UOB Overseas Funds Transfer Review
Enjoy a plethora of financial services and transfer funds internationally with UOB overseas funds transfer
Founded in 1935, UOB (United Overseas Bank Limited) is a multinational banking organisation based in Singapore, with branches in most Southeast Asian countries. UOB provides a myriad of services ranging from personal financial, private and corporate banking, asset management and more. With an extensive global network spanning 19 countries, UOB is a leading bank and is also one of the most trusted in Asia. If you need to transfer money overseas, UOB can facilitate the transfer conveniently and securely.
Initiate a money transfer with UOB using an account below
UOB overseas money transfer provides a secure and convenient way to send money to any bank account within Singapore or overseas through Internet banking services. With UOB personal or business Internet banking, you can conveniently remit from the comfort of your home or at any local UOB branch. Also, you can access all major currencies and save money on international remittance with UOB competitive transfer rates.
UOB’s SWIFT code is UOVBSGSG.
Compare UOB to other money transfer providers
How much does it cost to transfer money with UOB outward remittance?
UOB money transfers enable you to send payments to any part of the world in over 100 currencies conveniently via Internet banking or at any of its branches. Transferring via personal Internet banking will cost you 1/16% (minimum S$10 to a maximum of S$100), along with cable charges and agent charges, if any. For transfers via branches or call centre, it’ll cost you 1/8% (minimum S$10 to a maximum of S$100), along with cable charges and agent charges, if any.
Compared to other banks such as DBS and OCBC, and specialised money transfer providers, making an overseas transfer via UOB may be a pricier option. If you’re unsure about which transfer option to use, check out our guide to finding the best international money transfer services.
Registration and transfer process
Access to UOB international money transfer services requires that you register for a personal Internet banking account. You’ll also obtain a SecurePlus token from either a UOB branch or by mail if you registered online. Here are the steps you need to follow to facilitate an overseas bank transfer:
- Log into your UOB personal Internet banking account.
- Select “Pay and Transfer – Overseas Transfer”.
- Either select an existing beneficiary or add a new beneficiary.
- Enter remittance amount.
There is also an interactive demo for UOB personal Internet banking which will provide some visual guidance. Check it out here.
You will need your recipient’s name, address, bank details (SWIFT/BSB/sort/IFSC code if any) and account number/IBAN. Other payment details such as a valid transfer reason and registered phone number may be necessary for transfers in some currencies.
Why choose UOB overseas funds transfer?
- High security. UOB views security as its top priority, ensuring that your details and funds are safe while making online transfers. Once you register for a personal Internet banking account, you’ll obtain a SecurePlus token which provides an added layer of security for all your transactions. UOB also offers you the best and up-to-date encryption available to ensure that your personal details are safe.
- Extensive global network. UOB offers you a convenient way to access and transfer your funds worldwide in over 100 currencies.
- Convenience. Enjoy the convenience of remitting from the comfort of your home or from any UOB Group branch in Singapore.
What are the pros and cons of using UOB?
- Existing bank. There’s no need to register for a new account with another international money transfer service. Simply log into your UOB personal Internet banking account, make a call to the call centre, or visit a branch to make a transfer.
- Global currency account. If you are in constant need of different foreign currencies, you can benefit from the UOB global currency account that allows you to hold 10 major foreign currencies and Singapore dollar in one account.
- Fees. There is no fee waiver for overseas fund transfer at UOB. With all modes of transfer, regardless of whether it is via Internet banking, call centre or branch, you will have to pay a percentage of your transfer amount for handling commission (minimum S$10 to a maximum of S$100), along with cable charges and agent charges, if any.
- Minimum transaction amount (applicable to Indian Rupees and Philippine Peso only). All outgoing TT transactions in INR and PHP are subjected to a minimum amount of S$200 or equivalent.
Frequently asked questions
Cancellation and transfer amendments are provided on a best effort basis and will incur an S$10 fee along with cable charges and correspondent banks’ charges, if any.
This code is required for any incoming fund transfers to your Singapore UOB account from international bank accounts.
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