Banking Industry Launches Fast Cross-Border Remittance Services to Meet Demand for Overseas Shopping and Investment
The banking industry is introducing faster cross-border remittance services to meet demand for overseas shopping and investment. Cathay United Bank, in partnership with Visa, offers a small-amount remittance service that can be credited in as little as 30 minutes, while LINE Bank has expanded its remittance scope, enabling swift fund transfers.
📋 Article Processing Timeline
- 📰 Published: April 20, 2026 at 13:20
- 🔍 Collected: April 20, 2026 at 13:31 (10 min after Published)
- 🤖 AI Analyzed: April 20, 2026 at 13:43 (12 min after Collected)
(Central News Agency, Taipei, April 20, Correspondent Su Siyun) If banks conduct general international remittances through SWIFT, most will take 1 to 3 business days to arrive. Seeing the demand for overseas shopping and investment from the public in recent years, the banking industry is promoting faster cross-border remittance services. Cathay United Bank is launching a small-amount cross-border remittance service, with funds arriving in full in as little as 30 minutes, and LINE Bank has announced the expansion of its USD cross-border remittance scope.
Currently, cross-border payment and clearing between global banks must go through the international organization SWIFT, with USD being the primary transaction currency. Most financial institutions in Taiwan conduct general international remittances through SWIFT, which takes 1 to 3 business days to arrive. For less common countries, it may take 3 to 5 days, with fees ranging from several hundred to a thousand New Taiwan Dollars.
Due to the higher time and cost of cross-border remittances, financial institutions have continuously launched fast-arrival cross-border remittance services in recent years to meet the public's real-time cross-border fund needs.
Cathay United Bank announced today its collaboration with Visa, an international credit card organization, to officially launch its small-amount cross-border remittance service on the CUBE App. It features two major mechanisms: "no foreign currency account required" and "no pre-registered remittance account required." Users only need to have a New Taiwan Dollar account and enable non-registered transfer functionality. By completing small-amount cross-border remittances through the CUBE App, funds can be used for living expenses for overseas friends and family, children's education expenses, overseas shopping payments, or personal overseas investments.
Cathay United Bank's CUBE App small-amount cross-border remittance service integrates with Visa's global collection network, supporting 8 major currencies: USD, JPY, GBP, HKD, SGD, AUD, CAD, and THB. It provides 24/7 remittance services, with funds arriving in full in as little as 30 minutes. From now until the end of this year, a 0 NTD transaction fee promotion is being offered. Starting next year, the transaction fee will be 300 NTD per remittance.
Chen Guan-xue, Digital Officer at Cathay United Bank, stated that this collaboration with Visa is a significant step in extending digital financial applications from domestic to cross-border scenarios, further optimizing the process for general cross-border remittances that previously required pre-registered beneficiaries and lacked real-time confirmation of arrival progress.
LINE Bank (LINE Commercial Bank) also recently announced the expansion of its USD cross-border remittance service. In addition to the United States, new remittance regions include Bahrain, Japan, Canada, Liechtenstein, Singapore, the United Kingdom, Hong Kong, Switzerland, and Australia. The average fund processing time to remit to these regions is only 4.8 minutes.
LINE Bank stated that it has also reformed its foreign exchange services. After customers make a remittance, they can track the status of the funds using an "app progress bar" on their mobile phones, eliminating the hassle of contacting customer service or the recipient. (Editor: Zhang Ruoyao) 1150420
Stand with the facts, every sponsorship from you is a force to protect press freedom.
Download the CNA "One-Stop News" APP to grasp the latest news in real time.
The text, images, and videos on this website may not be reproduced, broadcast, transmitted, or used without authorization.
Currently, cross-border payment and clearing between global banks must go through the international organization SWIFT, with USD being the primary transaction currency. Most financial institutions in Taiwan conduct general international remittances through SWIFT, which takes 1 to 3 business days to arrive. For less common countries, it may take 3 to 5 days, with fees ranging from several hundred to a thousand New Taiwan Dollars.
Due to the higher time and cost of cross-border remittances, financial institutions have continuously launched fast-arrival cross-border remittance services in recent years to meet the public's real-time cross-border fund needs.
Cathay United Bank announced today its collaboration with Visa, an international credit card organization, to officially launch its small-amount cross-border remittance service on the CUBE App. It features two major mechanisms: "no foreign currency account required" and "no pre-registered remittance account required." Users only need to have a New Taiwan Dollar account and enable non-registered transfer functionality. By completing small-amount cross-border remittances through the CUBE App, funds can be used for living expenses for overseas friends and family, children's education expenses, overseas shopping payments, or personal overseas investments.
Cathay United Bank's CUBE App small-amount cross-border remittance service integrates with Visa's global collection network, supporting 8 major currencies: USD, JPY, GBP, HKD, SGD, AUD, CAD, and THB. It provides 24/7 remittance services, with funds arriving in full in as little as 30 minutes. From now until the end of this year, a 0 NTD transaction fee promotion is being offered. Starting next year, the transaction fee will be 300 NTD per remittance.
Chen Guan-xue, Digital Officer at Cathay United Bank, stated that this collaboration with Visa is a significant step in extending digital financial applications from domestic to cross-border scenarios, further optimizing the process for general cross-border remittances that previously required pre-registered beneficiaries and lacked real-time confirmation of arrival progress.
LINE Bank (LINE Commercial Bank) also recently announced the expansion of its USD cross-border remittance service. In addition to the United States, new remittance regions include Bahrain, Japan, Canada, Liechtenstein, Singapore, the United Kingdom, Hong Kong, Switzerland, and Australia. The average fund processing time to remit to these regions is only 4.8 minutes.
LINE Bank stated that it has also reformed its foreign exchange services. After customers make a remittance, they can track the status of the funds using an "app progress bar" on their mobile phones, eliminating the hassle of contacting customer service or the recipient. (Editor: Zhang Ruoyao) 1150420
Stand with the facts, every sponsorship from you is a force to protect press freedom.
Download the CNA "One-Stop News" APP to grasp the latest news in real time.
The text, images, and videos on this website may not be reproduced, broadcast, transmitted, or used without authorization.