Adapting to Change Amidst Volatility ??
?? Founder's Note
February has been a tumultuous month on the global stage, with rising trade tensions leading to greater volatility in currency markets. As businesses adapt to the evolving landscape of cross-border trade, we remain committed to delivering reliable FX solutions that help you navigate these changes with confidence.
Our priority is to ensure you’re equipped to respond to market shifts and make the most of new opportunities, especially in the ASEAN region. Whether it’s optimising FX costs or improving cashflow, we’re here to support you every step of the way.
As we step into March, we also want to take a moment to wish all those observing Ramadan a peaceful and blessed month. Ramadan Mubarak! May this time bring you reflection, connection, and success in all that you do.
Looking ahead, we’ll be sharing practical tips on managing FX risks and keeping you updated on market trends that could impact your business. Thank you for choosing us as your partner during these uncertain times.
Onward and upward,
Hiro Kiga
???Ongoing Promotions
We’re capping?all?outbound cross border fund transfers made through local channels to selected ASEAN currencies (IDR, MYR, THB, VND, PHP) at?SGD 5! Enjoy this promotion for a limited time only.
?? 1-Minute Facts: MT103, the Ultimate Paper Trail?
MT103 is a standard message used in the SWIFT system for international bank payments. It is widely accepted as a proof of payment when sending money from one customer to another across borders.
What it includes:?Details about the sender, the recipient, the amount, currency, and payment instructions.
Why it’s useful:
Requesting for an MT103 from the bank usually costs around USD20 to 50. On the Wallex platform, the fee is waived – it’ll be available to download as soon as the SWIFT payment is completed, free of charge.
??? Wallex 2.0 Product Updates
The launch of our Wallex 2.0 platform has been a huge success, with over 70% adoption rate. The upgraded user interface has brought significant benefits, including a?36% reduction?in time spent on sending payments.
As part of this transition, access to the classic Wallex 1.0 interface will be officially discontinued on 5 April 2025. Rest assured, we are dedicated to continually improving your experience on Wallex 2.0 to ensure it remains as seamless and efficient as possible.
If you have any questions or concerns, don’t hesitate to reach out to your Account Manager. We’re here to help!
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