DBS Overseas Money Transfer Review

Enjoy an extensive range of financial services and transfer money worldwide with DBS overseas money transfer

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Initiate a money transfer with DBS

DBS overseas money transfer provides a safe and convenient way to move funds to any local bank account or overseas via Internet banking services. With DBS iBanking, you can manage your account, personal details, update passwords, set up transfers or pay your bills wherever you are. You can also access all major currencies and save on international remittances with DBS competitive exchange rates.


Compare DBS to other money transfer providers

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
SGD 2,000 1 - 2 days SGD 0.00 0.695 USD
Send 35+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it. Go to site Show details
SGD 250 1 day SGD 0.00 0.695 USD
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Go to site Show details
SGD 2,000 1 day SGD 0.00 0.695 USD
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.
Go to site Show details
SGD 1 Same day SGD 3.99 0.699 USD
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
SGD 250 1 day SGD 0.00 0.695 USD
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
SGD 1 1 - 2 days SGD 22.50 0.702 USD
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
SGD 5 1 - 2 days EUR 3.00 0.698 USD
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
SGD 1 1 day SGD 21.50 0.702 USD
Pay no fees on your first two transfers, up to S$3000.
SingX offers the real exchange rate every time you make a transfer and is based locally in Singapore.
Go to site Show details
SGD 200 2 days SGD 25.00 0.7 USD
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How much does it cost to transfer money with DBS Remit?

DBS money transfers enable you to safely transfer funds to more than 150 countries in over 20 currencies conveniently via iBanking or digibank app, or at any of the branches. With DBS remit, you can enjoy $0 transfer fee when you send money to India, Philippines, Malaysia, Indonesia, China, Hong Kong, UK, Australia, USA, and Eurozone counties. You can view the complete list of Eurozone countries here.

Besides the attractive fee waiver, DBS remit also provides the following advantages:

  • Locked-in FX rates (except China and Malaysia)
  • Same-day online transfers (cut-off time varies with different countries)
  • Auto FX transfers at your preferred rate with FX watch for amounts over S$1,000
  • Preferential exchange rates for amounts over S$50,000 (except Philippines, Indonesia, China and Malaysia)

So compared to its regular overseas fund transfer and branch remittance, you can save at least S$20 on cable charges.

For branch transfers and OTTs to other countries, the following charges will apply:

Branch TransfersOnline Transfers
Cable/telex chargesS$20 per transaction S$20 per transaction
Handling commission1/8% of the S$ equivalent of remittance amount

  • Minimum fees: S$10
  • Maximum fees: S$120
S$5 for remittance up to S$5000
S$10 for remittance up to S$25,000
S$35 for remittance above S$25,000

Please note that additional agent bank charges may apply.

Take a look at a complete list of DBS’s exchange rates

DBS FX watch feature

Take advantage of the newly introduced FX watch function from DBS if you don’t need to transfer funds urgently. This feature allows you to set your desired exchange rate, the amount you wish to remit, and when the funds need to be sent. Once the conditions are met, the system will automatically make the transfer for you. To use the FX watch feature, you’ll need to remit a minimum of S$1,000.

Maximum transfer amount

DBS enables you to make online transactions and transfer funds to personal accounts through its Internet banking service. You can transfer up to S$200,000 daily to all countries, except Indonesia, via mobile or iBanking. For transfers to Indonesia, the daily transfer limit is capped at S$40,000.

If you need to make a transfer that is more than the limit cap, head down to a branch to facilitate the transfer. Bear in mind that while you can transfer up to your available account balance, you will have to pay for the cable/telex charges and handling commission.

Registration and transfer process

Access to DBS overseas money transfer services requires an online Internet banking account. You’ll also obtain an online security token, from either the DBS branches or by mail if you’ve registered online. Follow these steps to facilitate an overseas bank transfer:

  • 1. Log into your Digibank account
  • 2. Click on “Transfer → DBS Remit and Overseas Transfer”
  • 3. Select the country and the currency for transfer
  • 4. Enter remittance amount
  • 5. To use the FX watch function, check “FX Watch”, enter your desired FX rate and when you need the funds. Note: You need to remit a minimum of S$1,000 to utilise this feature

You will need your recipient’s name, address, bank details (SWIFT/BSB/sort/IFSC code if any) and account number/IBAN. Other details such as a valid transfer reason and registered phone number may be necessary for transfers in some currencies.

Why choose DBS overseas funds transfer?

  • Secure. DBS views security as its top priority, ensuring that your details and funds are secure during online transactions. Once you register for online banking, you’ll obtain a security token that gives an added layered of security for all your transactions. DBS also offers you the best encryption available today to ensure your personal details are safe.
  • Wide coverage. DBS offers convenient access and fund transfers to over 150 countries in more than 20 currencies.
  • Mobile banking. This service allows you to make payments, transfer funds and manage your account directly from your mobile.

What other products and services does DBS offer?

  • DBS corporate banking. A service designed to help businesses that trade internationally to maximise overseas opportunities. DBS provides an extensive range of business accounts, such as the corporate multi-currency account and RMB trade settlement account, to help your business operate smoothly and manage cash flow effortlessly.
  • Financial planning. DBS provides a wide range of financial planning services, such as personalised strategies to help you sustain your family’s financial future, manage your investment portfolios and assist you in retirement preparation.
  • Financial assistance. DBS provides a broad selection of financing options such as car loans, home loans, personal and business term loans.

What are the pros and cons of using DBS?


  • Existing bank. There’s no need to register for a new account with another international money transfer service. Simply log into DBS Internet or mobile banking, or visit a branch to make a transfer.
  • Instant transfers. With DBS remit, you can make instant, fee-free fund transfers to the following selected countries: India, Philippines, Malaysia, Indonesia, China, Hong Kong, UK, Australia, USA and Eurozone countries. You can view the complete list of Eurozone countries here.
  • Multi-currency account. If you are in constant need of different foreign currencies, you can take advantage of the DBS multi-currency account that allows you to hold up to 12 foreign currencies and Singapore dollars with one account.
  • High limits. The maximum overseas transfer limit is S$200,000 per day.



Best efforts will be made to cancel or amend transfers but it’s not always possible. If successful, those actions will incur S$35 and S$30 per transaction respectively.

This code is required for any incoming fund transfers to your Singapore DBS account from international bank accounts.

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