Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Review: OCBC overseas transfer

Learn more about using OCBC to transfer funds internationally, including the fees and how fast to expect.

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

OCBC bank (Oversea-Chinese Banking Corporation Limited) is the oldest established Singapore bank and the second largest financial services group in Southeast Asia by assets, with operations in over 18 countries. If you need to transfer money overseas, OCBC offers a product for this.

Why should I consider OCBC?

  • No cable and commission fees. Enjoy fee-free overseas fund transfer conducted through OCBC digital banking.
  • Secure money transfer. Once you register for online banking, you’ll obtain a security device that provides an added layer of security for all your transactions.
  • Mobile banking. OCBC mobile banking app allows you to transfer funds, make payments and manage your account directly from your mobile device.
  • Existing bank. Existing OCBC customers can conduct a transfer conveniently without having to register for a new account with another international money transfer service.
  • Transfer limits. The maximum overseas transfer limit is S$100,000 per day. If you’re a premier account holder, you can send up to S$200,000 daily.

What to look out for?

  • High margin. Unlike specialised money transfer providers, banks in Singapore, including OCBC, typically add a high margin on the interbank exchange rate.

OCBC overseas funds transfer fees

OCBC charges S$0 cable and commission fees when transferring money overseas. Agent fees, if any, will still be charged.

OCBC foreign exchange rates

OCBC offers money transfers in 18 currencies with competitive exchange rates. However, many specialist money transfer providers tend to provide better exchange rates compared to banks, so be sure to make a thorough comparison before committing to a service.

OCBC’s currencies and exchange rates

How long does an OCBC money transfer take?

Transfer speed varies between few hours to 4 business days, depending on the country and beneficiary bank to which payment is made.

What do I need to send money online through OCBC?

Before you begin an overseas bank transfer, follow these simple steps to add your beneficiary details:

  • Prepare details of your beneficiary, such as recipient name, IBAN, address and contact number.
  • Set up the beneficiary details via OCBC online banking.

Other payment details such as a valid transfer reason and registered phone number may be necessary for transfers in some currencies.

How to send an overseas fund transfer with OCBC

Access to OCBC international money transfer services requires that you register for an online Internet banking account. You’ll also obtain an online security device from either an OCBC branch or by mail if you registered online.

Once you’ve set up your beneficiary details, follow these steps to facilitate the transfer:

  1. Log into mobile banking.
  2. Click on the menu bar on the top left of the screen.
  3. Select “Transfer funds”.
  4. Select “Overseas”.
  5. Select the funding account, beneficiary account, remitting currency, and enter transfer amount before you “Slide to Submit”.
  6. Follow the mobile banking instructions to complete the overseas funds transfer.

Is there an OCBC app?


Yes, OCBC has an app on both Google Play and the App Store. The app makes it possible to do the following:

  • On-the-go banking. Manage your account, cards, personal details and other services conveniently.
  • Funds transfer. Conduct both local and overseas funds transfer at real-time competitive FX rates.
  • Personalised insights. Stay on top of your finances with Money In$ights and overview for all your accounts (even those across other banks and government institutions).
Ratings accurate as of March 22, 2021
Google Play Store3.3 out of 5, based on 13,003 customer ratings
Apple App Store3.0 out of 5, 830 customer ratings

More on the best money transfer apps

Bottom line

OCBC overseas money transfer provides a secure and convenient way to send money in 18 currencies through its digital banking services, without any cable or commission fees (agent fees will still be charged if applicable).

However, always compare other options as OCBC bank typically add a higher margin on the interbank rates, so your transfer may still be more expensive even through transfer fees are waived.

Compare OCBC to other money transfer providers

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
SGD 0 Same day SGD 4.99 0.694 USD
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
1 day SGD 0.00 0.699 USD
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Go to site Show details
SGD 250 1 day SGD 0.00 0.699 USD
Send guarantees to match any competitor's exchange rate. T&Cs apply.
Send has fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
SGD 1 1 - 2 days SGD 45.00 0.702 USD
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
SGD 5 1 - 2 days SGD 3.00 0.698 USD
Special offer: New customers get unlimited fee-free transfers for their first 3 months. T&Cs apply.
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
SGD 1 1 day SGD 43.00 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 can help you send money across the world.
Go to site Show details
SGD 200 Within an hour SGD 50.00 0.696 USD
Use code Use code FINDER to access the S$500 discount. to access the $250 discount.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
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.

Frequently asked questions

You may be interested in

iRemit international money transfers review

iRemit international money transfers review

Make simple and small transfers to the Philippines through the IREMITX app.

Read more…
Travelex promo codes and discounts October 2022

Travelex promo codes and discounts October 2022

Find the latest Travelex promo codes to spend less on your travel money and money transfers.

Read more…
Western Union vs. MoneyGram

Western Union vs. MoneyGram

We put MoneyGram and Western Union side by side to help you make a decision for your next local or international payment.

Read more…

More guides on Finder

Ask Finder

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site