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When you place a withdrawal request for USD, the funds will first be sent from our US bank account to the correspondent bank of your bank in the US and they will then send the funds to your bank in Singapore.\u003C\u002Fp>\u003Cp>Generally speaking, the reasons domestic banks employ correspondent banks include the limited access to foreign financial markets and the inability to service client accounts without opening branches abroad.\u003C\u002Fp>\u003Cp>Correspondent banking is an essential component of the global payment system, especially for cross-border transactions. 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