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What’s up World! digibank Transfer Valas
Same day transfer, free-of-charge and competitive FX rate.
What’s up World! digibank Transfer Valas
At a Glance
Free-of-charge to transfer USD, SGD, AUD, EUR, HKD, CAD, GBP to more than 20 countries.
Send and receive money in the same day.
Competitive exchange rate.
Access 24/7 through the digibank App.
Features & Benefits
Starting May 2019, foreign currency funds transfers can be done with the digibank App by DBS, and you get these benefits:- Free transfer fees for 7 currencies to more than 20+ countries.
No more worries about high charges to transfer money overseas. With the digibank App by DBS, you can send money to the US, Singapore, Australia, European countries, and many other countries without fees by using our Free Charge Foreign Currency Transfer Service.
- Funds received in the same day.
For funds transferred using our Free Charge Foreign Currency Transfer Service, the funds will be received on the same day! (Applies to business days only.)
- Competitive exchange rates.
Our competitive exchange rates make it more affordable to transfer money overseas.
How To Video
What you need to know
What is a foreign currency transfer?
A foreign currency transfer is a funds transfer service feature on the digibank App by DBS where a user can transfer funds from their Rupiah account in to other currencies to a recipient inside or outside the country. This foreign currency transfer service can be done in two ways:
- Free Charge Foreign Currency Transfer Service
A Free Charge Foreign Currency Transfer is a free same-day transfer service to other countries made by using DBS Indonesia’s internal system sent in the recipient country’s currency, such as: transferring AUD to Australia, SGD to Singapore, USD to the United States, etc.Countries
Currencies
Cutoff Times for same-day online transfers
Australia
AUD
09.30 WIB
Singapore
SGD
12.30 WIB
United Kingdom
GBP
13:30 WIB
Eurozone (France, German, Italia, Spain, etc.)
EUR
13:30 WIB
Hong Kong
HKD
14:30 WIB
Canada
CAD
16:00 WIB
United States
USD
16:00 WIB
For more information, please go to Currencies and Cutoff Times for Overseas Transfers.
- Regular Foreign Currency Transfer Service
A Regular Foreign Currency Transfer is a foreign currency transfer service using the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system. SWIFT is an international banking system used to send and receive information of monetary transactions with trusted international safety standards. SWIFT can be used to transfer funds to another country in a different foreign currency that does not get covered by using DBS Remittance, such as: transferring USD to Australia, CNY to Singapore, CNY to Japan, etc. This system covers many currencies like: CNY, USD, SGD, JPY, THB, HKD, AUD, NZD, EUR, GBP, SEK, CHF, CAD, etc.
For more information, please go to Currencies and Cutoff Times for Overseas Transfers.
Fees and limits for foreign exchange transfers:
A service fee may be charged to users who initiate an overseas funds transfer which is based on the service they use to make the transaction:
FEE | Free Charge Service | Regular Service |
Transfer Fee | ||
Service Charge | Free | USD 10 equivalent |
Bank Agent Charge | Free | Min. USD 25 equivalent |
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Change Charges | ||
Change Charge | USD 15 equivalent | USD 15 equivalent |
Refund Charge | Determined by the recipient’s bank | Determined by the recipient’s bank |
LIMIT | Minimum per transaction | Maximum per transaction | Maximum per month |
Foreign Currency Transfer | Rp 100,000 equivalent | USD 25.000 equivalent | USD 25.000 equivalent |
Fees may change with prior notice to users. (Terms and conditions may apply.)
To avoid refunds by the recipient bank, please make sure your data is correct.
Currencies and Cutoff Times for Overseas Transfers
- Free Charge Foreign Currency Transfer Service (Processing Cutoff Times is at 17.00 WIB.)
Countries
Currencies
Transferring Cutoff Times
Australia
AUD
9.30 AM
Singapore
SGD
12.30 PM
United Kingdom
GBP
01:30 PM
Eurozone (France, German, Italia, Spain, etc)
EUR
01:30 PM
Hong Kong
HKD
02:30 PM
Canada
CAD
04:00 PM
United States
USD
04:00 PM
Transaction submitted time
Sending process
Receiving time
Fund debit time
Before the currency’s Cutoff Times
Same day
Same day
Funds will be debited directly
After the currency’s Cutoff Times and still in processing time
Same day
Next working day
Funds will be debited directly
After the processing Cutoff Times
Next working day
Next working day
Funds will be held in our system and transfer will be done on the next working day
Recipient’s Country Public Holidays
Next working day
Next working day
Funds will be held in our system and transfer will be done on the next working day
Indonesian Public Holidays
Next working day
Next working day
Funds will be held in our system and transfer will be completed on the next working day
- Regular Foreign Currency Transfer Service (Processing Cutoff Times is at 17.00 WIB.)
Transaction submitted time
Sending process
Receiving process
Fund debit time
Before processing Cutoff Times
Same day
1-3 working days
Funds will be debited directly
After processing Cutoff Times
Next working day
2-4 working days
Funds will be held in our system and transfer will be done on the next working day
Recipient’s country’s Public Holidays
Next working day
2-4 working days
Funds will be held in our system and transfer will be done on the next working day
Indonesia’s Public Holidays
Next working day
2-4 working days
Funds will be held in our system and transfer will be done on the next working day
Terms & Conditions
Monthly Currency Transfer Limits
Bank limits of foreign currency conversion/buying to Rupiah, which can be done using the digibank App by DBS, is the amount of USD 25,000 equivalent per month, per user. This amount includes transactions across all channels owned by the Bank to perform foreign currency transactions (e.g.: banking branches, digibank App by DBS, etc).
Fixes and Transaction Corrections
Foreign currency transfers that have been sent cannot be canceled or changed, except if there is a refund from the recipient’s bank due to a suspicious transaction. In the event that suspicious activity has been detected, the bank will contact the user to confirm the transaction. In the event that a user cannot be reached in a certain period of time, or if the user gives instruction to cancel the transaction, the bank will refund the funds to the user’s account using the exchange rate at the time of refund processing Transfer fees that have been charged are non-refundable, and users will be charged a certain amount based on the regulation of the recipient’s bank. Based on the maintenance instruction, users will be charged changing fees as stated on the fee chart.
User Verification
The bank shall contact users to make verification if needed based on their foreign currency transaction. If users can not be reached by the bank, or if users decline to submit information needed by the bank, the bank will not proceed the foreign currency transaction.
Obligation of Rupiah Use in Indonesia
Based on the order of Bank Indonesia about The Obligation to Use Rupiah Currency in the Republic of Indonesia, all monetary transactions in Indonesian territory must be done in Rupiah. In the event that the user must make a foreign currency transaction, the user must inform at the point of transaction that has to be done in another currency.
Risks
- The refund process of a transaction cancellation due to a mistake on giving instructions on digibank App by DBS or over a phone call, will be done on the exchange rate at the time that the refund process is happening. The recipient’s bank or agent will apply charges for the refund, therefore the amount of the funds will be subtracted.
- There is a possibility of additional charges applied from correspondence fee of the recipient’s agent/bank, therefore the sender’s bank will re-debit the additional charges.
- Transfers will be canceled if the user fails to make a verification during the verification process by phone that is initiated by the bank, therefore bank will make a refund process of the canceled transaction.
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