Save more, wait less with DBS Remit

If you’ve only got a minute:

• DBS Remit streamlines overseas money transfers, saving you time and effort typically spent at banks or remittance agencies.  
• You can send funds within the same day to recipients of more than 50 countries across the world with zero additional fees.  
• DBS Remit offers convenience, security, and cost-efficiency, empowering you to make smarter financial decisions. 

Thanks to globalisation and technological advancements, the world is “shrinking”. In other words, the ease of connectivity to the rest of the world makes everything seem and feel “closer”. This applies not just to travel and tourism, but also to education, career development, trade, and business.  

Globally, and especially in global cities like Singapore, this is evidenced by the countless international currency transactions that take place each day.  

Whether you are making a currency transfer overseas for family living abroad, education, overseas investments, or properties, here are 4 reasons to make DBS Remit your go-to method.  

1. Convenient transfers anywhere

While not always a tedious task, transferring money overseas does take up precious time as it involves dropping by a bank branch or a remittance agency, topping up a mobile wallet, or getting a cashier’s order.  

You will also have to time your transfer well as it can take a few days for your recipient to receive the funds. If the funds get to them on a public holiday, it might delay your transfer and/or affect the exchange rate you are getting.  

With DBS Remit on digibank, you can say goodbye to all that administrative hassle and waiting!  

Make same-day overseas transfers effortlessly to over 50 destinations, without incurring extra fees, at any time, from any place. 

You can even set up recurring transfers via digibank and your funds will be automatically deducted on the date of transfer.  

All you need is your DBS/POSB digibank app, a secure internet connection, and you are good to go!  

Find out more about: DBS Remit 

2. Seamless transaction process

The process of making an overseas transfer used to involve many steps. For example, you’d have to give the bank specific instructions, check exchange rates and fees, top up a holding account, wait for the confirmation of your top-up and more, all before your funds can be cleared for transfer.  

You will also have to coordinate with your recipient, so they know to keep an eye out for the incoming funds in the next few days.  

DBS Remit removes all these extra steps, allowing you to make an overseas transfer directly out of your preferred bank account straight into your recipients account on the same day, subject to country-specific cut-off timings. You can even remit to e-wallets like Alipay in China, GCash in Philippines, and BKash in Bangladesh.  

The best part? 

All it takes is 3 taps! This means no more navigating through complicated transaction processes or worrying if you’re doing it all wrong.  

3. Secured Transactions

The anxiety that comes from waiting for your funds to reach your recipient is an emotion that is familiar to many. Naturally, this is magnified when an overseas recipient is involved.

Alleviate your worries by transacting with a reputable bank you can trust, and rest assured that the funds will reach the other side safely. 

DBS digibank allows you to keep track of your transfer status and be notified when the funds have reached your recipient, or if the transfer is unsuccessful. 

This feature is available for transfers to Australia, Hong Kong, India, Japan, United Arab Emirates (UAE), United Kingdom (UK) and United States (US), with more countries to be added soon.  

Even with large funds transfers, your transactions are securely handled. You can enable security settings such as 2 Factor Authentication (2FA) and biometric authentication at any time.  

Having said that, when making any funds transfer, it is always good practice to check (and double check!) that all your information is correct and adopt good cybersecurity habits in your banking journey. 

Read more: 6 online banking safety tips 

4. Save More

When you transfer funds overseas whether through a bank or an agency, having to pay a slew of processing and transfer fees is inevitable.  

Or is it? 

With DBS Remit you can enjoy S$0 transfer fees when sending your money to more than 50 destinations. Especially for those who transfer money abroad regularly, this can quickly add up to a significant amount of savings.   

DBS Remit also gives you competitive, locked-in exchange rates so there’s no unpleasant surprises. You can enjoy preferential exchange rates when you send S$50,000 or more.  

Same-day transfers at $0 fees apply when you transfer money online to the following countries: Australia, Bangladesh, Canada, Eurozone countries, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Mainland China, Myanmar, New Zealand, Philippines, Thailand, UAE, UK, US and Vietnam. 

Read more: 10 money management tips for your holidays 

Try DBS Remit today!

With modern day advancements, our world is indeed “shrinking”, but your time, energy, and funds need not be! 

Using DBS Remit means that your bank transfer isn’t just convenient, but also simple, secure, and cost-effective, so you can channel your precious resources to other things that matter.

Check out this step-by-step guide on how to using DBS Remit on your DBS/POSB digibank mobile app.

Ready to start?

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Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.