What are included in the free of charge and same-day services?
Free of charge transfers apply for shipping to the following currencies:
United States (USD) Singapore (SGD) Australia (AUD) Eurozone Countries (EUR) Canada (CAD) Hong Kong (HKD) United Kingdom (GBP) For the combination of currencies above, funds can be received on the same day (same-day) as long as the funds are sent before the Cutoff Times for Currency Transfers.
Some recipient banks may charge fees for Foreign Currency receipts in accordance with the provisions of each bank.
Can I send funds to countries other than the above 20+ countries?
You can send funds to 80+ other countries via digibank App by DBS outside of the Free of Charge Remittance service. Normal fees and processes (not same-day) will apply for this regular channel.
Why do I have to pay fees again after an international transfer is sent?
For Remittances with channel other than the Free of Charge Remittance service, the listed fees for correspondent bank are the minimum amount. So, if there are differences in fees charged by a correspondent bank, the payment is adjusted according to your previous payment choice.
How does a fund receiver pay the international transfer fee?
Please provide the account number, SWIFT code / clearing code, and address to the person who wants to send funds to your digibank account. However, each bank may require different data. So, please confirm to the sender first, yeah?
Why is international transfer refund reduced from the funds that I sent?
Refund of Remittance may differ from the amount debited at delivery due to Foreign Currency differences used when the return was made.
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If the transferred amount is more than USD 100,000, can I not make Remittances?
Remittance transactions that have exceeded USD 100,000 eqv can be carried out at DBS bank branches by submitting supporting documents. You can also make transfers according to the limit first, and then make the remaining transfers in the following month via digibank Remittance.
What data must I prepare to make Remittance?
Recipient's name, recipient bank, recipient's account number, the desired amount to be received. Also, please remember that you are not allowed to revise/cancel the transaction later on, once a transfer is made.What goes into the Eurozone?
Countries included in the Eurozone are countries that use the Euro (EUR) currency for domestic transactions. These countries include France, Germany, the Netherlands, Belgium, Spain, Italy, and several other European countries
What is the difference between sending money with a SWIFT and IBAN code?
The use of the International Bank Account Number (IBAN) or the Society for Worldwide Interbank Financial Telecommunication (SWIFT) depends on the destination country of overseas transfers.
What is a correspondent bank?
Correspondent bank is a bank that has cooperation with other banks to provide mutual services and/or transactions for and on behalf of the concerned banks.
So, the correspondent bank is the one that helps send your funds to your friends or family accounts overseas.
What is IBAN?
IBAN or International Bank Account Number is the numbering standard for bank accounts and is usually used in European countries.
You can get this code directly from the bank to which you are transferring internationally or have the transfer recipient to provide it.
What is SWIFT Code?
The SWIFT code is used to identify banks in the world that are members of the Society for Worldwide Interbank Financial Telecommunication. Another name for this code is the Bank Identifier Code (BIC) and consists of 8 to 11 characters.
You can search for the SWIFT code needed to transfer overseas by clicking "Search SWIFT Code" displayed on the screen when filling in the recipient's transfer details.
What is clearing code?
Clearing code is an international identification number for certain banks outside of SWIFT & IBAN codes.
You can get this code directly from the bank to which you are transferring internationally or have the transfer recipient to provide it.
This information is optional and serves as additional information to the recipient bank. If you do not know it, this field may be left blank.
What is LLD code?
LLD (Foreign Currency Traffic) is the transaction destination code required by the regulation for transactions bigger than USD 10,000.00 (ten thousand United States dollars) or equivalent to that, and for transactions with a value up to USD 10,000.00 (ten thousand dollars United States) or equivalent to that.
What is meant by civil status?
Civil status is the status of the customer according to the country of residence. This status is divided into resident and non-resident. In overseas transfers, the recipient of the funds is determined to be an Indonesian resident if:
The recipient is an individuals, a legal entity, or other entities domiciled or planning to domicile in Indonesia for a minimum of one (1) year; The recipient is an Indonesian citizen residing in Indonesia; The recipient is a foreign national who comes, works, and has permission to settle in Indonesia. But does not do state duties. The recipient is an Indonesian citizen living overseas. What is meant by the Free of Charge Remittances?
Digibank Free of Charge Remittance is an overseas transfer service for several foreign currencies, using internal system of Indonesian DBS Bank to the country that owns the currency. For example, sending Australian dollars to Australia, Singapore dollars to Singapore, and others.
Transfer with digibank's Free of Charge Remittances can be done up to a maximum of 24 hours on weekdays.
Some recipient banks may charge fees for Foreign Currency receipts in accordance with the provisions of each bank.
You will see the Remit logo next to the names of recipient countries that can use this service.
The monthly Remittance limit on the digibank App by DBS is at a maximum of USD 100,000 (BI middle rate). If the transaction exceeds the monthly Remittance limit, the transaction cannot be continued.
What is the daily Remittance limit?
The daily Remittance limit in digibank App by DBS is the maximum Remittance limit perday. If your transaction is more than the default limit (USD 25,000), you can make the canges on your profile page located in the main menu of the application and select the daily Remittance limit to charge.
Can I transfer funds overseas?
Please use your digibank App by DBS to transfer funds overseas. Click "Remittance" and just follow the steps listed on the screen.
Why can't I use account of foreign currency for international transfers?
At this time, you can only make Remittances with a primary account in Rupiah.
How do I check the status of international transfers?
You can check the status of Remittances in the following ways:
Enter the red main menu located in the upper left corner of your digibank App by DBS; Select the "Transaction" option and click "Remittance" Press "Transaction History" that appears on the screen In addition, you can also check the delivery status via a notification sent to your registered email.
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What if international transfer fails?
If the status of an overseas transfer fails, the Bank will return the funds that have been processed to your account at the prevailing exchange rate when the return is made. Overseas transfers may fail for various reasons, including:
Incomplete or faulty details of recipient data No additional information is needed from the sender. What if the SWIFT code is not found?
If you experience this, make sure the bank and bank code selected in digibank App by DBS are in accordance with the bank you are aiming for. Don't forget to check with the recipient to get the required shipping details.
Can Foreign Currency rates change during shipment?
The exchange rate for Remittances uses the exchange rate listed in your digibank App by DBS when the shipment is processed. So, the exchange rate can indeed vary but will not change when the funds are sent.
Can I cancel Foreign Currency transactions?
Hmm, at this time, transactions that have been authenticated through the two channels cannot be cancelled, including for overseas transactions.
Why am I being called by the Bank after conducting Foreign Currency transaction?
If we need additional information regarding the transfer transaction, you will be contacted within a maximum of 3 working days to the mobile number listed on the digibank App by DBS.
Why is my Free of Charge Remittances transaction processed on the Next business day?
If you make a Remittance transaction after the Processing Cutoff Times , we will process your transaction on the next business day.
Why is my Remittance transaction being charged?
You can indeed enjoy free transfer transactions in USD, SGD, AUD, EUR, HKD, CAD, GBP to more than 20 destination (United States, Singapore, Australia, Hong Kong, United Kingdom, Canada, and Eurozone countries), but some recipient banks may charge fees for receiving foreign currencies in accordance with the provisions of each bank. If you make a Remittance outside of it or to a country outside of the above list, that means you are using a regular transfer channel. Don't worry, we will continue to improve our services.
Is the exchange rate used on digibank more competitive than transactions from branches?
The currency value (exchange rate) between digibank by DBS is more competitive than the one stated at the branch of DBS Bank Indonesia.
Is the transfer fee for the currency of digibank's Free of Charge Remittances more competitive than transactions at the branches?
If you use the Free of Charge Remittance service, you are free from admin and correspondent fees, but some recipient banks may charge fees for receiving foreign currencies in accordance with the provisions of each bank. If you make a transaction to a branch, you will be charged with admin and correspondent fees.
Can I transfer to my foreign currency account at a local bank?
Remittances via digibank by DBS can be to other banks in the country and overseas.
How long do I have to wait for my money back for failed/rejected forex transactions?
The refund process takes approximately 3 working days or based on the policy of your destination bank.
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What is the Remittance limit for 1-time transfer?
The limit per transaction on digibank Remittance is USD 100,000 or its equivalent. Digibank by DBS also imposes a monthly Remittance limit of a max USD 100,000 or its equivalent.
