Remittance

Remittance

Most competitive forex rates, absolutely paperless, same day transfer, zero fees

Remittance

Download digibank Now

 

A Lot More Love, A Lot Less Trouble

No distance is too far to keep you from your loved ones. Keep love and life undelayed with digibank's effortless international fund transfers.

Effortlessly Easy

Sending love to those that matter is now easier than ever, with a little help from digibank Remit.

Paperless

Same Day Transfers*

Zero Fees

More Room for Love

More love, more savings. Bridge the distance between you and your loved ones, with no extra or hidden costs and rates that’ll make you smile.

100% Credit to Recipient

Competitive
Rates

Remittance is best with digibank’s most competitive FX rates.

Here’s how you can save more than INR 4800* when you send 5000 USD.

 

digibank by DBS

Leading Indian Pvt Bank

Amount to send (USD)70007000
Conversion Rate76.9077.60
Total without Bank Fees538300543200
Bank Fees01000
Total538300544200
Savings59000

**Conversion value taken as of 22nd Feb, 2022 from leading Indian private banks.
***Conversion value taken as on 22nd Feb, 2022 in digibank app

Whatever be the reason, you can count on digibank Remit!

Whatever your purpose for international fund transfers is, digibank Remit is made for you.


Overseas Education
& SustenanceJumpstart your child’s dream and ensure they’re settling in just fine with the perfect bank remittance

International
GiftingMake a special moment even more magical, by sending your love instantly, from miles away!

Care for Family AbroadAway, but never apart. Give your family the best of everything with quick, effortless outward remittance.

TravelMake the world your oyster, travel worry-free across more than 40 countries while digibank Remit takes care of your foreign remittance.

 

What Makes digibank the Perfect Remittance Partner?

Entirely DigitalLove is simple, so is remittance. Choose a partner that doesn't swamp you with paperwork, a laundry list of tasks or running around.

Instant TransactionWhy should love be delayed? Make instant international transfers without any wait period.


Complete Fund CreditDon't settle for hidden costs, cutting corners and extra charges.

Higher Transfer LimitsThere's no limit on love. Opt for remittance partners that offer high transaction limits.

Wider Global NetworkYou should be able to send your love, no matter how far away they are from you.

Stay a Step Ahead of the Curve

Source: Publicly available information available on websites as of 04.05.2020

Money Saved, Love Grown

Here's how much money you get to save per semester with digibank Remit!

Digi RemittanceTable

Simple, Safe, Delightful
- just how life should be!

Singapore's
Finest Bank

Asia's
Safest Bank

World's
Best Bank

Worried about the safety of your overseas money transfer? Your money and love are secure with us. digiPromise!

 

That's What They Said

Wherever You Are, We’re There For You.

Transfers so quick, so easy, so effortless, you’ll wish we could transport you to your loved ones too!

  1. Digi Remit is available only for Indian resident only.
  2. The maximum transaction limit is USD 25,000/day, maximum transaction limit per Financial Year is USD 2,50,000
  3. Same day transfer holds true only when transaction is initiated before the cut off time (before 11:30 AM)
  4. We guarantee full credit to the payee. Some banks may charge additional bank fee on incoming remittance on their discretion.
  5. In case of transaction rejection/fund reversal, GST & TCS charged is not refunded. You can claim the refund from ITR.
  6. Saturdays, Sundays & Maharashtra Bank Holidays are non-working days for foreign exchange transactions

Cut-Off Time

Gone are days of stressfully marking days off the calendar until your money reaches another country. Simplify life for your loved ones abroad, no matter how far you are, with same day transfers, made possible by digibank. All you have to do is make a transfer before the cut-off time. In case a transfer is made after the cut-off time, the credit will happen on the next day.

Here are the cut-off times for the following countries:

CountryIN (IST) Time for same day transfer
USA (in USD)11:30 AM
Australia (in AUD)9:00 AM
UK (in GBP)11:30 AM
Eurozone (in EUR)11:30 AM
Hong Kong (in HKD)11:30 AM
Singapore (in SGD)11:30 AM
Canada (CAD)11:30 AM

Bank Fee

Country/Currency

Bank Fee

1. USD to USA

2. GBP to United Kingdom

3. AUD to Australia

4. EUR to Eurozone

5. HKD to Hong Kong

6. SGD to Singapore

7. CAD to Canada

 

 

 

Rs. 0

Any other currency/country combination

Rs 500

Amount of currency exchanged (ACE)

GST Rates

< Rs 1 Lakh

0.18% of ACE

Rs 1,00,001- Rs 10 Lakh

Rs 180 + 0.09% of ACE

>Rs 10,00,001

Rs 990 + 0.018% of ACE

Remittance amount

Purpose of remittance

TCS rates

 

            < Rs 7 lakh

 

Any purpose codes other than “Travel”

Rs 0

Travel purpose code

5% of remittance amt from Rs 1

          

 

            > Rs 7 lakh

Any purpose code

5% of remittance amt above Rs 7 Lakh during financial year

Study abroad purpose code where source of funds is “Education Loan”

0.5% of remittance amt above Rs 7 Lakhs during a financial year

 

  • Account not having sufficient funds. Account should be funded with full amount of remittance including GST+ Bank Fee (if any)+ TCS (if applicable)
  • Amount of transaction exceeding USD 25,000 or equivalent 
  • In case the annual LRS limit of USD 250,000 has been utilized
  • Remittance made to your own account overseas under purpose code “Gift” (instead use “Maintenance of close relatives & savings")
  • 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
  • Capital account transactions (purpose of investments in equity/debt) is not permissible. Remittance to agent/broker for investments will be rejected.

To check the exact status of transaction, please drop a mail to customercareindia@dbs.com or call on 1860 208 7368

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How To Remit,
Unbank Style!

Log in to the digibank iBanking website

Click on Overseas Transfer

Click on Pay & Transfer

Not digibank user, but want in on the good stuff?

Download digibank

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Think That’s All?
There’s More Where That Came From!

Whether it’s smarter savings, better investments, easy personal loans, international fund transfers - your digibank is designed to help you live better. It’s so easy, it feels like magic!

digibank Personal Loan

Personal Loan

Fast-track your life with instant paperless digibank personal loans of up to Rs. 15 Lakhs.

Fixed Deposit

Fixed Deposit

Stay ready for every contingency and rainy days with fixed deposits at a higher interest rate.

Recurring Deposit

Recurring Deposit

Make goal-oriented savings effortlessly at a higher interest rate!

Insurance

Insurance

Through thick and thin, we’ve got you covered with health insurance plans for the family, automobile insurance and travel insurance.

digibank Invest

Investment

You don’t need to be a finance guru to make smart investment choices. You’ve got digibank to help you become your own expert.

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Frequently Asked Questions

Login to digibank ibanking and click on the 'Overseas Transfer' tab within 'Pay & transfer'. For adding new oversees payee, simply provide bank account details or 'Start a transfer' in case of already added payees. Once the payment request is successfully completed, a confirmation email/message will be sent to your registered mobile no. and email Id.

Once you log into digibank, oversees payee needs to be added before initiating an overseas payment. Basic details such as payee's full name, account number, bank details, etc. should be kept handy.

Ensure that you download and log into digibank at least once before you add a new overseas payee.

After the payee is set up, the newly added payee will be saved and you don't have to enter the details again during your next transfer.

You don't need any document for transferring money anywhere in the world with digibank. All required payment details and declaration are collected digitally during submission of the overseas transfer request on digibank ibanking. Please go through the terms and conditions 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.

In accordance with extant law / regulation in India, currently, remittances overseas are not allowed on mobile application. You will be able to initiate an overseas transfer from digibank ibanking page which can be opened on your mobile.

Money can be sent overseas for following purposes:

  • Maintenance of Family / Close Relatives Abroad
  • Education Abroad
  • Medical Treatment Abroad
  • Emigration
  • 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

  • In case the account does not having sufficient funds
  • In case amount of transaction exceeds USD 25000 or equivalent
  • In case the annual LRS limit of USD 250,000 has been utilized
  • In case the beneficiary country is not part of “Permitted Country List”
  • In case the beneficiary is not part of the “Permitted Beneficiary List”
  • In case remittance being sent to your own account overseas
  • In case incorrect or partial details of beneficiary / beneficiary’s bank has been provided
  • In case of unauthorised / non-permissible transactions not allowed as per RBI Regulations

The minimum limit per transaction for overseas transfer is of USD 10. The maximum transaction limit is USD 25,000 per transaction which is also the maximum daily transaction limit. The annual transaction amount limit is capped at 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 / Authorised Dealers Banks (subject to any purpose specific limit specified by Reserve Bank of India).

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