In its latest report in April and May, the World Bank forecast that Vietnam and Southeast Asian countries will witness a fall of 13 per cent in remittances this year due to the global recession, which will still be lower than the worldwide 20 per cent. Check with your payee for details, if necessary. Share gift link below with your friends and family. We made a justified decision, Khimki buy Zinkovsky from Krylia for 50 million rubles (SE), Ozdoev - the best player of the Russian national team in the match with Hungary according to users of Showsport and Mir payment system, Ignatov does not want to go on loan and intends to break into the base of Spartak, Khvicha has 3 goals in the last four matches, De Boer is the 3rd coach in the history of the Dutch national team without a win in the first three matches, http://www.straitstimes.com/business/banking/japans-seven-bank-dbs-in-money-remittance-deal. Licence No. In most cases, the remittance will be sent to the intermediary bank within 7 business days from the date of application. This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. A version of this article appeared in the print edition of The Straits Times on October 01, 2020, with the headline 'Japan's Seven Bank, DBS in money remittance deal'. Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up. 87/GP-BTTTT In-depth analyses and award-winning multimedia content, Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*. varun dhawan wheel pose. Seven Bank announced that it will first provide remittance services to Vietnam with a money remittance platform supplied by its partner DBS Bank. Last year, the World Bank revealed that the amount of remittances reached $16.68 billion, increasing by 6.4 and 13.2 per cent compared to the $15.9 billion in 2018 and $13.8 billion in 2017, respectively. Read more at straitstimes.com. This article is now fully available for you, Please verify your e-mail to read this subscriber-only article in full. All Rights Reserved. Nguyen Quoc Viet Seven Bank's customers can open an … This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. Japan's Seven Bank, DBS in money remittance deal, Ottawa still promising but not delivering on new commercial rent relief program, Honduran caravan heads towards U.S. to escape pandemic-induced poverty. For inquiries, Filipinos in Japan may contact Seven Bank Customer Center for International Money Transfers: 0120-033-253 from 10:00 a.m. to 8:00 p.m. (except public holidays) You may also visit BDO Remit office located at Zenken Plaza II, Nishi-Shinjuku,1-3-13 Shinjuku-ku, Tokyo, 160-0023 Japan. A DBS spokesman said DBS Remit is available to DBS customers in Singapore, Hong Kong, India and Indonesia, enabling remittance to over 50 countries in 17 currencies. Mr Sim S. Lim, DBS’ group head of wealth management and consumer banking, noted that the Covid-19 pandemic has catalysed work-style reforms worldwide, and it was a “win-win situation” for DBS to partner Seven Bank in building its digital ecosystem. We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. Prepare your Residence Card and My Number (If the applicant is a foreign national). No. DBS handles an average of $12 billion in money remittance yearly, compared with Seven Bank's 65.4 billion yen (S$847 million) last year. DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan’s Seven Bank, in the second such arrangement for the Singapore lender. Remittance transfer will be easier thanks to advanced application services DBS Bank has lately signed a memorandum on the deal to provide its money remittance platform to Japan’s Seven Bank. Seven Global Remit representative director Yasuharu Ueki noted that the average cost of remitting money from Japan is 9.56 per cent of the sum sent abroad. ★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional. Ralph Lauren to lay off thousands as pandemic dulls luxury fashion, EU gets $4bn bargaining chip in US trade row, Citigroup wins freeze on funds mistakenly sent to Revlon creditors, S&P, Dow futures dip ahead of jobless claims report, Stocks set for horror week, best for dollar since April, Is Britain DOOMED? Seven Bank president Yasuaki Funatake said tapping DBS' digital remittance system will enable it to reduce costs for its retail customers, who will be able to send money abroad at any time. Seven Bank President Yasuaki Funatake said that tapping DBS’ digital remittance system will enable it to reduce costs for its retail customers, who will be able to send money abroad at any time. 198402868E. It is anticipated that the annual growth will reach 21.5 per cent from 2020 to 2023, resulting in $47 million in 2023. Seven Bank president Yasuaki Funatake said tapping DBS’ digital remittance system will enable it to reduce costs for its retail customers, who will be able to send money abroad at any time. A DBS spokesman said DBS Remit is available to DBS customers in Singapore, Hong Kong, India and Indonesia, enabling remittance to over 50 countries in 17 currencies. Seven Bank president Yasuaki Funatake said tapping DBS’ digital remittance system will enable it to reduce costs for its retail customers, who will be able to send money abroad at… Remit money 24 hours a day 365 days in a year to about 200 countries worldwide using Seven Bank International Money Transfer Service. Additionally, Vietnam’s remittance market is known as the second largest in Southeast Asia and the ninth in the world, as per the World Bank. Subscribe now and receive the latest news and updates! STEP. Thanks to the agreement, DBS Bank will reduce costs for its retail customers who will be able to send money abroad at any time. Williams is now facing charges in connection with seven bank robberies throughout Arizona since June 2020, including: June 26, 2020, Deer Valley Credit Union, 15613 West Bell Road in … Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up. While Seven Bank charges 4.1 per cent, it expects the fee to be less than 3 per cent with the use of DBS' system. This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. Banks slash UK commercial property lending as default fears mount, Huawei besieged on new European front after US targets cloud, Amazon workers say Prime Day rush breaks COVID-19 safety vows: Report. This is the second time DBS is providing its application programming interface to a foreign bank, following a similar arrangement with an undisclosed Asean bank. The amount of account registration fee varies by bank and account type. Get unlimited access to The Straits Times and more at S$ 0.99/month. According to the Ministry of Justice of Japan, Vietnamese is ranked as the third biggest community in Japan, following China and Korea. DBS Bank signed an agreement yesterday to provide its money remittance platform to Japan’s Seven Bank, in the second such arrangement for the Singapore lender. Address: 47 Quan Thanh St, Ba Dinh Distr, Hanoi, Vietnam - Tel: (024) 3845 0537, Noting that the foreign resident population in Japan has been increasing, Mr Funatake expected demand for the remittance service, first introduced in 2011, to go up. 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