Revolut to Remove Fees on International Remittances to India and Malaysia Amid Covid-19, Consumer News & Top Stories
SINGAPORE – Revolut will remove fees on international remittances to India and Malaysia from Thursday June 10 to July 10.
As part of this global initiative, Revolut, a financial technology company providing banking and money transfer services, hopes to help people who depend on remittances from family members abroad overcome the economic impact. of the Covid-19 pandemic.
Ms Deborah Tan-Pink, senior communications manager at Revolut Singapore, said the usual charge on international remittances is 0.3% of the amount exchanged, set at a minimum of 30 cents and a maximum of $ 9.
Revolut had removed fees on remittances to India since May 10, when the country was hit by a second wave of Covid-19 infections. The fee waiver has been extended for 30 days until July 10.
The exemption from fees on cross-border remittances has also been extended to Malaysia, which began a full two-week lockdown on June 1.
Mr. James Shanahan, Managing Director of Revolut Singapore, said: “The Malays of Singapore are the largest Malaysian diaspora community in the world … We hope this gesture from Revolut will bring a little relief to those who are not. physically able to be with loved ones at the moment. “