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:
  1. 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.

  2. 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.)

  3. Competitive exchange rates.
    Our competitive exchange rates make it more affordable to transfer money overseas.
With the digibank App by DBS, you can transfer funds to more than 20 countries and 7 foreign currencies. (Normal fees apply.)
 

How To Video

 

What you need to know

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:

  1. 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.

  2. 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.


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

 

 

 

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.


  1. 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

  2. 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


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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