With online banking, you can transfer money easily, but it is expensive. Thankfully, there are better options to make an overseas money transfer at competitive foreign exchange rates and zero transfer fees. With DBS Remit, you have one of the best options to send money to anyone effortlessly and securely.
If you have a bank account with DBS, you can transfer funds or make payments from Singapore to the recipient’s bank account through DBS digibank app. The money transfer is so effortless that you can have it done, with just three taps. You can now send money from Singapore to over 50 destinations on the same day. The countries on the list are Canada, Hong Kong, Australia, Japan, Eurozone countries, Malaysia, India, Korea, Indonesia, Mainland China, New Zealand, Myanmar, Thailand, Philippines, UAE, USA, Vietnam, UK, and Bangladesh.
With DBS digibank app, you can send money and track it to know where the money is until it reaches the recipient. Also, you can check the exchange rates at no extra cost and transfer money with a simple tap.
Some prime benefits of online money transfers
You can find several money-transfer providers who offer you the best services. Nevertheless, choosing the ideal one depends on what benefits they offer. With DBS Remit, it is built-in to digibank, which is DBS’ online banking service. It offers:
1. Same-day overseas money transfer
DBS Remit helps you make high-speed international fund transfers to as many as 50 countries from Singapore on the same day. The beneficiaries receive the money transferred to their bank accounts within a shorter time frame, provided the transfer process is initiated before the cut-off time. You can save a lot of time, which you will otherwise take for a standard wire transfer abroad.
2. No transfer fees
When you make an international money transfer via a standard telegraphic transfer, you have to pay a fee for the service. It is not the case with DBS Remit, for it allows its customers to transfer funds in one currency to the recipient, who will receive them in their preferred currency for no transfer fees. DBS Remit does not levy any fees to transfer funds or on successful receipt of money.
3. Competitive foreign exchange rates
When it comes to international money transfers, the exchange rate is an essential aspect to consider. With larger fund transfers, the impact of the exchange rate will be higher, for a slightly better rate will result in the savings of a considerable amount of money. Using DBS Remit, you can ensure that you receive the best value for your overseas money transfers into bank accounts in a foreign country. It also enables you to choose the currency exchange rate using the competitive forex rates on remittance.
4. Track the fund transfer
Once you have made the fund transfer, you track the status of the transfer live on the bank app like DBS digibank app to know where the money is. You need not worry about when the recipient will receive the money. You will receive a push notification regarding the receive status. The facility enables you to keep informing your recipient about the payment status until the receipt.
5. User-friendly features
Sending money abroad has become so easy that you have to tap the ‘Overseas transfer’ option on your DBS digibank app, check the transfer rates, enter the amount, select the recipient, and send it after reviewing the transaction. It’s that simple and quick!
To conclude, making an international money transfer involves zero fuss and zero transfer fee if you choose the best service provider. DBS Remit helps you make fund transfers at high-speed, low-cost, and competitive FX rates.
