Need Help – DBS Remit & Overseas Transfer

DBS Remit Cut-Off Time for Same Day Transfer

Destinations Cut-Off Time for Same-Day Transfers (Mon-Fri) Service Fees Transfer Limit
Australia (in AUD) 10:00AM Free of charge • HKD 3,000,000 Daily
Canada (In CAD) 5:00PM • HKD 3,000,000 Daily
Mainland China (in CNY) 3:00PM • CNY 80,000 Daily
Singapore (in SGD) 4:00PM • HKD 3,000,000 Daily
India (in INR) 4:30PM • HKD 3,000,000 Daily
Philippines (in PHP) 11:00AM • HKD 3,000,000 Daily
• Maximum PHP 490,000 per transaction
Indonesia (in IDR) 2:00PM • HKD 3,000,000 Daily
• Non Resident: USD 50,000 Daily
• Minimum IDR 100,000 per transaction
• Maximum USD 35,000 per transaction
United Kingdom (in GBP) 5:00PM • HKD 3,000,000 Daily
United States (in USD) 5:00PM • HKD 3,000,000 Daily
Eurozone destinations (in EUR) * 5:00PM • HKD 3,000,000 Daily
Japan (in JPY) 10:30AM • HKD 3,000,000 Daily
Thailand (in THB) 11:00AM • HKD 3,000,000 Daily
• Maximum THB 49,999 per transaction

* Eurozone destinations included:

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom (Transfer EUR to UK)

Points to note for Online Remittance Service

  1. DBS Remit same-day transfers are only applicable on clearing days (“Clearing day” means Mondays to Fridays, except public holidays in Hong Kong) within the respective cut-off times of each destination. Applications can be submitted 24/7 but those outside the cut-off times, non-clearing day or on the day typhoon signal No.8 or above or black rainstorm warning signal is hoisted will be sent on the next clearing day. In most cases, for instructions placed before the cut-off time, the transfer will be performed on the same day. Actual date and/or time of receipt is subject to the cut-off time, public holidays or processing time of correspondent bank/recipient bank.
  2. Any remittance instruction (Non-DBS Remit) placed after 5:00 pm on a clearing day or on a non-clearing day will be processed on the next clearing day.
  3. Any remittance instruction involving currency conversion placed after the cut-off time or on a non-clearing day will be effected according to the prevailing exchange rate when the instruction is submitted (except funds transfers in CNY to Mainland China) or when it is executed (for funds transfers in CNY to Mainland China).
  4. In general, the recipient will be able to receive the funds within two to four working days of the recipient bank from the transfer date. However, this may vary depending on the destination or bank to which the payment is made.
  5. When you submit your remittance instruction to a new payee via DBS iBanking successfully, the corresponding payee will be added to the registered payee list automatically.
  6. Please ensure you have provided correct information and have sufficient funds for the processing of the remittance instruction. In the event of missing information and/or insufficient funds in your debit account, the Bank reserves the right to reject the instruction.
  7. If the instruction has been executed, no amendment or cancellation can be made unless agreed by the recipient or the recipient bank. Please visit any of our branches to amend or cancel any instruction submitted. An amendment or cancellation fee will be charged.
  8. All remittance instructions are subject to verification by the Bank and may be rejected at the Bank’s sole discretion.
  9. The default daily limit of Overseas Transfer is HK$0. If no overseas transaction is conducted for 12 months, the relevant limit will be reset to HK$0 automatically.
  10. For your security, please avoid setting the daily limits at a level much higher than you usually need.

Points to note for transferring CNY to Mainland China

  1. Transfer CNY to Mainland China via DBS Remit is only applicable to customers with a single name account with HKID. This service is not applicable to customers holding only passports or customers with only a joint account.
  2. Any CNY remittance instruction to Mainland China placed after the cut-off time or on a non-clearing day (“Clearing day” means Mondays to Fridays, except public holidays in Hong Kong.) will be processed on the next clearing day.
  3. The daily limit of transfer CNY to Mainland China is CNY80,000 per person for Hong Kong residents.
  4. The name of the beneficiary account in Mainland China must be identical with the name of remitter’s account. If we are unable to confirm or verify that you are the holder of both accounts, we reserve the right to reject the remittance instruction and remove the related payee from the registered payee list.
  5. If the name of the beneficiary account in Mainland China is registered in Chinese, please specify the account name in Chinese under “Your Name in Recipient Bank’s Record”.
  6. Starting from 23 October 2021, the system will use SWIFT code for remitting CNY to Mainland China and for adding new Mainland China recipient. The system will not support CNAPS code anymore. If you have any existing Mainland China recipient which is registered with CNAPS code, you are required to remove them and re-add with the SWIFT code.

    Step 1: Log in and click "Transfer". Then click “View Registered Payee and Transaction Status”
    Step 2: Select "Manage Registered Overseas Payee"
    Step 3: Select the payee with the alert icon and click "Delete Selected" to delete the respective payee
    Step 4: Select "DBS Remit and Oversea Transfer"
    Step 5: Register the new payee again with SWIFT code and proceed to transfer

Point to note for transferring JPY to Japan

DBS Remit services are subject to service availability of the recipient bank. If the recipient bank does not support DBS Remit services, you can still make online overseas funds transfer but with charges apply.

Point to note for transferring THB to Thailand

DBS Remit services are subject to service availability of the recipient bank. If the recipient bank does not support DBS Remit services, you can still make online overseas funds transfer but with charges apply.

Point to note for transferring CAD to Canada

With new regulatory measures implemented by our payment partners in Canada recently, a change in the address format of your recipients is required for sending CAD to Canada.

Please be reminded to delete your existing recipient for sending CAD to Canada and add a new one using the new address format via DBS iBanking or DBS digibank HK app. The new address should include all details below:

Point to note for transferring EUR to Eurozone destinations

When registering a new recipient in Eurozone destinations, you are required to provide the correct IBAN number (including Country Code, Bank Code, Branch code & Account Number), the system will auto derive the corresponding SWIFT code for your recipient and proceed with the transaction.

The IBAN code format for each destination is slightly different, please check with your recipient bank.

Manage Registered Overseas Payees

  1. When you have successfully submitted a remittance instruction for payment to a new payee via DBS iBanking, the payee will be added to your registered payee list automatically.
  2. Every registered payee list can accommodate up to 20 payees.
  3. For Hong Kong residents remitting RMB funds to Mainland China, the name of the beneficiary account in Mainland China must be identical with the name of the remitter’s account. If we are unable to confirm or verify that you are the holder of both accounts, we reserve the right to reject the RMB telegraphic transfer and remove the related payee from your registered payee list.

Enquire Overseas Transfer Status / History

Types of payment status you might be receiving along the payment process:

Possible reasons for pending remittance

If you have not yet received the SMS confirming “Your funds transfer (overseas) instruction has been processed”, this may be due to the reasons set out below:

  1. Debit account in dormant status. What should I do?

    We will call you to process the verification for account reactivation. Please pay attention to our phone call.

  2. Call verification is required for a transfer amount exceeding HK$1,000,000 (or its equivalent). What should I do?

    We will contact you for call verification to confirm the transaction. Please pay attention to our phone call. If we cannot reach you to confirm the transaction within 2 business days of its submission, the transaction will be discarded.

    Please ensure that your contact number registered with the Bank is valid. If you are outside of Hong Kong, please make necessary arrangements with your telecommunication service provider to receive overseas calls and/or SMS.

  3. Transferring CNY to a newly registered Mainland China recipient for the first time. What should I do?

    We will process the transaction after validating the recipient’s name is the same with yours, please wait with patience.

  4. Technical issues. What should I do?

    We will process the transaction after the system is up and running, please wait with patience.

  5. Transfer instruction submitted on a HK Public Holiday or on a Public Holiday of the destination. What should I do?

    The transaction will be processed on the next business day (in Hong Kong or at the destination of the transfer instruction), please wait with patience.

  6. Transfer instruction submitted after the cut-off time. What should I do?

    The transaction will be processed on the next business day (in Hong Kong or at the destination of the transfer instruction), please wait with patience.

  7. Insufficient funds for payment amount / Insufficient funds for charges (e.g., If the transfer instruction is submitted after the cut-off time and the customer withdraws money from the debit account before the transaction is processed on the next business day, the transaction cannot be executed due to insufficient funds). What should I do?

    We will call you for confirmation, and you will need to deposit funds to complete the transaction. Please pay attention to our phone call.

If you have already received the SMS confirming “Your funds transfer (overseas) instruction has been processed”, this may be due to the reasons set out below:

  1. Correspondent Bank or Beneficiary Bank requested additional information. What should I do?

    We will call you for confirmation, and you will need to provide the required documents to complete the transaction. Please pay attention to our phone call.

  2. Transaction under review by the Correspondent Bank or Beneficiary Bank. What should I do?

    We will confirm with the Correspondent Bank or Beneficiary Bank, please wait with patience.

  3. Technical Issues with the Correspondent Bank or Beneficiary Bank. What should I do?

    We will confirm with the Correspondent Bank or Beneficiary Bank, please wait with patience.