Cross-Border Funds Transfers

Telegraphic Transfers

Make international transfers in a wide range of currencies quickly

Make international fund transfers quickly and conveniently with DBS outward Telegraphic Transfers. Through this service, you can transfer money in a wide range of currencies all over the world. Your beneficiaries receive funds between one to four days, depending on the currency, destination and the agent and beneficiary banks. If you are transferring money within the DBS regional network, our DBS PriorityPay ensures that funds can be credited within 10 minutes and at a preferential pricing too.

 

Why choose DBS Telegraphic Transfers?

  • Ensure your beneficiaries receive funds quickly with our advanced and intelligent system that optimises payment routing to speed up the process
  • Enjoy DBS PriorityPay which is a faster and cheaper alternative for international fund transfer from Singapore to within the DBS network. We also provide a credit confirmation when the funds are paid to your beneficiary’s account from Singapore to Hong Kong
  • Send money in more than 40 different currencies all over the world through our extensive network of correspondent banks and overseas branches
  • Benefit from our competitive exchange rates
  • Stay informed via IDEAL™ eReports. These email alerts notify you and/or your beneficiary when your payment has been processed

FAQs

What information is required to send an OTT?

To ensure that your application is processed efficiently, please provide the following information:

  • Your name, address and debit account number
  • Payment currency and amount
  • Beneficiary name
  • Beneficiary's account number or IBAN for payments to Europe and the UAE
  • Beneficiary bank’s SWIFT code (BIC code)
  • Beneficiary bank's name and address
  • Details of the intermediary bank, if available
How fast will DBS send the payment to the beneficiary?

Payment instructions received before the cut-off time will be processed on the same day and sent to the beneficiary bank. Please note the beneficiary bank will need to process the payment received and times may vary.

If the payment from Singapore to Hong Kong is within the DBS network (from a DBS account in Singapore to a DBS account in Hong Kong), the payment can be credited within just 10 mins.

When will my beneficiary receive payment?

Generally, the beneficiary should receive the funds within one to four days. However, this may vary depending on the country or bank to which you are sending money.

Can DBS check whether the beneficiary has received the funds?

Yes, we can send an enquiry to the overseas bank to check whether the payment has been made. However, there is a service charge for this.

If you are using DBS PriorityPay, where funds are transferred from a DBS account in Singapore to a DBS account in Hong Kong, we will provide a credit confirmation when your beneficiary has received the funds.

I need the beneficiary to receive the full amount. How do we ensure this happens?

Simply select “We pay all bank/agent charges: Ourselves” during application in order to ensure all processing fees are charged to your account. However, in some cases a payment may still not be credited in full as the beneficiary bank may levy a charge for the receipt of funds.

 

How do I apply?

Submit your application through IDEAL™, our online banking platform, for faster processing and an extended cut-off time. Alternatively, you may submit your applications via fax (if you enjoy fax indemnity arrangement) or at any of our branches.

 

Not a DBS SME Banking customer? Enjoy IDEALTM set-up and monthly fee waivers* by starting your DBS Business Account application online. This service is available to Sole Proprietorships, Partnerships, Limited Liability Partnerships and Private/Limited Companies.
*Terms & Conditions apply

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"If there are any issues, we just have to pick up the phone and there is always a support person who can help us."
Mr Jonathon Juay
Mr Jonathon JuayDirector

Transition Systems Pte Ltd

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