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Cross-Border Funds Transfers
Demand Drafts
Make non-urgent overseas payments in more than 20 currencies
Enjoy greater convenience and make payments in more than 20 currencies without the need to provide beneficiary account details with DBS Demand Draft. We issue the draft based on your instructions, and pay the beneficiary when it has been deposited and cleared. Demand drafts are suitable for non-urgent overseas payments.
Why choose DBS Demand Drafts?
- Save money with this low cost payment solution
- Enjoy greater convenience because you don’t need to provide your beneficiary’s account details
- Provide us with the beneficiary’s address and we’ll mail the Demand Draft directly to them
- Request a Demand Draft in more than 20 currencies from around the world
FAQs
What information will I need to provide to DBS for a Demand Draft?
Simply provide us with the following information:
- Beneficiary name
- Preferred currency
- Beneficiary address (only if you need us to mail the demand draft directly)
- Beneficiary location
When will the amount stated on the demand draft be deducted from my account?
The amount will be deducted once we issue the Demand Draft.
What is the validity period of a Demand Draft?
Demand drafts are typically valid for six months, however the validity period is shorter in some countries.
How do I apply?
Simply submit your application via IDEAL™, our online banking platform, for faster processing and an extended cut-off time. Alternatively, you may submit your applications 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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DBS SME Banking Services
No Minimum Balance Requirement
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The new Digital Account comes with NO MINIMUM BALANCE required.
