How It Works (English language) - MoolahGo · How It Works (English language) How It Works (English language) Page 3 of 8 Updated as at 1/Jul/2019 5 The current competitive exchange

How It Works (English language)

How It Works (English language) Page 1 of 8 Updated as at 1/Jul/2019

A. Sign-Up and Activate Account

B. Create Money Transfer Transaction

C. Create Currency Exchange Transaction

A. Sign-Up and Activate Account

1 To Sign-Up a Personal Account: Sign-Up by clicking the menu below and follow the instructions on the screen.

To Activate a Company Account: To simplify your sign-up process, please send email to us at [email protected] and we will help you to open your account after receiving your documents.

2 To Activate a Personal Account: If you would like to perform money-transfer transactions, after signing up you would need to update your Profile and upload these documents: i. Your Passport copy (or your Singapore NRIC Front + Back if you have). If

you are using your passport, you may leave the 2nd identity document box empty

ii. Selfie photograph of yourself holding your Passport or NRIC (photo side). Example below:

iii. In “Residential Information” section, upload an image of a recent statement/letter showing your address. These are the types of statements/ letters that we can accept: • Bank Statement (without balances info) • Electricity bill • Phone bill • Income Tax or any official Singapore government letter

Note: Please remember to press “Save” after you have completed each section to avoid losing your changes. To Activate a Company Account: You don’t have to do anything as we will open and activate the account for your company.



B. Create Money Transfer Transaction

Creating a money-transfer transaction is the same for both Companies and Personal Accounts.

1 Login to your Account

2 After login, press “Money Transfer”

3 Enter the amount you would like either in the From Currency field or the To Currency field. Our system will calculate the opposite amount for your automatically as you enter.

4 Select the Purpose of your transaction. Note that as required by law, you have to enter an accurate purpose.



5 The current competitive exchange rate that we offer is shown on the screen

For Express transactions, you do not need to change the rate. But if you would like to wait for exchange rate to reach your preferred level, you may enter your own rate by turning on Advanced Options:

6 Enter your Beneficiary information. Note that the information must be accurate to avoid delays or cancellations.



Important notes for sending funds to Japan: • Enter your beneficiary’s full address in “City” field • Branch Name must include the actual name of branch (not just city

name)

7. The full payment (Fees + Transaction Value) information is displayed below. Press “Confirm” once you are ready.

8. After you confirm, you will see a Summary page displayed.

Please make a payment as shown on the screen. We accept following payment methods:

• Bank Transfer from your bank account (via Internet Banking or PayNow)

• Cheque (we can only execute your transaction at prevailing exchange rate) after your cheque is cleared



• Cash (we can only transact up to S$5000)

9 Once payment is made, MoolahGo will execute your transaction. You can monitor the status of your transaction by going to “My Transactions”, “Active”

Explanation on Status:

• Compliance Checking – your transaction has been received by us and we are doing a review of your transaction according to the laws

• Processing in Singapore – your transaction has been approved and is currently being processed by our operations team

• Processing in Destination – we have processed your transaction successfully on our side and we have sent instructions to our partner in the destination country to deposit funds into your beneficiary’s bank account. Note that our partner, according to their local laws, will also need to review your transaction and may request for additional information or reject the transaction as per their laws.

• Completed – we have received information from our partner that they have deposited funds into your beneficiary’s bank account. Note that your beneficiary’s bank may also perform its internal review on your beneficiary’s account and may hold the funds or in certain cases, reject the funds back to us.

C. Create Currency Exchange Transaction 外貨両替手続き方法 Creating a Currency exchange transaction is the same for both Companies and Personal Accounts. Please note that with effect from Apr-2019, our currency exchange service is available only for transaction amounts above SGD 10,000.



1 Login to your Account アカウントにログイン 2 After login, press “Currency Exchange”

3 Express Service – Please email us for our Buy/Sell rates

Peer-to-Peer Service – Use rates displayed or set your own rates by toggling “Show Advanced Options Select your required currency, enter the transaction amount and exchange rate. For Express Service: Please email to us to request for the exchange rate of your required currency. After you have received rate from us and decide to proceed, please enter our offer rate into A by turning off market rate in

A

A

B

B



For Peer-to-Peer (Marketplace) Service: You may wish to use the market rate or enter your own rate.



4 For Peer-to-Peer (P2P) Service: No payment needed until listing is matched For Express Service: Please pay the Transaction Value to our Bank Account below Once you are okay, please click Confirm below

Documents

How It Works (English language) - MoolahGo · How It Works (English language) How It Works (English language) Page 3 of 8 Updated as at 1/Jul/2019 5 The current competitive exchange