Report by : Gan Yung Chyan
/ KUCINTA SETIA
The trading firms at Peninsula Plaza (the "Little Myanmar" of Singapore) are remittance shops that offer money remittance services to Myanmar. An interview with three trading firms at Peninsula Plaza shows that many Myanmar foreign labour in Singapore have no idea that they have to produce copies of the adult recipients' Myanmar ICs in order to remit money successfully to Yangon and other places in Myanmar.
The three trading firms interviewed are Thi Ha Trading, Mann Star (International) Pte Ltd and Hin Tha Trading.
The owner of Thi Ha Trading, occupying the former premise of Singaporean-owned travel agency Leo International, explains that there are two types of Myanmar ICs, the children's IC for age below 20 and the adult's IC for age 20 and above.
To remit money successfully each time at Thi Ha Trading to a Myanmar bank in Yangon for money collection by the recipient, a copy of the Myanmar adult recipient's IC and service fee of 3 Singapore Dollars are required. Address and name of the recipient on paper are not necessary.
At Mann Star (International) Pte Ltd, the owner says it is better to produce a copy of the adult recipient's IC besides address and name of the recipient on paper for the Myanmar banks' verification. Failure to do so will lead to unsuccessful remittance. She charges service fee of 3 to 5 Singapore Dollars depending on recipient's location.
Hin Tha Trading allows money collection at its Yangon branches and at Myanmar banks. For money collection at its Yangon branches, there is no service fee for remittance (to be verified by the customer) but it charges a service fee for money collection at Myanmar banks (to be proved).
Hin Tha Trading's Yangon branches are located at Thurein Hardware Center I and Thurein Hardware Center II.
The remittance shops interviewed comment that it is better to remit a larger amount of money rather than two-digit amounts in Singapore Dollars to Myanmar. Copies of children's ICs are not accepted as under Myanmar law, children less than 20 years old cannot collect money at Myanmar banks.
Thi Ha Trading advises Myanmar foreign labour who have handphones and who are currently in Singapore may contact the adult recipients to whatsapp copies of their ICs before they proceed to remit money at the shops.
There is no Internet banking system in Myanmar for on-line money remittance.
The service fee of 3 Singapore Dollars is the lowest in the Singapore market. Western Union that also has money remittance to Myanmar charges an exorbitant service fee of 20 Singapore Dollars per transaction.
Money remittance is a popular activity for foreign labour in Singapore as cash is not allowed to be sent by post from Singapore to Myanmar and other countries.
Ref : Foreign workforce numbers
https://www.mom.gov.sg/documents-and-publications/foreign-workforce-numbers
/ KUCINTA SETIA
The trading firms at Peninsula Plaza (the "Little Myanmar" of Singapore) are remittance shops that offer money remittance services to Myanmar. An interview with three trading firms at Peninsula Plaza shows that many Myanmar foreign labour in Singapore have no idea that they have to produce copies of the adult recipients' Myanmar ICs in order to remit money successfully to Yangon and other places in Myanmar.
The three trading firms interviewed are Thi Ha Trading, Mann Star (International) Pte Ltd and Hin Tha Trading.
The owner of Thi Ha Trading, occupying the former premise of Singaporean-owned travel agency Leo International, explains that there are two types of Myanmar ICs, the children's IC for age below 20 and the adult's IC for age 20 and above.
To remit money successfully each time at Thi Ha Trading to a Myanmar bank in Yangon for money collection by the recipient, a copy of the Myanmar adult recipient's IC and service fee of 3 Singapore Dollars are required. Address and name of the recipient on paper are not necessary.
At Mann Star (International) Pte Ltd, the owner says it is better to produce a copy of the adult recipient's IC besides address and name of the recipient on paper for the Myanmar banks' verification. Failure to do so will lead to unsuccessful remittance. She charges service fee of 3 to 5 Singapore Dollars depending on recipient's location.
Hin Tha Trading allows money collection at its Yangon branches and at Myanmar banks. For money collection at its Yangon branches, there is no service fee for remittance (to be verified by the customer) but it charges a service fee for money collection at Myanmar banks (to be proved).
Hin Tha Trading's Yangon branches are located at Thurein Hardware Center I and Thurein Hardware Center II.
The remittance shops interviewed comment that it is better to remit a larger amount of money rather than two-digit amounts in Singapore Dollars to Myanmar. Copies of children's ICs are not accepted as under Myanmar law, children less than 20 years old cannot collect money at Myanmar banks.
Thi Ha Trading advises Myanmar foreign labour who have handphones and who are currently in Singapore may contact the adult recipients to whatsapp copies of their ICs before they proceed to remit money at the shops.
There is no Internet banking system in Myanmar for on-line money remittance.
The service fee of 3 Singapore Dollars is the lowest in the Singapore market. Western Union that also has money remittance to Myanmar charges an exorbitant service fee of 20 Singapore Dollars per transaction.
Money remittance is a popular activity for foreign labour in Singapore as cash is not allowed to be sent by post from Singapore to Myanmar and other countries.
Ref : Foreign workforce numbers
https://www.mom.gov.sg/documents-and-publications/foreign-workforce-numbers
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