Cash To Master service suspended

08 May 2020 / Singapore

Since the commencement of the Circuit Breaker period (Lock Down) beginning 7 April, services of forex suppliers or money changers have been suspended as they are deemed non-essential services.

GAC Singapore has been receiving USD and Euros directly from the banks. Due to the current commercial disruption locally and globally, banks in Singapore have depleted their stocks of physical foreign currencies especially USD and Euros.

As such, GAC Singapore has to temporarily suspend Cash To Master (CTM) services until such a time when the banks can replenish their foreign currencies and money changers are allowed to operate again, hopefully beginning 1 June when the Circuit Breaker period ends.

For further details and updates, as well as information about operations in Singapore, contact GAC Singapore at [email protected]

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