They rob their own customers
This is not disclosed on their website, but if your company is not incorporated in Singapore, you may be charged much higher fees than what is disclosed on the website. For example, companies incorporated in Hong Kong will be charged 0.4% for both incoming and outgoing SWIFT transfers, instead of a flat fee. This is definitely a robbery. It looks like their website has all the information disclosed, but in fact, they do not follow the information disclosed, and their account managers can adjust your rates at will. If a financial institution breaks its own rules at will, it is not trustworthy, especially when your money is with it. Stay away from this payment institution (yes, it is not a bank), otherwise you will only cause trouble for yourself and your business.