Understand the process of a wire transfer and what makes it safe
When you want to send money abroad, be it to support your child studying abroad or to family residing there, you want to use a safe and reliable method to do so. One of the more popular methods of money transfer is wire transfer. But is wire transfer safe? Will your money reach your child or relative in time and in full?
This article will walk you through the process of an international wire transfer to set your mind at ease.
Let’s say you want to transfer money to your son’s bank account to pay for his off-campus accommodation. You want to do a wire transfer.
You will have to pay a fee for the service. However, the amount will depend on the route the transaction takes, and the terms and conditions of the financial institutions involved.
DBS Bank makes international wire transfers more manageable and safer for you. Please take a look at how DBS Bank makes it happen.
Using DBS Bank ensures all your transactions are processed through a secured network. You don’t have to worry about the privacy or security of your data or account.
Many currencies and country combinations from DBS Bank come with a zero-fee policy. This means that your child receives 100% of what you send as the bank doesn’t charge any fee.
You don’t have to fret over the dynamic currency exchange rates as DBS Bank offers the most preferential rates.
Did your son forget to tell you about the rent that is due tomorrow? No worries. As long as you make the cut-off time for same-day wire transfer, your son will receive his rent money within the same business day!
The entire international wire transfer is digital. There is no tedious gathering and submission of forms or other documents. Sit back on your couch, and with a few taps on the laptop screen, your wire transfer will be done.
DBS Bank collaborates with remittance partners who offer higher transaction limits. This way, you don’t have to send the money in multiple tranches. You can seamlessly send it at one-go.
Is wiring money safe? Yes, it is – secure, fast and paperless. Download digibank by DBS to effortlessly send money to your loved one with 100% confidence.