Toast Me Pte Ltd (a subsidiary of Sigma X Pte Ltd) and Sigma X Pte Ltd, both incorporated in the Republic of Singapore, operate a remittance service from Singapore to the Philippines.
Sigma X Pte Limited is incorporated in Hong Kong and operates a remittance service from Hong Kong to the Philippines.
Your Toast account is not a bank account and does not accept ‘deposits’, as defined in section 4B(4) of the Banking Act (Cap. 19). Therefore, you are not entitled to deposit insurance under the Deposit Insurance and Policy Owners’ Protection Schemes Act (Cap. 77B).