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DBS Bank is the first Asian bank to offer MasterCard Worldwide's funds-transfer service. Holders of DBS MasterCards and online-banking customers can use the service to transfer funds to beneficiaries in Singapore, India, Malaysia, the Philippines and Thailand, according to a bank statement. More than 50 banks in those countries participate in the service. Beneficiaries can withdraw funds received at an ATM or make purchases with a MasterCard-branded card linked to the funds-transfer account. Customers can transfer a maximum of S$1,000 (US$661.20 or 529.95 euros) daily and S$3,000 per month, the bank said. The service is free of charge on a promotional basis until the end of the year. The bank will inform customers of service charges at a later date, the bank said.
