Cross-Border Funds Transfers
The Future of Cross-border Payments – Faster, Transparent and Traceable
SWIFT's global payments initiative (gpi) service aims to transform the customer experience in making cross-border payments joyful. Corporates can now have the ability to access information through end-to-end cross-border payments tracking in Singapore and Hong Kong. Offering a faster, transparent and traceable cross-border payments, our customers can benefit by having an even more efficient cash management with a faster turnaround time. With this new solution, corporates can now know the status of their cross-border payments in real time, such as whether funds have been received by the beneficiary or whether the funds are still being processed. They will be able to know the amount being credited into the beneficiary account, foreign exchange rate applied and even the time taken for funds to be credited to the beneficiary.
Key features include:
With SWIFT gpi, enjoy the transparency, speed and ability to trace your telegraphic transfers. To know the transaction status, you can simply check it yourself through DBS IDEAL or call our DBS Business Care.
SWIFT gpi is governed by service-level agreements which requires to process or notify the status of your cross-border transactions within just 4 hours! Customers will experience faster turnaround time for their cross-border transactions.
This capability is a default for our customers’ outgoing payments. All eligible cross-border payments will automatically be routed through gpi.
DBS customers can trace their gpi transactions status through DBS IDEAL or by contacting the DBS BusinessCare Team.