietnam and Southeast Asian countries will witness a fall of 13 per cent in remittances this year due to the global recession, which will still be lower than the worldwide 20 per cent. By registering, you agree to our T&C and Privacy Policy. Seven Bank's customers can open an … DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan's Seven Bank, in the second such arrangement for the Singapore lender.

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STEP. Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up.

This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. All Rights Reserved. DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan’s Seven Bank, in the second such arrangement for the Singapore lender.… STEP. Remittance transfer will be easier thanks to advanced application services DBS Bank has lately signed a memorandum on the deal to provide its money remittance platform to Japan’s Seven Bank. Deputy Editors-in-Chief: Mr Sim S. Lim, DBS’ group head of wealth management and consumer banking, noted that the Covid-19 pandemic has catalysed work-style reforms worldwide, and it was a “win-win situation” for DBS to partner Seven Bank in building its digital ecosystem. Seven Bank announced that it will first provide remittance services to Vietnam with a money remittance platform supplied by its partner DBS Bank.

Prepare your Residence Card and My Number (If the applicant is a foreign national). DBS handles an average of $12 billion in money remittance yearly, compared with Seven Bank's 65.4 billion yen (S$847 million) last year.

Since it will be processed by the relevant bank after that, it may not arrive within this period.

A DBS spokesman said DBS Remit is available to DBS customers in Singapore, Hong Kong, India and Indonesia, enabling remittance to over 50 countries in 17 currencies.

baodautu.vn |  Seven Global Remit representative director Yasuharu Ueki noted that the average cost of remitting money from Japan is 9.56 per cent of the sum sent abroad. Check with your payee for details, if necessary.

Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up. This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. While Seven Bank charges 4.1 per cent, it expects the fee to be less than 3 per cent with the use of DBS' system.

Seven Bank will first begin providing remittance services to Vietnam following regulatory approval, before expanding to other countries. Remittance transfer will be easier thanks to advanced application services. Seven Bank's adoption of DBS Remit's platform, she added, will allow it to "provide this same outbound remittance distribution capabilities for its retail customers". Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up. Seven Bank will first begin providing remittance services to Vietnam following regulatory approval, before expanding to other countries. This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. We made a justified decision, Khimki buy Zinkovsky from Krylia for 50 million rubles (SE), Ozdoev - the best player of the Russian national team in the match with Hungary according to users of Showsport and Mir payment system, Ignatov does not want to go on loan and intends to break into the base of Spartak, Khvicha has 3 goals in the last four matches, De Boer is the 3rd coach in the history of the Dutch national team without a win in the first three matches, http://www.straitstimes.com/business/banking/japans-seven-bank-dbs-in-money-remittance-deal. Advertisement | 

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Seven Bank will first begin providing remittance services to Vietnam following regulatory approval, before expanding to other countries.
Thanks to the agreement, DBS Bank will reduce costs for its retail customers who will be able to send money abroad at any time.

DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan’s Seven Bank, in the second such arrangement for the Singapore lender. It is anticipated that the annual growth will reach 21.5 per cent from 2020 to 2023, resulting in $47 million in 2023.

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Nguyen Quoc Viet

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This website uses cookies to improve your user experience and to provide you with advertisements that are relevant to your interests. They would be able to recharge their money to any ATM belonging to the system of 25,000 ATMs of Seven Bank in Japan. Last year, the World Bank revealed that the amount of remittances reached $16.68 billion, increasing by 6.4 and 13.2 per cent compared to the $15.9 billion in 2018 and $13.8 billion in 2017, respectively.


Seven Bank will first begin providing remittance services to Vietnam following regulatory approval, before expanding to other countries.

1021-318X You can read this subscriber-only article in full, All done! Seven Bank President Yasuaki Funatake said that tapping DBS’ digital remittance system will enable it to reduce costs for its retail customers, who will be able to send money abroad at any time. By continuing to browse the site you are agreeing to our use of cookies. Japan's Seven Bank, DBS in money remittance deal, Ottawa still promising but not delivering on new commercial rent relief program, Honduran caravan heads towards U.S. to escape pandemic-induced poverty. But a log-in is still required for our PDFs. DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan's Seven Bank, in the second such arrangement for the Singapore lender. Wilmar's billionaire boss rides on cooking oil dominance to record Shenzhen... KidZania Singapore owes S$53m to over 1,000 creditors, Jobs targeted at foreign labour, poor attitudes behind traineeship mismatch, Liquidity drying up for VC firms as investments age, SaaS, PaaS, IaaS – cloud computing segments and 6 investing opportunities, Trusts' corporate governance scores 'have stagnated or regressed', Court grants Hyflux 'last' adjournment to judicial management application, Review of Etiqa Gigantiq Insurance Savings Account.

In most cases, the remittance will be sent to the intermediary bank within 7 business days from the date of application. 198402868E.


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