Hotline dhujhd Customer Services: +65 6572 8885

International Transfer FAQ

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 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.
3. 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.
4. 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.

5. 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
6. Can I send money internationally using SWIFT?

Here at DNBC, we believe that every transaction made using our services should be carried out with the best possible price we can provide.

At www.dnbcnet.com or our mobile payment applications, you can find both SWIFT and SEPA services. When you fill in the information at any of the 2 pages, we will automatically identify whether your transaction should be made with SWIFT or SEPA and direct you to the suitable page to give you the best option regarding time and fee.

So in regard to the question, no, DNBC Financial Group simply does not allow our customers to be charged anything more for whatever you intended to do.

*Note: Please take note that the provided information about SWIFT Transfer above is for informational purposes. Currently, we have indirect relationships to perform any international SWIFT transfer and inbusinessd with main cash correspondent/intermediary banks that support our clients in making international money transfers/receive via SWIFT Transfer. The term "SWIFT" or its trademarks means all registered trademarks, non-registered trademarks, trade names and company names owned by SWIFT. DNBC manages and supports our clients to monitor their transactions and send payments via DNBCnet.

7. What are DNBC Financial Group fees for International Transfer?

DNBC Financial Group supports both SWIFT and SEPA transfers to 170 countries and territories around the world so our customers can enjoy a variety of transfer options with the best fee and the least amount of wait time.

You can access DNBC Financial Group Fees for international transfer right here. This table has already included the international transfer fees for both personal and business accounts.

Currently, we have indirect relationships to perform any international SWIFT transfer and inbusinessd with main cash correspondent/intermediary banks that support our clients in making international money transfers/receive via SWIFT Transfer.

8. How Will My SWIFT Payment Be Carried Out?

Currently, DNBC has indirect relationships to perform any international SWIFT transfer and inbusinessd with several correspondent/intermediary banks that support our clients in making international money transfers/receive via SWIFT Transfer

The transaction time and fees will be heavily influenced by the relationship between our correspondent banks and your beneficiary’s financial institution.

Normally, it would take 02-05 working days for the transfer of funds to be carried out.

In the near future, DNBC Financial Group will be expanding our connection with correspondent banks around the world to support more currencies, lower transaction costs and reduce wait time.

Please note that in order to transfer funds, DNBC Financial Group depends on our correspondent banks in some stages of transaction.

Should any delays occur, DNBC Financial Group and our correspondent banks will work together to help you in transferring or receiving funds on time.

9. How Long Will It Take For My Fund To Arrive?

Normally, it would take 01-02 working days for SEPA transfer, and 02-05 working days for SWIFT.

You also have an option to transfer via SEPA Express, which can arrive on the same day your transaction is made, or on the following business day.

For more information about the services that we offer: Table Of Fees

10. How to transfer money internationally?

DNBC Financial Group makes it simple to transfer money across borders. Please follow the instructions:

  • Step 1: Log in to your account or create a new profile at https://www.dnbcnet.com/.
  • Step 2: For international transfer via SWIFT, choose "Transfer to another bank via SWIFT" or “Transfer to other local EU banks” for EU transfer via SEPA from the ‘Remittance’ section.
  • Step 3: Enter the transaction details: Beneficiary’s full name, country, address, account number, SWIFT/BIC/IBAN code, transaction message, payment supporting documents, etc.
  • Step 4: Make sure you've got all the information and confirm fees before moving ahead.
  • Step 5: Send payment order.

How long does it take to transfer money internationally online?

The speed of wire transfer typically completes within 2 and 5 business days.

One of the most certified ways to send money to other countries is using the best online international money transfer service. Here at DNBC, we offer services connected to the SEPA network, partnered with correspondent banks from SWIFT, showed the transparent process of transfer, reduced hassle every transaction, etc.

DNBC is on the way to building the cheapest international money transfer app. Our network will be increasing in the near future, allowing us to support additional currencies, cut transaction fees, and minimize the amount of time it takes to complete a transaction. Get the app now !

Please contact us through email at [email protected] or our hotline at: +65 6572 8885 if you face any issues during the transmission procedure.

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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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