Type Description
Cash-out Method Direct credit to bank account in Singapore Dollar (SGD).
Supported beneficiary account type – individual and company
Transaction Turnaround Time
  • T+1 Singapore Banking day for transaction processed and credited before 5.00pm (Mon-Fri) GMT +8
  • Up to T+2 Singapore Banking days for transaction processed and credited after 5.00pm (Mon- Fri) GMT +8
  • Transaction final status received T+2 (before cutoff) or T+3 (after Cutoff) Singapore Banking day (subject to bank systems). For e.g. a transaction is processed at 11am GMT +8 on Day 1, and transactions is credited on next day (Day 2). However, Millenning’s system will only transmit the final status on the following business day(s) (Day 2 or 3) where applicable

Subjected to Singapore office timing and funds being received
Area availability All Singapore banks nationwide
Validation / Verification Account validation with beneficiary name, beneficial bank name and bank code. Payment will be credited based on valid bank account number. Accurate Sender and Beneficiary contact number is compulsory.
Account received Beneficiary received net amount as specified by Sender
Transaction Limit Transaction Limit
Maximum per Transaction SGD 9,999.00
Minimum per Transaction SGD 1.00
Compliance accumulated limit SGD 15,000.00
Service Charge Transaction fee will not be refunded upon submitted to the banks.
Cancellation Process Cancellation is on best effort basis.