iFAST Global Bank (iGB), the UK digital banking arm of iFAST Corporation, has launched EzRemit, a new cross-currency transfer service for its digital personal banking customers.
The service allows customers to transfer money to over 50 countries in more than 25 currencies.
Building on its existing offerings for business clients, iGB is now extending the service to personal banking customers.
EzRemit supports transfers to international banks and over 50 e-wallets via its EzWallet feature, including platforms like TNG eWallet in Malaysia, GCash in the Philippines, and Easypaisa in Pakistan.
The service aims to provide near-instant transfers, with many completed within minutes, though processing times may vary depending on the destination, with most transfers completed within 48 hours.
Customers also benefit from competitive exchange rates updated in real-time and fee-free transfers.
As a fully-licensed UK bank, iFAST Global Bank ensures deposits are protected under the UK’s Financial Services Compensation Scheme, up to £85,000 per person.
“The bank’s digital personal banking customers can now benefit from doing cross-currency transfers to international banks and e-wallets quickly and are no longer confined to the financial players in their local markets.
This new service brings us one step closer to realising our vision of building a truly global business,”
said Lim Chung Chun, CEO, iFAST Corp.
“EzRemit is our latest commitment to delivering fast, fee-free, and seamless transfers, catering to the evolving needs of our customers in the UK and globally.
With the launch of EzRemit for our digital personal banking customers, we can offer near-instant transfers, with many completed within minutes and most within 48 hours, with variations depending on the receiver’s country and bank,”
said Simon Lee, General Manager of the Digital Personal Banking division.
Featured image credit: Edited from Freepik
