Remittance: Money Remittance Services with DBS Bank

DBS Remit helping your love
go the distance.

Open DBS Treasures Account

Now DBS Remit open for purpose of overseas investment!

Introducing a new remittance feature on DBS Bank, that enables you to invest in overseas equity/debt markets.

With DBS Remit, you can now send up to USD 250,000* abroad to financial institutions at most competitive FX rates & zero bank fee.

How to remit funds for investments in just a few clicks

Add overseas investment payee

Select the appropriate purpose description

Indian Portfolio Investment abroad in Equity Shares or Debt Instruments

Make sure you read and accept the Self-Declarations.
Its Done.

Disclaimer: Online overseas investment facility is available only for customers with a DBS account older than one year. Customers with newer accounts need to visit a branch.

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 DBS Bank's effortless international fund transfers..

Effortlessly Easy

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

A WORLD OF INVESTMENT OPPORTUNITIES

Experience growth beyond borders by investing in international debt/equity markets. Our new feature enables you to remit not just to individuals, but institutions as well.

Investment

Profits

Growth

Remittance is best with DBS Bank most competitive FX rates.

You save ~1% when you remit DBS Remit’s most competitive FX rates.

	DBS	Other Pvt banks
USD Conversion rate	85.6	85.6
Rate to customer	86.47	87.31
Sending amt (in USD)	25,000	25,000
Sending amt (in INR)	21,63,161	21,83,952
Bank Fee (in INR)	0	1,180
Total amount remitted (in INR)	21,63, 161	21,85,132
Savings with DBS	21,971

*FX Conversion rate is taken as an average of FX rates offered by leading Indian private banks.
**FX rates within our app & other leading banks are refreshed as of 28th May’ 2025. FX rates are indicative and subject to fluctuations. Please confirm current rates before transactions.

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

Whatever your purpose for international fund transfers is, DBS 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 200+ countries while DBS Remit takes care of your foreign remittance.

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. DBS Bank Promise!

By your side, always!

Transfers so quick, so easy, so effortless, you’ll wish we could transport you to your loved ones too! Now remit to 200+ countries with DBS Remit.

A few clicks is all it takes to Remit funds

Login to the digibank App
Click on ‘Overseas Transfer’
Add Overseas Payee
Select Country & Currency
Enter Bank and Payee Details
Add Payee Successfully
Go to digibank Internet Banking
Login to Internet Banking
Click on Overseas Transfer
Input all details
Select the beneficiary (from already added list)
Enter the amount to be transferred
Chose the Purpose of remittance
Confirm all transaction details & enter OTP to verify
Done – Transfer Completed!

Fees and Charges

Bank Fee

Country/Currency

Bank Fee

USD to USA
GBP to United Kingdom
AUD to Australia
EUR to Eurozone
HKD to Hong Kong
SGD to Singapore
CAD to Canada

Rs. 0

Any other currency/country combination

Rs 500

Foreign Currency Foreign Exchange

Currency Converter SGD to INR Rate

Key highlights

Online remittances are available from Indian resident savings account & Non-resident external (NRE) accounts.

Non-resident external (NRE) accounts and savings accounts held by Indian residents can be used for online transfers.

The transaction limit in a financial year is set at USD 250,000 or similar, and the daily transaction limit is set at USD 25,000 or equivalent.

Same day transfers are applicable only when transaction is initiated before the cut off time (i.e., before 11:30 AM IST).

DBS guarantees full credit to the payee. Note that few overseas banks charge additional bank fee on incoming remittance at their discretion. DBS has no control over fee charged by them.

GST & TCS are regulatory charges and non-refundable in case of transaction rejection. TCS charges can be claimed while filing Income tax return.

Remittances are only handled during business days for the banks. Transactions initiated on holidays will get processed on next working day.

Online remittances can be made for the below purposes-

Studies abroad
Self-transfers/Maintenance of close relatives
Gift and personal donations
Indian Portfolio Investment abroad in Equity Shares
Indian Portfolio Investment abroad in Debt Instruments
Donations for religious/charitable purpose
Business Travel
Travel to pursue education overseas
Travel for pilgrimage
Travel for medical treatment
Personal travel and payments for international credit cards settlements
Medical Treatment overseas
Emigration

Please be aware that bank account numbers in Canada are typically seven digits long. The recipient's account number should not include the 4-digit branch/transit code. Remittance transactions could be rejected if the format is not followed.

Cut-Off Time

Cut-Off Time

Gone are the 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 DBS Bank. 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:

Country	IN (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

Fees and Charges

Bank Fee

Country/Currency

Bank Fee

USD to USA
GBP to United Kingdom
AUD to Australia
EUR to Eurozone
HKD to Hong Kong
SGD to Singapore
CAD to Canada

Rs. 0

Any other currency/country combination

Rs 500

Foreign Currency Foreign ExchangeCurrency Converter SGD to INR Rate

GST Charges

Amount of currency exchanged (ACE)	GST Rates
< ₹ 1 Lakh	0.18% of ACE
₹ 1,00,001- ₹ 10 Lakh	₹ 180 + 0.09% of ACE
>₹ 10,00,001	₹ 990 + 0.018% of ACE

Foreign Currency Foreign Exchange

Currency Converter SGD to INR Rate

TCS Charges

As per Finance Act 2023, all outward remittances transactions under the Liberalized Remittance Scheme (L₹) are subject to new Tax Collected at Source (TCS) rates. This shall be applicable for all remittances done by a Resident individual.Revised TCS rates applicable from 1^st April 2026-

Purpose Description	PAN- Aadhaar linked	PAN Aadhaar not linked/ ITR not filed
Education where source of fund is LOAN	< = INR 10 lac – 0% ; > INR 10 lac – 0%	< = INR 10 lac – 0% ; > INR 10 lac – 0%
Education where source is OWN FUND	< = INR 10 lac – 0% ; > INR 10 lac – 2%	< = INR 10 lac – 0% ; > INR 10 lac – 5%
Medical Treatment & Health services
Travel for medical treatment
Travel for education
All other travel purposes (personal, business, pilgrimage & medical treatment.)	< = INR 10 lac – 0% ; >INR 10 lac – 20%	< = INR 10 lac – 0% ; >INR 10 lac – 20%
Gifts or donations or Self-transfers
Family maintenance & self-transfers
All forms of Investments overseas, etc

Disclaimer

Only transactions processed by the CashOps team by 30 March 2026 will be counted against the current financial year's LRS limit.

Any transactions initiated by clients after the cut-off on 30 March 2026, or deals/transactions done on 31 March 2026 (public holiday), will be applied to the next financial year's limits.

TCS deduction can be adjusted against your overall tax liability. TCS can be claimed in the income tax refund or credit can be availed at the time of filing the income tax return or for computing your advance taxes. Bank will provide the TCS certificate quarterly, which can be used for Income Tax Return filing.Foreign Currency Foreign ExchangeCurrency Converter SGD to ₹ Rate

What could possibly cause my transaction to be rejected?

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

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

How do I send money overseas online?

Login to DBS Bank 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.

How do I add beneficiary/payee for overseas transfer through DBS Remit?

To add a beneficiary/payee, you need to log into your DBS Bank account on our website and initiate an overseas payment. You will need the payee’s basic details such as their full name, account number, bank account details, etc., to initiate the payment.Ensure that you download and log into the digibank app at least once before you add a new overseas payee.After the payee is set up, the newly added payee’s details will be saved in the system, and you don’t have to enter the details again during your next transfer.

What documents do I need to send money overseas?

With DBS Bank, you don’t need to provide any documents to transfer money anywhere in the world. All the required payment details and declaration are collected digitally during submission of the overseas transfer request on the DBS Bank ibanking platform. You must, however, go through the terms and conditions and the FEMA declaration provided on our website. You will have to agree and confirm the applicable T&C and declaration before submitting your transaction request and by virtue of you accepting these, it would be deemed that you agree to the applicable terms.

Can I initiate an overseas transfer on the digibank app?

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

What type of transactions/under what purpose can an overseas transfer be initiated through with DBS Remit?

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

Indian Portfolio Investment abroad in Equity Shares*

Indian Portfolio Investment abroad in Debt Instruments*

*Online overseas investment facility is available only for customers with a DBS account older than one year. Customers with newer accounts need to visit a branch.

Under what circumstances the outward remittance request submitted may get rejected?

Outward remittance requests are typically rejected in case:

The account does not have sufficient funds

The amount of transaction exceeds USD 25,000 or its equivalent in other currencies

The annual LRS limit of USD 250,000 has been utilised

The beneficiary country is not part of “Permitted Country List”

The beneficiary is not a part of the “Permitted Beneficiary List”

Remittance being sent to your own account overseas

Incorrect or partial details of beneficiary/beneficiary’s bank has been provided

unauthorised/non-permissible transactions not allowed as per RBI Regulations are conducted

What is the minimum or maximum limit on overseas transfer initiated through with DBS Remit?

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 Liberalised 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).

View the full list of FAQsView Terms and ConditionsView Overseas transfer declarationView Inward remittance purpose code description listView Full list of countries under DBS Remit Click here for correspondent bank details.

Forex holidays in 2024RBI Press Release: Forex Transactions - Unauthorised Forex Trading PlatformsRBI FAQs on Foreign Exchange (Forex) Transactions

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 DBS Bank is designed to help you live better. It’s so easy, it feels like magic!