We have lined up our frequently asked questions below for both potential members and the public
Any payments service entity who is licensed for cross border activity in Singapore can join the RAS as a member. The RAS does not accept foreign entities who maybe licensed in other jurisdictions.
Entities may apply for membership using this
Entities will need to submit their recent ACRA copy together with their application
You may need to wait approximately 2 weeks for the process to be initiated and be approved.
Membership fees currently is at SGD 1000 annually and will be pro-rated.
Our financial year ends Jun 30. Members will be issued invoices for the payment of membership fees and payment should be done before Jun 30.
No. There is only a single tier and everyone enjoys the same privileges and benefits.
Get Access to our document templates and other resources for your business.
Enhance your skills with our AML-CFT & other relevant workshops & seminars.
Learn more about current regulations & the changing payments landscapes.
Enjoy Member Discounts from the Association’s bulk purchases.
Voice out your challenges & concerns to the Regulator via the Association.
Network with your fellow associates.
There are currently over 80 members in the RAS
The Remittance Association (Singapore) was initiated by a small group of 12 founding members who had contributed immensely to the formation of the Association along with the valuable support from the Monetary Authority of Singapore
The Association was registered in April 2014 with an aim to promote best practice across the industry, raise the standard of AML/CFT compliance and act as a collective voice for all members. Today the Association has grown and is expanding its memberships as we see the introduction of the new Payments Services Act
9 Jurong Town Hall Rd, #04-02 Trade Association Hub, Singapore 609431
No. We are not a licensing authority. Licenses are approved and issued by the Monetary Authority of Singapore.
Although joining the association is not mandatory, the Monetary Authority of Singapore has actively supported the formation of the Association and encourages all licensed money transfer businesses in Singapore to join the RA(S).
The RAS will be unable to help customers in such situations. For any complaints about a remittance licensee, please contact the Monetary Authority of Singapore.
Being a member of RAS, we have been able to do a lot more networking with the other members of the industry
The Remittance Association welcomes queries, suggestions & feedback from potential members
members of the public.
You may contact the Association either by emailing or sending a message via WhatsApp. We are
available during office hours if you need to call us for any urgent matters. Email responses by the RAS
administrator may take upto 3 working days. We request for your kind understanding in this matter.
The Association was registered