Transfer money overseas with digibank Remit
When you’re transferring money to your loved ones abroad, you also transfer joy.
With digibank Remit, you can now transfer money across 40 countries, including USA, UK, Australia and Singapore at zero fees. What’s more? It’s quick & paperless with same day transfers.
Key benefits of online overseas transfer:
Same day delivery
Your money will be delivered on the same day if transfer initiated before cut-off time
We will not charge you any fees. No fees imposed on your recipient either
Preferential Exchange Rates
Guaranteed delivery of full credit to your recipient in following corridors
- Sending USD to USA
- Sending GBP to the United Kingdom
- Sending AUD to Australia
- Sending EUR to the Eurozone
- Sending SGD to Singapore
- Sending CAD to Canada
Cut off time
For the countries listed below, initiate transfer successfully before the cut-off time and your money will reach your recipient within the same day. If your transfer was funded after the cut-off time, your money will reach the recipient on the next working day (from the time your transfer was initiated).
|Country||IN (IST) Time for same day transfer|
|USA (in USD)||2:00 PM|
|Australia (in AUD)||9:00 AM|
|UK (in GBP)||2:00 PM|
|Eurozone (in EUR)||2:00 PM|
|Hong Kong (in HKD)||1:30 PM|
|Singapore (in SGD)||2:00 PM|
|Canada (CAD)||2:00 PM|
For all other countries or if your transfer to the above countries is in a non-local currency, your transfer will reach the recipient within 1-3 working days from the time your transfer was initiated successfully before cut-off time.
*Fees and Charges
For the following currency and country combinations, there are no fees charged by DBS:
|Currency and Country||Bank Fee||Agent Fees||GST|
|Free||Not applicable||As applicable from time to time, will also be applied to your transaction|
|Any other currency / country combination||INR 500||Agent fees, if applicable, will be charged|
|Amount of Currency Exchanged (ACE)||GST rates||Minimum GST||Maximum GST|
|Upto Rs. 1 lakh||0.18% of ACE||Rs. 45||Rs. 180|
|Between Rs. 1 lakh and up to Rs. 10 lakh||INR 180 + 0.09% of ACE||Rs. 180||Rs. 990|
|Above Rs. 10 lakh||INR 990 + 0.018% of ACE||Rs. 990||Rs. 10,800|
Our product benefits have got your attention, right? Now click here to view the Demo Video to get you started.
Frequently Asked Questions
Login to your digibank Internet Banking and click on 'Overseas Transfer' tab under 'Pay & transfer'. You need to add new overseas payee by providing bank account details or 'Start a transfer' if your payees are already added. You will receive confirmation on successful processing of the payment request on your registered mobile no. and email Id.
Post login to digibank application, you will be required to add new overseas payee before initiating an overseas payment. Please keep required details handy like payee full name, account no., bank details etc. to add overseas payee.
Please ensure that you have downloaded and logged into digi app at least once before adding a new overseas payee.
Once the payee is set up, your newly added payee will be saved so that you don’t need to enter them all over again in your next transfer.
Currently, remittances overseas are not permitted on mobile application in accordance with extant law/regulation in India. You will be able to initiate an overseas transfer from digibank Internet Banking page which can be opened on your mobile.
There are no documents required for transferring funds overseas as required payment details and declaration are collected digitally while submission of the overseas transfer request on digibank Internet Banking. Please go through the Terms & Conditions (T&C) and FEMA declaration that are provided on our website. You will have to agree and confirm applicable T&C and declaration before transaction submission and by virtue of you accepting these, it would be deemed that you agree to these.
What type of transactions / under what purpose can an overseas transfer be initiated on digibank Internet Banking?
Money can be sent overseas for following purposes:
- Maintenance of Family / Close Relatives Abroad
- Education Abroad
- Medical Treatment Abroad
- Other Travel (Including holiday trips & settlement of international credit card transactions)
- Business Travel
- Travel for Education (including fees, hostel expenses etc.)
- Travel for Medical Treatment
- Travel for Pilgrimage
- Gifts / Donation
- Account not having sufficient funds
- Amount of transaction exceeding USD 25000 or equivalent
- In case the annual LRS limit of USD 250,000 has been utilized
- If beneficiary country is not part of “Permitted Country List”
- If the beneficiary is not part of the “Permitted Beneficiary List”
- Remittance being sent to your own account overseas
- If incorrect or partial details of beneficiary / beneficiary’s bank has been provided
- In case of unauthorized / non-permissible transactions not allowed as per RBI Regulations
There is minimum limit of USD 10 per transaction. The maximum transaction limit for overseas transfer is USD 25,000 per transaction which is also the maximum daily transaction limit. The annual transaction limit is USD 250,000 or equivalent.
The maximum limit of USD 250,000 or equivalent per year for transferring money abroad under Liberalized Remittance Scheme (LRS) is applicable for a customer for all transactions routed through all permissible channels / Authorized Dealers Banks (subject to any purpose specific limit specified by Reserve Bank of India).
How to Use digibank remittance services
For digibank users
- Using the digibank ibanking website
- Log in and click on "Overseas Transfer" tab under "Pay & Transfer"
New to digibank?
- Download the App and sign up for a full savings account.
- Then login to your digibank Internet Banking website