NOTE: Due to the Covid-19 quarantine situation, our Myanmar Kyat (MMK) remittance service may encounter service delays for some transfers and all cancellation and/or tracer requests.

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 digibank to view rates.

Location
You are Sending
Recipient Gets

Exchange Rate:

You will enjoy:
S$0 Fee!
Same Working Day
 

New Destinations with $0 Fee

Transfering overseas via DBS Remit to these new destinations at $0 Fee.

 

First-time Transfer

If this is your first-time transferring with us, you simply need the following items in order to get started.

  1. DBS digibankingNEW and bank account

    • Don’t have digibank or a DBS/POSB account?
    • Open an account instantly and start digibanking for branchless, paperless and waitless banking experience that’s intuitive, invisible and intelligent.
    • Simply download the digibank mobile app and sign up with MyInfo to get instant access to MyAccount, DBS Visa Debit Card and more.

           
  2. Details of your recipient

    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
    4. 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.

Add Recipients

Delete Recipients

Perform Online Overseas Funds Transfer

Check Funds Transfer History

Change Overseas Funds Transfers Limits

 

Cut-off Timing

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)
Australia 12:00
Canada 17:00
Eurozone 17:00
Hong Kong 16:30
India 16:30
Indonesia 14:00
Japan 10:30
Korea 14:00
Mainland China 15:00
Malaysia 14:00
Myanmar 12:00
New Zealand 10:00
Philippines 14:00
Thailand 11:30
United Kingdom 17:00
United States 17:00
Vietnam 14:30

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.


Click here for more information on the holidays across the various locations.

 

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 MYR and MMK Remit. Rates for these currencies are confirmed only between 09:25 and 17:00 (SGT) on working days.
  • Transfers via CNY Remit. Rates for these currencies are confirmed only between 09:25 and 15:00 (SGT) on working days.
  • Transfers of BHD, HUF, KRW, MUR, PLN, QAR and TWD. Rates for these currencies are confirmed if the application is received from 9:25 to 17:00 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

Locations

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

Same-day transfer*

2 – 4 working days

Cable / Telex Charges

$0

$20

Handling Commission

$0

  • $5 for debiting amount equal to or below S$5,000;
  • $10 for debiting amount equal to or below S$25,000;
  • $35 for all other amounts

Agent Bank Charges

$0

Where applicable

* 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” or a “zero-fee” icon for clarity that transfer charges will not apply. Kindly re-add your payee if you do not see a “DBS Remit” or a “zero-fee” icon on your transfer page, for an overseas transfer to our eligible locations in their local currency.

DBS Remit icon: Zero-fee icon:

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.


 

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.

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).


  • 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.
 

Learn More

We will be sharing on tips and insights on transferring funds overseas. Do check out this section from time to time.

Explore more

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