FREQUENTLY ASKED QUESTIONS


General
What or who is Thin Margin?

Thin Margin is Singapore’s first and largest online money-changer, bringing foreign currencies to your doorstep at very competitive rates! We also won the Singapore FinTech Award in 2018, awarded by The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS).

Err….what does Thin Margin even mean?

The difference between the sell rate and the buy rate of a currency is known as the spread, or the margin. We operate efficiently on very, very, thin margins to bring you the best rates and convenience!

How can Thin Margin help me?

Be it convenience or maximising your currency exchange, there seems to be always a trade-off.

If you value maximising the exchange (especially if you’re exchanging large amounts), you might find it worthwhile to make the journey to more competitive money-changers in the CBD (typically the Arcade at Raffles Place, Chinatown, or Mustafa).

If you value convenience, and want to save precious time simutaneously, you'd most likely patronise the money-changers at Changi Airport, or those near your workplace or home. This unfortunately sets you up for less favourable exchange rates.

This is where Thin Margin excels. Our exchange rates are almost always better than those at convenient locations (neighhourhood or airports), and to top it off, we provide even more convenience (we deliver right to your doorstep). So here’s our commitment instead; we’ll always strive to provide you with the best value. Forget about making the tiresome journey to the ATM or faraway money-changer. Forget about queueing. Convenience doesn’t have to come at a price. 

What currencies do you sell and deliver?

We're always working to add more currencies. Click here for the full list of currencies we currently sell and deliver. 

Why do you have transaction hours?

Thin Margin currently only accepts orders during the following hours:
Mon - Sun:      10:30 a.m. to 11:30 p.m.
 

You may have noticed that these hours overlap with business banking hours, like a stock exchange! This is because it is much cheaper to transact during business banking hours when liquidity is at the highest. At Thin Margin, we always strive to bring you the best value. Thus, we highly recommend you to order your foreign currencies during business banking hours to save money! As a consumer, there is little benefit in ordering foreign currencies outside of business banking hours, since foreign currencies are not consumable in Singapore anyway!

However, we deliver beyond these transaction hours. Our delivery hours are listed here.

How can I contact Thin Margin?

You may reach us by email at hello@thinmargin.com, or by phone or whatsapp at +65 9834 7128. 

Safety
Delivering money sounds a little risky. Is it safe?

Of course! The first thing we’d like you to know is that customers do not bear any risk of delivery. Thin Margin will be fully responsible for getting the currencies to your doorstep. As a customer, this is even safer for you because you do not have to visit the ATM, carry large amounts of SGD to the money-changer, then carry large amounts of foreign currencies back home. 

I’m a little worried about paying in advance. Is my money safe with you?

Absolutely! We ensure that your funds are segregated from our business funds, and will only be used to complete your order. It is no different than paying in advance for goods in the e-commerce space. We are also regulated by the Monetary Authority of Singapore (MAS) as a money-changing business, and you may verify this here.

Wait...are you regulated?

Yes, we are! We are regulated in Singapore by the Monetary Authority of Singapore (MAS) as a money-changing business. Thin Margin also graduated from the MAS Fintech Regulatory Sandbox to operate Singapore's first online money-changer.  

Why do you require my identification details?

We take the security of your money very seriously. That’s why we identify and verify all customers to ensure that all orders are legitimate. No fishy business here! More importantly, verifying customers allows us to ensure that the money is received by the correct recipient (you).

This is also in line with the Singapore government’s requirement to place robust controls to deter and defect the flow of illicit funds. Don’t worry, we go through great lengths to keep this information safe, and we will never share it with external parties. We are compliant with Singapore's Personal Data Protection Act (PDPA). 

Is your website secure?

We use industry standard Secure Sockets Layer (SSL) 256 bit technology to encrypt all data transmissions, the same standard of encryption banks use in general.This means that any information passed between your computer and our website cannot be read by a third party. Besides, we do not store any credit card information at all. Look for the green bar on your browser's address bar; it is an indicator to prove that Thin Margin has been legally verified by a certificate authority.

Orders
How do I make payment?

We accept payments via PayNow / Bank Transfer or NETSPay for currency orders. Please refer to the guide at the "Payment" page, or click here for our bank account details and a detailed guide. We accept credit card payments for non-currency orders.

If you're making your first transaction, please note that you may need your ibanking token/device to add Thin Margin as a payee.

 

Thin Margin's Bank: DBS 
Thin Margin's Bank Account: 0299029312
Your Initials / Comments: Your mobile number

What is the minimum and maximum amount of currencies I can order?

The minimum order is currently S$600 for a limited time and there is no maximum order. These may change in the future so check back for updates!

Please contact us at hello@thinmargin.com or +65 9834 7128 if you wish to order more than S$20,000.

How long are the exchange rates valid for?

The exchange rates on the website are live, and may move anytime. The rates will be locked in for you for 20 minutes to make payment. 

What if the exchange rate changes after I’ve made payment?

The foreign exchange rate is determined at the time of your transaction. Thus, any movements in exchange rates after your transaction has no impact. This is similar to any other money-changing or e-commerce transaction; the price is final at the point of purchase. 

Can I sell you my foreign currencies?

We do not purchase foreign currencies at the moment but check back for updates!

Can I choose the denominations to receive?

Unfortunately, we’re unable to offer that option at the moment as choosing the denominations increases logistics cost significantly. However, we’ll do our best to give you a reasonable range of denominations.

I am transacting a large amount of money. Will I get a better deal?

Definitely! We offer tiered rates, depending on the amount transacted. The more you purchase, the more you save! Tiered rates are displayed at the currency selection page.

May I request for a refund?

As with all money-changers and many sales channels, once an order has been submitted, we will be unable to accommodate any requests for a refund. Please ensure that you order the correct amount!

Delivery
Do you deliver to my neighbourhood?

We deliver to almost the entire mainland Singapore. To be sure, please enter your postal code when you're adding your address. 

What are your delivery hours?

Our delivery hours are from 9 a.m. to 11 p.m, 7 days a week, including public holidays. You may choose your preferred delivery timeslot during the purchase of foreign currencies at the "Delivery" page.

Our delivery timeslots are generally 2 hours so you don't have to worry about waiting all day for your delivery!

How soon can you deliver the currencies?

Generally, you can receive your currencies within 2 days at the soonest. However, this depends on the availability of the delivery timeslots. To be sure, please check the available timeslots at "Delivery" page.

What documents do I need to present to your delivery staff?

Please remember to present your original chosen identification (NRIC / Immigration Pass / Student Pass / Long Term Visit Pass) and the transaction number to our delivery staff. Please also ensure that the envelope you receive is still sealed and bears no evidence of tampering.

Are there any delivery charges?

We offer free delivery if you purchase at least SGD 2,000 of foreign currencies in a single transaction, or if you order at least 1 SIM card or travel insurance. Free delivery is quite easy to qualify if you get foreign currencies for your travel companions too. For example, if you're travelling with three other friends and each of you need SGD 500 of foreign currencies, you'll qualify for free delivery! Otherwise, there is a tiny delivery charge of just S$3.

May I ask someone else to receive my delivery?

Yes, of course! Please ensure that the authorised party has both yours and their original identification documents to receive the delivery.

However, if your transaction is S$5,000 and above and you have not received the delivery in person before, you are required to receive your currencies personally in order to complete the verification process.

May I reschedule the delivery?

We understand that your plans may change and we'll do our very best to accomodate any changes.

Delivery timeslot is more than 48 hours away

If your delivery timeslot is at least 48 hours away, you may change your delivery details at your account page, under “My Transactions”.  Please click on the dropdown, then click on "Change delivery details". You may change your delivery timeslot once for free.

Please understand that changing the delivery timeslot affects our resources and impacts our costs. We run on extremely thin margins to bring you the best value, so a redelivery fee of S$10 may apply (only if necessary) if you request for a second reschedule. 

Delivery timeslot is less than 48 hours away

Please contact us at delivery@thinmargin.com or call / Whatsapp us at +65 9834 7128 to change your delivery timeslot. Please note that a redelivery fee of S$10 may apply (only if necessary) if your delivery timeslot is less than 48 hours away. 

What if I’m not home to receive the delivery?

We understand that plans may change, and we will try our best to reschedule for another delivery. Please contact us at delivery@thinmargin.com or call / Whatsapp us at +65 9834 7128 as soon as possible. 

If you are not present to receive the currencies during your delivery time slot, it affects other customers and impacts ours costs. We run on extremely thin margins to bring you the best value, so please note that a redelivery fee of S$10 may apply (only if necessary). Not to worry, our delivery staff will wait for a maximum of 5 minutes.

If needed, please reschedule your delivery at least 48 hours in advance.

What if my delivery is late?

Unforeseen circumstances as such adverse weather or traffic conditions may cause delays at times. If this happens, we’ll keep you informed and deliver your currencies as soon as we can. If you have not been informed and your delivery is still late, please contact us with your order number at delivery@thinmargin.com or by phone or whatsapp at +65 9834 7128.

Account
How do I use the promo codes?

Please apply any promo codes you may have at the "Delivery" page.

Can I update my email address and/or mobile number?

Yes, you may update them at your account settings page. Please note that you will have to verify your updated email address and/or mobile number again.

I no longer use the email address associated with my Thin Margin account. What should I do?

If you no longer use the email address associated with your Thin Margin account, you may contact Thin Margin Support at support@thinmargin.com or +65 9834 7128 for help restoring access to your account.

May I create multiple accounts?

No, please do not create more than 1 Thin Margin account as everything will be tied to your identification details. 

Travel Insurance
What is Journey Assist?

Journey Assist is a travel insurance product underwritten by Chubb Insurance Singapore Limited. This product is designed for Thin Margin’s customers.

Who can purchase Journey Assist?

Any Singapore resident (including foreigners) aged 18 years and above on the date of commencement of the journey. 

Singapore Resident means a Singapore citizen, Singapore Permanent Resident, or foreigner holding a valid Work Permit, Employment Pass, Dependant's Pass, Long-Term Visit Pass or Student Pass upon commencement of the journey.

How long before the travel date can I purchase Journey Assist?

You can purchase Journey Assist up to 180 days before your date of travel.

Does Journey Assist cover more than 1 country during the trip?

The policy will cover all countries listed in your selected Region. For example, if you select the region ASEAN, the policy will cover Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Thailand and Vietnam.

Please select the Region covering the farthest country you will travel to. 

Am I still covered after rescheduling my flight?

Yes, subject to Terms and Conditions. Please contact Chubb via phone at +65 6398 8776, or via email at travel.sg@chubb.com to update your policy.

What is the minimum and maximum duration of the coverage?

The minimum duration is 2 days, and the maximum duration is 45 days.

Is there automatic Policy Extension?

Yes, the Period of Insurance shall automatically be extended without premium if the Insured Person is unble to complete the return leg of a Journey within the Period of Insurance due to:

  • the Insured Person's Critical Medical Condition (extended for up to 7 days); or
  • the scheduled Public Conveyance in which the Insured Person is traveling being unavoidably delayed due to Strike or industrial actions, adverse weather conditions or mechanical breakdown/ derangement of the Public Conveyance or due to grounding of an aircraft as a result of mechanical or structural defect (extended for up to 7 days); or
  • the Insured Person being Confined in a Hospital outside of Singapore at the expiry of the Period of Insurance (extended for up to 30 days).
Is Journey Assist refundable?

Yes, the policy is cancellable and refundable, subject to Terms and Conditions. Please contact Chubb via phone at +65 6398 8776, or via email at travel.sg@chubb.com.

How do I amend my travel details?

Please contact Chubb's Customer Service Hotline at +65 6398 8776, (Mondays to Fridays, 9.00am to 5.00pm, excluding public holidays) or via email at travel.sg@chubb.com.

What is the time limit for submitting a claim?

Claims must be submitted within 30 days of the date of incident.

How do I make a claim?

Please submit your claims online via the Chubb Claim Centre. A claim number will be provided immediately, shortly followed by an email and SMS. Notification of the claim will be assigned to a claims assessor within hours, ensuring faster claim settlement.

Alternatively, you may also submit your claim via Email or Posted Mail. Click here to download the claim form, then submit your claim form and supporting documents to:

  • Email at travelclaims.sg@chubb.com
  • Posted Mail at
    Attention to:
    A&H and Travel Claims Department
    Chubb Insurance Singapore Limited
    138 Market Street
    #11-01 CapitaGreen
    Singapore 048946
Does Journey Assist cover any pre-existing conditions?

Journey Assist does not cover any pre-existing conditions that the Insured Person should reasonably be aware of, within a twelve (12) month period preceding the commencement of a Journey.