Reasons for Delayed Overseas Funds Transfer
Find out what are the possible reasons your overseas funds transfer is delayed.
Part of: Guides > Your Guide to Overseas Funds Transfer
Important information
- We move your money during business days in Singapore. However, things may take a little longer if the location you’re sending to has a national holiday. Do check out from time to time.
- There may be occasional delays caused by unforeseen issues with our payment partners and local markets.
Cut-off time and/or Public Holidays
- For locations where DBS Remit is available, there is a daily cut-off time. Do ensure that your DBS Remit is sent before the cut-off time so that the transaction is processed on the same working day.
- If your transaction is submitted before a weekend or on a public holiday in the sending or receiving destination, the transaction will be processed on the next working day instead. Please refer to the table below for the next available working day.
Upcoming Remittance Delays
Date Currency 08 - 15 Apr IDR 10 - 14 Apr BDT 12 -16 Apr THB 12 Apr AED 17 Apr INR 18 Apr VND 25 Apr AUD, NZD
Country Specific Arrangement
- Please see more details on your transfers to specific countries here.
Inaccurate or Missing Information
-
You may have provided incorrect instructions in your overseas transfer which may result in financial losses for you and/or your beneficiary. Always ensure the following:
- Provide accurate information on recipients
- Full Name as per their bank records. Do not use nicknames or short form names for individuals. To update Recipients’ names, please refer to 3 Steps to Ensure Accurate Recipient Name.
- Full postal address. Please ensure that there are no extra/missing letters and digits.
- Check the transfer amount is in the correct currency that you wish to send to
- Select the Purpose of Payments (for selected countries)
- Provide accurate information on recipients
- No amendments can be made to DBS Remit Corridors. Please ensure your recipient’s details are accurate and matches the recipient bank’s records, before you make the online transfer.
Mandatory Regulatory Checks
- There may be additional checks related to anti-fraud or anti-money laundering which can cause processing delays. In most cases, it is not expected of the beneficiary and/or agent bank to share the reason for the checks or delays.
- In such situations, you may be asked to provide additional information if the transfer is intended for the said recipient.
- In line with regulatory guidelines, we may reach out to you for remittances that are submitted without Recipients’ full names as per their bank’s records to request for clarification or official proof of identity i.e. ACRA business registration details, invoice references, or national identity documents is provided. Transactions may be cancelled if required information is not provided within 24 hours of request.
- Please note that any incomplete transfer request will be cancelled to minimise your risk if the requested documentation is not provided within 24hrs.
Was this information useful?