Remittance through MasterCard MoneySend

MasterCard has launched a money transfer service called MoneySend.  This service allows you to do a money transfer through your MasterCard to another MasterCard or Maestro account, and is available on the Internet.  Currently, only DBS-issued cards can be used as the funding account, and transfer money to overseas participating banks.  That also means that you can only remit in Singapore dollars to other currencies.  There is a list of participating banks available for you to check.  For current promotional purposes, the service fee is zero.  Seems like a good deal.

MasterCard MoneySend is at https://moneysend.mastercard.com/singapore/dbs/moneysend.