SINGAPORE - Indonesians in Singapore can now transfer money directly to the bank accounts of their family and friends back home using SingTel's mRemit service.
The mobile remittance service allows for instant fund transfers to over 80 banks in Indonesia, including Bank Danamon, Bank Negara Indonesia and Bank Mandiri. Recipients can have access to the money within minutes of a successful transaction.
The service is available to subscribers of all mobile networks and works with both smartphones as well as feature phones. Remittance fees are as low as $2.40.
As a launch promotion, SingTel will waive fees for mobile remittance transactions to Indonesia until August 31, 2014.