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OCBC, Visa offer no-fee China remittances
OCBC has launched a new feature on its app for faster peer-to-peer money transfers to China.
This service, supported by Visa Direct, uses WeChat Pay and Alipay and incurs no transfer fees.
The feature addresses the growing need for remittances from Singapore to China. OCBC reports a 50% rise in such transactions over the past year.
The service completes transfers in seconds, a significant improvement over other services’ two- to five-day wait times.
Recent OCBC developments
| Timeline |
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06-Nov-2024 🤝 OCBC, Ant International team up on tokenized deposits
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20-May-2016 🎤 OCBC claims to be first Singaporean bank to use voice recognition for transactions
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17-May-2016 🚀 OCBC introduces open APIs, claims to be first in region to do so
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29-Mar-2016 ⌚ OCBC brings mobile banking to the Apple Watch in Singapore
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03-Feb-2012 🏦 OCBC bank most popular among S’pore start-ups, but it’s probably not the best
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