How to receive money overseas with DBS & POSB - SWIFT code and fees

Hannes Ausmees

If you have a DBS or POSB account in Singapore and need to get an international payment, you might be wondering what you have to do to receive money from abroad. This DBS receive money from overseas step by step guide, covers all you need to know about the information to give the sender including the DBS SWIFT code, and the fees you’ll likely pay.

We’ll also introduce Wise and the Wise multi-currency account as a smart alternative if you want to cut the costs - and get your money faster - when you get paid from abroad.

Table of contents

How to receive money overseas with DBS & POSB

Payments which are sent to your DBS or POSB account from overseas will be processed using the SWIFT network. That’s a system which involves the sending bank working with 1 or more partners - known as intermediary banks or correspondent banks - to pass your money along until it reaches the right place.

To receive a SWIFT payment, you’ll need to make sure the sender has your full personal and bank account information. This is then used to deliver your payment safely and as efficiently as possible. It’s important to give the sender the DBS SWIFT code, too. This is a unique identifier which is assigned to DBS SIngapore, and which will make sure your money gets to DBS for processing without delays.

DBS & POSB SWIFT Code - what to provide to the sender

When you’re expecting a payment from overseas it’s important to make sure the sender has all your details so they can arrange the payment safely. If the sender enters incorrect or incomplete information when they arrange their SWIFT transfer, the money may be delayed, returned, or even dropped into the wrong account entirely.

Here’s what you need to tell your sender to make sure your payment arrives smoothly. You can use these details to get a payment to either your DBS or POSB account, as these providers are linked¹:

  • Your full name as shown on your bank account
  • Your DBS/POSB Bank Account number
  • Name and address of your bank: DBS Bank, 12 Marina Boulevard, DBS Asia Central, Marina Bay Financial Centre Tower 3, Singapore 018982

Fees for receiving international payments with DBS

When you receive an international telegraphic transfer into your DBS account you'll pay a 10 SGD fee².

It’s also worth noting that SWIFT payments can incur processing fees imposed by the intermediary banks involved in getting your money to you. Your sender may not be aware of these charges as they’re deducted as the payment passes through the SWIFT system. SWIFT fees like these can mean you get less than the sender intended in the end.

If you’re looking for a way to get paid from abroad without intermediary or receiving fees, check out the Wise multi-currency account. With a Wise account you’ll get local bank details for 11 currencies which means you can get paid fee free easily from 30+ countries. More on that later.

How long does it take to receive money abroad with DBS?

The length of time it takes to receive an international payment into your DBS account will vary based on a number of factors:

  • The countries and currencies involved
  • Whether there are any legally required verification checks to be made
  • The processes used by the sending bank and any intermediaries
  • Holidays and non-working days in Singapore and the sending country

It’s common for SWIFT payments to take 2 - 4 days to arrive in an account overseas³. In some cases, the sender's bank may be able to give them an indication of when the money will arrive - but this isn’t always possible as it depends on the sender’s bank.

Why an overseas transfer could be delayed

DBS highlights a few common reasons why an international payment may be delayed. If you’re waiting on a payment, it might just be because of one of the following reasons⁴:

  • The payment was made after the sending bank’s cut off time, out of hours, or during a holiday - processing won’t start until the next working day
  • The payment was sent with inaccurate or missing information
  • Mandatory regulatory checks are being carried out by DBS or the sending bank

Receive money locally in 9 currencies free with the Wise account

Most payments sent from overseas to a DBS or POSB account will be processed using the SWIFT network. This can be slow and expensive with extra charges for both the person sending and the person receiving the money.

Cut costs - and get your money faster - with Wise and the Wise multi-currency account. Wise transfers use the mid-market exchange rate with low, transparent fees which can mean you save significantly compared to using your normal bank.


And if you open a Wise multi-currency account you’ll even be able to get paid like a local in 9 currencies using your own account details. That means no receiving fees to worry about - just sign up for a free account and get your SGD account details, USD account details and more. If you need to you can also receive SWIFT payments into your account in EUR, USD, and GBP. It’s free for EUR and GBP - but there’s a small fee forreceiving USD via SWIFT

See how much you can save with Wise, today!

Sign up for free 🚀


  1. DBS SWIFT code details
  2. DBS deposit guide
  3. Overseas funds transfer service standardsl
  4. Delayed transfers

Sources checked on 31.03.2022

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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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