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Overseas Funds Transfer & Remit
About DBS Remit
From transferring money overseas to your family and friends to paying for your property overseas, DBS Remit is a safe, fast and convenient way to do online money transfers.
Enjoy same-day transfers at $0 transfer fees when you transfer funds online via DBS Remit to the following locations.
Australia, Canada, Eurozone, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mainland China, Myanmar, New Zealand, Philippines, Thailand, UK, USA and Vietnam.
And that’s not all. You’ll enjoy:
Check Rate Now
At DBS, we offer one of the most competitive foreign exchange rates for your favourite currencies. Rates shown below are indicative. Login to DBS iWealth® to view rates.
New Destinations with $0 Fee
Transfering overseas via DBS Remit to this new destination at $0 Fee.
If this is your first-time transferring with us, you simply need the following items in order to get started.
- DBS/POSB Account
Open an account with us online in just a few minutes. Click here to find out more about our accounts.
- DBS iWealth
You need DBS iWealth to enjoy $0 fee and same-day transfer via DBS Remit. More about DBS iWealth
- Details of your recipient
Ensure that you have the following details of your intended recipient before you begin funds transfer online.
- Bank Name
- Account Number
- Recipient’s full name
- Recipient’s Address
Please ensure the recipient details are as per the recipient’s bank records, to facilitate a successful transfer.
Step by Step Guide
Below are the broad steps to guide you along the way throughout your transfer journey with us.
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.
|Markets||Cut off time for same day online transfers (in SGT)|
NOTE: Due to the Covid-19 quarantine situation, our Philippines Peso (PHP) remittance service may encounter service delays for some transfers. Cut off timing for transfers above PHP50k will be temporarily changed from 2pm to 11am instead.
|Date||Locations||Holidays||Delayed in Remittance|
|31 Mar||India||Odisha Day||Remittances made to India on 31 March after 4:30PM will be processed on 3 April due to public holidays.|
|03 Apr||China||Ching Ming Festival||Remittances made to the following locations on 3 April after cut-off time will be processed on 7 April due to public holidays.|
|08 Apr||Philippines||Maundy Thursday||Remittances made to Philippines on 8 April after 2:00 PM will be processed on 13 April due to public holidays.|
|09 Apr||Australia||Good Friday
|Remittances made to the following locations on 9 April after cut-off time will be processed on 14 April due to public holidays.|
|Hong Kong||Good Friday
Black Saturday Sunday
|13 Apr||India||Tamil New Year||Remittances made to India on 13 April after 4:30 PM will be processed on 15 April due to Tamil New Year.|
|24 Apr||Australia||Anzac Day||Remittances made to Australia on 24 April after 12:00 PM will be processed on 28 April due to Anzac Day.|
|29 Apr||Hong Kong||Birthday of the Buddha||Remittances made to Hong Kong on 29 April after 4:30 PM will be processed on 4 May due to Birthday of the Buddha holiday.|
Fees and Charges
There are no transfer fees when you transfer money overseas to the selected locations using DBS Remit. For all other locations where DBS Remit is not available, fees and charges may apply. Click here for more information.
Please note that FX rates for all transfers are locked in 24/7 except for
- Transfers via CNY and MYR Remit. Rates for these currencies are confirmed only within cut-off times above
- Transfers of BHD, HUF, KRW, MUR, PLN, QAR, TWD and MMK. Rates for these currencies are confirmed if the application is received from 9.25am to 5.00pm on working days only.
Frequently Asked Questions
With DBS Remit, you can transfer funds overseas and enjoy same-day transfer at $0 transfer fee. This is only available when you send money online to the selected locations.
For locations where DBS Remit is currently unavailable, cable and handling charges apply. Agent bank charges may also apply.
Below is an illustration on the difference between DBS Remit and the regular Overseas Funds Transfer.
|DBS Remit||Regular Overseas Funds Transfer|
Australia, Canada, Eurozone, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mainland China, Myanmar, New Zealand, Philippines, Thailand, UK, USA and Vietnam
All Other Locations
Speed of Transfer
2 – 4 working days
Cable / Telex Charges
Agent Bank Charges
* Before 5:00PM from Mondays to Fridays, excluding Public Holidays.
No, DBS Remit is only available via DBS iWealth.
You will incur a minimum amount of S$30 if you perform overseas money transfer at the branch. We strongly recommend you transfer money online it online via DBS iWealth.
For overseas transfer to the selected locations via DBS Remit before the cut-off timing on a business day will be transferred the same day. Otherwise, the transaction will be transferred on the following working day.
For overseas funds transfer to other locations where DBS Remit is not available, this will generally take 2 to 4 working days depending on how quickly your recipient’s bank process the money.
I am sending money to the locations where DBS Remit is offered. Why do I still get bank transfer charges?
To avoid any bank transfers charges, you need to ensure that following details are selected when you are transferring online via DBS iWealth
- Select the locations eligible for DBS Remit (e.g. Australia)
- Select the currency of your transfer destination (e.g. AUD)
We have also indicated “DBS Remit” for clarity that transfer charges will not apply.
You will not be able to amend your overseas transfer online transaction after you have submitted. Kindly call our Customer Service Hotline at 6327 2265 for further assistance. Amendment is on best effort basis and there is a charge of S$30 per transaction, plus any agent bank charges. You may also incur additional FX losses for recalling the transfer.
You will not be able to cancel your transfer online. Kindly call our Customer Service Hotline at 6327 2265 for further assistance. Cancellation is on best effort basis and there is a charge of S$35 per transaction, plus any agent bank charges.
Other Transfers Topics
Inward Telegraphic Transfer is a receipt of funds by SWIFT/Telex from an overseas party. DBS Bank has a very extensive network of correspondent banks and overseas branches. As such, you can receive funds in various currencies from most parts of the world.
To receive funds from an overseas party, please provide the recipient with the following details:
- Your name as per the records of DBS Bank
- Your DBS / POSB Bank account number
- Name of Beneficiary Bank: DBS Bank
- Address of Beneficiary Bank: 12 Marina Boulevard, DBS Asia Central, Marina Bay Financial Centre Tower 3, Singapore 018982
- Country: Singapore
- SWIFT Address/ Code: DBSSSGSG
You can look into your account transaction history via digibank to check whether the funds have been credited.
- For crediting to a SGD or Foreign Currency Current Account – S$10 handling commission (fee is waived for Treasures customers)
- For crediting to a Foreign Currency Fixed Deposit Account – Free
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. Click here for more information.
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 (i.e. OSEC - Online Sexual Exploitation of Children).
Per Vietnam’s Foreign Exchange regulations, fund transfers for company investments, share purchases or loan payments can only be made in United States Dollars (USD) or Singapore Dollars (SGD).
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.
- Bank Name
- Account Number
- Recipient’s full name in English
- Recipient’s full name in Chinese
- Recipient’s National ID no.
- Recipient’s Address
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, per the stated regulation (in Chinese only).
- 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.