Whether you are supporting family overseas, paying for education, managing investments, or settling expenses abroad, choosing a secure and cost-efficient international transfer method is essential. DBS Remit helps you send money internationally with speed, transparency, and reliable delivery.
This article explains how remittance service works and how it ensures funds reach beneficiaries safely and on time.
Why You Should Choose DBS Treasures Remittance Service
DBS Treasures remittance Service offers a secure and seamless way to transfer funds across borders. Here’s what makes it a preferred choice for individuals managing international payments:
- Fast and Secure Transfers: Experience same-day remittances to over 180+ countries backed by a delivery guarantee. Every transaction is protected through advanced encryption and multi-factor authentication, ensuring your money reaches safely and on time.
- Preferential Exchange Rates: Enjoy preferential forex rates with zero bank fee, helping you maximise value and save on every transfer.
- Easy and Convenient Process: With simple digital banking journeys on internet and mobile Banking, you can add payees, send money, and track transfers instantly without visiting a branch.
- Zero Bank Fee or hidden charges: DBS Treasures keeps transfers cost-effective, allowing more of your funds to reach your family, whether for regular household expenses or investment purposes.
- Extensive Global Reach: DBS Treasures’ strong international network ensures timely delivery wherever your loved ones are.
- Value-Added Features: Access additional benefits like Foreign Inward Remittance Certificates (FIRC) for transparency, along with options for recurring or investment-linked transfers, all within one secure platform.
Note: Same-day transfer is applicable only when transaction is made before the cut off time. The cut-off time for same-day transfer is 11:30 AM for most of the currencies.
FX Conversion rate is taken as an average of FX rates offered by leading Indian private banks.
How to Send Money Conveniently with DBS Treasures Remit
With DBS Treasures Remit, sending money abroad is simple, secure, and fast. Follow these easy steps to complete your online remittance:
Step 1. Log in to your DBS Treasures Mobile or Internet Banking account.
Step 2. Select the country of your beneficiary and choose the currency for your transfer. Tiered FX rates apply for higher transfer values.
Step 3. Add the payee by entering beneficiary details (name, bank account number, SWIFT code). Real-time SWIFT validation helps reduce errors.
Step 4. Enter the transfer amount and select the purpose of remittance.
Step 5. Upload supporting documents if required for compliance.
Step 6. Review the applicable exchange rate and charges, then confirm the transfer. Eligible transfers submitted before the cut-off time are processed the same day.
Fees and Charges to Know Before Sending Money Abroad
Key factors affect the final amount credited to an overseas account when you send money from India. These aspects also influence transfer speed and overall value.
- Transfer Fees
Banks and service providers may charge a fee per outward remittance. The amount can vary based on the destination country, transfer method, and service type. Reviewing the fee structure helps you estimate the total cost of sending funds abroad.
- Exchange Rates
The conversion rate applied when converting INR to a foreign currency has a direct impact on how much the beneficiary receives. Even minor rate changes can alter the final amount credited. It is important to compare rates before initiating a transfer.
- Intermediary or Correspondent Bank Charges
Some international transfers pass through intermediary banks that may deduct charges during processing. These deductions occur overseas and can reduce the net payout. Choosing a transparent remittance platform helps limit unexpected costs.
- Cut-Off Times and Processing Speed
Transfers submitted after a provider’s cut-off time may be processed on the next working day. Planning transfers in advance helps manage timing and cost.
- Payment Method
Different funding methods may carry different charges or limits. Reviewing available options helps you select the most cost-efficient route.
Regulatory and Tax Considerations for Remittances
When sending money abroad, resident individuals should keep the following in mind:
- Annual Transfer Limits (Liberalised Remittance Scheme) – Under the RBI’s LRS, resident individuals can remit up to USD 250,000 per financial year for permissible purposes such as gifts, education, or maintenance of family abroad. Transfers beyond this limit require special approvals.
- Required Documentation – Keep PAN card, proof of funds, and purpose of remittance handy if you are transferring higher amounts.
- Tax Implications – Personal remittances are generally non-taxable, but large transfers may require reporting.
- Currency Controls – Complywith both local and Indian rules on outward transfers.
Conclusion
Distance should not limit your ability to manage cross-border payments. DBS Treasures Remittance Services offer fast, same-day transfers, competitive exchange rates, and global reach, making international money transfers seamless. As one of the best remittance services available for convenient overseas transfers, it helps ensure your funds reach on time.
Disclaimer: No Business Standard Journalist was involved in creation of this content