Even Tech Savvy Singaporeans Struggle To Calculate Overseas Money Transfer Rates Correctly, Say TransferWise

According to a report released earlier this month by Transferwise, the peer-to-peer international money transfer platform featured on The Money Cloud, 75% of Singaporeans are unaware of the real costs of sending money overseas.

Singapore’s citizens enjoy a reputation for being financially literate, well organised and capable when it comes to their finances, but even they struggle to understand the mysterious fees that banks have a habit of adding to their customers’ international money transfer arrangements. Read more

SEPA’s New Instant Credit Transfer Facility Allows Up To €15,000 To Be Transferred EU-Wide In Just 10 Seconds

“As of today, nearly 600 payment service providers (PSPs) from eight European countries are offering instant payment solutions based on SCT Inst.” EPC announcement, Nov 21st

What is SCT Inst? As of 21st November, the Single European Payments Area (SEPA) Instant Credit Transfer Scheme has become operational. The scheme “allows the electronic transfer of up to €15,000 Euros to be transferred across Europe in less than ten seconds, at any time and on any day of the year, including weekends and holidays.” Read more

Blockchain Startup R3 Building First Cross Border Payments Platform Using Distributed Ledger Technology

R3, the fintech startup that raised $107 million dollars of investment earlier this year has announced that it will collaborate with 22 of its member banks to build a blockchain-based platform that will enable cross border payments for both central bank and digital currencies.

R3 says that it expects the prototype to be launched before the end of 2017. The company also insists that the new platform will be the first of its kind anywhere in the world. Read more

The Top 3 International Money Transfer Apps In Asia You Need To Know About

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

A new wave of disruptive remittance startups have sprung up in Asia, providing workers and families who need to send money overseas to support loved ones with a cheaper, and easier process than ever before. Read more

WorldRemit Make Move Into Lucrative Far East Remittance Market After Joining Malaysia Bank Negara’s Exclusive Sandbox Programme

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

We may have returned from Malaysia nearly two weeks ago now, but relations between the Far Eastern Fintech hub of Kuala Lumpur and London are clearly getting even stronger!

World Remit, the London-based money transfer company that says it is handling more than 700,000 transfers to 140 receiving destinations every month, has announced that it is launching in Malaysia. Read more

Thailand’s TrueMoney Continues South East Asian Fintech Firms Push Towards The Unbanked With Move Into Myanmar

TrueMoney, the Thai Fintech company, is to enter the market for mobile money in Myanmar, adding the country to an impressive cross-border network that includes Thailand, Cambodia, Vietnam, the Philippines, Indonesia and Malaysia.

TrueMoney allows its users to deposit cash in mobile accounts or at point of sale outlets and transfer cash via a network of agents either domestically or overseas. Read more

“Top 10” Remittance Receiver & Sender UK Targeted By Hong-Kong Based TNG After Record Raise As Governments Sign Agreement

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

As expected, and following a raise of a record $115 million dollars completed in Hong Kong where the business is headquartered, fintech startup TNG is extending its strategic global money transfer partnership with Tranglo Europe Ltd, the cross-border gateway specialists, into the UK.

At the same time TNG will invest $20 million US dollars in the launch of an accompanying e-wallet service. Read more

The Money Cloud To Provide FX Comparison To 140 Countries Worldwide In Partnership With Mobile & Cross Border Payments Firm First Global Data

press release first published May 9th 2017.

The Money Cloud, a trusted leading provider of overseas money transfer comparison services founded by Emmanuel Addy and Huw Jenkins in 2014, announce today that they have agreed to partner with First Global Data Corp. (FGD) to provide their FX comparison engine and overseas money purchasing services to FDG’s Global Wallets across 140 countries around the world. Read more

Ooredoo Launches Mobile Money Service In Qatar, Partners With Aldar Exchange For International Money Transfers

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

Ooredoo is majority owned by the state of Qatar and one of the largest mobile telecommunications providers in the world with more than 100 million customers worldwide.

The company announced its partnership with Aldar Exchange last Tuesday. It will enable Ooredoo Mobile Money customers to send money directly to international bank accounts, leveraging Aldar’s remittance channels. Read more

Reserve Bank of India Approves Singapore Fintech Startup Instarem For Outward Remittance Services

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

Instarem, the Singapore based fintech startup that specialises in fast, convenient and cost-effective cross-border money transfer has won approval from the Reserve Bank of India to start facilitating overseas remittance from India.

The company say that they will start processing payments as early as November 2017, in partnership with a leading Category I Authorised Dealer (AD-I) as per RBI’s governing conditions. Read more

TNG Raises Hong Kong’s Largest Ever Fintech Funding Round To Develop Blockchain e-Wallet & Overseas Money Transfer Services

Hong Kong’s fintech community are celebrating the biggest Series A funding round in the city-state’s history, and one of the largest to have been completed anywhere in the world.

TNG Fintech Group raised a “record breaking” $115 million-dollar round which values the company at $565 million. The company, which specialises in disruptive technologies such as AI, blockchain, and cashless payments and money transfers, was founded in 2013 and employs around 300 people according to a company spokesperson. Read more

International Payments Firm Smart Transfer Claim World First; Customers Can Swap Currencies, For Free, Over Social Media

A Hong Kong based borderless money transfer firm, Smart Transfer, officially launched its P2P mobile payment platform last week, allowing senders to transfer funds using just a recipients’ phone number, email address, or social media account.

The Company claim the service is unique and could even be a world first. “There is a modern global push towards a digital and cashless society, and we want to fully leverage all digital avenues, such as social media and e-mail addresses, to revolutionise local and cross-border payments,” says Francis Lu, the co-founder and CEO of Smart Transfer, who are based out of Hong Kong. Read more

Infographic – The Money Cloud Recommends The Best Money Transfer Apps

If you are still using Western Union, Ria or your Bank to send money abroad, where have you been for the last decade! Times have changed, and tech disruption has made the process of sending money overseas a far more straightforward, efficient, and cheaper process, with the added bonus that you can shop around for the best rates and services.

In that spirit, we present 8 of our favourite money transfer apps, which you can download and use on the go with a smartphone, or at your leisure, saving yourself money in the process. Each one has different features to consider, but we’re sure that somewhere in this list you will find the one that’s right for you.

To compare rates from FCA authorised brokers as well as some of the best-regarded money transfer agencies like TransferWise or Azimo, why not try our money transfer comparison engine?

Is The Future of “Passporting” Brexit’s Biggest Problem?

Goldman Sachs have announced this week that they will begin to move some staff from London to mainland Europe as part of its “contingency plans” to help prepare the investment bank for life after Brexit.

When a major institution like Goldman’s makes such a move, it is hardly surprising, in the current climate that the markets will pay close attention to the reasons behind it. Read more

Overseas Hotel Investment & Management

According to a survey by Tranio.com, the second most popular foreign commercial property type in 2015, after flats, was hotels. However, the hotel business is complex. In addition to finding a suitable property, the most complicated issue an investor usually faces is managing this property. Tranio.com explains how hotel property management is executed, with the profit divided between the owner and the operator. In short, the owner can either manage the hotel independently or hire a management company.

Independent management

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Sending Money Abroad – Top 5 Things To Check Before You Click Send

There are all sorts of reasons to send money overseas, but whether it’s for business reasons; paying the wages of an overseas employee, for example; personal, buying a property or sending money to a new country before relocating there; or family, paying for a son’s or daughter’s education perhaps; the same rules apply when searching for the right service.

Let’s take a look at the 5 things to look out for before making a transfer. It pays, literally, to plan in advance, take your time, and consider all the options available to you. You might be surprised how many there are. Read more

Top 5 Reasons Why You Should Stop Using Your Bank for Transferring Money Abroad

Here at The Money Cloud, we were shocked to see research carried out by the Bank of International Settlements, that 85% of retail transfers are made through banks globally. There are many reasons why you shouldn’t use you bank for transferring money abroad and in this post, we have put together what we think are the 5 top reasons you should stop using your bank for international money transfers in comparison to the services The Money Cloud promote; Read more