Modern


FAQ

Bitspark is a Hong Kong-based company that provides a money transfer platform for licenced money transfer remittance businesses.
Many Monetary Transfer Operators (MTOs) currently use inefficient and expensive money transfer networks to send money overseas. They also use unreliable and poorly maintained software for the recording of customer details and transactions for compliance purposes.

We provide an easy to use web-based platform for sending and receiving remittance payments, conducting customer due diligence, storing historical data and detailed analytics to boost your businesses performance.
The Business platform is a cloud-based platform that enables money transfer businesses to send, manage and receive remittance payments, manage customer due diligence and receive detailed business analytics.

Our agents simply login to their account, fill in the required compliance details, top up their account balance and they can begin remittance payments for their customers. All payments are done via the account on our website so there is no software to install and it can work on any computer, tablet or device you wish to use.

Furthermore, our platform can be used in conjunction with your existing money transfer services, so you can test it out without needing to change your existing services.
Its free to set up! We just take a commission on each transaction and our commission is far less than the competitors. In most cases our agents make 2.5x more money every transaction. Our agents are free to set a flat fee commission or an FX spread on the exchange rate.
Currently, we provide the service to send direct to: Philippines, Indonesia and Vietnam. We can send to cash pickup stores, pawnshops, all banks and more. We are always expanding our network, with new countries and deposit/withdrawal methods being added frequently.

  • Bank Central Asia
  • Bank Artha Graha
  • Bank Windu Kentjana International
  • The Bank of Tokyo-Mitsubishi UFJ
  • Bank Bumi Arta
  • Bank Antardaerah
  • Bank Maspion
  • Bank Jasa Jakarta
  • HANABANK
  • Bank SBI Indonesia (Indomonex)
  • Bank Royal
  • Bank Sahabat Sampoerna
  • Bank BCA Syariah
  • Bank Victoria International
  • Bank Agris
  • ALTOPAY
  • Bank Chinatrust Indonesia
  • CNB
  • HARDA
  • MANDIRI
  • BRI
  • BNI
  • NIAGA
  • SGODPAY
  • PANIN
  • PERMATA
  • DANAMON
  • BII
  • Bank Tabungan Negara
  • NISP
  • JABARSYA
  • MEGA
  • BUKOPIN
  • HSBC
  • CITIBANK
  • BANK UOB
  • BTPN
  • BSM
  • STANCHRT
  • MUAMALAT
  • BANK DBS
  • BPD KALTIM
  • BANK JATIM
  • ANZ
  • DKI
  • JATENG
  • EKONOMI
  • BPDSUMUT
  • BANK RIAU
  • MAYAPADA
  • BSUMSEL
  • BMUTIARA
  • SINARMAS
  • BPDPAPUA
  • COMMBANK
  • B.NAGARI
  • BRIS
  • RABOBANK
  • Bank Of China
  • BPD ACEH
  • BPD BALI
  • KALSEL
  • BANK KALBAR
  • BNP
  • BSMI
  • PUNDI
  • BANK SAUDARA
  • SULSEL
  • MESTIKA
  • BANK NTT
  • SULUT
  • CAPITAL
  • BPD DIY
  • LAMPUNG
  • QNB K.
  • ATMALUKU
  • Bank BJB
  • B.INDEX
  • BANK NTB
  • ATM AGRO
  • BKALTENG
  • JAMBI
  • BKE
  • B.SULTRA
  • BENGKULU
  • SWADESI
  • B.MAYORA
  • GANESHA
  • BANK INA
  • BSULTENG
  • NOBUBANK
  • B.ARTOS
  • BPR KS
  • BANK BP
  • BWI
  • TCASH
  • Bank Multiarta Sentosa
  • Bank Syariah Bukopin
  • Bank Victoria Syariah
  • Allied Bank
  • Asia United Bank
  • BDO (Banco de Oro)
  • BDO Cash Card
  • BPI (Bank of the Philippine Islands)
  • BPI Family
  • Bank of Commerce
  • China Bank
  • China Bank Savings
  • Citibank N.A.
  • Citibank Savings
  • China Trust Bank Corporation
  • DBP
  • EastWest Bank
  • Equicom Savings Bank
  • HSBC
  • HSBC Savings
  • Land Bank of the Philippines
  • Maybank
  • Malayan Bank
  • Sterling Bank of Asia
  • Metrobank
  • Philippine Business Bank
  • PNB (Philippine National Bank)
  • PNB-Allied Savings Bank
  • PSBank
  • Philippine Veterans Bank
  • RCBC (Rizal Commercial Banking Corporation)
  • RCBC Savings
  • Security Bank
  • Security Bank Savings
  • Standard Chartered
  • Tong Yang Bank
  • Union Bank of the Philippines
  • UCPB (United Coconut Planters Bank)
  • UCPB Savings
  • Cebuana Lhuillier
  • M Lhuillier
  • Palawan Express
  • Bitspark
  • TNHH một thành viên ANZ
  • TNHH MTV Shinhan
  • TNHH một thành viên HSBC
  • Deutsche Bank
  • Citibank
  • Standard Chartered
  • Hong Leong
  • Ngân hàng Đầu tư và Phát triển Campuchia
  • Mizuho
  • Tokyo-Mitsubishi UFJ
  • Sumitomo Mitsui Bank
  • Public Bank Việt Nam
  • Commonwealth Bank
  • United Overseas Bank
  • Bank of China
  • Maybank
  • ICBC
  • Scotiabank
  • Commercial Siam bank
  • BNP Paribas
  • Bankok bank
  • Worldbank
  • Woori bank
  • RHB (Malaysia)
  • Intesa Sanpaolo (Italia)
  • JP Morgan Chase Bank
  • Wells Fargo
  • BHF - Bank Aktiengesellschaft
  • Unicredit Bank AG
  • Landesbank Baden-Wuerttemberg
  • Commerzbank AG
  • Bank Sinopac
  • Chinatrust Commercial Bank
  • Union Bank of Taiwan
  • Commercial Bank, Ltd
  • Cathay United Bank
  • Taishin International Bank
  • Land Bank of Taiwan
  • The Shanghai Commercial and Savings Bank, Ltd
  • Taiwan Shin Kong Commercial Bank
  • E.Sun Commercial Bank
  • Natixis Banque BFCE
  • Société Générale Bank - tại TP. HCM (Pháp)
  • Fortis Bank
  • RBI (Áo)
  • Phongsavanh
  • Acom Co., Ltd (Nhật)
  • Mitsubishi UFJ Lease & Finance Company Limited (Nhật)
  • Industrial Bank of Korea (Hàn Quốc)
  • Korea Exchange Bank (Hàn Quốc)
  • Kookmin Bank (Hàn Quốc)
  • Hana Bank (Hàn Quốc)
  • Bank of India (Ấn Độ)
  • Indian Oversea Bank (Ấn Độ)
  • Rothschild Limited (Singapore)
  • The Export-Import Bank of Korea
  • Busan - (Hàn Quốc)
  • Ogaki Kyoritu Bank (Japan)
  • Korea Development Bank (Korea)
  • Asian Development Bank (ADB)
  • Oversea-Chinese Banking Banking Corp. (OCBC)
  • Asia Commercial Bank, ACB
  • Tien Phong Bank, TP Bank
  • DongA Bank, DAF
  • SeABank
  • ABBank
  • BacABank, NASB
  • VIET CAPITAL BANK, VCCB
  • Maritime Bank, MSB
  • Techcombank
  • KienLongBank
  • Nam a Bank
  • National Citizen Bank
  • VPBank
  • HDBank
  • Orient Commercial Bank, OCB
  • Military Bank, MBB
  • PVcom Bank
  • VIBBank, VIB
  • Sài Gòn, SCB
  • Saigonbank, SGB
  • SHBank, SHB
  • Sacombank, STB
  • VietABank, VAB
  • VietBank
  • BaoVietBank, BVB
  • Petrolimex Group Bank, PG Bank
  • Eximbank, EIB
  • LienVietPostBank, LPB
  • Ngoại Thương Việt Nam,VCB
  • Vietinbank, CTG
  • BIDV, BID
  • Advans Microfinance Bank
  • Al Baraka Bank
  • Alfalah Bank Limited
  • Allied Bank Ltd
  • Apna Microfinance
  • Askari Bak Limited
  • Bank Alhabib
  • Bank Islami
  • Bank of Khyber
  • Bank of Punjub
  • Bank of Tokyo Mitsubishi
  • BURJ Bank LTD
  • CITI Bank Limited
  • Deutsche Bank
  • Dubai Islamic Bank
  • FAYSAL Bank Limited
  • FINCA Microfinance
  • First Microfinance Bank
  • First Women bank Ltd
  • Habib Bank Ltd
  • Habib Metro Bank
  • Indutrial Development Bank
  • JS Bank Limited
  • Kasb Bank Limited
  • Khushali Bank Limited
  • MCB Bank Ltd
  • Meezan Bank Ltd
  • National Bank of Pakistan
  • NIB Bank Limited
  • NRSP Microfinance Bank
  • Oman Interantional Bank
  • Samba Bank Ltd
  • Silk Bank
  • Sindh Bank
  • SME Bank
  • Soneri Bank Limited
  • Standard Charted Bank
  • State Bank of Pakistan
  • Summit Bank Limited
  • Tameer Microfinance Bank Ltd
  • U Microfinance Bank
  • United Bank Limited
  • Waseela Microfinance Bank
  • Zarai Taraqiati Bank
  • ACCESS BANK PLC
  • DIAMOND BANK PLC
  • ECOBANK NIGERIA PLC
  • FIDELITY BANK PLC
  • FIRST BANK OF NIGERIA PLC
  • FIRST CITY MONUMENT BANK
  • GUARANTY TRUST BANK PLC
  • JAIZ BANK
  • HERITAGE BANKING COMPANY LIMITED
  • KEYSTONE BANK LIMITED
  • SKYE BANK PLC
  • STANBIC-IBTC BANK PLC
  • STANDARD CHARTERED BANK NIGERIA LTD
  • STERLING BANK PLC
  • UNION BANK PLC
  • UNITED BANK FOR AFRICA PLC
  • UNITY BANK PLC
  • WEMA BANK PLC
  • ZENITH BANK PLC
  • Cellulant
As an agent, you are free to set your commission. Bitspark provides a highly competitive exchange rate for all our destination countries
Bitspark is a platform for licenced money remittance businesses. Therefore we need to comply with relevant AML (Anti Money Laundering) and KYC (Know Your Customer) laws and this means we will request certain personal and business information as necessary to establish your account with us.

We take customer privacy seriously, and invite you to look at our privacy policy  here.
Bitspark Limited is registered in Hong Kong and is part of the Cyberport Incubation program, a Hong Kong government backed program for innovative new technology companies. We have been operating since November 2014, and since then we have won numerous International awards (Sibos Finalist 2015, Accenture Fintech Innovation lab graduate 2015, UKTI 2015 Fintech award winners and many more) and been featured in many of the world's largest media outlets and industry publications (SCMP, New York Times, Goldman Sachs Fintech report 2014, KPMG Hong Kong Fintech report 2015 etc).

Bitspark adheres to the highest industry standards in IT security and privacy according to HK law. We also believe in transparency and accountability which is why we strongly encourage you to search for us within the Hong Kong Government’s business search portal here:  http://www.icris.cr.gov.hk/csci/
Our money transfer platform utilises cutting-edge financial technology called ‘Bitcoin’ (and other cryptocurrencies) to transfer payments between intermediaries without the need for the existing banking network and systems. This technology is cheaper than conventional transfer systems which allows us to provide competitive pricing to our agents.
Bitcoin is what is known as a digital currency. It is a secure peer-to-peer payment system that enables anyone, anywhere in the world to send money instantly for practically free. Bitcoin has a mathematically limited supply and is not governed by any company, organisation or government. Bitcoin is freely traded 24/7 around the world for local currencies and features openly auditable transaction data (the ‘Blockchain’). Transactions are secured by the world’s largest computing network in complete privacy with no identifying information required for making payments. Bitcoin was launched in 2009 by an anonymous researcher named Satoshi Nakamoto to create a trustless system of payments that has opened up a whole new world of opportunities for people all over the world.

However you do not need any knowledge about Bitcoin to use Bitspark as it’s all taken care of in the background, our agents just deal in familiar national currencies cash in, cash out. Easy.
All Bitspark users who deposit fiat currencies must verify their account with Bitspark by providing standard identity and transactional information. Bitspark adheres to industry standard Anti-Money Laundering and Know Your Customer procedures, as defined in accordance with Hong Kong law. For a full list of these procedures, please visit the Government website at:  https://eservices.customs.gov.hk/MSOS/common/guidelines

Bitspark has an internal and external AML/KYC policy framework including: User background checks, transaction monitoring and reporting, risk assessment criteria and more.
In compliance with international Anti-Money Laundering and Know Your Customer procedures, Bitspark will need to verify the identity of users of our service. This means that we will require certain information like: full name, business incorporation details, ID card, registered address, money transmitter licence etc.

This information is easily accessible via the Bitspark Profile page where you can update your information as necessary and submit for approval by Bitspark.
We currently support HKD, VND, IDR, PHP and Bitcoin. Your account verification level will determine the ability to deposit or withdraw in these currencies to local bank accounts.