Remittance – Frequently Asked Questions
How can you help me with my remittance?
We are a marketplace platform that compares different remittance service providers for you and get you the best one. Also, we do not ask you to top-up before hand. You pay after you have confirmed to a rate and fee that you are comfortable with.
How to join YBPay?
You need to have a registered account with YBPay first. Click the “Use App” button on our Facebook page (https://www.facebook.com/ybpayremit…) or download our app ‘YBPay Money Transfer’ from App Store or Google Play and sign up for an account.
I forgot my password, how do I reset?
Under the Log in Page, press “Forgot”, you will then receive an SMS to reset your password.
What is my sending limit?
By default, the standard remittance limit on our platform is: maximum of 20,000 HKD or 20 transfer every 3 months. There is also a maximum of 5 transfers per week. We and all of our remittance service providers take anti-money-laundering very seriously and strongly discourage anyone sending remittance not on their own behalf.
You may contact us to request for an increase of remittance limit and approval will be granted case-by-case.
Where can I top up my account?
We do not ask for top-up, you place the remittance order first and pay after so that money is always safely with you, not us. Also, we are different from other apps - we are a marketplace platform that compare different remittance service providers for you and get you the best one.
How do I send money with YBPay?
You will need to get your identity verified before you can send any money. Please go to Profile > click Identity to fill in your personal information and upload your ID document.
Next, you will need to add a beneficiary (recipient). Please go to contacts > click the top right button > then click on Add Beneficiary.
Please make sure you put in their correct first name, last name, phone number and in the bottom section, add their account Information for them.
The transfer will be done within 5 minutes after you pay for it.
Currently, our service providers support pay-in at 7-11 or at our service provider’s offices. If you pay-in at 7-11, you may just show 7-11 the QR code on the payment page and pay exactly the amount shown on the screen.
Can I cancel my transfer after confirmation?
Yes, but is it not advisable to cancel too often as our service providers might choose to stop providing remittance service to you if it is done too often. This might affect you from getting the best rates and lowest fees.
Where do I pick up the money in Philippines/Indonesia?
For Philippines, our service providers currently support Cebuana though they will soon be supporting Banks, Palawan, Mhuiller and etc soon.
For Indonesia, you can send your money to any Bank, DPU eWallet, or Alfamart, Indomaret, Pegadaian, or Koperasi if your beneficiary prefers to pick up cash.
Do I need to go to your office to register?
To clarify, we are an online/mobile marketplace that helps you find the best rates and lowest service fees from various remittance service providers, it is not required of you to come to our office to register. You may choose to pay-in at any 7-Eleven or at one of our service providers’ offices:
Central: 7/F, Hung Tak Building, 106 Des Voeux Road Central, Hong Kong North Point: Room A, 11th Floor, North Cape Commercial Bldg., 388 King’s Road, North Point, HK.
Causeway Bay: Flat B, 6/F, Fair View Commercial Bldg., 27 Sugar St., Causeway Bay, HK.
Tsuen Wan: Flat 1137, 11/F, Nan Fung Centre, No. 264-298 Castle Peak Rd, Tsuen Wan N.T.
Shatin: Shop Nos. 43, Level 3, Shatin Centre, Shatin, New Territories North Point: Shop 16, G/F, Coronet Court, 321 Kings Road, North Point
What is the Minimum and Maximum remittance amount?
It depends on the Service Provider you choose.
What is the cable fee/What is the service fee/How much do you charge?
Different service providers have different pricing schemes on our marketplace. Having said that, however:
For Philippines, on average, we see that the cable fee is around HK$19 per transaction across our various service providers.
For Indonesia, on average, our service providers are charging around: i) HK$19 per transaction (for Banks); OR ii) HK$0 per transaction (for DPU eWallet, Alfamart, Indomaret, Pegadaian, or Koperasi).
Please note that if you choose to pay through 7-Eleven, on top of the cable fee, 7-Eleven will charge an extra $10 Service Fee.
Is there any reward for referring my friends?
Yes, you can earn YBCoins by referring your friends. Click here for more information: http://www.ybex.io/guide/ybcoins/
How can I earn YBCoins?
To earn YBCoins, you can i) share your referral code to your friends. Both of you can earn 20 YBCoins after; ii) Rate your experience and give us feedback after each transaction. Besides, to apply YBCoins, you can simply check the box at the bottom of the page while you are choosing your service provider. For more information, please refer to the User Guide of YBCoins Scheme: https://www.ybex.io/guide/ybcoins
How long does it take to verify my account?
Your account will be verified within 24 hours and you will receive an email when your account has been verified.
How long does the transfer take?
It may take sometime for our service provider to verify your payment information, but once the payment information has been verified, your recipient should be able to pick-up the money.
Message us on our Facebook page should you have other questions!