Global Remittances

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Making remittance/foreign currency payments around the world
You can now make payments anytime in more than 16 countries in 16 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

  1. Tuition and living expenses to overseas students
  2. Scholarships or stipends to students studying abroad
  3. Insurance claims payments
  4. Worker remittance payments
  5. Other remittances

Inward Remittance 

For Wholesale / Corporate Customers

  1. Vendor or supplier payments
  2. Trade-related payments
  3. Expatriate Payroll
  4. Pension disbursements to pensioners living abroad
  5. Tax collection and refund payments
  6. Other remittances

You can visit any of our Branches for your Global Remittance Services. This service is not available online.

Terms and Conditions for Global Remittance Product

  1. Before remitting funds, please check with SBI for the full list of Currencies, Banks and Countries where you can remit via Global Remittance Service.
  2. Global Remittance Service is available only on weekdays till 4.30pm (excluding public holidays)
  3. For fees/charges, please refer to schedule of charges or contact our Branch Staff/Relationship Managers at your nearest SBI Branch.
  4. Maximum limit per remittance is USD 1 million (please contact Branch Manager if the amount is more than USD 1 million).
  5. Remittance to certain countries may take up to 3 working days.
  6. Remittance can be made by debit to operative SGD/USD account for existing bank account holders. Relevant charges will apply.
  7. Forex rates can be obtained from dealer through Relationship Manager/branches.
  8. While remittance is being offered in 16 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.
  9. 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.
  10. 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.
  11. The Bank reserves its rights to refuse to accept any application or transaction without assigning any reason.