KUALA LUMPUR (May 23): Public Bank Bhd has launched PB Visa Direct, a new cross-border remittance service where Public Bank's retail customers can transfer money to overseas Visa Cards through PBe Online Banking and mobile app PB engage.
In a statement today, Public Bank said it is the first bank in Malaysia to launch Visa Direct through online and mobile channels.
"PB Visa Direct allows customers to perform fund transfer quickly, safely and conveniently at anytime and anywhere to over billions of Visa cards around the world.
"It eliminates the hassles in completing detailed information of customer and recipient as it only requires recipient name and 16-digit overseas Visa card number," read Public Bank's statement.
With PB Visa Direct, funds will be available in the beneficiary's Visa card account within 30 minutes after the transaction is completed.
"This applies to Fast Fund enabled Visa cards, or else, the fund will be transferred and credited within 48 hours.
"Beneficiaries can then access the fund to make purchases and withdrawal at automated teller machines worldwide," said Public Bank.
The bank added that with PB Visa Direct, parents can now send money to their children studying abroad to meet living expenses and tuition fees whilst expatriates can pay their outstanding balance on their Visa cards directly.
As part of the celebration of this launch, Public Bank is waiving the service fee of RM10 for the service till July 31, 2016.
Moreover, customers who transfer above RM500 will receive 5% cash rewards during the campaign period.