Payments

Telegraphic Transfer

Make international transfers in a wide range of currencies quickly

Make international fund transfers quickly and conveniently with DBS outward Telegraphic Transfer (OTT). Through this service, you can transfer money in a wide range of currencies all over the world. Your beneficiaries receive funds between one to four working days, depending on the currency, destination and the agent or beneficiary banks.

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Why choose DBS Telegraphic Transfer?

  • Send money in more than 16 different currencies all over the world through our extensive network of correspondent banks and overseas branches
  • Benefit from our preferential pricing and competitive exchange rates by leveraging our vast regional network and our long-established relationships with international banks
  • Stay informed via IDEAL™ eReports, our instant SMS and email alerts that notify you when the funds have been credited to your account
  • Ensure your banking needs are met with our dedicated team of relationship managers
  • Ensure your beneficiaries receive funds quickly with our advanced and intelligent system that optimises payment routing to speed up the process

FAQs

What information is required to send an Outward Telegraphic Transfer (OTT)?

To ensure that your application is processed efficiently, please provide the following information:

  • Your name, address and debit bank account number
  • Payment currency and amount
  • Beneficiary name
  • Beneficiary account number or IBAN for payments to Europe and the UAE
  • Beneficiary bank’s SWIFT code (BIC code)
  • Beneficiary bank's name and address
  • Details of the intermediary bank, if any
Who are DBS Agent Banks?
We use different Agent Banks depending on the remittance currency. Please refer to our Agent Bank List for more details.

 

What is the cut-off time for making an OTT?

The cut-off time is 2pm on a working day for same day processing. Applications made after the cut-off time will be processed the next working day.

How fast will DBS send the payment to the beneficiary?

Payment instructions received before 2pm will be processed on the same day and sent to the beneficiary bank. Please note the beneficiary bank will need to process the payment received and the time they receive your payment may vary in different countries.

When will my beneficiary receive payment?

Generally, the beneficiary should receive the funds within one to four working days. However, this may vary depending on the country or the bank to which you are sending the money to.

Can DBS check whether the beneficiary has received the funds?

Yes, we can send an enquiry to the overseas bank to check whether the payment has been made. However, there is a fee charged for this.

I need the beneficiary to receive the full amount I send. How do I ensure this happens?

Simply select “We pay all bank charges/agent charges: Ourselves” during the application in order to ensure all processing fees are charged to your account. However, in some cases a payment may not be credited in full as the beneficiary bank may still levy a charge or fee for receiving the funds.

How do I get more information?

Please call any of our Branches if you need more information and we’ll arrange for a Relationship Manager to assist you.

 

How do I apply?

Submit your application through IDEAL™, our online banking platform, for faster processing and an extended cut-off time. Alternatively, you may submit your applications via fax (if you have signed the fax indemnity agreement) or at any of our Branches.