Country Specific Information for DBS Remit

Important information you need to take note of when making an overseas fund transfer to Bangladesh, 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

For Bank Account Transfer
  • Ensure that your Recipient’s Full Name is as per their bank’s records in Bangladesh.
  • Recipient account number in Bangladesh could be 8 digits to 17 digits long.
  • Please DO NOT submit remittances to business or corporate accounts. This service is only available for individual recipients.
  • Recipient's account with BRAC Bank in Bangladesh will receive credit on same day Monday to Saturday.
  • Recipient’s account with other banks in Bangladesh will receive credit into their bank account from Monday to Thursday. Learn more.

For transfer to bKash wallet
  • You will need these details for the transfer
    • Recipient’s bKash wallet ID – Mobile Number
    • Recipient’s full name as registered with bKash wallet
    • Recipient’s living in district
  • Recipient will receive instant credit on Monday to Saturday
  • BDT 124,999 is maximum threshold limit, per transfer

For Cash Pickup
  • You will need these details for the transfer:
    • Recipient’s full name, as per name in identity document (Bangladeshi Passport / National ID / Driving License)
    • Recipient’s mobile number
    • Recipient’s address
  • Recipient will require the following for verification during cash pickup:
    • Identity document: Bangladeshi Passport / National ID / Driving License
    • 16 characters Transaction Reference Number provided by DBS (e.g., “XXXXOTXXXXXXXXXX” is Transaction Reference. “X” is numerical value and two letters “OT”)
  • Recipient will receive SMS notification from BRAC Bank when cash is ready for collection.
  • Recipient can collect cash at BRAC Bank Branch location or Agent Outlet locations from Sunday to Thursday, between 10am to 4pm Bangladesh time.
  • Some Government Schedule Banks may take longer to process cash pick ups, when their bank locations are at remote locations (Government Schedule Banks: Sonali Bank, Rupali Bank, Agrani Bank, Janata Bank, Bangladesh Krishi Bank)
  • Maximum of BDT 100,000 can be collected from Agent Banking Outlets.
  • List of cash pickup location: Branch locations & Agent Banking Outlets, click here.
  • 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
General
  • Effective 15 March 2024, as per the Reserve Bank of India’s guidance, any payment to Paytm Payments Bank (IFSC codes: PYTM0000001, PYTM00000SC, PYTM0123456) will be blocked. Customers are encouraged to request for another account from their recipients if they wish to transfer funds to them via digibank.

  • Effective 14 August 2023, as per the direction of our agent bank in India, DBS Remit will temporarily not support any overseas transfer to State Bank of India - New Delhi Main Branch (IFSC code: SBIN0000691). All existing recurring payments and recipients linked to this IFSC code will be removed from digibank. Customers are encouraged to request for another account from their recipients if they wish to transfer funds to them via digibank. Alternatively, customers can also make overseas transfer in non-INR currency to the affected bank branch. Please validate with your recipient if their bank can accept non-INR transfers, before making payment.

    Note: Regular Overseas Fund Transfer fees will apply for overseas transfer in non-INR currency to India.
  • Overseas transfers to other IFSCs belonging to State Bank of India remain unaffected, and customers can continue to transfer funds to them if they are available for selection on digibank.

Purpose of Payments
  • For remittances in INR, customers are required to clearly indicate the purpose of payments to their recipients in India. Effective 14 August 2023, DBS will not support any amendment of payment purposes once the remittance is submitted. Please perform another transfer with the appropriate payment purpose, where required.
  • 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
    • Travel – Business
    • Travel – Education
    • Travel – Medical
    • Travel – Holiday
    • Pension Funds – Premium
    • Education Fees
    • Pay / Salary
    • Medical Fees
    • Life Insurance – Non Term
    • General Insurance
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.

  • Effective 19 June 2023, we have removed max. threshold limit of USD 35,000 per transfer. You can now make payment of max SGD 200,000 equivalent in IDR to recipients in Indonesia.
  • 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).
  • Any remittance made on Malaysia, Singapore or United States holidays will be processed on the next working day.
  • From 4 August 2024, you will no longer incur a S$3 service fee for DBS Remit to Malaysia transactions (in MYR) valued at S$500 and below.
    • This applies to one-time transactions as well as Standing Instructions.
    • Click here to find out how you can set up a recurring funds transfer to an overseas account.
  • 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
  • Unsuccessful transfers are refunded in US Dollar (USD) by our agent bank:
    • If your transfer was made from a Multi-Currency Account (e.g. Multiplier Account or My Account), the funds will be returned in USD to your foreign currency wallet.
    • If your transfer was made from a Singapore-dollar (SGD) denominated account type, any returned funds will be automatically converted and credited to your bank account in SGD.
  • Financial Account Transfers to Malaysia in MYR currency is not allowed (as defined under the Foreign Exchange Policy Notices of Bank Negara Malaysia), such as extension/repayment of short/long term loans, real estate purchases, shareholder’s loans, equity/debt securities, finance lease, financial derivatives, and cash pooling.
  • Purpose of payments from below list are only permitted 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
    • Postal and courier services
    • Premium paid on life insurance
    • Premiums paid on other general insurance
    • Salary used for family support and savings
    • Taxes on income, wealth and other taxable assets
    • Telecommunications services
    • Travel for pilgrimage and religious observances
  • Who can I send to?

    Bank accounts belonging to individuals in Mainland China: We do not support transfers to businesses or corporate accounts.

  • Purpose of Transfer

    DBS Remit to Mainland China is solely for retail customers or individuals for the purpose of personal savings or household expenses only. It cannot be used to pay a business.

  • Exchange Rates

    Exchange rates are confirmed only between 09:15 and 15:00 (SGT) on business days. If you have submitted a transfer using digibank outside these timings, rates indicated are indicative and will only be confirmed upon processing, from 09:15 (SGT) onwards.

  • What information do I need about my recipient?
    • 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
Important Information
  • Account Verification: Please ensure the recipient details are accurate and match the recipient's bank records to facilitate a successful transfer. Verify with the recipient if they have an individual bank account in Mainland China and whether it's a Bank Account (Type 1) or Digital Account (Type 2).
    • Bank Account (Type 1) – No Limit
    • Digital Account (Type 2) – Maximum CNY 10,000 daily limit
  • Regulations: All overseas funds transfer to Mainland China in CNY are subject to the regulations of The State Administration of Foreign Exchange of the People's Republic of China.
  • Annual Limit: Each Mainland China recipient can receive funds up to a maximum of USD 50,000 equivalent per annum.
  • Multiple Recipients: For transfers to multiple recipients within a short period, the transfers may be held as additional informtation may be required to process future payments.
Please click here for a step-by-step guide to help you get started with DBS Remit to Mainland China.
  • Who can I send to?

    Alipay Wallet users in Mainland China: Only transfers to Alipay Wallets registered using a Mainland China mobile number starting with +86 are supported.

  • Purpose of Transfer

    DBS Remit to Mainland China is solely for retail customers or individuals for the purpose of personal savings or household expenses only. It cannot be used to pay a business.

  • What information do I need about my recipient?
    • Recipient’s Alipay Customer ID: This is their mobile number, which should be a Mainland China mobile number starting with +86.
    • Recipient’s Full Name: This is the name associated with their Alipay account.
Important Information
  • Transfer limits to Alipay Wallet user in the Mainland China:
    • Maximum CNY 50,000 per transfer
    • Maximum 5 transfers in a month to any Alipay wallet user
    • Maximum CNY 500,000 annual limit
  • Identifying Transfers to Alipay Wallets:
    • Recipients can identify credit to their Alipay wallet using the 16-character Transaction Reference Number provided by DBS (e.g., "XXXXOTXXXXXXXXXX" where "X" is a numerical value and "OT" are letters).
  • Unsuccessful Transfers and Refunds:
    • Unsuccessful transfers are refunded in US Dollar (USD) by our agent bank.
    • If your transfer was made from a Multi-Currency Account (e.g., Multiplier Account or My Account), the funds will be returned in USD to your foreign currency wallet.
    • If your transfer was made from a Singapore-dollar (SGD) denominated account, any returned funds will be automatically converted and credited to your bank account in SGD.
  • Regulations: All overseas funds transfer to Mainland China in CNY are subject to the regulations of The State Administration of Foreign Exchange of the People's Republic of China.
  • Multiple Recipients: For transfers to multiple recipients within a short period, the transfers may be held as additional information may be required to process future payments.
  • Recipient Verification: Due to regulatory requirements, starting 9 Sep 2024, Alipay may send a notification to your recipient requesting for additional information before funds are credited to their Alipay wallet. Please remind your recipient to check their Alipay app and respond within 2 working days. If they don't, the funds will be returned to DBS and refunded to your bank account at the prevailing exchange rates, if applicable. For more information, refer to Alipay’s Quick Collect Guide.
  • 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.
With effect from 12 Oct 2023, transfers to HSBC Savings Bank (Bank Code: HSBCS) will no longer be supported. Any submitted payments will be rejected by DBS’ agent in the Philippines and returned to DBS
  • 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 Address
  • Any DBS Remit of S$150 and below to a GCash wallet in the Philippines will incur a S$1 fee. There is no fee for transfers above S$150.
  • 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.
  • For transfer of TWD to Taiwan, max transaction limit is TWD 450,000 per transaction.
  • Max. threshold limit for Kasikornbank recipients has been increased to 2,000,000 Baht per transfer.
  • Max. threshold limit to non-Kasikornbank recipients will remain as 49,999 Baht per transfer, due to regulatory guidelines (applicable since 24 November 2021)
  • For transfers to non-Kasikornbank recipients of above 49,999 Baht per transaction, kindly refer to the step-by-step guide here. Fees and charges will apply.
  • 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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