NOTE: Due to the Covid-19 quarantine situation, our Philippines Peso (PHP) remittance service may encounter service delays for some transfers and all cancellation and/or tracer requests. Cut off timing for transfers above PHP50k will be temporarily changed from 14:00 to 11:00 instead.

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.

* Before 5:00PM from Mondays to Fridays, excluding Public Holidays.

No, DBS Remit is only available via digibank.

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 digibank.

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.

To avoid any bank transfers charges, you need to ensure that following details are selected when you are transferring online via digibank

• 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.

Your default daily transfer limit for overseas funds transfers is set at S$500. You can increase via digibank. Click here for step-by-step guide to amend your transfer limit.

There may be occasional delays caused by unforeseen issues with our payment partners and local markets.

1. 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 country, the transaction will be processed on the next working day instead.

    

2. 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 the Recipient’s Full Name (per their bank records), Postal Address etc
   • Check the transfer amount is in the correct currency that you wish to send to
   • Select the Purpose of Payments (for selected countries)

    

3. 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.

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.

Service Charges

• 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 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.

1. Bank Name
2. Account Number
3. Recipient’s full name in English
4. Recipient’s full name in Chinese
5. Recipient’s National ID no.
6. Recipient’s Address
7. Recipient’s mobile number

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).