DBS Remit & Overseas Transfer FAQ

DBS Remit

  1. What is DBS Remit?
  2. DBS Remit is an online overseas transfer service which supports same day transfer of local currency to designated destinations at $0 fees.


  3. DBS Remit covers overseas transfers to which destinations?
  4. DBS Remit covers transferring INR to India, IDR to Indonesia, PHP to Philippines, USD to United States, CAD to Canada, GBP to United Kingdom, AUD to Australia, SGD to Singapore, CNY to Mainland China, EUR to Eurozone destinations, THB to Thailand and JPY to Japan.


  5. When is the end date to enjoy $0 fees?
  6. $0 fee has no end date. You can transfer funds overseas via DBS Remit at $0 fee, unlimited times.


Submit Overseas Transfer

  1. What currencies are available for online overseas transfer?
  2. You can transfer AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, NZD, SGD, USD, THB (to Thailand only), INR (to India only), IDR (to Indonesia only) and PHP (to Philippines only).


  3. What currencies are only available for offline overseas transfer?
  4. You can only transfer DKK, NOK, SEK at DBS branches.


  5. What information do I need to fill in for online overseas transfers?
  6. You should provide transaction details & recipient details below for overseas transfers:

    Transaction Details:

    • Debit account
    • Transaction destination
    • Transfer currency & Transfer amount

    Recipient Details:

    • Recipient Name (Maximum 35 characters)
    • Recipient Bank (Or Bank Identifier Code)
    • Recipient account number
    • Recipient address (When transferring CAD to Canada, the recipient address should include city/province/state and postal code)
    • Remittance purpose (For some destinations only)
    • Payment details (Optional)

  7. Which Bank Identifier Code should I enter for overseas transfers?
  8. Depending on the transfer currency and destination, you should enter the correspondent bank identifier code:

    Overseas Transfer type

    Destination

    Transfer Currency

    Bank Number /
    Bank Identifier Code

    Length

    DBS Remit

    Australia

    AUD

    BSB Code

    6 characters

    DBS Remit

    Canada

    CAD

    Transit Number

    5-Digit Branch Code + 3-Digit Bank Code (e.g. 12345-678)

    DBS Remit

    Mainland China

    CNY

    SWIFT Code

    8-11 characters

    DBS Remit

    Eurozone countries
    (Including United Kingdom)

    EUR

    IBAN

    Up to 34 characters

    DBS Remit

    United Kingdom

    GBP

    SORT Code

    6 characters

    IBAN

    22 characters

    DBS Remit

    India

    INR

    IFSC Code

    11 characters

    DBS Remit

    Indonesia

    IDR

    N/A

    N/A

    DBS Remit

    Philippines

    PHP

    N/A

    N/A

    DBS Remit

    Singapore

    SGD

    SWIFT Code

    8-11 characters

    DBS Remit

    United States

    USD

    SWIFT Code

    8-11 characters

    DBS Remit

    Japan

    JPY

    SWIFT Code

    8-11 characters

    DBS Remit

    Thailand

    THB

    N/A

    N/A

    General overseas transfer

    Overseas destinations

    Non – local currency

    SWIFT Code

    8-11 characters

    If your bank identifier code is currently not supported online, you can seek assistance from any of our branches to help you complete your transfers.

    Note: If your destination is the UK and you cannot find your sort code on the online list, you can input your IBAN account number instead.


  9. Do I need to exchange currency when I place an overseas transfer instruction?
  10. No, you can transfer your foreign currency directly.


  11. Can I cancel or revise the submitted overseas transfer instruction?
  12. No, the instruction cannot be canceled or revised once it is submitted.


  13. How will I know whether my online overseas transfers are successful?
  14. After submitting and processing your online overseas transfers, you will instantly receive a SMS to confirm your transfers have been submitted. We will then send you a letter of receipt to confirm that your transfers have been sent from DBS.


  15. Will I receive any notification if the transaction is rejected by the beneficiary bank?
  16. In the case where your transfers have failed, funds will be credited back to your account and remittance advice for returning funds will be sent to you.


How to Add New Overseas Recipient

  1. Add new recipient via DBS digibank HK
  2. Step 1: Log in and tap “Pay & Transfer”, then select “Overseas Transfer”

    Step 2: Tap “Add New Recipient”

    Step 3: Select “Destination”

    Step 4: Select “Transfer Currency” and “Recipient Bank” (Or enter Bank Identifier Code)

    Step 5: Enter Recipient details^ and “Account Number”

    Step 6: Verify details and submit*

    ^ Including recipient’s name, recipient’s home/ office address and account number.

    * Authentication with a Digital Token is needed. You can activate your Digital Token immediately via DBS digibank HK. Please click here for details.


  3. Add new recipient via DBS iBanking
  4. Step 1: Log in and click “Transfer”. Then click “DBS Remit and Overseas Transfer”

    Step 2: Click “Add New Overseas Payee”

    Step 3: Enter “Payee Name”, then select “Destination” and transfer currency

    Step 4: Enter payee details

    Step 5: Verify details and submit*

    * Authentication with a Digital Token is needed. You can activate your Digital Token immediately via DBS digibank HK. Please click here for details.


How to Submit Overseas Transfer

  1. Transfer via DBS digibank HK
  2. Step 1: Log in and tap “Pay & Transfer”, then select “Overseas Transfer Funds”

    Step 2: Select existing recipient or add  new recipient

    Step 3: Enter transaction details

    Step 4: Verify details and submit*

    * Subject to your security settings, authentication with a Digital Token may be needed in step 4. You can activate your Digital Token immediately via DBS digibank HK. Please click here for details.

    If you have never used Online Remittance Service, please increase your overseas transfer limit via “Manage Overseas Transfer Limit”.


  3. Transfer via DBS iBanking
  4. Step 1: Click “Transfer”, then click “DBS Remit and Overseas Transfer”

    Step 2: Select “Destination” and enter the transfer currency and amount. Then click “Transfer Now”

    Step 3: Select recipient and enter transaction details

    Step 4: Verify details and submit*

    * Subject to your security settings, authentication with a Digital Token may be needed in step 4. You can activate your Digital Token immediately via DBS digibank HK. Please click here for details.



Overseas Transfer Limit

  1. What is the maximum daily transfer limit for overseas transactions?
  2. The overall maximum daily transfer limit for overseas transactions is HK$3,000,000. However, this depends on the location as per their respective daily or per transaction limit. Please click here for details. The above transfer limit is shared for overseas transfers via DBS iBanking & DBS digibank HK app.

    If the amount of your overseas transfer exceeds the online daily transfer limit, you can visit our branches to make the transfer.


How to Update Overseas Transfer Limit

  1. Update overseas transfer limit via DBS digibank HK
  2. Step 1: Log in and tap “More”, then select “Transfer Settings”, and then click “Manage Overseas Transfer Limit”

    Step 2: Set a New Daily Limit

    Step 3: Verify details and submit*

    * Authentication with a Digital Token is needed if a higher limit amount is set. You can activate your Digital Token immediately via DBS digibank HK. Please click here for details.


  3. First time to update overseas transfer limit via DBS iBanking
  4. Step 1: Log in and click “Transfer”. Then click “DBS Remit and Overseas Transfer”

    Step 2: Select “Destination” and enter the transfer amount. Then click “Transfer Now”

    Step 3: Click “OK” in the pop-up window

    Step 4: Enter the “New Daily Limit”. Then click “Next”

    Step 5: Verify details and submit*

    * Authentication with a Digital Token is needed. You can activate your Digital Token immediately via DBS digibank HK. Please click here for details.

    If you need to update your overseas transfer limit again, you can visit “DBS Remit & Overseas Transfer” and click “Update” under “Transfer Limit”.



Overseas Transfer Handling Charges

  1. What fees will be charged for overseas transfers?
  2. For general overseas transfers, Handling Charges, Cable Charges and Correspondent Bank Charges will be placed. For DBS Remit, all these charges will be waived.

    Charge Type

    Transfer Currency

    Destination

    Fee

    Handling Charges

    Any currency

    Overseas

    HK$100 per transaction
    (waived for DBS Treasures customers)

    Cable Charges

    Any currency

    Overseas

    HK$100 per transaction

    Correspondent Bank Charges

    EUR / GBP

    Overseas

    HK$400 per transaction

    HKD / RMB / USD & other currencies

    Overseas

    HK$250 per transaction

    Transferring overseas at branches usually costs more. Please refer to the “Funds Transfer to Overseas Account” section of the Bank Charges Schedule for details of service charges.


  3. Will Correspondent Bank Charges be debited from the transfer fund amount?
  4. If you transfer via DBS Remit, the Correspondent Bank Charges will be waived.

    If you transfer via general overseas transfer, you can choose “Charge to me” or “Charge to payee”.


    “Charge to me”: The Correspondent Bank Charges will be charged from your debit account.

    “Charge to payee”: The Correspondent Bank Charges will be charged from the transfer amount.


Overseas Transfer Delivery Time

  1. How long does it take for recipients to receive the funds?
  2. In general, the recipient will be able to receive the funds within 1 to 3 working days of the recipient bank from the transfer date. However, this may vary depending on the destination or bank to which the payment is made.


  3. Why hasn’t the recipient received the funds?
  4. If the transaction status is “Sent”, but the recipient still hasn’t received the funds, it may due to the local clearing process of the recipient bank. Please check with the recipient bank.

    If the transaction status is “Error” or “Reject”, please call our Customer Service hotline.


Mobile Remittance Service

  1. Can I transfer funds via DBS digibank HK app to recipients whom I added in DBS iBanking before?
  2. Yes, you can and vice versa; you can also make transactions via DBS iBanking with recipients added on DBS digibank HK app.


  3. Can I view the record of overseas transfer via DBS iBanking on DBS digibank HK app?
  4. Yes, you can view your online overseas transaction history on both DBS iBanking and DBS digibank HK app.


  5. How many transaction records can I view on DBS iBanking or DBS digibank HK app?
  6. In DBS iBanking, you can view your last 5 transactions records in “DBS Remit and Overseas Transfer” under “Overseas Transfer History”, and view all transactions records in past 6 months by clicking “View All”.

    In DBS digibank HK app, you can view your last 10 transactions records over the past 6 months under “RECENT”.


Note: You may click here for more details.

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