Country Specific Information for DBS Remit

Important information you need to take note of when making an overseas fund transfer to Canada, Eurozone, India, Indonesia, Malaysia, Mainland China, Myanmar, Philippines, South Korea, Taiwan, Thailand, United Kingdom & Vietnam.

Part of: Guides > Your Guide to Overseas Funds Transfer

  • Most banks in Canada have 7-digits bank account number.
  • Do ensure the bank account number provided excludes the 4-digit branch code in your Recipient’s Bank Account Number to avoid any unsuccessful transfers or delays.
  • Please provide the full address of your recipient as it is a mandatory regulatory requirement by the Canadian authorities from 1 June 2021. Make sure the address contains full details, including the street address, city/state/province and postal/ZIP code.
    (E.g. 3169 No. 3 Road, Richmond, British Columbia V6X 2B8)
  • Require valid IBAN for Bank Account Transfer to Eurozone supported locations.
  • Refer to the table below for the IBAN structure of the different Eurozone locations:
    (You may use the search function to look for the locations)
     
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    IBAN Structure
    Austria
    • An IBAN in Austria consist of 20 alpha-numeric characters.
    • Sample IBAN: AT611904300234573201
    • The structure of IBAN is as follows:
      AT = 2 characters ISO country code
      61 = 2 digits checksum number
      19043 = 5 digits bank code
      00234573201 = 11 digits account number
    Belgium
    • An IBAN in Belgium consist of 16 alpha-numeric characters.
    • Sample IBAN: BE68539007547034
    • The structure of IBAN is as follows:
      BE = 2 characters ISO country code
      68 = 2 digits checksum number
      539 = 3 digits bank code
      0075470 = 7 digits account number
      34 = 2 digits check digit
    Bulgaria
    • An IBAN in Bulgaria consist of 22 alpha-numeric characters.
    • Sample IBAN: BG80BNBG96611020345678
    • The structure of IBAN is as follows:
      BG = 2 characters ISO country code
      80 = 2 digits checksum number
      BNBG = 4 characters from Bank SWIFT BIC
      9661 = 4 digits branch code
      10 = 2 digits account type
      20345678 = 8 characters account number
    Croatia
    • An IBAN in Croatia consist of 21 alpha-numeric characters.
    • Sample IBAN: HR1210010051863000160
    • The structure of IBAN is as follows:
      HR = 2 characters ISO country code
      12 = 2 digits checksum number
      1001005 = 7 digits bank code
      1863000160 = 10 digits account number
    Cyprus
    • An IBAN in Cyprus consist of 28 alpha-numeric characters.
    • Sample IBAN: CY17002001280000001200527600
    • The structure of IBAN is as follows:
      CY = 2 characters ISO country code
      17 = 2 digits checksum number
      002 = 3 digits bank code
      00128 = 5 digits branch code
      0000001200527600 = 16 characters account number
    Czech Republic
    • An IBAN in Czech Republic consist of 24 alpha-numeric characters.
    • Sample IBAN: CZ6508000000192000145399
    • The structure of IBAN is as follows:
      CZ = 2 characters ISO country code
      65 = 2 digits checksum number
      0800 = 4 digits bank code
      0000192000145399 = 16 digits account number
    Denmark
    • IBAN of Denmark consist of 18 alpha-numeric characters.
    • Sample IBAN: DK5000400440116243
    • The structure of IBAN is as follows:
      DK = 2 characters ISO country code
      50 = 2 digits checksum number
      0040 = 4 digits bank code
      0440116240 = 10 digits account number
    Estonia
    • An IBAN in Estonia consist of 20 alpha-numeric characters.
    • Sample IBAN: EE382200221020145685
    • The structure of IBAN is as follows:
      EE = 2 characters ISO country code
      38 = 2 digits checksum number
      22 = 2 digits bank code
      00 = 2 digits branch code
      22102014568 = 11 digits account number
      5 = 1 digit check digit
    Finland
    • An IBAN in Finland consist of 18 alpha-numeric characters.
    • Sample IBAN: FI2112345600000785
    • The structure of IBAN is as follows:
      FI = 2 characters ISO country code
      21 = 2 digits checksum number
      123 = 3 digits bank code
      45600000785 = 11 digits account number
    France
    • An IBAN in France consist of 27 alpha-numeric characters.
    • Sample IBAN: FR1420041010050500013M02606
    • The structure of IBAN is as follows:
      FR = 2 characters ISO country code
      14 = 2 digits checksum number
      20041 = 5 digits bank code
      1005 = 5 digits branch code
      0500013M026 = 11 characters account number
      06 = 2 digits check digit
    Germany
    • An IBAN in Germany consist of 22 alpha-numeric characters.
    • Sample IBAN: DE89370400440532013000
    • The structure of IBAN is as follows:
      DE = 2 characters ISO country code
      89 = 2 digits checksum number
      37040044 = 8 digits bank code
      0532013000 = 10 digits account number
    Greece
    • An IBAN in Greece consist of 27 alpha-numeric characters.
    • Sample IBAN: GR1601101250000000012300695
    • The structure of IBAN is as follows:
      GR = 2 characters ISO country code
      16 = 2 digits checksum number
      011 = 3 digits bank code
      0125 = 4 digits branch code
      0000000012300695 = 16 characters account number
    Hungary
    • An IBAN in Hungary consist of 28 alpha-numeric characters.
    • Sample IBAN: HU42117730161111101800000000
    • The structure of IBAN is as follows:
      HU = 2 characters ISO country code
      42 = 2 digits checksum number
      117 = 3 digits bank code
      7301 = 4 digits branch code
      6111110180000000 = 16 digits account number
    Iceland
    • An IBAN in Greece consist of 27 alpha-numeric characters.
    • Sample IBAN: GR1601101250000000012300695
    • The structure of IBAN is as follows:
      GR = 2 characters ISO country code
      16 = 2 digits checksum number
      011 = 3 digits bank code
      0125 = 4 digits branch code
      0000000012300695 = 16 characters account number
    Ireland
    • An IBAN in Ireland consist of 22 alpha-numeric characters.
    • Sample IBAN: IE29AIBK93115212345678
    • The structure of IBAN is as follows:
      IE = 2 characters ISO country code
      29 = 2 digits checksum number
      AIBK = 4 characters from Bank SWIFT BIC
      931152 = 6 digits branch code
      12345678 = 8 digits account number
    Italy
    • An IBAN in Italy consist of 27 alpha-numeric characters.
    • Sample IBAN: IT60X0542811101000000123456
    • The structure of IBAN is as follows:
      IT = 2 characters ISO country code
      60 = 2 digits checksum number
      X = 1 letter national check digit
      05428 = 5 digits bank code
      11101 = 5 digits branch code
      000000123456 = 12 digits account number
    Latvia
    • An IBAN in Latvia consist of 21 alpha-numeric characters.
    • Sample IBAN: LV80BANK0000435195001
    • The structure of IBAN is as follows:
      LV = 2 characters ISO country code
      80 = 2 digits checksum number
      BANK = 4 characters from Bank SWIFT BIC
      0000435195001 = 13 characters account number
    Liechtenstein
    • An IBAN in Liechtenstein consist of 21 alpha-numeric characters.
    • Sample IBAN: LI21088100002324013AA
    • The structure of IBAN is as follows:
      LI = 2 characters ISO country code
      21 = 2 digits checksum number
      08810 = 5 digits bank code
      0002324013AA = 12 characters account number
    Lithuania
    • An IBAN in Lithuania consist of 20 alpha-numeric characters.
    • Sample IBAN: LT121000011101001000
    • The structure of IBAN is as follows:
      LT = 2 characters ISO country code
      12 = 2 digits checksum number
      10000 = 5 digits bank code
      11101001000 = 11 digits account number
    Luxembourg
    • An IBAN in Luxembourg consist of 20 alpha-numeric characters.
    • Sample IBAN: LU280019400644750000
    • The structure of IBAN is as follows:
      LU = 2 characters ISO country code
      28 = 2 digits checksum number
      001 = 3 digits bank code
      9400644750000 = 13 characters account number
    Malta
    • An IBAN in Malta consist of 31 alpha-numeric characters.
    • Sample IBAN: MT84MALT011000012345MTLCAST001S
    • The structure of IBAN is as follows:
      MT = 2 characters ISO country code
      84 = 2 digits checksum number
      MALT = 4 characters from Bank SWIFT BIC
      01100 = 5 digits branch code
      0012345MTLCAST001S = 18 characters account number
    Monaco
    • An IBAN in Monaco consist of 27 alpha-numeric characters.
    • Sample IBAN: MC5811222000010123456789030
    • The structure of IBAN is as follows:
      MC = 2 characters ISO country code
      58 = 2 digits checksum number
      11222 = 5 digits bank code
      00001 = 5 digits branch code
      01234567890 = 11 characters account number
      30 = 2 digits check digit
    Netherlands
    • An IBAN in Netherlands consist of 18 alpha-numeric characters.
    • Sample IBAN: NL91ABNA0417164300
    • The structure of IBAN is as follows:
      NL = 2 characters ISO country code
      91 = 2 digits checksum number
      ABNA = 4 characters from Bank SWIFT BIC
      0417164300 = 10 digits account number
    Norway
    • An IBAN in Norway consist of 15 alpha-numeric characters.
    • Sample IBAN: NO9386011117947
    • The structure of IBAN is as follows:
      NO = 2 characters ISO country code
      93 = 2 digits checksum number
      8601 = 4 digits bank code
      111794 = 6 digits account number
      7 = 1 digit check digit
    Poland
    • An IBAN in Poland consist of 28 alpha-numeric characters.
    • Sample IBAN: PL61109010140000071219812874
    • The structure of IBAN is as follows:
      PL = 2 characters ISO country code
      61 = 2 digits checksum number
      10901014 = 8 digits bank code
      0000071219812874 = 16 digits account number
    Portugal
    • An IBAN in Portugal consist of 25 alpha-numeric characters.
    • Sample IBAN: PT50000201231234567890154
    • The structure of IBAN is as follows:
      PT = 2 characters ISO country code
      50 = 2 digits checksum number
      0002 = 4 digits bank code
      0123 = 4 digits branch code
      12345678901 = 11 digits account number
      54 = 2 digits check digit
    Romania
    • An IBAN in Romania consist of 24 alpha-numeric characters.
    • Sample IBAN: RO49AAAA1B31007593840000
    • The structure of IBAN is as follows:
      RO = 2 characters ISO country code
      49 = 2 digits checksum number
      AAAA = 4 characters from Bank SWIFT BIC
      1B31007593840000 = 16 characters account number
    San Marino
    • An IBAN in San Marino consist of 27 alpha-numeric characters.
    • Sample IBAN: SM86U0322509800000000270100
    • The structure of IBAN is as follows:
      SM = 2 characters ISO country code
      86 = 2 digits checksum number
      U = 1 letter national check digit
      03225 = 5 digits bank code
      09800 = 5 digits branch code
      000000270100 = 12 characters account number
    Slovakia
    • An IBAN in Slovakia consist of 24 alpha-numeric characters.
    • Sample IBAN: SK3112000000198742637541
    • The structure of IBAN is as follows:
      SK = 2 characters ISO country code
      31 = 2 digits checksum number
      1200 = 4 digits bank code
      0000198742637541 = 16 digits account number
    Slovenia
    • An IBAN in Slovenia consist of 19 alpha-numeric characters.
    • Sample IBAN: SI56263300012039086
    • The structure of IBAN is as follows:
      SI = 2 characters ISO country code
      56 = 2 digits checksum number
      26330 = 5 digits bank code
      0012039086 = 10 digits account number
    Spain
    • An IBAN in Spain consist of 24 alpha-numeric characters.
    • Sample IBAN: ES9121000418450200051332
    • The structure of IBAN is as follows:
      ES = 2 characters ISO country code
      91 = 2 digits checksum number
      2100 = 4 digits bank code
      0418 = 4 digits branch code
      45 = 2 digits check digit
      0200051332 = 10 digits account number
    Sweden
    • An IBAN in Sweden consist of 24 alpha-numeric characters.
    • Sample IBAN: SE4550000000058398257466
    • The structure of IBAN is as follows:
      SE = 2 characters ISO country code
      45 = 2 digits checksum number
      500 = 3 digits bank code
      00000058398257466 = 17 digits account number
    Switzerland
    • An IBAN in Switzerland consist of 21 alpha-numeric characters.
    • Sample IBAN: CH9300762011623852957
    • The structure of IBAN is as follows:
      CH = 2 characters ISO country code
      93 = 2 digits checksum number
      00762 = 5 digits bank code
      011623852957 = 12 characters account number
Indian Banks Merger News
  • Effective 01 October 2021, overseas transfers to these Indian banks will no longer be available.
    • Andhra Bank
    • Corporation Bank
  • Effective 28 February 2022, overseas transfers to Lakshmi Vilas Bank (now part of DBS Bank India) will need to be updated.
  • Customers with recipients in these 3 Indian banks are encouraged to perform the following to avoid any erroneous transfers or losses due to foreign exchanges:
    • DO NOT remit funds to recipients with accounts in these 3 Indian banks.
    • Delete the affected recipients from your list.
    • Request from your recipients their alternative bank account details or new IFSC code for LVB recipients (Alternatively you can check their new IFSC here)
    • Add the recipients to your recipient list with their updated bank account details.
  • Existing Standing Instructions to recipients in these 3 Indian banks will no longer be processed as the bank details are invalid. Please Add New Recipient or Set up Recurring Standing Instruction via digibank.

Purpose of Payments
  • All remittances in INR has to indicate clearly the purpose of payments to your recipient in India. Make sure the purpose indicated is accurate as no changes are allowed for the payment upon submission.
  • DBS Singapore only allows INR payments for the below list of purposes. Capital related investments purposes are not allowed and may be subjected to return with potential FX loss.
  • Purpose of payments list for DBS Remit to India

    Purpose of Payments

    • Family Expense / Savings
    • Personal Gifts & Donations
    • Donations – Charity / Gov org
    • Travel – Business
    • Travel – Education
    • Travel – Medical
    • Travel – Holiday
    • Pension Funds – Premium
    • Loan Repayment
    • Education Fees
    • Pay / Salary
    • Medical Fees
    • Life Insurance – Non Term
    • General Insurance
  • Effective 01 Nov 2021, overseas transfers to these Indonesian banks will no longer be available. These banks are merged with PT. Bank Syariah Indonesia TBK (formerly known as PT. Bank Syariah Mandiri TBK)
    • PT. Bank BNI Syariah
    • PT. Bank Syariah BRI
  • Customers with recipients in these 2 Indonesian banks are encouraged to perform the following to avoid any erroneous transfers or losses due to foreign exchanges:
    • DO NOT remit funds to recipients with accounts in these 2 Indonesian banks.
    • Delete the affected recipients from your list
    • Request from your recipients their alternative bank account details
    • Add the recipients to your recipient list with their updated bank account details (available from 6 Nov onwards)
  • Existing Standing Instructions to recipients in these 2 Indonesian banks will no longer be processed as the bank details are invalid. Please Add New Recipient or Set up Recurring Standing Instruction via digibank (available from 6 Nov onwards).
  • Effective 27 Jan 2021, DBS Remit transactions to Malaysia (in MYR) S$500 equivalent and below, will incur a fee of S$3.00*.
    • This applies to one-time transactions as well as Standing Instructions.
    • Click here to find out how you can check and amend your existing Standing Instructions.
    *This charge will be reflected in your account statement as a separate charge, with the transaction code OTT C or OTT CHG.
  • Please ensure you are using the correct SWIFT code of the Islamic bank branch in Malaysia. Malaysia banks with a separate Islamic branch entity may have a different SWIFT code.
  • Accuracy of your Malaysia recipients’ details is essential to avoid any transfer delays or rejection. Please ensure they meet the below requirements:
    • Ensure that your Recipient’s Full Name is as per their Malaysia bank’s records
    • Do not put in random text or nicknames in the Recipient Name (e.g. Mom or lim)
    • Delete recipients that are no longer required or have outdated details
  • New purpose of payments list for DBS Remit to Malaysia

    Purpose of Payments

    • Gifts to individuals*
    • Education services
    • Goods and services purchased by travellers
    • Grants, aid and donations
    • Health services
    • Other personal services
    • Postal and courier services
    • Premium paid on life insurance
    • Premiums paid on other general insurance
    • Purchase of real estate abroad (commercial)
    • Purchase of real estate abroad (residential)
    • Purchase of real estate in Malaysia (commercial)
    • Purchase of real estate in Malaysia (residential)
    • Repayment of principal to/by Non-resident on long-term loan
    • Repayment of principal to/by Non-resident on short-term loan
    • Salary used for family support and savings
    • Taxes on income, wealth and other taxable assets
    • Telecommunications services
    • Travel for pilgrimage and religious observances
    *For all overseas funds transfer to Malaysia of MYR 10,000 or more, it will be subjected to Malaysia regulatory restrictions to non-family members. You can only make such high value transfers to direct family members. Direct family member refers to the sender’s “Parents”, “Spouse”, “Children” and “Siblings” only. Please ensure that you only remit to these defined family members to facilitate a successful transfer.
  • Payment transfers via DBS Remit to Mainland China in CNY currency will be unavailable from 29 Dec 3:00pm to 31 Dec 2:59pm due to China's regulatory requirements. CNY transfers submitted from 31 Dec 3:00pm onward will only be processed on 4 Jan due to year-end holiday restrictions.
  • For overseas funds transfers to a Chinese citizen in Mainland China, please ensure that you have the following details of your intended recipient before you begin funds transfer online, via Bank Accounts.
    • Bank Name
    • Account Number
    • Recipient’s Full Name in English
    • Recipient’s Full Name in Chinese
    • Recipient’s National ID No.
    • Recipient’s Address
    • Recipient’s Mobile Number
  • Please ensure the recipient details are as per the recipient’s bank records, to facilitate a successful transfer. Currently, DBS Remit to Mainland China is offered only to the Bank’s retail customers.
  • All overseas funds transfer to Mainland China in CNY is subjected to the regulations of The State Administration of Foreign Exchange of the People's Republic of China. Each Mainland China recipient can receive funds up to a maximum of USD 50,000 equivalent per annum.
  • Please click here for a step-by-step guide to help you get started with DBS Remit to Mainland China.
  • Due to the current domestic situation in Myanmar, you may experience unforeseen delays for fund transfers to, and refunds for failed transactions to Myanmar.
    • Overseas funds transfers to Myanmar is now available to AYA Bank and all other Myanmar Banks.
    • Please DO NOT submit remittances to business or corporate accounts. This service is only available for individual recipients.
  • Now you can transfer to a GCash Wallet user via DBS Remit. You only need to prepare these details for the transfer.
    • Recipient’s GCash Wallet ID (e.g. A Philippines mobile number starting with +63)
    • Recipient’s full name
    • Recipient’s Address
  • All DBS Remit customers can remit to Philippines and enjoy cash pick up service at BDO Unibank and SM. Please note revised cash pick up schedule due to the on-going COVID-19 Quarantine situation in Metro Manila.
  • Please note that we have been informed by BDO Unibank that with effect from 5 February 2020, recipients aged 16 years and below are not allowed to claim remittance proceeds at BDO Remit Counter located inside the SM Store and Servicio (formerly BSC).
  • This is in line with SM internal policy to protect minors who are possibly engage in illegal activities (e.g. OSEC - Online Sexual Exploitation of Children).
  • Per South Korea’s Foreign Exchange regulations, fund transfers to individuals for personal reasons are allowed up to USD 20K per day.
  • As some beneficiary banks in South Korea may charge incoming fees depending on their policy, you may incur additional incoming fees where applicable.
  • For regular overseas funds transfer to Taiwan in TWD, speed of transfer is 1-2 weeks.
    • This is due to the longer than usual time required for regulatory processes between Taiwanese Banks and your Taiwan Bank recipient.
  • For regular overseas funds transfer to Taiwan in all other currencies, speed of transfer is 2-4 business days.
  • Effective from 24 November 2021, transfers to non-KasikornBank recipients will be limited to 49,999 Baht per transaction due to regulatory changes.
    • A pop up will appear informing that the transaction has exceeded the limit of 49,999 Baht for non-KasikornBank recipients.
    • Standing instructions to non-KasikornBank recipients above the limit will be removed.
  • There will be no changes to the limits for KasikornBank recipients.
  • For GBP Account transfer to United Kingdom following information are required:
    • Recipient Full Name
    • Recipient Address
    • Sort Code and Account Number or IBAN
  • For EUR Account Transfer to United Kingdom following information are required:
    • Recipient Full Name
    • Recipient Address
    • SWIFT Code
    • IBAN
  • IBAN structure in United Kingdom as follows:
    • An IBAN in United Kingdom consist of 22 alpha-numeric characters.
    • Sample IBAN: GB29NWBK60161331926819
    • The structure of IBAN is as follows:
      GB = 2 characters ISO country code
      29 = 2 digits checksum number
      NWBK = 4 characters from Bank SWIFT BIC
      601613 = 6 digits branch code
      31926819 = 8 digits account number
  • DBS Singapore only allows certain purpose of payment in VND which doesn’t include for capital related investments purposes. For transfers to company investments, share purchases or loan payments, they can only be made in United States Dollars (USD) or Singapore Dollars (SGD).
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