What remittance methods are supported? (Web version)

BiyaPay supports both local and international remittances. When you link your receiving bank account, select the country, currency, and payment method.

Local Remittance

1. Local Transfer

• Scope: Fund transfer between bank accounts in the same country or region.
• Features:
• Low fees: Usually low fees, some banks even provide free services.
• Fast: Funds usually arrive within a few minutes to a few hours, sometimes it may take 1-2 business days.
• Remittance method: Remittance is made by telegraphic transfer.
• Security: Protected by the bank’s security system to ensure transaction security.

2. Singapore FAST Remittance

• Scope: Instant fund transfer between Singapore bank accounts.
• Features:
• Instant transfer: Funds usually arrive within seconds.
• 24-hour service: 24 hours a day, 365 days a year.
• Low or free fees: The specific fees depend on the bank’s policy.
• Security: Use advanced security technologies and protocols to ensure the security of funds and information.

3. Hong Kong FPS Remittance

• Scope: Instant fund transfer between Hong Kong bank accounts and stored value payment tools.
• Features:
• Instant transfer: usually completed within seconds.
• 24/7 service: operates 24 hours a day, 365 days a year.
• Currency support: supports Hong Kong dollars.
• Security: uses advanced security technologies and protocols to ensure the security of funds and information.

4. US ACH remittance

• Scope of application: electronic fund transfers between domestic bank accounts in the United States.
• Features:
• Low cost: lower cost than wire transfers.
• Widely used: used for salary payments, bill payments, inter-personal transfers, etc.
• Transaction time: usually takes 1-2 business days to complete.

5. US ABA remittance

• Scope of application: domestic bank transfers in the United States using ABA numbers.
• Features:
• ABA number: used to identify a specific US bank or financial institution.
• Main applications: used for check processing, ACH remittances and wire transfers, etc.
• Identification function: ensure the accuracy and efficiency of fund transfers.
  International Remittances

1. SWIFT Remittances

• Scope of application: international remittances between bank accounts in more than 200 countries and regions around the world.
• Features:
• Global coverage: connecting tens of thousands of financial institutions around the world.
• High security: using highly encrypted technology and strict security protocols.
• High efficiency: usually completed within 1-5 business days, depending on the bank’s processing speed.
• Fees: may include fees from the remitting bank, the receiving bank and the intermediary bank.

2. SEPA Remittances

• Scope of application: euro payments between eurozone countries.
• Features:
• Coverage area: applicable to all member states of the European Economic Area and some other European countries.
• Unified standards: using unified payment standards and processes.
• Fast and efficient: usually completed within 1-2 business days.
• Low fees: fees are transparent, usually low, and sometimes even free.