| Frequently Asked Questions |
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 | In case of wrong account number/beneficiary name/Bank Name or Branch Name during remittance, can I correct it over telephone? |
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Answer: In case of amendment, we do not accept any request for amendment of Transaction over phone. Your physical presence is necessary at any of our branches along with your IC/EP/WP, etc and TT receipt. You have to sign a correction request letter as well.
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| The beneficiary has lost his/her original National ID card; can he/she draw money with other evidence? |
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Answer: Paying banks/agents/units always follow our remittance information. In case of any deviation as stated in the advice, you are requested to come to any of our branches with original remittance receipt & NRIC/EP/S Pass/WP accordingly for amendment.
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| Can a minor be a beneficiary for Spot Cash? |
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Answer: No, a minor cannot be a beneficiary.
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| Sometimes bank delayed to pay to beneficiary. Why? |
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Answer: There are many reasons to get the money in delay than expected.
a) Technical reasons such as internet connectivity (especially rural areas), disruption of electricity, server problems, etc
b) for cash pick up/ ready cash, wrong Pin number provided to beneficiary by sender or wrong placement of Pin to payment units by the beneficiary.
c) In case of account transfer, some rural branches of some Banks still maintain traditional system of banking and they depend on post office/courier services. So in that case we need longer time for processing than your expectation to deliver the fund.
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| Can I change the beneficiary Bank name or branch name? |
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Answer: Yes, you can. If there is any mistake in the original information provided earlier.
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| Is it mandatory to be a member of the Prime Exchange Co. Pte Ltd for remittance? |
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Answer: Yes
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| My company kept the original Work Permit and has given a photocopy of the permit. Can I get a membership card against this photocopy? |
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Answer: Sorry. We need to see the original work permit or NRIC under KYC policy.
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| I have lost my member card. Can I get another card with same number or new card with new number? |
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Answer: You can get new card with the existing member number. But you have to show your original IC.
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| Can a Singapore registered company send money to other company in Bangladesh or India through you? |
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Answer: No. We do not handle commercial remittances.
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| Can you handle corporate remittance? |
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Answer: Yes.
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| What is the difference between commercial remittance and corporate remittance? |
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Answer: Commercial remittance: One company want to send money to other company in other country for business purpose is known as commercial remittance.
Corporate remittance: A Singapore based company wants to send money to individuals in Bangladesh or India or Philippines or any other country is known as corporate remittance. This remittance must not be for business purpose.
For example:
a) A Bangladeshi/ Indian/Filipino person, who had an accident in Singapore during his working time in Singapore and now living in their respective country, can get his insurance claim from the Singapore Law firm through us. This is not a business amount.
b) A Singapore based shipping company wants to send their sailor’s salary to the sailor’s family living in Bangladesh or India or Philippines, though the sailor is now at voyages.
c) A Singapore based IT company want to send money to the free lancer’s commission to Bangladesh, India or Philippines.
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| Is there any charges for amendments? |
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Answer: So far, there is no charge for amendments.
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| Can I get remittance statement? If yes, is there any charge involved? |
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Answer: Yes, you may get remittance statement and there is no charge for it.
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