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Global Remittances

Global Remittances

Making remittance/foreign currency payments around the world

You can now make payments anytime in more than 40 countries in 40 currencies with us. It’s convenient, efficient and cost effective.

Convenience : One-stop-shop services to send money in many currencies
Efficiency : Choose either USD or SGD to remit money in other foreign currencies
Speed : Timely and efficient money transfer within 3 working days
Cost Effective : Competitive foreign exchange rates, low remittance fees

Making remittance/foreign currency payments around the world

For Retail Customers

  • Tuition and living expenses to overseas students
  • Scholarships or stipends to students studying abroad
  • Insurance claims payments
  • Worker remittance payments
  • Other remittances

Terms and Conditions for Global Remittance Product

  • Before remitting funds, please check with SBI for the full list of Currencies, Banks and Countries where you can remit via Global Remittance Service.
  • Global Remittance Service is available only on weekdays till 4.30pm (excluding public holidays)
  • For fees/charges, please refer to schedule of charges or contact our Branch Staff/Relationship Managers at your nearest SBI Branch.
  • Maximum limit per remittance is USD 1 million (please contact Branch Manager if the amount is more than USD 1 million).
  • Remittance to certain countries may take up to 3 working days.
  • Remittance can be made by debit to operative SGD/USD account or by cash deposit for existing bank account holder. Relevant charges will apply.
  • Cecil Street Branch only can accept cash deposit in both USD & SGD. Other branches will accept only SGD for cash remittance. Relevant charges will apply.
  • For remittance above SGD 10,000, preferential Forex rates can be obtained from dealer through Relationship Manager/branches.
  • While remittance is being offered in 40 listed currencies, please contact Relationship Manager/Branch Manager for remittances in any other currency. Bank reserves the right to withdraw/suspend any of the currencies offered in the remittance list without prior notice. Iranian Rial and Sudanese Pound are not offered.
  • The Bank is not responsible for losses incurred due to Forex rate movement in case of return of funds for any reason whatsoever. No additional penalty will apply.
  • Credit to the beneficiary’s account sometimes may be delayed due to various factors including incorrect/incomplete payment details, submission of payment instructions after cut-off time, ability of beneficiary bank to process incoming funds in a timely manner, local currency regulations requiring beneficiary to provide supporting documents and holidays/non-working days in respective countries.
  • The Bank reserves its rights to refuse to accept any application or transaction without assigning any reason.

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