Purchase a Demand Draft

Demand draft allows you to transfer foreign currency overseas in the form of a bank draft, based on your instructions. It is suitable for payments to beneficiaries who do not accept cash.

Banking Part of: Guides > Your Guide to digibank Online

You can purchase a Demand Draft easily using:

digibank (Online)


Purchase Demand Draft (Mail)
  • Under Local Transfers - Other Services, click on Purchase Demand Draft (Mail).
  • Log in with your 6-Digit iB Secure PIN.
  • Select the Receipt’s Name.
    ( Follow these steps to add a Demand Draft Recipient )
  • Enter the Currency of transfer.
  • Enter your Contact Number and Select the Account you wish to use.
  • Enter the Amount in foreign currency that you would like to transfer.
  • Verify the Rates & Charges and click Next
  • Verify the details and click Submit to apply for your Demand Draft.

 
Purchase Demand Draft (Self-Collect)
  • Under Local Transfers - Other Services, click on Purchase Demand Draft (Self-Collect).
  • Log in with your 6-Digit iB Secure PIN.
  • Enter the Recipient's Name, Address, Country and Currency of transfer.
  • Enter your Contact Number and Select the Account you wish to use.
  • Enter the Amount in foreign currency you would like to transfer.
  • Verify the Rates & Charges
  • Select your Preferred Collection Branch from the list and click Next.
    • DBS Bishan Branch
    • DBS Holland Village Branch
    • DBS Jurong Point Branch
    • DBS MBFC Branch
    • DBS Plaza Singapura Branch
    • DBS Raffles Link Branch
    • DBS Raffles Place Branch
    • DBS South Bridge Branch
    • DBS Tampines One Branch
    • DBS Thomson Branch
  • Verify the details and click Submit to apply for your Demand Draft.

Notes
  • Available in 6 foreign currencies: US Dollar, Japanese Yen, Australian Dollar, Euro, Hong Kong Dollar and Sterling Pounds.
  • Upon submission, it will take up to 2 working days for DBS Bank to mail out the Demand Draft. The time it takes for the Demand Draft to reach the recipient is dependent on the country it is being mailed to.
  • A commission fee of 1/8% of S$ equivalent of remittance amount, subject to minimum S$5.00 and maximum S$100.00, is charged for every Demand Draft that is mailed, plus any additional postage charges.
  • Postage charges are S$2.50 for delivery to a local address, and S$4 for overseas delivery depending on which country the demand draft is being mailed to. All delivery will be by registered post. This commission charge and postage charges will be debited from your account only at the point of processing and are non-refundable.
  • If you apply before 1200 hr (Monday to Friday), your demand draft can be collected from the branch between 1600 hr and 1700 hr on the same day. If you apply after 1200 hr (Monday to Friday), or on Saturdays, Sundays and Public Holidays, you can collect your demand draft after 1200 hr on the next business day.
  • Maximum amount per Demand Draft is S$10,000.

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Branch

  • Alternatively, you may purchase a Demand Draft at any DBS/POSB Branches

Notes
  • Present your NRIC/Passport upon application and collection;
  • You need to hold a valid DBS/POSB Bank Account;
  • Processing time is around 30 minutes.
    (Please arrive at the branch at least 30 minutes before it's closing time)

Important Notes

  • Demand Drafts are valid for payment within 6 months from the date of issuance.

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