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POSB Bank : Send Money to an Overseas Visa Card Singapore

Name of the Organization : POSB Bank
Type of Facility : Send Money to an Overseas Visa Card
Country: Singapore

Website : http://www.posb.com.sg/personal/cards/card-services/send-money-to-overseas-visa-card

Send Money to an Overseas Visa Card:

Send money to an overseas Visa card anytime, anywhere.Send money to loved ones overseas. All your recipient needs is an overseas bank account with a Visa Debit, Credit or Prepaid Card1, to receive funds almost instantly.

Related : POSB Bank Overseas Funds Transfer Singapore : www.statusin.org/6235.html

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Benefits:
Convenient: 24/7 access through iBanking or mBanking.
Simplicity: Just 3 steps to send money, you only require your recipient’s full name and Visa Card number.
Speed and efficiency: Transfers are near real-time, to over 200 million Visa Cards worldwide².
Enhanced security: All transactions are backed by DBS Money Safe Guarantee.
Affordability: Service fees as low as S$5.00 per transaction.

Login to ibanking: https://internet-banking.dbs.com.sg/posb

Terms and Conditions:

Terms and Conditions of the DBS Send Money to an Overseas Visa Card Facility
1. Definitions In these Terms and Conditions, unless the context requires otherwise, references to “we”, “us”, “our” and “Bank” are to DBS Bank Ltd and references to “you”, “your” or “Customer” means the customer of the Bank using the DBS Send Money to an Overseas Visa Card Facility. “DBS Send Money to an Overseas Visa Card Facility” or “Facility” means the money transfer facility made available by the Bank to the Customer in accordance with these terms and conditions. “Current Account” means any DBS Singapore Dollar current account maintained by the Customer. “Savings Account” means any DBS Singapore Dollar savings account maintained by the Customer. “Recipient Card” means all personal card bearing the name VISA and/or service mark of VISA and issued by any bank or financial institution situated overseas.
2. You may use the Facility to debit such sum from your Savings Account or Current Account and transfer the said sum to any Recipient Card.
3. You may transfer a maximum of S$2,500.00 per transfer (or such amount as the Bank may determine) and the total amount transferred per day is S$2,500.00 (or such amount as the Bank may determine).
4. You will pay such charges and fees for the provision of the Facility as the Bank may prescribe from time to time, whether or not you in fact make use of the Facility, and such amounts, charges or fees chargeable by the Recipient Card’s issuing bank.
5. The Bank and/or VISA International Service Association (or such other relevant party) (“Relevant Party”) shall effect the transfer of such sum to the Recipient Card in accordance with the information and/or instructions provided by you, in the currency of the Recipient Card converted from the Singapore currency at such prevailing exchange rate on such date as the Bank or the Relevant Party may determine at its discretion.
6. You shall ensure that all information and/or instructions provided by you to the Bank for the purposes of effecting any transfer under the Facility is complete, true and accurate. You further agree to provide such further information that the Bank may require for the purpose of effecting any transfer.
7. The Bank may act upon, rely on or hold you solely responsible and liable for all instructions transmitted to the Bank (whether actually provided by you or not) and the Bank shall not be under any obligation to investigate the authenticity or authority of persons effecting the instructions or verify the accuracy and completeness of the information. You agree that the Bank may treat the information as valid notwithstanding any error, fraud, forgery, lack of clarity or misunderstanding in the terms of such information and/or instructions.
8. Whilst the Bank endeavours to effect the transfer on receipt of your instructions, you agree that the instructions may not be processed immediately due to:
a. instructions being inaccurate, inadequate or incomplete in any way; or
b. any failure, refusal, delay or error by any third party through whom any such instruction is transacted.
9. Where the Bank chooses to act on an instruction, the Bank acts on a commercially reasonable effort basis and are not responsible for any acts and omissions while acting in a reasonable manner in complying with/acting upon the instructions.
10. You acknowledge and agree that the Bank may:
a. without stating reasons, require that you identify yourself by alternative means;
b. require any instruction to be confirmed through alternative means (including but not limited to writing in person at a branch, by facsimile or by phone);
c. reject any instruction for a funds transfer under the Facility or approve only part of the amount requested for transfer under the Facility without assigning any reason;
d. decline to act on the instruction in order to verify the authenticity of the instruction;
e. determine the order of priority in effecting the instruction and other existing arrangements you have made with us (including but not limited to standing orders, GIRO, cheques);
f. decline to act on the instruction where the instruction:
i. is ambiguous, incomplete or inconsistent with your other instructions, information and/or data; or
ii. may have lapsed or is rendered invalid by the Bank and/or VISA International Service Association (or such other relevant party); or
iii. would cause you to exceed your applicable transaction or account limit; or
iv. would result in any insufficiency of funds in your Savings Account or Current Account, without incurring any liability for loss, cost or expense.
11. The Bank shall not be liable to you in any way for any loss, cost, claims, expense or damage incurred by us whatsoever or howsoever caused, whether arising directly or indirectly, in connection with the Facility (including but not limited to the delay or failure in transmission of instruction by the Bank, delay or failure of transmission of instructions by VISA International Service Association or any other entity involved in the process of the funds transfer or due to any government order, court order, law, levy, tax or exchange restrictions).
12. The Bank shall be entitled at any time and without notice to you to perform any or all of the following:
a. appropriate, set-off or debit all or part of the balances in your Savings Account or Current Account (as the case may be) to pay and discharge all or part of your liabilities to us; and where required, earmark any amount credited or expected to be credited into the said account(s); and/or
b. refuse any withdrawals from the Savings Account or Current Account where the said account(s) is earmarked for sums owing to us until such sums are paid in full.
13. The Bank does not warrant the security of any information sent or transmitted to it whether electronically or otherwise and you accept the risk that any information sent or transmitted to the Bank may be accessed by unauthorised third parties.
14. The Bank shall not be liable for any unauthorized transactions and you agree to fully indemnify and hold the Bank harmless against any action, suit or proceedings initiated against it and for any loss, cost (including legal costs on a full indemnity basis) or damage incurred by us as a result thereof or arising from us acting on your instruction to effect the transfer.
15. The Bank may:
a. withdraw the Facility entirely; or
b. terminate the Facility upon the earlier termination of (i) the Savings Account and Current Account; or (ii) the Recipient Card, without notice and without incurring any liability or responsibility whatsoever by reason of such withdrawal or termination.

Categories: Singapore
Tags: posb.com.sg
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