Remittance

Remittance Inward - Telegraphic Transfer

# Products / Items Charges
1 Credit to a SGD account
  • In SGD - Waived
  • In FCY - Waived
2 Credit to a FCY account
  • In SGD - Waived
  • In FCY - Waived
3 Credit to a Fixed Deposit
  • In SGD - Waived
  • In FCY - Waived

Remittance Inward - MEPS (MAS Electronic Payment System)

# Products / Items Charges
1 Credit to a SGD account Waived
2 Credit to a FCY account Waived
3 Credit to a Fixed Deposit Waived

Earnings on foreign currency deposits are dependent on the exchange rates prevalent at the time of maturity or withdrawal, as the case may be; and that adverse exchange rate movements could erase interest earnings completely and reduce the principal amount.

Disclaimer: Unless otherwise stipulated, all out of pocket expenses including cost of postage, telecommunication, transportation, correspondences, goods & services tax or agent's charges are for customers' account. Agents' interest will be collected from date of purchase to approximate date of payment.

Remittance Outward - Bankers' Cheque

# Products / Items Charges
1 Account holder
  • Payable to Own Name - Waived
  • Payable to Third Party - S$10 per cheque

Remittance Outward - MEPS (MAS Electronic Payment System)

# Products / Items Charges
1 Outgoing payment for local beneficiary: SGD payment in Singapore
  • S$20 per payment for amount equal to or below S$10,000
  • S$30 per payment for amount above S$10,000
2 Withdrawal from SGD/Foreign Currency Fixed Deposit (payable in own name): SGD payment in Singapore Free for first payment only
3 For overseas beneficiary: SGD payment overseas Refer to charges under Remittance Outward - Telegraphic Transfer

Remittance Outward - Demand Draft

# Products / Items Charges
1 Account holder: Debit from SGD account or payment by SGD cash 0.125% commission (min S$10, max S$100) + agent fee (if applicable) + postage (if applicable)
2 Debit from Foreign Currency Account with foreign exchange 0.125% commission (min S$10, max S$100) + agent fee (if applicable) + postage (if applicable)
3 Debit from Foreign Currency Account without foreign exchange 0.125% commission (min S$10, max S$100) + 0.125% commission-in-lieu of exchange (min S$10, max S$100) + agent fee (if applicable) + postage (if applicable)
4 Withdrawal from Foreign Currency Fixed Deposit: Issue in own name First draft per day free, every subsequent draft at $20 each
5 Withdrawal from Foreign Currency Fixed Deposit: Issue to third party, with foreign exchange 0.125% commission (min S$10, max S$100) + agent fee (if applicable) + postage (if applicable)
6 Withdrawal from Foreign Currency Fixed Deposit: Issue to third party, without foreign exchange 0.125% commission (min S$10, max S$100) + 0.125% commission-in-lieu of exchange (min S$10, max S$100) + agent fee (if applicable) + postage (if applicable)

Remittance Outward - Telegraphic Transfer

# Products / Items Charges
1 Debit from SGD account or payment by SGD cash 0.125% commission (min S$10, max S$100) + agent fee (if applicable) + cable charges (flat rate of S$30)
2 Debit from Foreign Currency Account with foreign exchange 0.125% commission (min S$10, max S$100) + agent fee (if applicable) + cable charge (flat rate of S$30 or equivalent)
3 Debit from Foreign Currency Account without foreign exchange 0.125% commission (min S$10, max S$100) + 0.125% commission-in-lieu of exchange (min S$10, max S$100) + agent fee (if applicable) + cable charge (flat rate of S$30 or equivalent)
4 Withdrawal from Foreign Currency Fixed Deposit: Payable in own name Agent fee (if applicable) + Cable charge (flat rate of S$30), subsequent payment is subject to handling fee of S$30
5 Withdrawal from Foreign Currency Fixed Deposit: Payable to third party, with foreign exchange 0.125% commission (min S$10, max S$100) + agent fee (if applicable) + cable charge (if applicable, flat rate of S$30 or equivalent)
6 Withdrawal from Foreign Currency Fixed Deposit: Payble to Third Party, without foreign exchange 0.125% commission (min S$10, max S$100) + 0.125% commission-in-lieu of exchange (min S$10, max S$100) + agent fee (if applicable) + cable charge (if applicable, flat rate of S$30 or equivalent)
7 Agent upfront charges
  • USD - 27
  • AUD* - 20/40
  • EUR - 26
  • GBP - 15
  • HKD - 300
  • IDR - 30,000
  • MYR - 15
  • NZD - 25
  • PHP - 500
  • THB - 500
  • Other Currencies - As per fees imposed by Overseas Banks.

 

*For telegraphic transfer within Australia, a charge of AUD20 will apply. For telegraphic outside of Australia, a charge of AUD40 will apply.

Remittance Outward - Cancellations

# Products / Items Charges
1 Banker’s Cheque S$30 per Banker's Cheque
2 Demand Draft / Telegraphic Transfer S$30 handling fee + cable charge (if applicable) + agent fee (if applicable; Bank buys back at prevailing OD buying rate)

Remittance Outward - Stop Payment

# Products / Items Charges
1 Banker’s Cheque S$30
2 Demand Draft / Telegraphic Transfer S$30 + cable charge (if applicable) + agent fee (if applicable)

Remittance Outward - Amendment & Tracer

# Products / Items Charges
1 Amendment for telegraphic transfer S$30 (excluding amendment fee from corresponding agent, if any)
2 Tracer for telegraphic transfer S$30 (excluding amendment fee from corresponding agent, if any)

Note:

  1. Commission-in-lieu of exchange is applicable when there is no foreign exchange involved.
  2. For non-account holder, payment in foreign currency is subject to Bank's approval.
  3. Withdrawal of SGD or Foreign Currency Fixed Deposit by means of outward remittance (Banker's Cheque, Demand Draft or Telegraphic Transfer) is subject to the fee structure as stipulated in the respective sections.

Earnings on foreign currency deposits are dependent on the exchange rates prevalent at the time of maturity or withdrawal, as the case may be; and that adverse exchange rate movements could erase interest earnings completely and reduce the principal amount.

Disclaimer: Unless otherwise stipulated, all out of pocket expenses including cost of postage, telecommunication, transportation, correspondences, goods & services tax or agent's charges are for customers' account. Agents' interest will be collected from date of purchase to approximate date of payment.