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Cash Management FAQs

1. How fast and convenient are money transfers within DSBC Financial Europe if I use corporate current account?

No matter wherever you are and whatever currency you transfer as well as whether you are using a personal account or a corporate account, all transfers between all DSBC Financial Europe (DSBC) clients are free and unlimited in all currencies supported by DSBC.

There are a few things that you need in order to transfer funds to the right recipient. First of all, you and the one you transfer to would need either a personal current account or corporate current account with DSBC. Secondly, you need to login to your online banking on our website (DNBCnet) or our DSBC mobile app and choose the option to transfer money within the DSBC network and input your receiver account number for the transfer and the amount you want to transfer and that’s it, now you only need to wait for the money to be credited to your account or to your recipient’s account, this will normally take a few seconds.

2. 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.

3. Does DSBC Financial Europe offer international cash management services in term of global transfers?

At DSBC, we offer a very competitive fee for transferring funds within the DSBC network as well as to other banks across the globe. We don’t define international transferring as a different kind of transferring so you would not be charged extra for transferring internationally compared to normal transferring outside of the DSBC network. In addition to that, DSBC also provides customers with international cash management services as an extension for our current account. These services would ensure that our customers could manage their transactions effortlessly and also to make sure the transactions would reach the destination.

Another inherent part of international transfer is exchange rate, we offer the best possible exchange rate for your transaction, better exchange rate would be applied to your transfer the larger the fund transferred is. If you have registered a multi-currency account with us, you would be able to send and receive money in any foreign currency you want without the need to exchange. The only restriction is that the foreign currency of your choosing must be in our list of supporting currencies so please contact our relationship manager to find out more about which currencies we support. 

4. 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 DSBC Financial Europe BIC code is: DSFE LT 21 XXX

  • The first 4 characters represent our institution (DSFE - DSBC Financial Europe).
  • 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.
5. How quickest way to send money overseas with DSBC Financial Europe?

When it comes to wire transfer, the processing time can reach to a week or more. However, clients can transfer funds faster with DSBC Financial Europe with low fees. We offer various options for you to meet your demands. In general, it takes 2 business days to complete a remittance, but you can choose D or D+1 options which mean you can transfer your funds in the instructing day or the following day respectively. Please refer to the links below for more details:

With SEPA Instant Transfer, clients can make instant payments up to 15,000 EUR any time between European banks who are members of the SEPA Instant system. With our online banking website (DNBCnet) or DSBC mobile apps, you will be able to access all the internet cash management services but also finish international transfer in just a few minutes.

6. What Are The Differences Between SWIFT And SEPA?

 

Difference between SEPA and SWIFT:

 

Network 28 + 3 EU/EEA countries. 118 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.
Maximum amount transferred per day 15,000 EUR/day Unlimited.
Note: The maximum amount can be pre-set when establishing your account.
Transfer fees Cheaper for transfer within the EU/EEA region. Depends on the number of correspondent banks involved.
7. How fast for EUR Transfers within Europe?

DSBC Financial Europe is a member of SEPA Instant, so our clients can make INSTANT transfers amounting up to 15,000 EUR within minutes, every day of the week to any bank also in the SEPA Instant network. Transfers are only charged a flat 5 EUR for each personal or corporate client and can be carried out an unlimited number of times if both the recipient and the sender are in SEPA Instant. 

If the bank you transfer to is not in that network then the transfer would be counted as a normal transfer, which would take 3 working days for normal transfers and as quickly as the same working day for urgent one with higher fees. You can refer to our personal and corporate account fees for more information on time and cost of transferring.

See more:

8. Can I Send And Receive Transfer In Other Currencies?

At this time, with DSBC SWIFT transfer, you can send money 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 DSBC Financial Europe current account.

9. Does DSBC Financial Europe offer different currencies in one account or an online foreign currency account?

If you are looking for an online foreign currency account then the short answer is yes, DSBC Financial Europe (DSBC) offers multi-currency accounts which can be opened easily by contacting our Relationship Managers and you will be able to access this account like your main current account. You can also keep the money in different currencies for easy transferring or online payment from that account without suffering the poor exchange rate for small transactions.The only restriction for this account is that the currency you wish to keep for trading must be in the list of supported currencies from DSBC and one base currency for each multi-currency account you want to open you can contact our customer support or your dedicated relationship manager for more information about this list. 

This multi-currencies account feature will be included as soon as you have either a personal and corporate current account, but you would need to let us know if you want to open it and which currency you want to trade in.

10. Are There Any Place Limited From Receiving Or Transfering Fund Using Dsbc SWIFT Transfer?

DSBC Financial Europe support SWIFT transfer in 118 countries and territories, excluding the following countries/ territories:

  • Akrotiri
  • Iran
  • Panama
  • Pitcairn Islands
  • Bouvet Island
  • Jarvis Island
  • South Georgia and the South Sandwich Islands
  • Christmas Island
  • Johnston Atoll
  • Spratly Islands
  • Clipperton Island
  • Kingman Reef
  • Svalbard
  • Ashmore and Cartier Islands
  • Iraq
  • Cocos (Keeling) Islands
  • Midway Islands
  • Syria
  • Coral Sea Islands
  • Navassa Island
  • Trinidad and Tobago
  • Crimea
  • Norfolk Island
  • Vanuatu
  • Dhekelia
  • North Korea
  • Paracel Islands
  • Baker Island
  • Jan Mayen
  • Wake Island
  • French Southern and Antarctic Lands
  • Pakistan
  • Wallis and Futuna
  • Heard Island and McDonald Islands
  • Palestinian Territories
  • Yemen
  • Howland Island
  • Palmyra Atoll
11. Does DSBC Financial Europe offer online currency exchange for international transfers and online purchases?

We believe the services that you are looking for is the online foreign currency exchange service, this is one of our core features to encourage corporate as well as personal customers to make transactions online without worrying about miniscule details.

If you are wondering what benefits you would get from exchanging currency online via our DSBC network, then we got you covered right here. Different from other traditional banking services, we offer you a way to view the exchange rate and how much you would get in real-time from our DSBC relationship manager. You can then compare our rate to other banks if you choose to do so. But our service would not stop there, we also offer a much better rate if your exchange amount exceeds 5,000EUR. Please contact our customer service for the full updated rate for large amount exchange.

Moreover, with the benefit of having a multi-currency account feature included with your current account, you can exchange larger amounts with better exchange rates to save up for future online transactions. 

12. Can I Send Money Between EU/EEA Countries Using SWIFT?

You absolutely can.

However, SEPA's fee for transactions made within the EU/EEA region is better than SWIFT's. It will also take less time for the transaction to go through than when using SWIFT.

You can find the SEPA transfer feature in the "FAST ACCESS" menu of www.dnbcnet.com. Or you can select "Remittance" then select "Transfer to other bank via SEPA".

13. Does DSBC Financial Europe offer unlimited transfer amounts?

There is no short answer for this question, we do have a default limit set for each type of account, and this limit differs between transferring money within the DSBC network and to outside banks. This default limit is there to protect you in case there are frauds and criminals want to steal all your funds, with this limit we will notice any suspicious transfer and will notice you at once.

However, the limit there is not a barrier for you as we understand that sometimes corporate transactions can be high in both volume and amount so we are very open to suggestion from the customers, so if you ever need to extend the limit to fit your lifestyle or your business please do not hesitate to contact us via customer services for personal account and our dedicated relationship manager for corporate account. However, please understand that even with such a high limit, we would still need to confirm with you for any transactions that are considered big and suspicious by our technical team so we can protect you better.

If you want to know the current limit for easy cash management transfer for your account, please also contact your relationship manager as we can not publish this information for security reasons.

14. What Are DSBC Financial Europe Fees For International Transfer?

Please access DSBC Financial Europe's Table Of Fees For Personal and Corporate Account for more information.

15. How can I transfer money to banks and other payment systems?

If you ever wonder how to transfer from a DSBC Financial Europe ("DSBC") account to other banks for global payments or cash management purposes, these transfers are performed just like at traditional banks. You have to fill in the recipient data, indicate the account number and purpose of payment/reference, if you transfer for business purposes, please include an invoice with the transfer for quick and easy management. 

There is one little distinction between DSBC and traditional banks, you would not need to show up at a physical bank, you only need access to your online banking account via our website or DNBCnet mobile app. Once you login, you will be able to find the transfer to other local banks in the EU, you would need IBAN and the number of the account you want to transfer to and that is all it takes for DSBC to process your transfer. 

In order to transfer money from DSBC Financial Europe to other payment systems, you will have to indicate the client number in the system or other data depending on the payment system for a transfer. 

16. How Will My SWIFT Payment Be Carried Out?

DSBC Financial Europe has registered and connected with the SWIFT network and are currently working with several correspondent banks to support you in transferring funds abroad.

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, DSBC Financial Europe 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, DSBC Financial Europe depends on our correspondent banks in some stages of transaction.

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

17. 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

About Us

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

We provide the best payment platform as well as worldwide money remittance service. "DSBC Financial Europe" UAB can assist you with different payment methods, whether it is a personal account or a business account.