CALISTA TranSwap Pay FAQ

Frequently Asked Questions (FAQ)

How do I send money overseas with CALISTA TranSwap Pay?

Simply register here (https://calista.transwap.com/signup) to get started! Once your account is verified, you will be able to track and manage your cross-border payments. Our dedicated support team is also ready to provide any help you might need.

Are there any fees?

Our fees are transparently displayed during the booking process and includes the cost of payments and wire transfers.

However, in certain cases, your bank or your recipient’s bank may charge an additional fee to send and/or receive money. These charges will be borne by you or your recipient.

Where can I send money to?

Our wide network of banks and partners allows you to make payments to more than 160 countries. This includes:

Australia, China, Europe, Hong Kong, Indonesia, Japan, Malaysia, Philippines, South Korea, Singapore, Thailand, United Kingdom, United States, Vietnam, Taiwan, New Zealand, Switzerland, Sweden, Poland, Canada

CALISTA TranSwap Pay is also constantly looking to open new currency borders to serve our clients better.

What information do I need to provide for onboarding? How do you ensure that the information is secure?

We will require the following for verification to keep your money safe and comply with the Monetary Authority of Singapore (MAS) regulations.

  • Your ID document with nationality
  • Proof of address
  • Authorization letter from directors to use TranSwap if you are not a shareholder or director
  • Company’s name and ACRA
  • Information of your directors and shareholders that own more than 15% of the business including:
    • Full name, date of birth, and country of residence

CALISTA TranSwap Pay’s platform and processes are closely managed based on the highest international standards to give you a peace of mind. Our strict security controls protect our clients’ money and confidentiality.

How long does my transfer take?

This depends on the currency that you are buying or selling and the bank that your beneficiary is using. Typically, for major currencies and leading banks, the funds will reach your beneficiary within 1 business day after we receive your funds. In extreme cases, it takes some currencies and/or banks up to 4 business days to process the transfer.

If you require the transaction to proceed urgently, please contact us by email at support.calista@transwap.com.

How can I keep track of my transfer?

You can track and manage your transfer on your dashboard anytime. We will also keep you notified on your transfer by email at each stage of the transfer. Your beneficiary will also receive an email from us when the money is on the way to them.

How do I send money to a beneficiary again?

If you have added and made a cross-border payment to a beneficiary in your account before, their details will be stored in your account. Simply click on the beneficiary’s name again in your dashboard to begin a new transaction. TranSwap also offers API, which allows businesses to make multiple recurring batch payments. Contact us at support.calista@transwap.com to customize a solution for your needs.

How will CALISTA TranSwap Pay contact me?

We will contact you via the phone number and email provided during sign up. You will have a dedicated account manager who will supporting you throughout the process for a hassle free cross-border payments experience.

Is my money secure?

TranSwap is regulated and licensed in Singapore as a remittance business (Licence Number RA No. PS20200415) by the Monetary Authority of Singapore. Our client funds are permanently held in our segregated accounts in leading global banks. This means our client funds do not form any part of TranSwap’s assets.

Am I able to cancel my transfer?

If the payment has not been processed, we will be able to help you to cancel the transfer. However, if the payment has been processed or the transfer is complete, you will not be able to cancel the transfer.

What if I entered the beneficiary’s details wrongly?

In the event that you have entered the bank account details wrongly, please contact us immediately to assist you. If the payment has not been processed, our team will be able to help you with the amendment. However, if the payment has been processed, we will have to wait for the transfer to be rejected before we can attempt to process it again with the correct details. Do note that there may be admin charges levied for these amendments.

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