Hotline dhujhd Customer Services: +65 6572 8885

International Account Fees

DNBC Financial Group Business account opening fee

Multi currency current account opening fee

Internet payment for business (sign up + monthly fee)

Monthly maintenance fee

* Effective from May 03rd, 2022

Information updated as of August 2022. The fees and charges are subject to change from time to time.

Find out many benefits at DNBC for each jurisdiction

FAQs

1. What is SWIFT?

SWIFT - Society for Worldwide Interbank Financial Telecommunication.

Transaction orders are transmitted between members of this network.

Each member is identified with a unique SWIFT/ BIC code.

To this day, SWIFT is the biggest and most efficient tool for international money transfer, with over 11.000 member institutions in over 200 countries, sending over 5 billions financial messages globally every year.

2. What is an international current account (overseas account, international company account)?

An account held by a foreign bank is often referred to as an international account. You can either reside in London or New York or almost anywhere and still open an international current account in the capital of Singapore. There are no physical boundaries to possess an international company account. Or global companies whose ownership or business activities lie outside of Europe like some international nationalities/jurisdictions: Hong Kong, Singapore, etc can open overseas company accounts in Europe.

Moreover, It is remarkably easy to contact service providers and make an online registration for an international current account as long as your institution satisfies the eligible criterias.

Opening and owning an international company account is extremely beneficial for enterprises that do business globally because of the financial advantages and the manoeuvrability it brings.

For example, a large number of costs and fees will be less charged for money remittances by using an overseas current account which no traditional banks can offer. Also, having an international business account helps businesss avoid political risks and put their assets under protection.

In conclusion, an international business account gives enterprises a better, simpler way to make transactions without worrying about hidden fees. Everything that an DNBC Financial Group overseas account offers is completely transparent.

3. What does SWIFT code represent?

SWIFT works by assigning each member institution a unique ID code that identifies the bank name, country, city, and branch.

For example DNBC Financial Group BIC code is: DSFE LT 21 XXX

  • The first 4 characters represent our institution (DSFE - DNBC Financial Group).
  • The 2 following characters represent the country we are based in (LT - Lithuania).
  • The other 2 following characters might be used to represent the location/city or a combination of numbers based on the organization's liking.
  • There might be an additional 3 characters, which are the institution’s branches.
4. Can I open an international current account from another country?

Absolutely. DNBC Financial Group welcomes and accepts online applications for opening an international current account anywhere in the world with the assistance of our dedicated consultant team and experts.

Just by a few minutes to register your information online on our public website dnbcf.com, you can own your international business account without any paperwork.

DNBC offers international business account for clients worldwide. If you are an entity operating your business outside Europe, we also support you opening an account, because every step for onboarding is performed online from registering to documents submission and remote interview.

Moreover, if you are clients whose nationalities/jurisdictions are international countries like HongKong, Singapore..., you can apply for DNBC overseas current accounts without any difficulty.

If your businesses are inbusinessd in the US, India, China, the Middle East..., and you need an international current account for transactions with Europe in euro currency, DNBC is the best option for you with an online opening account and fast onboarding process that help you manage cost and time effectively.

Please note that every nationality/jurisdiction will have different requirements, we flexibly support our customers case by case.

For more information, you can contact us by visiting the contact us page or chat box at the bottom right corner on DNBC public website. If you need to speak directly, you can call our hotline +65 6572 8885 or call WhatsApp/Viber at +370 6186 1961.

See more:

 

5. What are the differences between SWIFT and SEPA?

 

Difference between SEPA and SWIFT:

 

Network 28 + 3 EU/EEA countries. 170 countries and territories.
Currency EURO. Multiple currencies.
Transaction time 01-02 business days. 02-05 business days.
Or more depending on the relationship between the two payment institutions.
Transaction limit

10,000 EUR/day for a personal account.

50,000 EUR/day for a business account.

Note:
This is the default limit when establishing your account.
The limit can be increased upto 200,000 EUR for personal account and 500,000 EUR for business account..
Contact +65 6572 8885 for transaction limit update.
Transfer fees Cheaper for transfer within the EU/EEA region. Depends on the fees of the correspondent banks involved.
6. What are the differences between Business Accounts and international accounts?

The main differences lie in the location that a legal entity inbusinesss. EU Business accounts are applied for companies that are operating businesses in the EU, while EU international Accounts are opened for entities that run business activities outside of Europe. For example, if your enterprise is licensed to operate in regions within the European Union territory, such as German, Italy, Spain, Sweden, etc. Then the most suitable current account for your institution should be a business account.

On the other hand, financial institutions like DNBC Financial Group also provide money remittance service and international company account opening service for establishments doing business outside of the EU. There are little to no limits for enterprises operating anywhere in the world legally when owning an EU international account.

However, there are some of the constraints on opening EU international accounts in specific regions due to the European commission's charter. Find out more about regional terms and conditions.

See more:

7. Can I send and receive transfer in other currencies?

At this time, with SWIFT transfer, you can send money online from your Euro account to other accounts in any other currencies.

However, when you receive payments in other currencies, the fund will be automatically converted to Euro in your DNBC Financial Group current account.

8. Are there any place limited from receiving or transferring fund using DNBC SWIFT transfer?

With SWIFT transfer services recently implemented, DNBC Financial Group has partnered with several correspondent banks to provide our customers with the best possible fee and the least amount of wait time for international transactions.

At the moment, DNBC Financial Group can support international transfer and receive from 170 countries and territories around the world including the UK, the EU, Japan, South Korea, Switzerland, Finland, the UAE, Singapore, Malaysia, HongKong, India, Norway, Germany, Sweden, France, Canada, Australia and many more.

However, we also have a list of 25 prohibited countries regarding SWIFT transfer.

  • 1. Afghanistan
  • 2. Bahamas
  • 3. Barbados
  • 4. Botswana
  • 5. Cambodia
  • 6. Cuba
  • 7. Ghana
  • 8. Jamaica
  • 9. Iran
  • 10. Myanmar
  • 11. Nicaragua
  • 12. North Korea
  • 13. Pakistan
  • 14. Panama
  • 15. Samoa
  • 16. Somalia
  • 17. South Sudan
  • 18. Syria
  • 19. Sudan
  • 20. Trinidad & Tobago
  • 21. Uganda
  • 22. US Virgin Islands
  • 23. Venezuela
  • 24. Yemen
  • 25. Zimbabwe

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About Us

We are always proud of being an experienced Financial Institution in the global financial payment market.

We provide the Best International Money Transfer Services. DNBC Financial Group can assist you with different payment methods, whether it is a personal account or a business account.

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