TERMS OF USE



This Agreement is a contract between you and SingX and applies to your use of the SingX services (the "Services"). Where you are undertaking a transaction which involves SingX Singapore Pte Ltd, the terms below shall similarly apply for the use of SingX Singapore Pte Ltd services. In such an instance, references to “SingX” shall be replaced with SingX Singapore Pte Ltd in these terms.

By registering for the Services, you must read, agree with and accept all of the terms and conditions contained in this Agreement. This Agreement is provided to you and concluded in English. You agree that any use by you of the Services shall constitute your acceptance of the Agreement and we recommend that you store or print-off a copy of the Agreement (including all policies) for your records.

Please read this Agreement carefully and make sure that you understand it fully before using the Services. Please note that if you do not accept this Agreement, you will not be able to use the Services.


Our Relationship With You

SingX is licensed by the Monetary Authority of Singapore (“MAS”) as a major payment institution under the Payment Services Act 2019 ("PSA") to carry on account issuance service as well as cross border remittance service under license PS20200369.

SingX Singapore Pte Ltd has its registered office at 138 Cecil Street, #04-01, Singapore 069538.

As a Payment Service Provider, we work with licensed remittance operators in the respective markets (the “LROs”). When you provide your information to SingX, such information will be shared with the respective LROs in the markets for which you are undertaking a transaction utilising the SingX platform and such LROs shall have an independent right to your personal information. Please read our Privacy Policy for further details on the collection, disclosure and use of your information. Please also read details of each LRO on the website before your commence any transaction via SingX.

The Services are operated by SingX Pte.Ltd. incorporated in Singapore (company number 201433979Z) with its registered office at 138 Cecil Street, #04-01, Singapore 069538.

The main business for SingX is cross-border payments which include remittances, payment of bills, mobile top-ups and gift cards. To facilitate these payments, SingX allows customers to open an account/ Wallet/Account. Please note that SingX is not a bank and therefore the Singapore Deposit Insurance Scheme (SDIC) does not apply.

When you undertake a transaction which includes SingX Singapore Pte Ltd, the terms contained herein shall similarly apply for the use of the SingX Singapore Pte Ltd services.

1. Your Privacy

Protecting your privacy is very important to SingX. Your passwords are stored on SingX servers in encrypted form. We do not disclose your account details, postal or email addresses to anyone except when legally required to do so and as specified in our Privacy Policy.

Sensitive information between your browser and the SingX.co website is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information, you should always make sure that your browser can validate the SingX certificate.

In order to facilitate the opening of your account digitally, you authorize SingX to disclose your personal information such as ID documents to third parties for the purpose of conducting customer due diligence. Once your account has been opened, you authorize SingX to disclose your personal information as needed in investigations of fraud or other illegal activity where we believe it is reasonable and appropriate to do so.

2. Transaction History

You can access your details of executed payment transactions and other information relating to your Account by logging into SingX and clicking on the "My Transactions" tab. This clause shall not apply for SingX Singapore Pte Ltd.

3. Duplicate accounts

SingX may refuse to create duplicate accounts for the same user due to security and client identification requirements. SingX reserves the right to refuse the creation of duplicate accounts or accounts which are linked to bank accounts not belonging to you due to security and client identification requirements. In such cases, SingX reserves the right to close these accounts without notification.

4. Eligibility

To be eligible for our Services, you must be at least at the minimum age under the laws of your country of residence. You further represent and warrant to us that if you are an individual and you open an Account with us that you are not acting on behalf of an undisclosed principal or a third party beneficiary.

Before being able to use the Service we have to perform mandatory customer verification. For that we may require a physical verification and/or ask for photographic evidence of your identity such as a copy of your passport. It is possible to provide this evidence through scanning and uploading such information on the SingX site or through providing such information to our authorised agents.

SingX reserves the right to access various government and private databases so as to verify your information (so called “electronic ID”). If certain databases provide a match to the information you provide then we may not have to ask for photographic evidence of your identity

SingX reserves the right to refuse to accept any new user or any transaction at its discretion. If incomplete details are provided or if you do not provide information requested by SingX to complete its customer verification and meet the anti-money laundering requirements as required by relevant authorities, SingX reserves the right to refuse to proceed with the account opening and/or the transaction.

5. Using the Service

Using the SingX Wallet/Account:

(a) Your SingX Wallet/Account allows you to hold, send or receive stored value/payments.

(b) The stored value held in your SingX Wallet/Account does not expire other than when your account is closed.

(c) The stored value held in your SingX Wallet/Account will not earn any interest.

(d) You may hold your stored value in SGD. SingX may allow you to hold the stored value in other currencies which we support from time to time.

(e) You may withdraw money from your SingX Wallet/Account at any time by writing to us at help@singx.co. We do not allow withdrawal in cash. Withdrawal can be made to your designated bank account only. You must be the main or joint holder of such a bank account. The charges for withdrawing money from the SingX Wallet/Account back to your bank account are mentioned in Para 15.

(f) The maximum amount that your SingX Account / Wallet/Account can hold at any time is SGD 5,000 (or such equivalent aggregate amount in foreign currencies) and the total value you can transfer from your SingX Wallet/Account in any period of one year may not exceed SGD 30,000 (or such equivalent aggregate amount in foreign currencies) under PSA requirements. Sending money from your SingX Wallet/Account to personal bank accounts in Singapore or overseas doesn’t count towards the SGD 30,000 limit.

(g) SingX may at its sole and absolute discretion reject your request for a payment transaction, or refund a payment or other transaction, for any reason whatsoever, including without limitation, where your SingX Wallet/Account would cause the aggregate amount of your balance, directly or indirectly to exceed any value permitted under the prevailing laws and regulations or any other regulatory or risk limit prescribed for that SingX Wallet/Account.

(h) The stored value held on your SingX Wallet/Account belongs to the person or legal entity which is registered with us.

(i) Unless you have our consent in writing, you must not allow anyone to operate your SingX Wallet/Account on your behalf.

(j) Safeguarding: We use safeguarding to protect your money. As required by the PSA, SingX keeps your money in established financial institutions. Your money is deposited in SGD (or in SGD equivalent) into a dedicated and segregated account held by us with DBS Bank Ltd (DBS) as our safeguarding institution. If money in your SingX Wallet/Account is held in currency(ies) other than SGD, we will convert such money to SGD using either Reuters mid-market rates or where Reuters mid-market rates are unavailable, XE mid-market rates, before placing such SGD or SGD equivalent amounts with DBS for safeguarding. We currently don't offer or charge interest on money in your balances or account held on trust. All monies in this dedicated customer segregated account are held on trust by us for you. Such monies in the dedicated customer segregated account are always kept separately from the accounts we use to run SingX, and we will not use the money held in such account to repay any debts that we may owe to any other party. If we were to become insolvent, you will be able to make a claim for your funds from this segregated account. We will return your money in the SingX Wallet/Account to you in SGD, and where your monies held in the SingX Wallet/Account is held in currency (ies) other than SGD, we will use the Reuters mid-market rates or where Reuters mid-market rates unavailable, XE mid-market rates, to determine the SGD equivalent amount to be paid to you on the day when payout instruction is given. Please note that you may not get all your money back in SGD equivalent if (i) the funds in the dedicated and segregated account held by us with DBS is insufficient to meet the payout instruction; or (ii) if the safeguarding institution becomes insolvent.

Using the SingX for Cross Border Remittances:

You are solely responsible for the accuracy and validity of the information provided by you. SingX will process transactions based on the information provided by you and takes no liability whatsoever for erroneous credits to receivers. If a transaction is returned back you can either:
(i) create a fresh transaction and instruct us to reprocess the transaction or
(ii) request a refund
If you wish to re-process the transaction, please note that SingX reserves the right to re-process the transaction at an exchange rate at which the transaction was originally done, or at current prevailing rates. You will also be liable to pay all additional bank charges and administration charges for reprocessing the transaction. Should you wish to get a refund instead, SingX will make a refund net off any SingX fees and third party charges and Foreign Exchange adjustments incurred in processing these transactions.

You should be aware that, each transaction you create has a specified validity based on the time you created this transaction on the SingX platform. The period of time for which the transaction is valid may change from time to time at our sole discretion, and will be confirmed to you at the time of completing the transaction on the SingX platform.

It is solely your responsibility to ensure that the funds reach the local bank account specified by us before the validity of the transaction expires. If the funds reach us after the validity of the transaction expires, then the transfer will fail and we will need to refund your funds.

From time to time, we will identify on the Website the currencies for which the Service is available. Available currencies are subject to change at our sole discretion

You should note that while it is our obligation to ensure that funds arrive at the Receiver’s bank account or payment account within the stated timelines, we do not control the time it takes for the Receiver’s bank or payment provider to credit and make available funds to the Receiver.

If your account is onboarded after 16 January 2020, please note that the cancel feature has been discontinued. If you have created multiple transactions which are valid, we may at our discretion, choose any of those transactions to match against a specific bank transfer made by you into our account.

You should further note that the above timelines are subject to all necessary security and customer identification checks being conducted in line with our security and identification guidelines. If further investigation or the collection of additional information from you is necessary, we will let you know, but this may result in a cancellation of the transaction.. If required by a regulator, we may withhold your funds in any transaction through our website

On June 1st 2020, SingX launched cash pay-outs for Philippines. This means that when sending money to Philippines, you have the choice of sending the credit either to a bank account, or have your receiver collect it in cash from one of the pick-up locations mentioned while creating a transaction.

All cash payments are subject to (i) receivers showing documentary evidence of their identity (ii) providing all details about the money transfer as required by the pay-out partner such as sender’s name and/or receiver’s name, country of origin of remittance, receive amount and/or transaction reference number/PIN code sent to the receiver via SMS and (iii) any other conditions or requirements applicable at the Pay-out Partner location. While these requirements will be provided to you on a best effort basis, it is your receiver’s responsibility to check and fulfil all the requirements of the pay-out partner. Cash money transfers shall be paid to the person that Pay-out partners deem entitled to receive the money after verification of identity often through examination of identification documents. It is your responsibility and your receiver’s responsibility to ensure that you do not divulge the PIN or other details to anyone. It is also your responsibility to ensure that your receiver does not send this PIN to anyone else, and understands the risks of doing so, especially via insecure electronic communication. Neither SingX nor its Pay-out Partners shall be liable for money being picked up by a person other than the intended beneficiary.

Your receiver will need to pick up the cash within 28 business days. After this the transaction will be reversed and we will refund the money to you after deducting relevant charges once we recover the money from our pay-out partner.

This clause shall not apply to SingX Singapore Pte Ltd


6. Exchange Rates

SingX makes reasonable efforts to undertake transactions at exchange rates aligned to the mid-market rate. SingX relies on aggregated third party information sources and does not guarantee that the rates match any particular benchmark source at any given time.

We reserve the right at our sole discretion to refuse a transaction (including but not limited to: restricting the creation of a new transaction as well as cancelling a transaction already in process). For transactions refused by us, we will notify you as promptly as we reasonably can, provide a reason where it is possible to, and arrange for a refund where applicable. More specifically, the exchange rate may change between the time of posting a transaction and when we receive your money. If the rate changes by more than a certain pre-determined percentage (indicated to you at the confirmation stage), we reserve the right to put the transaction on hold and email you; or refuse the transaction.

7. Transaction Limits

The minimum and maximum transaction limits for transactions may vary depending on the market and we reserve the right to change these limits from time to time.

8. Sending Money

When creating a transaction, you may choose to use money from your SingX Wallet/Account/ Account or send a fresh transfer from your bank account. Note that for any transaction, you can either use the balance in your SingX Wallet/Account / Account or make a fresh transfer. A combination of both methods is not permitted. All US dollar or Singapore Dollar payments must originate from your Singapore bank account. You must be either the main account holder or the joint account holder of the bank account from which you send money to us. Transfers from accounts that do not belong to you (including those of your spouse or family members) are strictly prohibited. You are responsible for all charges, including your bank charges, in transferring the funds to us.

9. Refused Transactions

SingX may refuse to proceed with the transaction if we cannot match the your name registered with SingX with the name on your bank account from which you send the money. In this case you may be liable for an administration charge. Please refer to section 12 for details.

10. Cancellation of Transactions

You may cancel your transaction any time before sending the money to our bank account. You will not be able to cancel the transaction once it has been actioned by us. SingX reserves the right to allow/ disallow cancellations of a transaction. SingX Fee will not be charged on a cancelled transaction.

If your account is onboarded before 16 January 2020, ‘cancel’ button was offered. The purpose of this ‘cancel’ feature was to enable customers to cancel a transaction should there be an error in the transaction created. This ‘cancel’ feature is not meant for customers to re-book a previously book transaction at preferential rates. SingX reserves the right to remove this ‘cancel’ button from any customer at its sole discretion. For customers onboarded after 16 January 2020, please note that the cancel feature has been discontinued. If you have created multiple transactions which are valid, we may at our discretion, choose any of those transactions to match against a specific bank transfer made by you into our account. If you have made an error while creating a transaction, please write to us at help@singx.co.


11. Adding Money to your SingX Wallet/Account

To add value, you need to login into your SingX Account and follow the steps as they appear on screen. Money needs to be sent from a bank account where you are the main or joint account holder. We are not responsible for the money you are adding to your Wallet/Account / Account until we have received this money and confirmed that this is coming from your own bank account.

12. Withdrawing Money from your SingX Wallet/Account

If you wish to withdraw the balance in your SingX Wallet/Account, please write to us at help@singx.cowith the request. Please send us the bank name, bank account number, and account name, to which you wish to make a withdrawal, in writing. You must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful. You agree that the SingX Wallet/Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you provide additional documents to us so that we could carry out additional checks before allowing the money to be withdrawn. The charges for withdrawing money from the SingX Wallet/Account back to your bank account are mentioned in Para 15.

13. Your Obligations

You are responsible for ensuring the payment details you provide are accurate. Once payment instructions have been executed by SingX, transactions cannot be reversed and SingX will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.

In the unlikely event that you notice an error in either the payment sent or received as a result of using the Services, then you should immediately notify us at help@singx.co.

You agree not to use the Services for any unlawful activity and SingX reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, SingX reserves the right to report suspected unlawful activity to any appropriate person or body and to provide them with any relevant information, including personal data.


14. Fees

SingX charges a fee on every transaction depending on the country you are sending money from/ to. Fees relating to the transaction are clearly displayed on the transaction page before you confirm proceed with a transaction.

SingX may charge an administration fee for transactions which are not successful and a refund has to be processed.

By default, the refunds upto SGD 5000 will be credited to your SingX Wallet/Account. There will be no administrative charge for this. In order to withdraw money from your SingX Wallet/Account into your bank account, a processing fee of SGD 2 will be levied.

Refunds of amounts greater than SGD 5000 cannot be made to the SingX Wallet/Account. These will be made to your bank account after deducting a processing fee of SGD 2.



SingX may change from time to time, the administrative fees it charges for refund cases and reserves the right to do so at its sole discretion.


15. Time frame for processing refunds

All refunds arising from cross-border payment transactions will be made to your SingX Wallet/Account/ Account.

To withdraw this amount from your SingX Wallet/Account to your bank account, please do write to us at help@singx.co. SingX will endeavour to process your withdrawals in a reasonable time frame. Generally, a bank transfer takes between 1–3 working days to appear back in your account.

In cases where the money is held by the compliance teams of our pay-out partners or your beneficiary’s banks, we will not be able to initiate the refund until the money is returned to us by the pay-out partner or beneficiary bank. Refunds are generally processed by SingX at the end of the working day, however if you need a refund to be processed urgently, please write to us at help@singx.co. If the email is received within working hours, we will be happy to assist and process the refund for you on an urgent basis at an additional charge of SGD 2.


16. General Terms

  1. Third Party Services

    You acknowledge and agree that SingX is partnering with the LROs and other third party partners and providers in order to deliver you the Services.

    By using our Services, you agree to be bound by any user agreements established by any LRO, third party partners and providers that SingX engages with in addition to the Terms and Conditions set out in this Agreement.

    By accepting and agreeing to the partner’s terms and conditions you expressly acknowledge that SingX is acting independently of the LROs and that SingX shall have no liability for the actions or omissions of LROs.

  2. Communications

    We are required to provide certain information to you in writing. By accepting this Agreement, you agree that we can communicate with you electronically either by email or by posting notices on the SingX website.

  3. Events Outside Of Our Control

    If we are unable to perform our obligations under this Agreement because of factors beyond our control, including a change of law, an event of Force Majeure, withdrawal of a currency or the imposition of sanctions over a country or receiver, we will notify you as soon as is reasonably practicable and will use reasonable endeavours to secure the return of any money paid by you in respect of which we have been unable to discharge our obligations under this Agreement. We will not have any liability to you where we are unable to perform our obligations.

17. Exclusion and limits of liability

You agree to use the SingX website at your own risk.

  1. SingX uses reasonable skill and care in providing its products and services to you. However (to the maximum extent permitted by law) SingX is not liable to you for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you from your use of, or your inability to use, the Website or the products or services offered through or by the Website however caused notwithstanding any error or omission including negligence.
  2. SingX shall not be liable to you or any third party for any loss, damage, claim or compensation (including loss of profit or loss of use) incurred by you resulting from the failure or delay of SingX to execute any transfer in accordance with the instructions from you.
  3. SingX shall not be liable for any fees or commissions charged by any intermediary bank or other entity when funds are deposited in your account or transferred to your personal or your receiver’s account.
  4. SingX’s maximum aggregate liability to you in respect of all foreign currency transactions undertaken by you shall be limited to a refund equivalent to any monies you have paid to SingX to acquire foreign currency.
  5. You agree that SingX will not be responsible in any way to you or any other person in the event of force majeure or for the act of any Government or legal authority.
  6. You hereby indemnify and hold blameless SingX, its directors, officers, employees and agents from and in respect of any loss, damage, liability, cost or expense that it may suffer or incur by reason of you failing to discharge your obligations under or acting in breach of any of these T&Cs or any breach of any applicable law or regulation
  7. You agree that SingX will not be liable in any way to you in the event of failure of or damage or destruction to your computer system, data or records or any part thereof or for any delays, losses, errors or omissions resulting from the failure or mismanagement of any telecommunications or computer equipment or software. You will not expose the website to any viruses, trojans or other similarly harmful or inappropriate material or device. In the event that any such viruses etc. are deemed to have been transmitted to the website from your account SingX reserves the right to terminate your account and you shall be liable for the cost to SingX of removing such viruses etc. and SingX shall have the right to set-off the cost against any balance held to the credit of your SingX account.


18. Complaints

We are committed to providing you with the highest standards of service. If you feel we have not achieved that, please send your complaints to help@singx.co.

19. Entire Agreement

This Agreement and any document expressly referred to in it constitutes the whole agreement between us and supersedes any previous discussions, correspondence, arrangements or understandings between us. We reserve the right to amend these Terms of Use from time to time without notice by amending this page. The amended Terms of Use will be effective from the date they are posted on our website. As these Terms of Use may be amended from time to time, you should check them whenever you visit our website. Your continued use of our services will constitute your acceptance of the amended Terms of Use. When making material amendments, in addition to posting these terms on the website, we will send via email, a link to the latest version of the terms.

20. Law And Jurisdiction

The provision of the Service and any dispute or claim arising out of the provision of the Service is governed by Singapore law.

Any dispute or claim arising out of or in connection with the Service will be subject to the exclusive jurisdiction of the courts of Singapore.

Definitions